AgEagle Aerial Systems Inc. [UAVS] fell -58.85% so far this year. What now?


AgEagle Aerial Systems Inc. [AMEX: UAVS] gained 2.56% or 0.02 points to close at $0.65 with a heavy trading volume of 3945639 shares. The company report on June 30, 2022 that CORRECTING AND REPLACING: AgEagle Aerial Systems Announces Pricing of $10 Million Registered Direct Offering.

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AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full-stack drone, sensor and software solutions for commercial and government/defense use, today announced that, it has entered into a securities purchase agreement with an institutional investment firm (the “Investor”), which is an existing AgEagle shareholder. Pursuant to the agreement, the Investor will purchase 10,000 shares of Series F 5% Convertible Preferred Stock (the “Series F Convertible Preferred”) and warrants to purchase up to 16,129,032 shares of common stock at an exercise price of $0.96 per share (the “Warrants”), for gross proceeds of approximately $10 million. The Series F Convertible Preferred will be convertible into 16,129,032 shares of the Company’s common stock at a conversion price of $0.62 per share. The Warrants are not exercisable for the first six months after issuance and have a three-year term from the exercise date. Upon exercise of the Warrants in full by the Investor, the Company would receive additional gross proceeds of approximately $15.5 million. A certificate of designation setting forth the terms, dividends, rights and other privileges of the Series F Convertible Preferred will be filed with the Secretary of State of the State of Nevada. The Investor has the right, subject to certain conditions, including shareholder approval, to purchase up to $25,000,000 of additional shares of Series F Convertible Preferred and warrants. That option will be available for a period of 18 months after shareholder approval at a purchase price equal to the average Volume Weighted Average Pricings (“VWAPs”) for three trading days prior to the date the Investor gives notice to the Company that it will exercise the option.

The Company expects the net proceeds from the offering to be approximately $9.92 million after deducting approximately $80,000 in offering expenses. The Company expects to spend the balance of the proceeds for general working capital and capital expenditure purposes. The offering is expected to close on or about June 29, 2022, subject to the satisfaction of customary closing conditions.

It opened the trading session at $0.62, the shares rose to $0.66 and dropped to $0.61, the range by which the price of stock traded the whole day. The daily chart for UAVS points out that the company has recorded -57.77% loss over the past six months. However, it is still -12.07% lower than its most recent low trading price.

If we look at the average trading volume of 2.22M shares, UAVS reached to a volume of 3945639 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about AgEagle Aerial Systems Inc. [UAVS]:

The Average True Range (ATR) for AgEagle Aerial Systems Inc. is set at 0.08, with the Price to Sales ratio for UAVS stock in the period of the last 12 months amounting to 4.56. The Price to Book ratio for the last quarter was 0.64, with the Price to Cash per share for the same quarter was set at 0.11.

Trading performance analysis for UAVS stock

AgEagle Aerial Systems Inc. [UAVS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.78. With this latest performance, UAVS shares dropped by -17.19% in over the last four-week period, additionally sinking by -57.77% over the last 6 months – not to mention a drop of -87.74% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for UAVS stock in for the last two-week period is set at 42.08, with the RSI for the last a single of trading hit 41.61, and the three-weeks RSI is set at 42.42 for AgEagle Aerial Systems Inc. [UAVS]. The present Moving Average for the last 50 days of trading for this stock 0.7785, while it was recorded at 0.6586 for the last single week of trading, and 1.5871 for the last 200 days.

AgEagle Aerial Systems Inc. [UAVS]: A deeper dive into fundamental analysis

AgEagle Aerial Systems Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.20.

An analysis of insider ownership at AgEagle Aerial Systems Inc. [UAVS]

There are presently around $12 million, or 21.70% of UAVS stock, in the hands of institutional investors. The top three institutional holders of UAVS stocks are: BLACKROCK INC. with ownership of 4,610,269, which is approximately 1.424% of the company’s market cap and around 0.70% of the total institutional ownership; MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., holding 2,811,724 shares of the stock with an approximate value of $1.82 million in UAVS stocks shares; and STATE STREET CORP, currently with $1.81 million in UAVS stock with ownership of nearly 1.603% of the company’s market capitalization.

Positions in AgEagle Aerial Systems Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 32 institutional holders increased their position in AgEagle Aerial Systems Inc. [AMEX:UAVS] by around 2,508,665 shares. Additionally, 50 investors decreased positions by around 5,866,204 shares, while 23 investors held positions by with 10,301,928 shares. The mentioned changes placed institutional holdings at 18,676,797 shares, according to the latest SEC report filing. UAVS stock had 13 new institutional investments in for a total of 471,200 shares, while 20 institutional investors sold positions of 1,012,655 shares during the same period.