One of the tech stocks that emerged as a significant gainer on Wednesday was Borqs Technologies Inc (NASDAQ:BRQS), which ended the day with gains of as much as 15%.
Trading Data
On Wednesday, BRQS stock gained 10% to $0.1914 with more than 107.70 million shares traded, compared to volume of 35.35 million shares. The stock moved within a range of $0.1870 – 0.2300 after opening trading at $0.2085.
Borqs Technologies Wins Solar Plus Energy Storage Contract in Oahu, Hawaii Partnering with a State Agency, the Hawaii Green energy Infrastructure Authority (HGIA)
The company, which is involved in IoT (internet of things), 5G wireless solutions, and clean energy, announced with regards to its solar and energy storage subsidiary unit Holu Hoi Energy LLC. It was announced that the subsidiary went into a partnership with Hawaii Green Energy Infrastructure Authority, the state agency, and was going to supply solar plus energy storage units to the affordable housing community in Kunia Village. The community is situated on Oahu island.
The announcement was a significant one from the company and one that led to a ripple of excitement among investors. It is easy to see why investors were excited. It was a major milestone for Borqs Technologies as it tries to become one of the major players in the renewable energy space. On a more specific level, the company is kept to become in the Multi-Unit Residential Building niche and this could well turn out to be the start it was looking for.
Technical Data
BRQS stock is trading below the 20-Day and 50-Day Moving averages of $0.21 and $0.24 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.46.
