JOBY to BLDE: Five drone stocks under US$10 to explore in June

Highlights

• Drones are unmanned vehicles used in a variety of tasks such as traffic navigation, weather monitoring, search and rescue, photography, videography, defense, etc. 
• Currently, there are 855,179 registered drones in the US, including 316,860 commercial and 534,701 recreational drones. 

Drones, also called unmanned vehicles, were considered fiction until a few years ago. But today, they are used for various tasks, from defense, traffic navigation, and weather monitoring to search-and-rescue and photo- and-videography. 

According to the Federal Aviation Administration (FAA), there are currently 855,179 registered drones in the US, including 316,860 commercial and 534,701 recreational drones. Drones were initially used for defense purposes, but their new use cases evolved over time. 

Many companies now use drones to enhance their services, including goods delivery to people’s doorsteps. Drone stocks are companies that manufacture these unmanned vehicles. Here, we discuss five drone stocks valued at less than US$10.

Joby Aviation, Inc. (NYSE:JOBY)

Closing Price on May 16, 2022: US$5.49

Santa Cruz, California-based Joby Aviation Inc is a transportation company focused on developing all-electric vertical take-off and landing aircraft. It aims to operate a quiet, fast, and convenient air-taxi service. The company was founded in 2009. It has over 1,000 employees.

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For the three months ended March 31, 2022, it posted a net loss of US$62.3 million compared to US$41.5 million in the previous year’s March quarter. The net loss per share diluted was US$0.11 and US$0.37 for the March quarter of 2022 and 2021, respectively. 

Joby stock has a market capitalization of US$3.32 billion. It traded in the range of US$14.33 to US$3.612.2 in the last 52 weeks. 

On Tuesday, it traded at US$5.56, up 1.28% at 8:07 am ET in the premarket.

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Blade Air Mobility, Inc. (NASDAQ:BLDE)

Closing Price on May 16, 2022: US$6.63

Blade Air Mobility Inc is a technology-powered air mobility company headquartered in Brisbane, Australia. The company provides cost-effective air transportation alternatives to some of the most congested routes in the US and overseas. 

Its revenue increased by 187% to US$26.6 million YoY for the first quarter ended March 31, 2022. The revenue was US$9.27 million in the same quarter the previous year.

The net loss was US$11.01 million or US$0.16 per share diluted compared to US$4.22 million or US$0.16 per share diluted in Q1, 2021. 

BLDE stock’s market capitalization is US$469.9 million. It traded in the range of US$11.99 to US$5.32 in the last 52 weeks. 

BLDE stock traded at US$6.76 with 1.96% gains at 10:17 am ET on Tuesday.

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EHang Holdings Limited ADS (NASDAQ:EH)

Closing Price on May 16, 2022: US$7.62

EHang is an autonomous aerial vehicle (AAV) technology company. It aims to make autonomous, safe, and eco-friendly air mobility accessible. Its commercial solutions include urban air mobility, smart city management, and aerial media solutions.

For fiscal 2021, its total revenues were RMB56.8 million (US$8.9million) compared to RMB180.1 million in 2020. The net loss was RMB313.9 million (US$49.3 million) compared to RMB92.0 million in 2020. The net loss per share diluted was RMB5.56 (US$0.88) for fiscal 2021.

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It expects revenue to be between RMB190 million and RMB210 million in fiscal 2022. EH stock has a market capitalization of US$436.9 million. It traded in the range of US$47.38 to US$6.64 in one year. The stock was up 6.96% to US$8.15 at 8:07 am ET in the premarket on Tuesday.

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GoPro, Inc. (NASDAQ:GPRO)

Closing Price on May 16, 2022: US$6.89

GoPro Inc manufactures drones, cameras and other related equipment. The San Mateo, California-based company operates in the US, Europe, Africa, the Middle East, and the Asia Pacific.

GoPro posted revenue of US$216.7 million, up 6% YoY, for the quarter ended March 31, 2022, compared to US$203.7 million in the same quarter a year ago.

The net income came in at US$5.69 million or US$0.04 per share diluted, compared to a net loss of US$10.17 million or US$0.07 per share diluted in the March quarter of 2021. Its subscribers grew 85% YoY to 1.74 million in Q1 of 2022.

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The GPRO stock has a market capitalization of US$1.08 billion. It traded in the range of US$12.97 to US$6.28 in the last 52 weeks. The stock has a P/E ratio of 2.9 and a forward P/E for one year of 9.70. 

The stock traded at US$6.98, up 1.31%, at 8:08 am ET on Tuesday.

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Eve Holding, Inc. (NYSE:EVEX)

Closing Price on May 16, 2022: US$7.63

Eve Holding, Inc., formerly Zanite Acquisition Corp., aims to accelerate the Urban Air Mobility (UAM) ecosystem. The company claims to take a holistic approach to the UAM ecosystem, with robust air traffic management, advanced eVTOL, and a comprehensive global services and support network. The company offers UAM fleet operations and services.

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Zanite announced completing the business combination with Eve UAM, LLC on May 9 and changed its name to Eve Holding, Inc, which started trading on NYSE on May 10, 2022.

For the three months ended March 31, 2022, Zanite’s net income was US$5.39 million or US$0.19 per share diluted compared to US$11.75 million or US$0.41 per share diluted in the previous year.

The EVEX stock has a market capitalization of US$2.05 million. It traded in the range of US$11.62 to US$5.68 in the last 52 weeks. The stock was up 4.19% to US$7.95 at 8:08 am ET in the premarket on May 17. 

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Bottom line:

The Federal Aviation Administration (FAA) had lowered the barriers for drone operations in 2016 under the provision of FAA Part 107, giving a huge boost to the sector.