The DroneShield Ltd (ASX: DRO) share price is climbing higher today. This comes after the company announced that it had deployed its recently updated next-generation software.
At the time of writing, the DroneShield share price is trading up 2.9% to 17.5 cents.
What did DroneShield announce?
In this morning’s release, the defence contractor started rolling out its newest artificial intelligence (AI) software to all existing customers’ systems.
Droneshield tested the machine learning/AI-based detection and classification software against unmanned robotic systems and other potential threats in electronic warfare fields. The company noted that it saw the updated software substantially improve on detection responsiveness and lower false positives. This led to faster speeds in detecting, classifying and tracking new threats from DroneShield systems.
The company highlighted its technological advantage through the use of lightweight machine learning architecture. Designed to run on low power FPGA (Field-Programable Gate Array) hardware, the system can operate in environments where power is limited. The chip can also operate far away from unsecured networks for long periods where security has been compromised.
The company stated that the new software package is compatible with all current DroneShield platforms. This includes RfPatrol, DroneSentry, and DroneSentry-X.
Words from the CEO
Commenting on the software, DroneShield CEO Oleg Vornik, said:
DroneShield customers receive regular software updates via enrolling into a Subscription-as-a-Service (SaaS) model at the time of purchase of their systems. Importantly, the software also has capabilities for deployment outside of the C-UAS space, on a hardware agnostic basis. DroneShield is currently engaging in such deployments with its Five Eye country military customers.
DroneShield share price review
Despite today’s rise, the Drone Shield share price is down almost 20% from 12 months ago.
The company’s shares took a steep dive in April, falling to an all-time low of 8.4 cents. Since then, its shares slowly began to turn around, moving on an upwards trajectory. However, in the last 6 months, the DroneShield share price has stabilised around the late teens.
Based on the current share price, the company has a market capitalisation of $68 million.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
More reading
- DroneShield (ASX:DRO) share price lifts on contract update
Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post Why the DroneShield (ASX:DRO) share price is climbing higher appeared first on The Motley Fool Australia.
from The Motley Fool Australia https://ift.tt/2LrJ3jI
Leave a Reply