AgEagle Aerial Systems Inc (NYSEAMERICAN: UAVS) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced that it has signed a significant new customer to its sustainability platform and drone leasing program. Of course, the news excited investors, sending the stock screaming for the top. Today, we’ll talk about:
- The news;
- what we’re seeing from UAVS as a result; and
- what we’ll be watching for with regard to the stock ahead.
UAVS Is Flying On News
As mentioned above, AgEagle Aerial Systems is ahving an incredibly strong day in the market today after announcing the acquisition of a new customer. In a press release issued early this morning, the company said that it has signed a significant specialty crop producer, packager, and supplier in North America. The customer has signed up for both, the new sustainability platform and the drone leasing program for the 2019 crop season.
Through the service, UAVS will provide access to Unmanned Arial Vehicles that are equipped with sensors for the growing season. The company will also provide access to data connected services for farms covering thousands of acres in the United States. The company will also set up a network of soil moisture monitoring devices with rain guages and solar sensors to provide in-depth data analytics at field level.
All of the data harnessed through these various sources will be used in a sustainability dashboard and scorecard that analyzes data to guage soil health, water utilization efficience, and pest and disease control.
In a statement, Barrett Mooney, CEO at UAVS, had the following to offer:
We’re honored to officially launch our new sustainability platform and drone leasing program concurrent with the signing of a major customer… This launch marks an important milestone for the company as it positions AgEagle as more than just a manufacturer of UAVs, but a full-service provider for the sustainable ag market with opportunities to drive recurring revenue streams.
Our goal with these new service offerings is to provide farmers and agribusinesses in the row crop and specialty markets with simple tools and services that enable them to make essential in-season decisions to enhance crop yield, while simultaneously evaluating those decisions for their sustainability initiatives.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. In the case of AgEagle Aerial Systems, the news proved to be overwhelmingly positive. After all, the new customer is not only a revenue generating opportunity, it’s an opportunity to showcase the company’s new products and technologies that could domino into more customers down the line. So, it’s no surprise to see that excited investors are sending the stock on a run for the top. At the moment (10:31), UAVS is trading at $0.88 per share after a gain of $0.16 per share or 21.40% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the iWatch Markets team will continue to keep a close eye on UAVS. In particular, we’re interested in following the story surrounding the company’s continued work to expand its client base and showcase its technology. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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