Alpine 4 Holdings Inc (NASDAQ:ALPP) has made a name for being one of the major owners and operators of small market businesses. Yesterday, the stock had come into significant focus among investors following a key announcement and ended the day with gains of 10%.
Trading Data
On Thursday, ALPP stock surged 10.50% to $1.69 with more than 1.24 million shares, compared to its average volume of 1.74 million shares. The stock has moved within a range of $0.1900 – 0.2149 after opening trade at $0.19.
Alpine 4 Holdings (ALPP) Subsidiary Quality Circuit Assembly, Inc. Secures $1.2 Million in New Purchase Orders
However, at the same time, it ought to be noted that despite the recover made by the Alpine 4 Holdings stock yesterday, the stock is still down by as much as 11% in the past month. Yesterday, the company announced that Quality Circuit Academy, its subsidiary, had managed to bag new purchase order to the tune of as much as $1.2 million.
The new orders further boosted its backlog for the month and took it to as much as $2.6 million. It was also announced that the new customers who placed the purchase orders to Quality Circuit Academy belong to a range of industries.
The customers include electric vehicle manufacturers, 3D printing companies, robotics firms and medical device manufacturing companies among others. Quality Circuit noted that it had managed to bring about growth due to the trust placed in it by its long term and loyal customers.
Key Quote
QCA’s President, Tim Garcia, commented, “Our continued growth is due to a combination of our long-term loyal customers, in addition to the newly acquired ones. Alpine 4 corporate has consistently supported the reinvestment of capital back into cutting edge, new equipment helping us to maintain our competitive edge here in the Valley. Our new state-of-the-art equipment has allowed us to not only win over new customers but has given us the capacity to fulfill larger orders. We will continue to garner new clientele with our reputation for high-quality PCB work.”
Technical Data
ALPP stock is below the 20-Day and 50-Day Moving averages of $1.85 and $2.32 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.98. The stock is down 20% in the past month.
