In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down 0.2% to 8,736.4 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
DroneShield Ltd (ASX: DRO)
The DroneShield share price is up 17% to $3.70. Investors have been buying this counter drone technology company's shares since the release of its second quarter update on Wednesday. In addition, this morning, Bell Potter upgraded DroneShield's shares to a buy rating with a $3.80 price target. It said: "DRO is well positioned to continue its strong performance having secured $176.3m in revenue for delivery in CY25 at 22-Jul-25, which represents ~90% of our full-year forecast ($195.4m), and a cash balance of $192m at 24-Jul-25. The company has identified a robust sales pipeline of $2.3b, with the majority of opportunities relating to Europe (43%) and the US (29%)."
Electro Optic Systems Holdings Ltd (ASX: EOS)
The EOS share price is up 7% to $3.26. The catalyst for this has been the release of the defence and space company's second quarter update. EOS reported receipts from customers of $78.1 million for the three months. This is $55.5 million higher than the first quarter of FY 2025 and was largely driven by the finalisation of a contract with a customer in the Middle East. Management also revealed that its contract backlog was $170 million at the end of June. This is a $34 million or 25% increase since the end of December.
Larvotto Resources Ltd (ASX: LRV)
The Larvotto Resources share price is up 4.5% to 80.5 cents. This morning, this gold developer revealed that a final investment decision (FID) has been reached, which paves the way for the development of the Hillgrove Antimony-Gold Project in New South Wales. Managing Director Ron Heeks commented: "Approving this FID represents a landmark moment in the development of our Hillgrove Project. […] Larvotto is proud to be playing an important role in growing Australia's critical minerals sector by developing Hillgrove, which is expected to be the only new source of antimony to come online outside of China within the next four years."
Life360 Inc (ASX: 360)
The Life360 share price is up 3% to $40.12. Investors have been buying this location technology company's shares despite there being no news out of it. However, with the tech-heavy Nasdaq index expected to jump on Wall Street on Friday after impressive results from a number of tech giants, it seems that investors are getting ahead of the curve on the local market on Thursday.
The post Why DroneShield, EOS, Larvotto, and Life360 shares are racing higher today appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended DroneShield, Electro Optic Systems, and Life360. 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 Scott Phillips.
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