What's with the Aerometrex (ASX:AMX) share price today?

The Aerometrex Ltd (ASX: AMX) share price is treading lower today despite the company announcing a new product solution. Here's the details.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Aerometrex Ltd (ASX: AMX) share price is trading relatively flat today despite the company announcing the online opening of its MetroMap Store. At the time of writing, the aerial mapping company's shares are up 0.45% to $1.105.

Let's take a closer look and see what Aerometrex updated the ASX market with.

Questioning asx share price represented by investor with question mark bag over face

Image source: Getty Images

New product solution

The Aerometrex share price is faltering today as investors appear unfazed by the company's positive update.

According to this morning's release, Aerometrex advised that it has launched its online MetroMap 3D Store. Targeted to small-to-medium sized businesses (SME), the new offering allows customers to access Aerometrex's off-the-shelf 3D modeled data. This presents an attractive opportunity for the company as it had not previously addressed the lucrative SME market.

Prior to the opening of the MetroMap 3D Store online, customers could only access 2D imagery and 3D model data. This occurred through a subscription. However, users are now able to define geographical locations and select their preferred data format when purchasing the 3D datasets. This is then quickly sent electronically helping the customer make informed decisions.

Aerometrex stated that its clients will have access to the most recent data on file. Additionally, they will be notified when new updates are available.

What did the managing director say?

Aerometrex managing director Mark Deuter commented:

This new product solution by Aerometrex meets the requirements of the Company's customers at their time and point of need and supports us to truly penetrate the large SME market opportunity with a no-touch sales approach. The launch of our MetroMap 3D Store builds on the release of our MetroMap LiDAR data which is also available for purchase on-line.

We see further avenues to enhance our product offering, with a development path to offer Digital Terrain Model and Digital Surface Model data on the same online store, as well as Artificial Intelligence-derived analytics.

Aerometrex share price snapshot

The Aerometrex share price has fallen heavily in the past 12 months, losing close to 40% of its value. The company's shares hit an all-time low of 70 cents in March 2020 before rebounding to $1.84 in May. However, since then, its shares have continued to trend lower, reflecting concerns about its current operating environment caused by COVID-19.

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Share Market News

Testing again

Read more »

Share Market News

Aaron Test 2

Read more »

Share Market News

Aaron Test

Read more »

Share Market News

JP Test

Read more »

Share Market News

JP Test

Read more »

Portrait of Discovery Fund portfolio managers Mark Devcich and Chris Bainbridge
Share Market News

Test

Portfolio managers Mark Devcich (left) and Chris Bainbridge. Image source: Discovery Fund test test

Read more »

a man in a hoodie grins slyly as he sits with his hands poised on a keyboard. He is superimposed with a graphic image of a computer screen asking for a password, suggesting he is a hacker.
Share Market News

Another ASX 200 company has been hit with a cyber incident. Here's what we know

Hackers have breached the systems of this ASX 200 company.

Read more »

a woman
Broker Notes

5 ASX 200 shares that inflation can't touch: expert

Regardless of whether you're a bull or a bear, cost pressures are a factor when buying stocks at the moment.

Read more »