Parrot Shares Surge Nearly 17% Following Drone Contract with Finland
Parrot's stock soared on Tuesday at the Paris Stock Exchange, driven by the announcement of a significant military contract with the Finnish Defense Forces. The stock recorded a gain of 16.72% at 7.96 euros by midday, extending a weekly rally of more than 43%.
Significant Contract Boosts Parrot's Market Performance
The remarkable rise of Parrot's stock this Tuesday originates from a press release published in the morning. The French specialist in civilian and military drones revealed that the Finnish armed forces had placed an order for ANAFI UKR micro-drones, aimed at enhancing their intelligence, surveillance, and reconnaissance capabilities. The initial deliveries are set to begin in early 2026, with a total contract value of approximately 15 million euros including taxes. This new venture into the European defense sector marks a significant commercial milestone for the group led by Henri Seydoux. It demonstrates Parrot's growing presence in the military segment at a time when several countries on the continent are accelerating their small-sized drone equipment programs. The announcement comes one month ahead of the scheduled release of the annual 2025 results on March 27, an event that will allow for an assessment of these new contracts' contribution to the group's financial trajectory.
Technical Breakthrough in Stock Price
With a price of 7.96 euros, Parrot has significantly surpassed its 50-day moving average, which stands at 7.46 euros. This technical breakthrough is particularly notable as the stock was still below its 20-day moving average (6.55 euros) a few sessions ago. The stock is now approaching its identified resistance at 8.24 euros, a threshold whose potential crossing could redefine the short-term graphical dynamics. The RSI, an indicator measuring the rate of price changes, is at 43, still distant from the overbought zone despite the magnitude of the recent rebound. This moderate positioning reflects that the rise follows a period of pronounced correction: over three months, the stock still shows a decline of 2.45%, while its 200-day moving average, at 8.68 euros, remains above the current price. Nonetheless, the performance over one year remains significant, with an increase of nearly 72%.
