AeroVironment (NASDAQ: AVAV) Supplies Laser Weapon Systems for Counter-Drone Defense
Key points
- AeroVironment secured a $405 million international order for its LOCUST X3 laser weapon systems.
- Raymond James reiterated an Outperform rating for AeroVironment.
- AeroVironment's shares rose 2% to $125.41 following the order announcement.
AeroVironment (NASDAQ: AVAV) supplies laser weapon systems for counter-drone defense. Raymond James reiterates its Outperform rating when AeroVironment trades at $124.40.
AeroVironment announces a $405 million international direct commercial sales order for its LOCUST X3 high-energy laser weapon systems. The order expands counter-drone capabilities in the Middle East amid escalating regional security threats, as highlighted by Business Wire.
AeroVironment shares rise 2% to $125.41 in afternoon trading on November 11 after the order announcement. The move follows a 3% decline on November 10 amid a broader sell-off in drone and defense-technology shares, as highlighted by 247 Wallst.
At the $124.40 price cited with the Raymond James rating, AeroVironment is up $0.90, or 0.73%. Its intraday range is $123.84 to $127.68, while its 52-week range is $100.40 to $408.25. Market capitalization is about $6.32 billion, and trading volume is 1.09 million shares.
