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Applied UV, Inc. (AUVI) Stock Surged in Premarket. Here’s why

Applied UV, Inc. (AUVI) is a leading innovative company primarily focused on developing and marketing the technology used in the purification of surface and air, and infection control. The company provides disinfectant services under Lumicide brand and air purification services under the Airocide brand. Airocide can be used in grocery chains, commercial real estate, schools, grocery stores, and homes.

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The price of AUVI stock during the regular trading on December 27, 2021, was $4.11 with a significant drop of 17.3%. At last check in the premarket, the stock was up by 5.6%.

AUVI: Events and Happenings

On December 27, 2021, AUVI reported about the completion of a preliminary review for manufacturing, development, and distribution of the new product of the recently purchased acquisitions. On December 1, 2021, AUVI reported about the installation pf Airocide in Thailand. The installation was done by an exclusive distribution partner at the Armed Forces Research Institute of Medical Sciences for a cleaner and safer environment for customers and faculty.

 AUVI: Key Financials

 On November 16, 2021, AUVI reported its financial results for the third quarter of 2021 ended September 30, 2021. Some of the highlights are as follows

Net Sales

The net sales for Q3 2021 were $3.5 million as compared to $1.5 million for the same quarter of 2020. Approximately a surge of 127.6% was seen over the year period.

Net Loss

Net loss for the third quarter of 2021 was $1.08 million as compared to a net loss of $0.89 million for the same quarter of 2020.

On November 15, 2021, AUVI reported that it presented at Virtual Diamond Equity Research Emerging Growth Invitational Winter 2021 Spotlight Conference on November 16, 2021. On November 5, 2021, AUVI reported that its lead product SteriLumen Lumicide Ribbon, killed the fungus, Candida auris which is drug-resistant.

On October 14, 2021, AUVI reported the closure of the acquisition of substantially all the assets of Scientific Air Management, Florida by its subsidiary. On October 4, 2021, AUVI reported that JARO Trading and Supply, had installed the Airocide system at wine-making facilities in Mexico, to help control the spread of microorganisms and pathogens. On September 30, 2021, AUVI reported that the outcomes of the tests prove that Airocide and titanium dioxide-based photocatalyst, killed COVID-19 Virus.

On September 29, 2021, AUVI reported about the closure of the acquisition of substantially all the assets of KES Science & Technology and JJS Technologies by its subsidiary. On September 13, 2021, AUVI reported that Southeast Asia distributors had installed the Airocide system in 100 schools in South Korea.

Conclusion

The company showed a significant rise in premarket trading despite 20% decline in the stock price during the past month. The incline is possibly attributed to the announcement regarding consolidation of the manufacturing, development, and logistics of a new product. The analysts are optimistic about the outcomes of the company’s policies.

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