AgEagle Aerial Systems Inc (NYSEAMERICAN: UAVS) is flying in the market this morning, and for good reason. The company announced a formal market introduction of a new product.
Of course, this new product has the potential to lead to expanding revenue for the company, exciting investors. Today, we’ll talk about:
- The product introduction;
- what we’re seeing from UAVS stock as a result; and
- what we’ll be watching for ahead.
UAVS Stock Flies On Product Introduction
As mentioned above, AgEagle Aerial Systems is flying in the market this morning after announcing a formal product introduction. The announcement came by way of press release in the pre-market this morning.
In the release, the company announced the formal market introduction of ParkView. The product is a proprietary aerial imagery and data analytics platform. The platform was designed specifically for assessing and supporting sustainability initiatives involving municipal, state and federal public parks and recreation areas.
In the release, UAVS also said that it has won its first ParkView customer. An agreement has already been signed with Denver Parks and Recreation in Denver, Colorado.
The new product will empower Denver Parks and Recreation to use aerial imagery and sensor data to better inform vegatative maintenance and natural resource preservation for its green infrastructure. The company’s staff will also provide the client with in-depth training on best management practices for UAV operations in a municipal setting.
In a statement, Barrett Mooney, CEO at UAVS, had the following to offer:
In light of AgEagle’s mission to identify new industry verticals to penetrate with our leading-edge aerial imagery analytics technologies, it was a logical fit to adapt and rebrand our powerful FarmLens platform to proactively support sustainability of urban parks and public recreation spaces. We are pleased to be teaming with DPR and look forward to working with its managers to achieve their underpinning sustainability objectives.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news causes moves. In the case of AgEagle Aerial Systems, the news proved to be overwhelmingly positive.
After all, the company not only launched a new product, unlocking the door to a potential stream of revenue, it announced its first customer. So, it’s not surprising that excited investors are reacting by sending the stock up.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:41), UAVS is trading at $0.61 per share after a gain of $0.11 per share or 21.22% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on UAVS. In particular, we’re interested in following the story surrounding ParkView and the revenue growth it generates for the company and its investors. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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