AmpliTech Surges Over 30% After Reporting Record Results

AmpliTech Surges Over 30% After Reporting Record Results

By: Dylan Sikes - AllPennyStocks.com News

Tuesday, July 5, 2016

The post-Brexit relief rally has faded, with global equities seeing a sharp pullback in trading today. In the U.S., the S&P 500 posted gains in each of the last four trading sessions for last week. The benchmark index closed more than 6% higher. However, as market participants in the U.S. returned on Tuesday following the long weekend, sentiment once again turned sour. There are renewed worries over Brexit, especially its impact on UK’s financial institutions. Meanwhile, there is also a risk of contagion. Not surprisingly, market participants are exiting risk assets such as equities and pouring money into safe-haven government bonds. Earlier today, yields on 50-year Swiss government bond dropped below zero for the first time ever.


In mid-day trading, the S&P 500 was down more than 0.8%. Despite the pullback in the broader market, AmpliTech Group Inc. (OTCQB:AMPG) shares are seeing a huge rally in trading today. Based in Bohemia, New York, AmpliTech Group is engaged in the designing, engineering and assembling of micro-wave component-based amplifiers. The company's products consist of radio frequency (RF) amplifiers and related subsystems, operating at multiple frequencies from 50 kilohertz (kHz) to 44 gigahertz (GHz), including Low Noise Amplifiers, Medium Power Amplifiers, oscillators, filters and custom assembly designs. The Company also offers non-recurring engineering services on a project-by-project basis.

The rally in today’s trading was sparked after AmpliTech announced record results for its fiscal second quarter. The company noted that it achieved revenue of $500,000 in its fiscal second quarter. AMPG earned a net profit of 30% on its revenue.

Fawad Maqbool, CEO at AmpliTech Group, said that the company is proud to announce that it has began a new phase of productivity in its new facility. Maqbool noted that although the company booked large orders in the last quarter of 2015, its productivity suffered in the first quarter of 2016 because of problems associated with moving to their new and improved facility. Maqbool, however, noted that the company has now overcome those problems as evidenced by the results of this quarter, and converting those bookings into revenue.

At last check, AMPG shares were trading 36.96% higher at $0.0315. Volume was up at 99,305, below the daily average of 134,077. The rally today has boosted AMPG’s year-to-date gains. The stock is now up 50% for the year, outperforming the broader market.

Copyright © 2016 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com's content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Other Penny Stock Movers

Unexpected Copper Concentration Sends Shares of this Junior Miner Higher
Biotech Steals The Show Following Pre-Clinical Data Announcement
Micro Cap Up Big Following Acquisition Rumor
Most Popular
FREE Newsletter


Back to Top