While it is true that solar power companies are in focus among many investors due to the long term possibilities of the sector, it has not been a particularly great time over the past month for Solar Integrated Roofing Corp (OTCMKTS:SIRC).
The company, which is known for being a solitary source solar power and roofing installation, has seen its stock decline by as much as 30% over the past month. Yesterday, the company made an announcement with regards to the unaudited preliminary sales that had been generated over the course of June this year. It proved to be a record for Solar Integrated Roofing as it ended up clocking sales figure of as much as $10 million.
It was revealed that the company managed to hit a record figure in total sales due to industry trends that supported organic growth. In addition to that, revenues were further added to the company’s coffers thanks to some of the acquisitions that it had made in recent times. For instance, Future Home Power managed to generate sales to the tune of as much as $6 million during June. That is a demonstration of the sort of success Solar Integrated Roofing has found through its acquisitions.
Market Reaction:
On Wednesday, SIRC stock moved up 0.62% at $0.4861 with more than 2.18 million shares, compared to its average volume of 2.30 million shares. The stock had moved within a range of $0.4802 – 0.5395 after opening the trade at $0.5000. Over the past 52-week, the stock has been trading within a range of $0.0300 – 3.0000.
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