Australia's Elsight sees best day in 11 months on collaboration with DroneUp

Elsight

13/01/2022 01:58

** Shares of Elsight Ltd  ELS.AX  jump as much as 15.4% to
A$0.450, posting their biggest intraday pct gain since Feb. 17,
2021
    ** Co, which develops advanced communication technologies,
says https://www.asx.com.au/asxpdf/20220113/pdf/454yt7vqk67rtd.pdf
 a commercial order has been received and delivered under a
collaboration with DroneUp, a U.S.-based drone flight services
provider
    ** Commercial order includes co's "Halo" bonded connectivity
solution for controlling drones beyond the visual line of sight
(BVLOS) used for commercial parcel deliveries  
    ** Adds that the order is equivalent to about 80% of 1H 2021
revenues for Elsight
    ** Stock hits highest level since Oct. 25, 2021
    ** More than 1 mln shares have changed hands, compared with
the 30-day average of ~86,000 shares 
    ** ELS up ~2.6% YTD, as of last close 
    

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))