Insights

Why the DroneShield (ASX:DRO) share price is leaping higher today

The DroneShield share price is leaping higher today, up nearly 3%, even as the All Ordinaries slides lower. We take a look at why…
The post Why the DroneShield (ASX:DRO) share price is leaping higher today appeared first on The Motley Fool Australia. –

drone flying against backdrop of blue sky representing drone asx share price

DroneShield Ltd (ASX: DRO) shares have today leapt 2.9% higher to 18 cents at the time of writing. In earlier trade, the DroneShield share price jumped by as much as 8.6% before pulling back to its current level.

This comes following a positive update released to the ASX this morning, and despite the wider All Ordinaries Index (ASX: XAO) sliding down 0.4%.

What did DroneShield announce?

Investors are today driving the DroneShield share price up after the company reported it had received record new customer purchase orders of $2.8 million for the December quarter to date. Its customer cash receipts also leapt higher, hitting $1.6 million, up from $200,000 in the previous quarter.

In addition, the company revealed it has deployed its multi-sensor C-UAS DroneSentry system at Switzerland’s Altenrhein Airport. According to the release, its drone defence system is entirely passive, meaning it does not interfere with other electronic equipment, making it a good fit for airport environments.

DroneShield has deployed its system to Altenrhein Airport on a no revenue basis. But the company expects having DroneSentry in place at a working airport will lead to paid deployments at other airports and customer sites around the world.

Commenting on the airport deployment, Oleg Vornik, DroneShield’s CEO, said:

Airports have experienced a substantial degree of disruption due to UAS flights at their facilities. Small UAS present multiple well-documented dangers to the airliners, including critical engine damage risk in the event the UAS and its lithium batteries come into contact with it, or creating windshield cracks on impact.

Timo Nielsen, the Altenrhein Airport Safety & Compliance Manager, added:

We are pleased to partner with DroneShield, as the global leader in the C-UAS space, for the deployment at our airport, enabling us to receive actionable awareness of the UAS activity in our air space. Importantly, as a forward leaning airport, we welcome visits from other airports in Europe and elsewhere globally, to contact us or DroneShield, to learn more about the deployed system, and see it at a working airport facility.

DroneShield share price and company snapshot

DroneShield develops and sells hardware and software for the detection of drones. It has developed multilayered pre-eminent drone detection and disruption solutions to protect people, organisations and critical infrastructure from drone intrusions.

The DroneShield share price has been all over the map this year. From its 2020 highs in early January, shares tumbled 69% by mid-April. Since their 24 April lows, DroneShield shares have surged more than 100%.

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 Bernd Struben 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 Why the DroneShield (ASX:DRO) share price is leaping higher 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!