In the past week or so, the Umbra Applied Technologies Group (OTCMKTS:UATG) has emerged as one of the stronger performers and recorded gains of as much as 14%. In light of such strong gains, it might be a good move from investors to take a closer look at the company.
Yesterday, the company, which is now a strategic partner with the medical research firm Bacter Scientific, made a joint announcement with Bacter. It was announced that the hand held virus and COVID 19 testing device named Novi is going to be delivered with the capability of indentifying the different variants of the COVID 19 virus.
At a time when there are growing concerns about the Delta variants of the COVID 19 virus, it is a major new development for Umbra Applied Technologies. As a matter of fact, ever since the pandemic emerged different strains of the virus has been circulating in different parts of the world and many of those variants have turned out to be quite deadly. The new strains have emerged due to mutations in the virus and hence, it is necessary for people to have access to machines like Novi that have the capability of testing for different strains of the virus.
On Thursday, UATG stock fell 2% at $0.0240 with more than 29.16 million shares, compared to its average volume of 14.36 million shares. The stock has moved within a range of $0.0240 – 0.0322 after opening the trade at $0.0286. Over the past 52-week, the stock has been trading within a range of $0.0006 – 0.0488.