There are certain companies which may not be getting the kind of attention that they may deserve at this point in time but more often than not it may be necessary for investors to consider taking a look into such stocks. If one gets to know about such stocks early enough then it may be a possible to perhaps enter those stocks early as well.
However, that is something that investors need to decide once they have a better idea about the company. The company that is going to be the subject of this article is Moro Corporation (OTCMKTS:MRCR) and it is going to give investors a fairly detailed look into the operations of the company as well as recent developments related to it.
Trading Data
On Tuesday, MRCR stock ended flat at $1.40 with 4 shares, compared to its average volume 20535 shares. The stock moved within a range of $1.4000 – 1.4000 after opening trade at $1.40.
About The Company
Moro Corporation operates through a range of subsidiary companies and is mainly involved in the construction contracting industry in the United States.
The company is mainly involved in installation, servicing and sales of heating, ventilation and air-conditioning systems. In addition to that, Moro Corporation is also engaged in sheet metal works and piping. It is involved in the wide range of services that are involved in the construction industry. In the past, the company had been known as Food Court Entertainment Network Inc but in June of 1999, it changed its name to Moro Corporation. The company had been founded back in 1992 and is based out of Wayne, Pennsylvania.
Moro Corporation Makes Strategic Changes
The company had come into the news back yesterday and it may be a good idea for investors to consider taking a look into it. Yesterday Moro Corporation provided a series of updates with regards to the range of measures that it had put into place in order to improve the operational performance. One of the actions that had been taken by Moro Corporation this year was that of shutting down of its subsidiary unit Titchener Iron Works.
The company had been involved in fabrication and the installation of railings and stairs. The company had been acquired by Moro Corporation back in 2010, the company had performed poorly on a consistent basis. On the other hand, the market conditions in the market in which the company operated had also been tough and that made it easier for Moro Corporation to shut down Titchener.
Another step that had been taken by the company to improve its operations was to sell its subsidiary company J&J Sheet Metal Works LLC. The sale had been made to a partnership entity in which J&J’s president was a partner. The sale of the subsidiary unit had been completed back on July 11 this year.
Finally, the company had also made the decision to completely quit the HVAC business that had been in operation through its subsidiary company Appolo Heating Inc. Moro Corporation noted that the scope of the particular line of business had always been limited and hence, it had been a fairly easy decision to close it down this year. The company now has four operating units which are going to continue.
Technical Data
MRCR stock is trading above the 20-Day and 50-Day Moving averages of $1.32 and $1.36 respectively. Moreover, the stock is trading above the 200-Day moving average of $1. The company has a total market capitalization of $8.75 million. The stock is up 25% over the past 6-month.
