AgEagle Aerial Systems Stock In Focus After Green UAS Certification: Retail Neutral After Mammoth Rally In A Month
By Stocktwits Inc | First Published Dec 12, 2024, 12:01 AM ISTThe certification validates commercial small UAS as cyber-secure and will provide a wider variety of secure unmanned aerial systems (UAS) than the current Blue 2.0 list to conduct mission sets, according to the firm.
AgEagle Aerial Systems, a provider of unmanned aerial systems, sensors and software solutions, announced that it has been granted Green UAS certification from the Association for Uncrewed Vehicle Systems International (AUVSI).
AUVSI describes itself as the world’s largest nonprofit organization dedicated to the advancement of uncrewed systems, autonomy, and robotics.
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The certification validates commercial small UAS as cyber-secure and will provide a wider variety of secure unmanned aerial systems (UAS) than the current Blue 2.0 list to conduct mission sets, according to the firm.
Shares of AgEagle Aerial Systems were down over 13% on Wednesday. However, the slide is dwarfed by the whopping 176% surge in the last one month.
Notably, in November the firm announced it has secured 17 new purchase orders for eBee TAC drones from U.S. defense and security customers.
The firm stated that the eBee TAC platform offers unparalleled advantages in surveillance, mapping, and 3D visualization-vital capabilities for both defense and cross-industry applications that demand accuracy and operational reliability.
Interestingly, the month of October witnessed some crucial corporate developments. The firm announced the closing of a public offering with gross proceeds of approximately $6.5 million.
The company had then said it expects to use the proceeds for the repayment of an outstanding note and the remainder for general corporate and working capital purposes.
However, with a decline in stock price, the company had to execute a 50:1 reverse stock split.
Meanwhile, on Stocktwits, retail sentiment continued to trend in the ‘neutral’ territory (48/100) on Wednesday.
Most user comments on Stocktwits indicate a positive take on the stock.
Despite the recent rally, shares of the firm have lost over 95% since the beginning of the year.
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