There were a number of stocks which had started off the week on a strong note and one of those was the Optex Systems Holdings Inc (OTCMKTS:OPXS) stock, which ended up with gains of as much as 7%. The company, which is involved in the manufacturing of precision optical sighting systems for commercial and military clients worldwide, made a major announcement yesterday.
Trading Data
On Monday, OPXS stock moved up 6.59% to $2.3450 with 19,70K shares, compared to its average volume 13.58K shares. The stock moved within a range of $2.3000 – 2.3700 after opening trade at $2.3300.
Optex Systems Announces $720,000 Order for Mobile Protected Firepower Support
Optex announced that it had been successful in bagging a new order worth as much as $720,000 from one of the better known Prime Contractors in the United States. The contract is going to be in support of the Mobile Protected Firepower tank program of the United States Army. It was also announced by Optex that the bulk of the work related to this particular contract is going to be accomplished at its facility in Richardson.
The Chief Executive Officer of the company Danny Schoening spoke about the latest contract as well. He noted that everyone at the company was pleased at the fact that Optex had been selected for supplying the Mobile Protect Firepower tank program with Muzzle Reference Sensors and Laser Protected Periscopes. The latest orders took the backlog of orders with Optex to as much as $36.3 million.
Key Quote
Danny Schoening, CEO, Optex Systems, Inc. stated “We are pleased to have been chosen to provide Laser Protected Periscopes and Muzzle Reference Sensors in support of the MPF Program. With this award, Optex secures a new armored vehicle platform to broaden our product portfolio and to utilize existing manufacturing capabilities and equipment.”
Technical Data
OPXS stock is trading below the 20-Day and 50-Day Moving averages of $2.35 and $2.46 respectively. However, the stock is trading above the 200-Day moving average of $2.08.
