Endonovo Therapeutics (OTCMKTS:ENDV) Stock Soars After Announcing LOI to Acquire Specialty Construction Company

Over the course of the past weeks, the Endonovo Therapeutics (OTCMKTS:ENDV) stock has been in the middle of a major rally and it may now be a good time for investors to analyze the company a bit more closely. The rally in the stock continued on Thursday, as it ended the day with gains of as much as 20%, and that took the total gains generated over the course of the past month to as much as 85%. In light of such remarkable gains, many investors are likely to keep the stock on their watch lists.

Trading Data     

On Thursday, ENDV stock moved up 19.60% to $0.0149 with more than 2.3 million shares, compared to its average volume of 173K shares. The stock moved within a range of $0.0099 – 0.0168 after opening trading at $0.0100.

About Endonovo Therapeutics

Endonovo is involved in the development of a non-invasive wearable electroceutical therapy device. The devices that are manufactured by the company are meant for helping with wound curatives, pain relief, and wellness.

It should be noted that SofPulse, which is one of the flagship products of the company, has already got clearance from the United States Food and Drug Administration. Now that you have an idea about the sort of work that Endonovo actually does, it could be a good time to look into some of the recent developments in order to have a better idea about what has been going on at the company.

As a matter of fact, on Thursday, the company had in fact come into focus after it made an announcement with regards to a potential acquisition.

Endonovo Therapeutics Announces LOI to Acquire Specialty Construction Company

Endonovo announced that it had inked a letter of intent for the acquisition of one of the leading concrete services companies. The company is based out of the South Eastern region of the United States and had generated unaudited revenues to the tune of as much as $47.7 million in the 2021 fiscal year. On the other hand, the EBITDA earnings stood at $5.3 million. The growth in terms of CAGR has been quite spectacular since 2018. In 2018, the concrete services company had managed to generate revenues of only $9.5 but in the 2021 fiscal year it jumped to $47 million, which reflects a CAGR of a whopping 106%. Hence, it could be said that Endonovo could end up acquiring a company of significant potential.

“We are moving ahead with our previously-announced ‘Build Up Strategy’ of acquiring specialty service providers in the construction industry to provide an anticipated steady stream of sales and earnings to complement our expected periodic influx of same from our medical devices and IP,” according to Endonovo CEO Alan Collier.

“We expect that the completion of the LOI to acquire the highly profitable and market-leading target company will establish Endonovo’s standing as a successful holding company by delivering long-term fundamental shareholder value for investors,” Collier said.

Technical Data

ENDV stock is trading above the 20-Day and 50-Day Moving averages of $0.0106 and $0.0139 respectively. However, the stock is trading below the 200-Day moving average of $0.0189.