AeroVironment shares rise 9.74% after announcing new defense contract
Key Facts
AeroVironment shares rose 9.74% at the time of an Investing.com report carried by Reuters on November 9, after the company announced it had won a new defense contract. The company said the contract falls within its autonomous systems segment, while the available official statement did not give a figure for the share move. The announcement comes as market interest grows in unmanned aerial systems and counter-drone contracts. Available closing data for earlier sessions show the stock at $112.76 on November 6. It had closed at $123.08 on November 2, putting the move reported on November 9 after an earlier decline in daily closing prices.
Ondas shares closed at $5.34 on November 6, compared with $5.75 on November 2. On November 4, the company announced multimillion-dollar contracts with government entities in Europe and Asia for counter-drone systems. It said the European contract includes portable Ranger systems for a police organization, while the Asian contract includes Iron Drone Raider autonomous interception systems. The announcements show the range of demand the company is targeting across detection, countering and interception systems. However, the earlier closing data do not specify the stock's move in the November 9 session.
Ondas is due to report results for the third quarter ended September 30, 2026, before its conference call on November 12 at 8:30 a.m. Eastern Time. The company said it will issue the results statement before the call. The date follows its November 5 announcement of a definitive agreement to acquire all of Germany's Stemme for cash; Stemme manufactures the ULTRA aircraft airframe. Ondas links the deal to plans to expand production and manufacturing in the United States. The acquisition is expected to close in the first quarter of 2027, subject to customary closing conditions and regulatory approvals.
Ondas is targeting production of 10 ULTRA aircraft per month by 2028 and plans a 345,000-square-foot U.S. production facility. It said Stemme's facilities are currently operating at about 25% of production capacity. The company describes the ULTRA aircraft as operationally deployed by the U.S. Air Force and capable of flying for more than 70 hours with a payload exceeding 400 pounds. Red Cat, meanwhile, reaffirmed in its second-quarter results statement its fiscal 2026 revenue target of $150 million to $180 million. Its second-quarter revenue was $20.189 million, compared with $3.219 million in the same period of 2025.