October 23, 2024 (Globalinvestorideas.com Newswire) Globalinvestorideas.com, a go-to platform for big investing ideas, including drone and UAV/UAS stocks reports on trading and news for AgEagle Aerial Systems Inc. (NYSE: UAVS) a leading provider of best-in-class unmanned aerial systems (UAS), sensors and software solutions for customers worldwide in the commercial and government verticals.
The stock is trending, trading at $2.3800, up 0.7000 , gaining 37.5000% on volume of over 71 Million shares as of this report. The stock has a day’s range of 1.7201 – 3.9700.
Yesterday AgEagle Aerial issued a Letter to Stockholders from Company CEO Bill Irby.
First, I want to extend my appreciation for the trust and confidence you have placed in AgEagle. Upon taking over as CEO from Grant Begley (former interim CEO and current Board Chairman), we have been evolving and advancing AgEagle toward the creation of maximum long-term shareholder value.
To fund our aggressive growth plans, we recently completed a $6.5M capital raise. The market’s reaction was a continued decline in our stock price. It became necessary to plan and execute a 50:1 reverse stock split. Our trading was halted October 4th but has since resumed, and I am truly optimistic regarding the path ahead as I believe that the company is currently under-valued for the following reasons:
AgEagle has made tremendous operational progress.
Not only did we win the two largest orders in company history, totaling $5.5M for the French Army and UAE security forces, but we are now fulfilling the final deliveries required under those orders, with follow-on orders pending.
We signed a teaming agreement with a large, well-known company for a major European competition.
We implemented new KPI’s for regular progress measurement, to enable measured decisions, balancing quality and speed in our production. These KPI’s include measures such as on-time delivery statistics, inventory goals, and quality metrics.
We enacted a new sales, inventory, and operations planning (SIOP) process to align cross-department efforts for the best outcomes.
We introduced a new Enterprise Resource Planning software tool within our US operations, and created a new e-commerce website (https://store.ageagle.com/).
We are currently undergoing an ISO-9001 recertification of our engineering, UAV production and distribution operation (expected completion in Q1 2025).
Recent news
https://finance.yahoo.com/news/ageagle-aerial-systems-ceo-issues-131500810.html
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