When it comes to making investments people are often on the lookout for stocks that may have gained momentum and for good reason too, considering the fact that those stocks may continue to rally. If you are looking into such stocks this morning then you may consider taking a look at the Atlantic Power and Infrastructure Corp (OTCMKTS:AWSL) stock.
Trading Data
On Thursday, AWSL stock gained 2.33% to $0.0880 with more than 224K shares, compared to its average volume of 79K shares. The stock moved within a range of $0.0822 – 0.0890 after opening trading at $0.0860.
Atlantic Power and Infrastructure Corp Reports Record Quarterly Revenues and Profits
The company was in the news yesterday after it posted a strong number in the second quarter that ended on June 30, 2022. The company announced that it had managed to generate revenues of $2.1 million for the quarter and that reflected a significant rise from the $0.9 million in revenues it had generated in the prior year period.
In the previous quarter that ended on March 31, 2022, Atlantic Power and Infrastructure had managed to bring in revenues of $1.5 million. On the other hand, the company managed to generate profits of $0.3 million in the second quarter and much of it was driven by $0.4 million worth of operating profits.
In the six months ended on June 30, 2022, Atlantic Power and Infrastructure generated revenues of $3.5 million and that was considerably higher than the $1.1 million in revenues in the prior year period.
Key Quote
API’s CEO Kevin Bagnall stated; “Our record results demonstrate the success of our acquisition of K.B. Industries, UK Ltd. in August 2021, with that operation contributing $2.1 million in revenues to our $3.5 million in total revenues for the six months ended June 30, 2022. All revenues to date have come from our Flexi®-Pavebusiness, for which we see continued strong growth potential as infrastructure spending budgets expand in the U.S. In addition, we are developing complementary businesses within the API platform that protect the planet’s environment and would significantly add to our future financial performance.
Technical Data
AWSL stock is trading above the 20-Day and 50-Day Moving averages of $0.0698 and $0.0594 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0659. The company has a total market capitalization of $26.22 million. The stock is down 44% over the past 6 months.
