Here’s why the Ava Risk (ASX:AVA) share price is surging today

The Ava Risk Group Ltd (ASX: AVA) share price is higher today following the announcement of a new contract. Here’s what you need to know.
The post Here’s why the Ava Risk (ASX:AVA) share price is surging today appeared first on The Motley Fool Australia. –

hand on touch screen lit up by a share price chart moving higher

The Ava Risk Group Ltd (ASX: AVA) share price is lifting today following the positive announcement of a multi-base air force contract.

During mid-morning trade, the Ava share price shot up to an intraday high of 64 cents. However, shares in the risk management services and technologies company have since retraced to 61 cents, up 3.39%.

What did Ava announce?

The Ava share price is firmly in the green today after the company announced a major new contract award.

In its release today, Ava advised that it has successfully completed a comprehensive site acceptance testing using its Aura Ai sensing product. The evaluation and testing program took place at a major airbase within an undisclosed large Asian country.

In addition to the positive news, Ava revealed that it has further secured another contract with the same client. It noted that it has received instructions to deploy its security systems to 15 sites across selected major air force bases.

Ava highlighted that it has purchase orders of more than $0.7 million for multi-site security upgrades at 4 locations. The company stated that deployment at the initial sites is expected to start during the third quarter of FY21. The orders for the remaining 11 sites are anticipated to be undertaken during Q4 FY21 and into FY22.

CEO commentary

Ava Group CEO Rob Broomfield reaffirmed the company’s strengths:

Following a comprehensive evaluation and testing program and a competitive tender and trial process, our strong track record of providing world class security and assurance technologies has been reinforced by this large contract award with a highly respected defence end user.

How has the Ava share price performed?

Over the past 12 months, the Ava share price has performed strongly, gaining close to 350%. The company’s share registered a multi-year low of 8 cents in March, before storming to a peak of 78.5 cents in December.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Here’s why the Ava Risk (ASX:AVA) share price is surging today appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!