Date : 08/02/2021

Why did DroneShield’s share price climb today?

DroneShield is a defence contractor that provides protection against drones threatening safety, security and privacy. This morning, the firm revealed their next generation new artificial intelligence software to all their existing customers via an update.

Droneshield has rolled out its first fully machine learning/artificial intelligence based detection and classification software for all their existing customers. The software is being used for near real-time detection and identification of unmanned robotic systems that pose threats in the Electronic Warfare fields.

Droneshield’s technology is known to be a very lightweight machine learning architecture that is designed to run on low power FPGA (Field Programmable Gate Array) hardware. This is a massive advantage as it means that it can last longer in the field and perform well in environments that are air-gapped and power scarce. Their technology and advancements makes DroneShield one of the top ASX tech stocks.

DroneShield Share Price

DroneShield share price rose close to 3% this morning on the back of this announcement. The stock has recovered well over the past few months, however, it is still trading close to 20% off its highs that were seen prior to the March 2020 crash. Amid roday’s rise in stock price, DroneShield shares trades at $0.175 a share, demanding a market capitalisation of $66 million.

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