Why the DroneShield (ASX:DRO) share price is lifting 6%

The DroneShield share price is lifting off today, up 6% in morning trade. We take a look at what’s driving ASX investor interest.
The post Why the DroneShield (ASX:DRO) share price is lifting 6% appeared first on The Motley Fool Australia. –

flying asx share price represented by man flying remote control drone

DroneShield Ltd (ASX: DRO) shares are taking off today after the company announced a new agreement with the United States Government. In morning trade, the DroneShield share price has lifted 6.06% to 17.5 cents. 

Let’s take a look at what the company reported. 

What did DroneShield announce?

The DroneShield share price is on the rise today following the company’s announcement it has entered into a new cooperative research and development agreement with the US Department of Homeland Security Science and Technology Directorate.

The company said its multi-sensor unmanned aerial system (or drone, to the uninitiated) detection and mitigation capabilities will be at the centre of the research. Its DroneSentry and DroneSentry-C2 solutions for fixed and semi-fixed site applications will be the primary focus.

The DroneSentry system uses a range of sensors to identify and track drones, including radiofrequency, radar, EO/IR camera, and acoustics. The system uses DroneShield’s AI-based “RF detection, long-range sensing, and expanded multi-sensor data fusion capabilities”.

DroneSentry-C2 enables operators to deploy a complete drone detection and threat assessment capability to protect their fixed bases and critical infrastructure.

Commenting on the new agreement, DroneShield CEO Oleg Vornik said:

We are excited to work closely with DHS S&T [Department of Homeland Security Science and Technology Directorate] under this cooperative agreement to support end users throughout their agency and sub-agency partners. Our DroneSentry solution is at the forefront of fixed-site counter-UAS and partnerships like this one allow us to make further advancements that are most relevant to the end users and mission we serve.

DroneShield said it could not make revenue projections until the total value of the rolling agreement is known. Stay tuned for updates.

DroneShield share price snapshot

There have been plenty of ups and downs for shareholders over the past 12 months, with today’s lift in the DroneShield share price bringing the one-year losses down to 7.9%. By comparison, the All Ordinaries Index (ASX: XAO) is up 0.4% over that same period.

Year to date, the DroneShield share price is down 2.8%.

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 February 15th 2021

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 lifting 6% 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!