Yesterday, Aurora Solar Technologies Inc (OTCMKTS:AACTF) was in the news after it decided to release an update with regards to Insight Essentials and also revealed new information regarding a range of strategic initiatives.
On Monday, AACTF stock moved down 10.42% to $0.0750 with more than 567k shares, compared to its average volume of 96k shares. The stock moved within a range of $0.0700 – 0.0774 after opening trade at $0.0774.
While the updates provided by Aurora Solar Technologies were important ones, it did not lead to any boost for its stock, which crashed by as much as 10% for the day. The company noted yesterday that it had been successful in concluding the initial evaluation of its Insight Essentials product. The product validation requirements of the same had also been completed by Aurora Solar Technologies.
It was a major announcement from the company since the aim of the project was to make Insight Essentials ready for the market. It could be said that now that the evaluation process is complete, the product could be in a position to be eventually sent into the market.
While the announcement was a significant one for Aurora Solar Technologies, it did not lead to any optimism among investors and hence, the stock suffered from a heavy selloff. It is going to be interesting to see if the stock can now manage to actually make a comeback.
“We are pleased to validate that Insight Essentials can provide a clear advantage in the core function of tool tracing, with superior data reliability, utility and cost-effectiveness. Insight’s platform unlocks value through all aspects of plant operation from material routing to fault detection and correction to maintenance procedures to optimize the quality of manufactured solar cells,” said Gordon Deans, Aurora’s Chief Executive Officer.
AACTF stock is below the 20-Day and 50-Day Moving averages of $0.0882 and $0.1011 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1745. The stock is down 29% in the past month.