Alpine 4 Holdings Inc. (NASDAQ:ALPP) Stock Gains Momentum: Now What?
This morning, most investors are going to be tracking those stocks that may have made notable gains on Thursday, and hence, it is likely that Alpine 4 Holdings Inc. (NASDAQ:ALPP) stock could be in play. The company saw its stock go on a run and ended the day with gains of 7% after it made a joint announcement with Thermal Dynamic International (TDI), its subsidiary company.
Alpine 4, which is best known for owning and operating small market businesses, and its subsidiary announced yesterday that both had managed to bag a number of contracts with the United States Department of State. The company and its subsidiary procured the contracts through a number of government contractors, and the collective value of the contracts was $9 million.
The company also noted that its backlog had gone up to as much as $19 million, and there was the expectation that it was going to keep growing as the end of the government’s fiscal year approached on September 30, 2023. The new contracts signed by the company were also an indication of the growing relations between the government and TDI and demonstrated its credentials for providing high-impact thermal solutions for use in the public sector.
The news release revealed that the contracts were spread across a period of 18 months and encompassed a significant range of services that would support the operations of the global embassies and consular offices of the Department of State. Some of the projects would involve thermal management solutions related to advanced refrigeration units and environmental control units at the offices. Climate control systems would also be involved.
The president of TDI, John Meiser, spoke about the latest developments as well. He called the awarding of the contracts a major new achievement in the history of thermal dynamics. Additionally, he observed that it would also prove to be a significant component of the company’s move into the government sector. Meiser also stated that the contracts also indicated the range of ways in which thermal dynamics solutions could be deployed to meet the diverse needs of the Department of State.
On August 15, the company announced that its subsidiary unit, Quality Control Assembly Inc. (QCA), had managed to secure $1.8 million worth of assembly work. The company secured new electric storage systems (ESS), electric vehicles (EV), and airborne microparticle assembly work. The work will be completed in the third and fourth quarters of 2023.
It was also noted that the ESS and EV customers that had been added to the aerospace customers would contribute to the long-term growth prospects of QCA. The president of QCA, Tim Garcia, spoke about the new contracts as well. He noted that QCA continued to win the trust of customers in emerging and exciting industries. That had been accomplished due to the growing capabilities and reputation for the production- and prototype-based work that the company managed to perfect.
