The awarding of a new contract is often seen as a major positive by investors and hence, the Optex Systems Holdings Inc (OTCMKTS:OPXS) stock may well be worth looking into today. The company is involved in the manufacturing of precision optical systems which are meant for militaries and commercial operations both in the United States and worldwide.
On Tuesday, OPXS stock rose 0.37% to $2.7300 with more than 8.33K shares, compared to its average volume of 11.14K shares. The stock moved within a range of $2.6200 – 2.7300 after opening trade at $2.6500.
Optex Systems Announces $1.1 Million Order for Optical Assemblies
The company came into focus yesterday after it announced that it had bagged an order worth as much as $1.1 million as part of a supplier agreement with a high end commercial premium optical devices manufacturer in the United States. The agreement in question is going to run for several years.
The products that are going to be supplied by Optex Systems are going to be manufactured by Optics Center, which is a division in the company. The general manager of the company Bill Bates spoke about the latest development as well. He noted that the latest order was an add-on order that had been placed by a customer which had been doing business with Optex Systems for many years. After the placing of this latest order, the backlogs of the company now have a valuation of as much as $31.1 million.
Bill Bates, GM, AOC stated “We are very pleased to acknowledge another add-on award for optical-sub-assemblies supporting our long-standing customer. AOC continues to grow the overall bookings backlog value moving into fiscal 2023.” Total orders related to these product types now exceed $30.3 million dollars since our initial deliveries which began in early 2015.
OPXS stock is trading above the 20-Day and 50-Day Moving averages of $2.45 and $2.09 respectively. Moreover, the stock is trading above the 200-Day moving average of $1.99. The company has a total market capitalization of $21.84 million.