UAVS Stock Reverses Early Gains After Aerodrome Investment - Retail Says Only 'Matter Of Time' Till The Shares Rally

• Aerodrome specializes in technologies that combine autonomy, target discrimination, and advanced aerial warfare capabilities.
• EagleNXT said the investment will strengthen its autonomous systems and precision-strike technologies.
• Last month, the company sold 15 eBee X fixed-wing drones to a Europe-based defense integrator.

Shares of AgEagle Aerial Systems (UAVS) reversed pre-market gains to trade 1% lower on Friday, on track for their first decline in five sessions. 

AgEagle Aerial Systems announced a strategic investment in Aerodrome Group, an Israel-based developer of precision loitering munitions and advanced defense technologies.

Aerodrome specializes in technologies that combine autonomy, target discrimination, and advanced aerial warfare capabilities.

AgEagle Aerial Systems, also known as EagleNXT, said the investment will strengthen its autonomous systems and precision-strike technologies. As part of the agreement, EagleNXT also secured a reserved right to establish a U.S.-based joint venture with Aerodrome.

International Orders Pile Up

Last month, the company announced that a Malaysian government agency procured an eBee TAC tactical mapping drone. The order also included spare parts to support and extend the operational life of the agency’s existing eBee X drone fleet.

Earlier, AgEagle Aerial Systems announced the sale of 15 eBee X fixed-wing drones to a Europe-based defense integrator. The eBee X is a lightweight mapping and surveying drone that can fly for up to 90 minutes, cover large areas, and deliver centimeter-level accuracy. The drones will be used for intelligence, surveillance and reconnaissance (ISR), mapping, and training applications.

How Did Stocktwits Users React?

Retail sentiment for UAVS remained 'extremely bullish' on Stocktwits, amid 'extremely high' message volumes. 

One user said its only a "matter of time" before the stock rallies.

Another user saw support at $1.15.

Year-to-date, the stock has shed 1%.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Share

·

Add us on