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AgEagle Aerial Systems Inc. ($UAVS) began introducing drones in 2010 to improve food production in the agricultural sector in an innovative way. The idea was born out of the vision that the need to produce food in a more efficient and responsible way will continue to exist. More specifically, AgEagle focuses on providing the metric data, tools and strategies needed to define and implement agricultural solutions. With today’s resources at its disposal, the company noticed a big future potential in launching a commercial drone delivery service. Meanwhile, this has led to wild speculation about a possible collaboration with Amazon. PSN visited the website of AgEagle and the LinkedIn profile of the CEO, searching for more information.
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Great idea, but how does the market react to this?
Over the past three months, the announcement to expand into package delivery drones has already attracted over 10.000 private investors. According to its own claims, a large e-commerce company has been enquiring about the realization of early orders. Soon after, the company announced that there were follow-up purchase orders, after the drones of the unknown business partner had been tested and refined for the commercial drone delivery service. Still a lot takes place behind closed doors and AgEagle seems to wait with the big news, until there is more certainty about the latest developments.
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Recently a shareholder letter brought the news that the established company in Neodesha, Kansas will expand with a new facility in Wichita, Kansas. This can be related to the latest developments with the production of drones for the commercial delivery service. Furthermore, speculations are circulating on the internet and in local newspapers, that it could be a partnership with Amazon. This is based on the Prime Air drone ambitions of Amazon and the news that they would also like to realise a new distribution site near Wichita, C.J. Jabara Airport.
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The share resembles a rollercoaster rather than a drone
On April 14, 2020, the company had a value of $0.34 per share. On April 15, 2020, the value skyrocketed to $1.07 per share – this is related to subsequent purchases received to manufacture commercial drones for parcel delivery. Thereafter, it declined, but barely recovered from the swing, on April 29, 2020, the share got up again to an incredible value of $2.30 per share – this can be traced back to the appointment of new CEO J. Michael Drodz. After a slight stagnation in the months of May and June, it is now climbing again at the end of July. With a peak of $3.42 per share on July 17, 2020, it currently stands at $3.14 per share. The share does not seem to have reached its peak yet. The latest increase is due to the wild speculations about a possible partnership with Amazon and the news that AgEagle will expand its production facilities in Wichita, Kansas (like Amazon).
What does AgEagle say about the expansion opportunity?
AgEagle mentions on its website that by the end of 2019 it started to realise expansion opportunities within the emerging Drone Logistics and Transportation market. The company does this by concentrating on the production, assembly and testing of drones. The devices must meet the specifications for delivery drones in order to be able to transport packaged goods in urban and suburban areas. AgEagle’s main focus according to the website is applying to productive farming approaches and supporting better farming practices through the use of “agricultural” drones and advanced technologies.
There’s a vacancy ‘Director of Production’ on the website for the new location in Wichita, Kansas. However, this says nothing about who the big e-commerce partner is. What is striking is that when looking for J. Michael Brodz on LinkedIn, many employers of Amazon and Prime Air are shown as related profiles. Unfortunately it is not possible to view the contact list of the CEO. So far, it is still too vague to draw any conclusions.
In addition, AgEagle started implementing a defined strategy for technology expansion in 2019. As a result, the market got introduced to the HempOverView – “A patented web and map-based technology solution designed to help U.S. state and territorial agriculture departments efficiently optimize oversight, compliance and enforcement of the new hemp-growing industry that is rapidly emerging in America.”
AgEagle has ensured that investors have achieved over 100% share returns in less than six months. This is of course worth mentioning. At the same time some caution is also in place, because Amazon is still just a speculation. If this turns out to be untrue, the share is likely to collapse.
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