There was hardly any movement in the Atlantic Power & Infrastructure Corp (OTCMKTS:AWSL) stock on Tuesday and it traded within a range. However, the company was in fact in the news yesterday after it made an announcement with regards to its year on year sales and provided a shareholder update as well.
Trading Data
On Tuesday, AWSL stock went up 0.92% to $0.0655 with more than 32k shares, compared to its average Tuesday of 28k shares. The stock moved within a range of $0.0640 – 0.0730 after opening trade at $0.0670.
Atlantic Power & Infrastructure Reports 55% Year over Year Growth and Provides Shareholder Update
The company noted that although the COVID 19 pandemic had come as a hammer blow to its business, it had managed to generate strong growth in 2021. In 2021, total sales came in at $3619901 and that was considerably higher than the $2,331,657 in sales that it had generated in the 2020 fiscal year.
The sales figures reflected a year on year jump of as much as 55%. In addition to that, net income for the fiscal year had also gone up considerably to $224,152 and that was a major turnaround since in the 2020 fiscal year, Atlantic Power & Infrastructure had suffered a loss of as much as $1,117,198. That reflected a turnaround of a staggering 498% and it is going to be interesting to see if these figures lead to any excitement about the stock among investors in the coming days.
Technical Data
AWSL stock is trading below the 20-Day and 50-Day Moving averages of $0.063 and $0.068 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.082.
