Ageagle Aerial Systems (NYSEAMERICAN:UAVS) Shares Down 7.5% - Here's Why

Key Points

• Ageagle Aerial Systems stock fell by 7.5%, trading as low as $1.92 on Thursday, following a previous close of $2.14.
• Approximately 3.4 million shares were traded, indicating a 6% increase in volume compared to its daily average.
• Institutional investor DNB Asset Management AS acquired a new position, purchasing 119,082 shares valued around $125,000, raising institutional ownership to 10.89%.

Ageagle Aerial Systems, Inc. (NYSEAMERICAN:UAVS - ) was down 7.5% during trading on Thursday . The company traded as low as $1.92 and last traded at $1.98. Approximately 3,477,673 shares traded hands during trading, an increase of 6% from the average daily volume of 3,270,410 shares. The stock had previously closed at $2.14.

Ageagle Aerial Systems Trading Down 7.5%

The company has a current ratio of 2.82, a quick ratio of 1.68 and a debt-to-equity ratio of 0.01. The stock's 50 day moving average is $2.06 and its 200 day moving average is $1.44.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Ageagle Aerial Systems stock. DNB Asset Management AS purchased a new position in Ageagle Aerial Systems, Inc. (NYSEAMERICAN:UAVS - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 119,082 shares of the company's stock, valued at approximately $125,000. DNB Asset Management AS owned about 0.37% of Ageagle Aerial Systems as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 10.89% of the company's stock.

Ageagle Aerial Systems Company Profile

AgEagle Aerial Systems, Inc, through its subsidiaries, designs and delivers autonomous unmanned aerial systems worldwide. The company operates in three segments: Drones; Sensors; and Software-as-a-Service (SaaS). It offers unmanned aerial vehicles under the eBee Ag, eBee Geo, eBee TAC, eBee X, and eBee VISION brands; and sensor solutions, such as Altum-PT, RedEdge-P, Aeria X, Duet M, Duet T, S.O.D.A., and S.O.D.A.

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