Solar stocks seem to have bounced back on the TSXV as the week comes to a close. Volume and trades have gradually increased as the week has progressed, after a slow Monday when US markets were closed. Today, a solar tech stock is dominating the TSXV and currently has over $11 million in trade volume—far surpassing the rest.
Why is this solar tech stock doing so well? Let’s dig a little deeper and find out!
EnerDynamic Hybrid Technologies Corp. (TSXV:EHT)
EnerDynamic Hybrid Technologies designs, develops, manufactures, assembles, and distributes structural building systems with integrated alternative energy technologies. The company works specifically in Canada. EnerDynamic offers solar panels and fiberglass reinforced insulated panels, and it operates out of Welland, Ontario.
EnerDynamic focuses on alternative energy and holds strategic partnerships with Elevate Export Finance and StormAid. In the last 24 hours, the solar tech stock announced two big announcements, which likely caused the sharp spike in its shares.
Nearly 24 hours ago, EnerDynamic announced that Brock University has selected the company to supply solar technology to the University. This solar tech will be used to power six campus directory signs.
Jerry Foster, the Sign Consultant coordinating the project on behalf of Brock University, said:
“EHT’s lighter weight and extremely durable solar panels provide the required solar power and tangible benefits that traditional solar panels could not. The potential of integrating EHT’s solar technology into illuminated signage has significant global market potential. In fact, entire signs can be designed to be constructed using the EHT ENERTEC material.”
In addition to the University announcement, EnerDynamic released another piece of news this morning. The company signed an even larger solar deal with the Government of Ghana. EnerDynamic will provide up to 100,000 rooftop solar systems under the Nation’s OPS program.
John Gamble, CEO of EHT, commented:
“We have been working with the Ghanian Ministry of Works and Housing on this project for a number of months and we are very excited to get this project moving and helping the people of Ghana.”
These announcements are likely the cause for the $11 million in trade volume of the solar tech stock today on the TSXV.
Solar Tech Stock Movement
According to Yahoo Finance, EHT is currently trading at $0.06 a share, up +$0.02 (+50.00%).
Featured Image: Depositphotos © Droidworker