![]() Last quarter, AgEagle reported that revenues grew 751% year-over-year. Even if the business grows as planned, it’s going to take a while for everything to come together. Still, take note of the company’s modest size. This should give it some runway as it seeks to expand its operations. Not surprisingly, subsequently to the past quarter, it raised $13 million dollars. To the company’s credit, it had less than $400,000 of total liabilities as well – so the company isn’t in dire financial straits. And the cash pile was rather unimpressive as well. Needless to say, it’s hard to run a competitive business with just $36,000 of equipment. When you drill down to hard assets, AgEagle had just $356,000 in cash, and $36,000 of property, plant, and equipment. That is to say, that’s value that it paid in acquiring assets, but which has no tangible worth today. Making matters worse, $3 million of those assets are goodwill. That’s a rather scant number for a company that currently has a market capitalization of $136 million. Make No Mistake: This Is A Small BusinessĪs of last quarter, AgEagle Aerial had just $4 million in overall assets. ![]() In addition to that line of business, AgEagle also intends to pursue package delivery drones. Drones can help farmers track a crop’s health and reduce the need for chemical usage in the farming process, among other benefits. Why are traders fascinated with the company? AgEagle focuses on agricultural drones that can fly over fields and help farmers with various monitoring tasks. 8 Cheap Stocks to Keep on Your Short List.Still, with the stock up at $3, AgEagle has retained most of its gains for the year. The company raised capital, and investors are awaiting further developments. Things have died back down a little since then. AgEagle’s stock spiked to as high as $5 a share, making for a 1,000% return from earlier in the year. With that shareholder letter, things went wild. He wrote a wide-reaching shareholder letter describing AgEagle’s new business ventures. In July, Drozd announced his vision for the company. He energized the shareholder base, and the stock surged to more than a dollar per share.
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