What's Going On With AgEagle Aerial Systems Stock Today?

AgEagle Aerial Systems Inc UAVS shares are soaring Thursday after the company announced new purchase orders from U.S. defense and security customers.

What Happened: AgEagle said it secured 17 new purchase orders for eBee TAC drones from U.S. defense and security customers. The company’s eBEE TAC drones provide tactical mapping capabilities.

“We are grateful to reach a pivotal milestone in the execution of our U.S. defense and security market growth strategy outlined previously in my letter to shareholders,” said Bill Irby, CEO of AgEagle.

“With the increasing demand for our eBee TAC drones, we are strategically positioned to lead in the Tactical Intelligence, Surveillance, and Reconnaissance (ISR) vertical. This demand fuels our commitment to developing innovative UAS platforms designed to solve complex operational challenges and close critical gaps in tactical ISR.”

Irby wrote a letter to shareholders last month outlining the company’s new mission of “reaching beyond to provide unmatched insights that enhance operations, safeguard communities and optimize productivity.”

The company narrowed its vertical markets from 11 to three, reshaped its portfolio of drones and initiated a size optimization project to “meet increasing demand.”

Irby noted that the company had already booked the purchase orders for the 17 eBee TAC drones in his letter last month.

“In conclusion, through a combination of our key initiatives, growing demand, and demonstrated progress in our newest market, I believe AgEagle is on the correct path to increase long-term shareholder value,” the AgEagle CEO said.

UAVS Price Action: AgEagle shares were up 115% at $3.46 at the time of publication, according to Benzinga Pro.

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