Hensoldt Insiders Deploy Over €255,000 Near 52-Week Low as Order Backlog Swells to €9.8 Billion
Published on 07/01/2026 at 22:07 | Redaktion boerse-global.de
Hensoldt's top brass are backing up their bullish outlook with hard cash – even as the stock trades near a one-year low. Chief executive Oliver Dörre made his third insider purchase of June last week, snapping up shares just as the defence electronics group's quarterly order intake more than doubled to €1.48 billion. The message from the C-suite is unambiguous: the company's fundamentals are stronger than its recent share price suggests.
Dörre spent a total of roughly €235,871 on Xetra across two separate buying sprees in June. On 22 June he acquired stock at €69.50 and €67.98, for a combined volume of about €172,000. Four days later he added three more tranches at near-identical prices of €64.28, €63.46 and €63.48, investing nearly €63,871. The timing was striking: that day the stock touched a 52-week low of €63.12, meaning Dörre effectively bought within a hair's breadth of the bottom. Chief financial officer Inka Tews also joined the buying, picking up shares on 23 June at €69.50 via Xetra and a day later on the Frankfurt floor at €67.36, each transaction worth roughly €10,000. In total, management invested more than a quarter of a million euros over the span of a week.
The stock has since bounced. On Wednesday it rallied 4.21% to close at €70.84, tracking a broader uptick in German defence names that also lifted Rheinmetall past €1,000 and pushed RENK higher. Yet the recovery remains tentative. Over the past 30 days Hensoldt has shed 16%, and the year-to-date loss stands at nearly 24%. Technically, the shares still sit well below both the 50-day moving average of €76.66 and the 200-day line of €81.15 – a gap of roughly 12.7% to the longer-term trend. The 14-day relative strength index of 45.4 points to neutral territory, leaving room for further upside but no clear momentum signal. The stock's 52-week high of €115.10, set on 3 October last year, is almost 39% away.
Should investors sell immediately? Or is it worth buying Hensoldt?
What underpins the insider confidence is a set of operating numbers that have little in common with the price action. Hensoldt booked order intake of €1.483 billion in the first quarter of 2026, more than double the prior-year figure. The backlog swelled to €9.801 billion, providing multi-year revenue visibility. Revenue rose to €496 million and adjusted EBITDA hit €44 million. For the full year the company continues to target revenue of roughly €2.75 billion, an adjusted EBITDA margin between 18.5% and 19.0%, and a book-to-bill ratio of 1.5x to 2.0x.
An equally important signal came in early June, when Hensoldt raised its guidance for adjusted free cash flow conversion from around 40% to roughly 50% of adjusted EBITDA. Management attributed the upgrade to higher customer advance payments driven by accelerated procurement processes in Germany. The revised forecast is also intended to absorb the cash outlay for the Nedinsco acquisition, with net leverage expected to remain at about 1.5x. The political backdrop adds further ballast: the 2026 federal budget allocates €82.7 billion to defence, a jump of nearly €29.4 billion from the previous financial plan. Germany's NATO spending ratio is set to hit 2.8% in 2026 and climb to 3.5% by 2029.
For now, the recovery has lifted Hensoldt off its low but not out of the woods. The next major test comes on 31 July, when the company publishes its half-year report in Taufkirchen. Until then, the insider purchases stand as a visible vote of confidence – but converting operational strength into lasting share-price gains will require the broader market to buy into the story too.
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