The past week has been a rather good time for investors in Applied Energetics Inc (OTCMKTS:AERG) as the company’s stock came into focus in a big way and ended up with gains of as much as 10% during the period. In light of such gains, it may be a good time for investors to perhaps figure out if the stock is going to be able to maintain the momentum and go on to clock further gains in the coming days or not.
Trading Data
On Monday, AERG stock moved up 0.43% to $2.31 with 33K shares, compared to its average volume of 90k shares. The stock moved within a range of $2.2900 – 2.3700 after opening trade at $2.29.
About Applied Energetics
The company is based out of the Technology Park at the University of Arizona, which is situated in the city of Tucson in Arizona. Applied Energetics is involved in the development and manufacturing of state of the art lasers which can deliver high level performance.
In addition to that, it is also involved in developing innovative optical systems and guided energy systems of an integrated nature. All these products are then offered to customers involved in the scientific files, aerospace, industrial sector and defense. It should also be noted that Applied Energetics is also in possession of the intellectual property rights with regards to the development of Laser Guided Energy technology.
Applied Energetics Appoints Chris Donaghey Chief Financial Officer and Chief Operating Officer
As a matter of fact, the company was in fact in the news yesterday that it had appointed a Chief Operating Officer and Chief Financial Officer in the form Chris Donaghey. The appointments are going to go into effect on August 1, 2022. It goes without saying that the appointment was a significant one for the company and is expected to have a profound effect on its operations going forward.
Donaghey is going to be responsible for the financial strategy at Applied Energetics in addition to its long-term business strategies, reporting, performance, investor relations, auditing operations, and treasury among others. It should be noted that Donaghey had previously worked in the capacity of an advisor to the company and hence, it could be said that he is possibly familiar with many aspects of Applied Energetics already. That may in fact work to his advantage as he gets into this high-powered dual role. In this regard, it may be a good idea for investors to take a closer look at the credentials of Donaghey as an executive and then have a better idea about the importance of the appointment.
He is a highly experienced executive who has worked in leadership roles for a long time. However, it is perhaps more important to note that he also holds a track record of bringing about profitable growth to companies for which it has worked. In addition to that, it is perhaps quite important to keep in mind that Donaghey holds considerable experience in having worked in the defense industry throughout the course of his career. Donaghey had been working with the government and defense agency technology integrating organization Science Applications International Corporation prior to accepting this particular appointment with Applied Energetics. It now remains to be seen if the stock can gain further traction over the coming days.
Key Quote
“As we work to advance the capabilities that will serve our customers throughout the 21st century, Chris’s leadership will be instrumental to our continued growth and performance,” said Dr. Gregory Quarles, President, and CEO at Applied Energetics.
Technical Data
AERG stock is trading below the 20-Day and 50-Day Moving averages of $2.35 and $2.30 respectively. However, the stock is trading above the 200-Day moving average of $2.21. The company has a total market capitalization of $480.48million. The stock is up 10% over the past month.
