|Bid||2.7600 x 29200|
|Ask||0.0000 x 4000|
|Day's range||2.7500 - 2.9000|
|52-week range||1.9400 - 17.6800|
|Beta (5Y monthly)||5.04|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Investors have now had 24 hours to digest the AgEagle Aerial Systems (NYSEMKT: UAVS) earnings report, and they still aren't finding much to get excited about. The maker of small, agriculture-focused drones burst onto the scene last year, going from penny stock status valued by the market at less than $10 million to a nearly $1 billion market capitalization at its high on rumors the company was working with Amazon on a retail delivery drone. This week's earnings report appears to have poured a cold dose of reality on those dreams about what the business could become.
Shares of agriculture drone manufacturer AgEagle Aerial Systems (NYSEMKT: UAVS) crashed and slipped 9.7% as of 1:30 p.m. EDT Tuesday. The fact is the market has solid reasons to be miffed despite AgEagle just delivering stupendous second-quarter numbers. First, AgEagle isn't growing organically, but rather is banking heavily on acquisitions for growth.
The Federal Aviation Administration (FAA) is moving forward with new rules designed to allow the use of drones in package deliveries, and that has drone stocks on the march higher. Shares of AgEagle Aerial Systems (NYSEMKT: UAVS), a company that has been in the spotlight a lot this year, shot up as high as 20% on Wednesday before giving back some of those gains as the day went on. In December, the FAA announced rules designed to address security and safety concerns for the unmanned aerial vehicles, including requiring remote identification technology to help keep track of who is flying what.