AmeraMex International Inc. (OTC:AMMX) Stock Trends Higher: Here is Why
If you are currently looking into momentum stocks, then the AmeraMex International Inc. (OTC:AMMX) stock could be an option given the fact that it gained strong momentum yesterday. Here’s a closer look at the developments from yesterday.
AmeraMex Completes $6.6 Million Equipment Installation with US Military
On Wednesday, the heavy equipment provider announced that it had been successful in completing the equipment installation at a facility of the United States military. The installation and assembly of a total of six Taylor Equipment Reach Stackers would be completed by the end of the current week, it was revealed. The company had announced that it had secured the order in June this year.
Key Details
As per the provision of the contract, the agreement, which would last for six years, would generate around $6.6 million worth of revenues for AmeraMex International. However, if the contract gets terminated, then the company would have the option of selling the equipment to other customers.
In the news release, the company also noted that the Taylor Equipment Reach Stackers machines had the capability of handling a variety of containers. The total valuation of the orders was $3250000, the company revealed. In light of the announcement from AmeraMex International, it may be a good time for investors to consider adding the stock to their watch lists for the week.
CEO Quote
AmeraMex CEO Lee Hamre commented, “The assembly and installation of six new Taylor Equipment Reach Stackers will be completed at the end of this week; the order was announced in June 2024. Under the terms of the contract, the six-year agreement will generate approximately $6.6 million in revenue for the company. At the termination of the contract, we will resell the reach stackers to new customers.”
Fundamentals
| P/E Ratio | -7.2400 |
| PEG Ratio | -0.04 |
| Price to Book | 1.11 |
| Price to Cash Flow | – |
| Price to Free Cash Flow | – |
| Total Sales (TTM) | 14.92 M |
| Revenue per Share (TTM) | 1.06 |
| Shares Outstanding | 14.113 M |
| Share Float (%) | 5.76 M (40.79%) |