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Drone Shield Limited (ASX:DRO) is under the information technology sector and was founded in 2016. The headquarter of the company is situated in Elizabeth Street, Sydney, Australia. The company is a world leading in drone security technology provider. It also has an expertise in engineering and physics with vast experience in defence, intelligence, and aerospace. The company works to build countermeasures of unethical drone intrusions.
The company announced an order from a Central American government security agency for its DroneSentry drone mitigation system and DroneGun TacticalTM jammer products. The announcement, however, stated that the companyâs ability to fulfill the order was subject to approval by the relevant U.S. regulator. The company announced that the relevant U.S. government approval has now been granted to them.
The company clarified that only some of the companyâs potential orders require such approval as companyâs sale of few products do not need governmental approval, and sales of the companyâs restricted products also to several countries allied with the United States do not require such government approvals.
Oleg Vornik, the CEO of DroneShield commented that the drone misuse is a universal problem, and no one including the government or corporate civil infrastructure operator of any country is immune from its threat. The CEO cited an example of a recent attack at Gatwick Airport, where a malicious drone operator shut down Englandâs second largest airport for approximately 48 hours. This was done using an off the shelf consumer drone, causing substantial monetary loss and inconvenience to passengers. He mentioned that the company is excited to fulfill its first order in Central America.
Highlights, in recent months, for DroneShield:
- The company received an initial order for its counter-drone equipment from Zain following entry into an agreement for the Middle East with Zain. Zain has been one of the largest Middle Eastern telecom company.
- The company sold its anti-drone equipment to one of the largest Middle Eastern Ministries of defense.
- The company sold its portable drone jammers for the use of western governmental security agency.
- The company sold DroneGuns to Asian major national security agency.
- DroneSentry is the companyâs integrated multi-sensor drone detection and mitigation system. It has sold the DroneSentry as well as DroneGuns to a Central American government security agency.
- The company agreed to service Thalesâ anti-drone needs in Spain.
- United States Department of Défenseâs Asymmetric Warfare Group has evaluated the company products.
- The company has a Drone Sentinel, a multi-sensor drone detection system. The British military uses this at the Autonomous Warrior.
Let us view the performance of the Droneâs stock and the returns it has produced over the past few months. On December 27, 2018, Drone Shield Limited ended the session in green. The stock price of the company stood at A$0.180 per share which implies the rise of A$0.035 per share or 24.138%. The market capitalization of the company stood at $26.4 million and the stock price is trading towards the upward direction in the past one month. The stock opened at $0.160 with a dayâs high price of $0.180 and touched a low of $0.155. It has yielded a negative YTD return of 23.68% and produced (30.95%) return based on the past six months. The stock has a 52-week high price of $0.290 and a 52-week low of $0.100.
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