Renewable energy is a sector that has got tremendous attention from investors in recent times and for good reason too. If you are currently looking into the possibility of looking into such a stock then you could consider tracking the Solar Integrated Roofing Corp (OTCMKTS:SIRC).
Trading Data
On Friday, SIRC stock soared 24.33% to $0.4262 with 15.45 million share, compared to its average volume of 2.17 million shares. The stock has moved within a range of $0.4200 – 0.5500 after opening trade at $0.46.
Earnings Recap
The company is involved in single source, integrated, solar power roofing systems installation and also has interests in the electric vehicle charging sector. Last Friday that stock had come into focus after Solar Integrated Roofing announced its financial results for the third fiscal quarter that had ended on November 30, 2021.
The results seemed to have enthused investors as well and the stock enjoyed a strong rally to end the day with gains of as much as 24%. In the third quarter, the company managed to bring in revenues to the tune of as much as $48.2 million and that worked out to a year on year rise of as much as 964% when compared to the revenues of only $4.5 million in the prior year period.
The massive jump in revenues may have led to the wave of optimism about the Solar Integrated Roofing stock on Friday. Investors could do well to keep an eye on it today.
Key Quote
“The third quarter of fiscal 2022 was highlighted by record revenue of $48.2 million, driven by seamless integration of our rapidly growing, high-margin acquisitions and our evolution into a truly national brand,” said David Massey, Chief Executive Officer of Solar Integrated Roofing Corporation.
Technical Data
SIRC stock is trading above the 20-Day and 50-Day Moving averages of $0.35 and $0.39 respectively. However, the stock is trading below the 200-Day moving average of $0.49.
