Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Orbital Corporation Limited ( (AU:OEC) ) has shared an announcement.
Orbital Corporation Ltd reported a positive quarterly cash flow with receipts from customers reaching $4.2 million and net cash generated from operations at $0.7 million. The company completed a capital raising of $3.0 million and has a closing cash balance of $3.7 million. A significant milestone was achieved with the development of a new 350cc heavy fuel engine, designed to meet the rising demand for larger capacity engines due to increased payload requirements and regulatory changes. Orbital UAV plans to manufacture 10 engines next quarter to meet initial customer demand. The company is strategically positioned with a range of heavy fuel engines to support UAV payloads up to 250kg, and it remains involved in the U.S. Army’s UAV fleet modernization efforts.
The most recent analyst rating on (AU:OEC) stock is a Hold with a A$0.50 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 Ltd, also known as Orbital UAV, is a leader in Integrated Propulsion Systems for the unmanned aerial vehicle market. The company focuses on designing, manufacturing, and supporting high-performance engine systems for Group 2 and 3 Tactical UAVs, which are used in surveillance and logistics operations. Orbital UAV aims to expand its customer base by leveraging proprietary technology and aligning with the global defense and emerging commercial markets.
Average Trading Volume: 1,018,164
Technical Sentiment Signal: Hold
Current Market Cap: A$32.23M
For detailed information about OEC stock, go to TipRanks’ Stock Analysis page.