Borqs Technologies (NASDAQ:BRQS) Stock Attempts To Rebound: How Far Can it Go?

Borqs Technologies Inc (NASDAQ:BRQS) stock continued to trade higher in the pre-market on Tuesday, extending its one week gains to 14%.

Market Action

On Tuesday, BRQS stock moved up 11% to $0.9951 with more than 12.28 million shares, compared to its average volume of 2.76 million shares. The stock has moved within a range of $0.8921 – 0.9979 after opening the trade at $0.90. The stock is up another 10% in the pre-market session.

Major Trigger:

Last week – Borqs Technologies Begins Delivery of Cellular CTA-2045 Products to SkyCentrics for Use by Utility Companies for Smart City Deployment

Key Highlights:

  • Borqs Technologies announced that it has started the delivery of cellular CTA-2045 EcoPort products to SkyCentrics. These units are being used by utility companies in grid interactive water heater programs in the states of Colorado and California. Michigan is following suit and recently announced request for quotations to acquire similar products.
  • Previously in October 2020, Borqs Technologies announced that it had partnered with SkyCentrics, a Silicon Valley company that is the leader in machine learning and artificial intelligence for open standard power grid optimization in the U.S., focusing on energy efficiency, carbon optimization and air quality, for the manufacture and delivery of cellular CTA-2045 EcoPort technology-based products.
  • Mobile connected CTA-2045 EcoPort devices will play an important role in smart cities. A smart city uses various types of electronic methods and sensors to collect data to gain insights in the management and operation of grid loads in order to improve efficiency and effectiveness.

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