Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
The latest announcement is out from Orbital Corporation Limited ( (AU:OEC) ).
Orbital UAV has secured an initial order worth about A$475,000 from Textron Systems to supply 25 power upgrade kits for the Textron Aerosonde 4.7 unmanned aerial vehicles currently deployed with the U.S. military. The kits, based on Orbital’s FlexDT technology, are intended to boost performance, reliability and efficiency of the Lycoming-built 75HFE engines that power this Group 3 UAV.
With an estimated 1,350 of these engines already in global service, the contract opens a potentially substantial follow-on revenue stream as the broader fleet is upgraded. Orbital is also in talks with Textron Systems about a wider upgrade program and the possible integration of an Orbital-manufactured 75cc engine in future Aerosonde 4.7 production, complementing its existing supply of 150HFE engines to the newer Aerosonde 4.8 platform and deepening its strategic role across multiple Textron UAS platforms.
The most recent analyst rating on (AU:OEC) stock is a Hold with a A$0.11 price target. To see the full list of analyst forecasts on Orbital Corporation Limited stock, see the AU:OEC Stock Forecast page.
More about Orbital Corporation Limited
Orbital Corporation, trading as Orbital UAV, is an Australian developer and supplier of propulsion systems for unmanned aerial vehicles, focusing on small military and tactical UAVs. The company designs engines and upgrade technologies, such as its patented FlexDT system, and supplies powerplants to major defence contractors including Textron Systems for their Aerosonde platforms used by the U.S. military.
YTD Price Performance: -21.43%
Average Trading Volume: 208,633
Technical Sentiment Signal: Sell
Current Market Cap: A$20.59M
See more data about OEC stock on TipRanks’ Stock Analysis page.