Optex Systems Holdings Inc (OTCMKTS:OPXS) Gets New Order Worth $1.1 Million for Optical Assemblies
Yesterday, Optex Systems Holdings Inc (OTCMKTS:OPXS) was in the news after it made a key announcement but it did not move the needle for the stock, which stayed within a range.
Market Stats
On Wednesday, OPXS stock moved up 0.46% to $2.17 with more than 3K shares, compared to its average volume of 9k shares. The stock moved within a range of $2.1700 – 2.1800 after opening trading at $2.17.
Optex Systems Announces $1.1 Million Order for Optical Assemblies
The company is best known for being one of the leaders in precision optical sighting systems which are meant for domestic, commercial and military applications worldwide. The company announced yesterday that it had managed to bag a contract worth as much as $1.1 million which is a part of a strategic supplier agreement spanning many years with a premium optical devices manufacturer in the domestic market.
The products that are going to be manufactured as part of this contract are going to be made at the Applied Optics Center division of the company. It goes without saying that the latest announcement was a significant one and could even lead to similar new contracts if all goes well.
However, it seems that investors are not yet particularly excited and are possibly waiting for more news before making up their minds about the stock. It may be a good idea at this point to add the Optex Systems stock to your watch lists and watch out for the price action.
Key Quote
Bill Bates, GM, AOC stated “The Applied Optics Center is pleased to announce another order release of optical sub-assemblies supporting our long-standing customer. We continue to play a key role in supplying quality components used in the production of outstanding optical devices.” Total orders related to these product types now exceed $26.7 million dollars since its inception in early 2015.
Traders Corner
OPXS stock is trading above the 20-Day and 50-Day Moving averages of $2.16 and $2 respectively. Moreover, the stock is trading above the 200-Day moving average of $1.84.
