Micronet Enertec Technologies Inc (NASDAQ:MICT)

Micronet Enertec Technologies Inc (NASDAQ:MICT) Shares Have Strong Rebound

Micronet Enertec Technologies Inc (NASDAQ:MICT)

Micronet Enertec Technologies Inc (NASDAQ:MICT) shares are off their inter-day highs but are still up over 21% after the company announced that its wholly owned subsidiary received a $3.1 million order. The defense technology company has a $5.5 million market capitalization and observers believe this order might significantly strengthen the company’s earnings. In the last four months, Micronet has booked over $9,000,000 in orders received for their ELD solutions.

Micronet Enertec Technologies Inc (NASDAQ:MICT)

The $3.1 million purchase order is for the company’s recently released SmartHub-TREQr5 product. The SmartHub-TREQr5 is an Android on-board computer optimized for Internet of Things (IOT) and fleet management applications. SmartHub-TREQr5 improves efficiencies and safety for trucking and other fleet management operations.

David Lucatz, Chief Executive Officer of Micronet Enertec Technologies stated in a press release, “We believe that $9,000,000 in total orders in just four months clearly indicates the market’s growing demand for electronic logging device (ELD) products and, more importantly, Micronet’s power to design and deliver MRM technologies that optimally serve customers’ needs. We are pleased with the pace at which Micronet is closing on new sales and we look forward to shipping on this purchase order.”

In July of 2016, Micronet Enertec Technologies Inc (NASDAQ:MICT) shares briefly traded above the psychologically-important $2.50 level. Since then the shares have been sliding and permanently broke below the $1 per share threshold early this past summer. There have been several attempts for the stock to break above $1, but every rally met with strong selling.

Year-to-date MICT shares are down almost 50% and are down almost 25% over the past month. The company’s fundamentals match its stock performance. In 2013, Micronet Enertec Technologies Inc (NASDAQ:MICT) hit its high sales point of $35.6 million. By 2016, the company reported sales of just $22.7 million. Likewise, per share earnings have been on a similar slide. In 2012 Micronet posted a per share profit of $1.67. The next year the company posted a loss and the per share losses have been expanding ever since. For 2016 the per share loss was (-$0.97).

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $MICT and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Micronet Enertec Technologies Inc (NASDAQ:MICT)

Micronet Enertec Technologies Inc (NASDAQ:MICT) Rallies After Purchase Order

Micronet Enertec Technologies Inc (NASDAQ:MICT)

Shares of Micronet Enertec Technologies Inc (NASDAQ:MICT) rallied 14.70% after the company announced a $4.3 million Purchase order for its newly released TREQr5 product. The order is from an existing customer and the biggest since 2012.

Micronet Enertec Technologies Inc (NASDAQ:MICT)
One month daily candlebar chart for MICT

Micronet Enertec Technologies Inc (NASDAQ:MICT) develops, manufactures and markets rugged computers for the commercial, defense, and aerospace markets. The company also provides high tech solutions for severe environments and the battlefield. Its products are usually installed in critical systems such as command and control and missile fire control.

TREQr5 is an innovative telematics Android onboard computer optimized for the internet of things (IoT). The rugged computing product is designed to provide optimized transportation, planning, and performance through a network of electronic links. In addition to improving efficiencies and safety for tracking, the onboard computer also brings truckers into compliance with the federal ELD.

TREQr5 Growing Demand

The $4.3 million order goes to validate TREQr5 technology

According to CEO, David Lucatz:

“As the deadline for the Electronic Logging Devices (ELD) government mandate nears, Micronet expects more orders for these products. As Micro net’s competitive products continue to prove their value to its customers, we plan to focus on greater market share and building long term revenue growth in the MRM space.”

In May, Micronet Enertec Technologies Inc (NASDAQ:MICT) received a $2.1 million order for 8,000 units for the on-board computer. The company plans to fulfill the order in the third quarter. Orders from existing customers underscores customers’ confidence in the company’s products.

Micronet Enertec Technologies Inc (NASDAQ:MICT) reported a $19% decrease in first quarter revenue that came in at $5.3 million compared to $6.5 million a year ago. During the quarter, the company was awarded contracts worth $5.6 million to be fulfilled before the end of the year.

“Although our revenues declined in the first quarter compared to the same period in 2016, we expect more favorable revenue levels for the balance of 2017 as we deliver on the purchase orders received during the first quarter and book the associated sales,” said Mr. Lucatz.

Micronet Enertec Technologies Inc (NASDAQ:MICT) had a backlog of $7.3 million as of March 31, 2017, and $9.3 million as of May 15, 2017.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $MICT and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation