DRO, QHL, EOS, ASB: Why are these ASX drone stocks in news today?

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DRO, QHL, EOS, ASB: Why are these ASX drone stocks in news today?

 DRO, QHL, EOS, ASB: Why are these ASX drone stocks in news today?
Image source: © Pavelmidi1968 | Megapixl.com

Highlights:

  • Defence stocks grabbed the attention of investors after Russian forces invaded Ukraine.
  • The shares of four ASX-listed defence stocks, DroneShield Limited, Quickstep, Electro Optic Systems Holdings Ltd., and Austal Limited, remained in news today (June 24).

Defence is an important subject for any country, and Australia is no exception. National security encompasses air, land, sea, space and cyber security.  Earlier this year, former Australian Prime Minister Scott Morrison had unveiled his plan to establish Australia’s first ever national space mission as part of its plan for a stronger future. This was seen as a historic move.

Morrison had stated that the investment specified in the budget this year would boost the defence budget above 2% of GDP, which will not only help keep Australians safe but also support local jobs and domestic industries.

 

defence stocks

Image Source: © Photoquest | Megapixl.com

 

In this article, we will discuss about four ASX-listed space & drone stocks that have been in the news lately. The four stocks include - DroneShield Limited (ASX:DRO), Quickstep (ASX:QHL), Electro Optic Systems Holdings Ltd. (ASX:EOS), and Austal Limited (ASX:ASB). 

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Read More: Lithium Australia (ASX:LIT) reinforces team with new appointments

 

DroneShield Limited (ASX:DRO)

The shares of DroneShield Limited traded flat at AU$0.190 per share on ASX at 2:08 PM AEST today. The shares of DroneShield Limited have gained almost 18.75% in the last one year, while the stock is up nearly 5.56% on year-to-date (YTD). The company has a market capitalisation of AU$82.18 million. DroneShield provides Artificial Intelligence (AI) based platforms for protection against advanced dangers like drones and autonomous systems.

 

Quickstep (ASX:QHL)

Quickstep shares traded 2.564% lower at AU$0.380 per share on ASX at 1:43 PM AEST today. Quickstep is Australia’s leading aerospace-grade composite manufacturer. The company has a market capitalisation of AU$27.97 million. The share price of Quickstep has fallen nearly 25.49% in the last one year, while the stock is down almost 15.56% on YTD. 

 

Electro Optic Systems Holdings Ltd. (ASX:EOS)

Shares of Electro Optic Systems Holdings Ltd. traded 7.922% higher at AU$1.532 per share on ASX at 3:42 PM AEST today. The share price of Electro Optic Systems Holdings Ltd. has fallen nearly 65% in the past one year, while the stock is down almost 35% YTD. Electro Optic Systems Holdings Ltd. is an ASX-listed Australian Defence and Space company with a market capitalisation of AU$214.29 million.

 

Austal Limited (ASX:ASB)

The share price of Austal Limited traded at AU$1.845 per share on ASX at 3:53 PM AEST today. Austal is an Australia-based global shipbuilder and defence prime contractor designing and constructing some of the world’s most advanced commercial and defence vessels. The ASX-listed defence exporter has industry-leading shipyards in Australia, the US, the Philippines and Vietnam, with service centres globally, including the Middle East.

The company has a market capitalisation of AU$667.62 million. 

In the last one year, Austal Limited share price has fallen nearly 10.44%, while the stock is down 6.82% on YTD. 

Read More: Gold Road (ASX:GOR) to buy remaining shares of DGO Gold (ASX:DGO)

 

 

Keywords: DroneShield Limited, Quickstep, Electro Optic Systems Holdings Ltd., Austal Limited

Meta description: After the Russia-Ukraine crisis, defence stocks garnered attention. Today, the share price of four ASX-listed defence stocks, DroneShield Limited, Quickstep, Electro Optic Systems Holdings Ltd., and Austal Limited, were on investors’ radar. 

 

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