U.S. Well Services (USWS) Stock Jumps 10% After The News: Will it Hit $2?

One of the stocks that came into prominence among investors on Thursday was the U.S. Well Services (NASDAQ:USWS) stock, which managed to clock gains of 11% amidst considerable interest.

The rally in the stock may have been triggered by an announcement from the company on Wednesday with regards to its commitment to buy as many as 60 Power Cubes from Industrial Service Solutions subsidiary AmeriMex Motor & Controls LLC. Each of these patented Power Cubes contains a range of components that help in the creation of self-sufficient power centers. U.S. Well Services also stated that it is going to start receiving the deliveries of those Power Cubes at some point in the third quarter of 2021.

However, that is not the only important development with regards to U.S. Well Services in recent days. Earlier on in the week the company announced that signed on to a range of strategic transactions that will help the company in growing its business.

The company issued as much as $125.5 million worth of 16% Convertible Senior Secured PIK notes that are going to become due in 2026 as part of a private placement. In light of these two developments and the rally in the stock, investors could do well to keep an eye on U.S. Well Services.

Market Reaction:

On Thursday, USWS stock surged 11% to $1.12 with more than 8.67 million shares, compared to┬áits average volume of 3.14 million shares. The stock has moved within a range of $1.0400 – 1.1800 after opening the trade at $1.09. Over the past 52-week, the stock has been trading within a range of $0.2300 – 3.3700.

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