Stock Track | Electro Optic Systems Holdings Soars 13.61% on $45 Million Counter-Drone Orders
Stock Track
Mar 13
Electro Optic Systems Holdings' stock surged 13.61% during intraday trading on Friday, following the announcement of significant new defense contracts.
The company secured two new unconditional orders for counter-drone systems totaling $45 million. This includes a $42 million order for its Slinger Remote Weapon System from an established Middle Eastern customer and a $3 million order from a US defense contractor for integration into a counter-drone weapon system.
These substantial new orders are expected to positively impact the company's revenue and production schedules for 2026 and 2027, though the larger order still requires export approvals from Australia and the US.
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