Kontrol Technologies Corp (OTCMKTS:KNRLF) Stock Falls a Bit After Corporate Update

In recent times, Kontrol Technologies Corp (OTCMKTS:KNRLF) has emerged as a major player in the smart buildings space and it has done so through the deployment of Cloud and Internet of Things (IoT) among others.

Market Action

On Tuesday, KNRLF stock fell 3.07% to $1.58 with 7.6K shares traded, compared to its average volume of 46K shares. The stock has moved within a range of $1.5600 – 1.6050 after opening trade at $1.56.

Kontrol Technologies Provides Corporate Update

Yesterday, the company was in focus after it provided a corporate update in relation to its strategic moves and business operations. However, it seems that investors were not particularly thrilled with the updates and the Kontrol Technologies stock suffered from a selloff. Yesterday, the stock ended the day with a decline of as much as 3% and it may be a good idea for investors to take a look at some of the highlights from the updates provided by the company yesterday.

The company noted that in the month of December 2021 it had generated a record in quotation requests and the total value of those quotations had stood at $23 million. Kontrol Technologies noted that it was primarily a result of the growth that has taken place in its operating platform. The company went on to add that the potential revenue opportunities at the global level stood at more than $35 million at this point in time.

Key Quote

“We continue to expand opportunities within our existing customer base while working diligently to scale into additional markets with new customers,” said Paul Ghezzi, CEO of Kontrol Technologies. “Achieving a record month of quotations positions Kontrol for a continuation of substantial growth into 2022. Our core focus on sustainability, energy conservation, and greenhouse gas emission reduction are key drivers of our operating platform’s expansion.”

Traders Note

KNRLF stock is trading below the 20-Day and 50-Day Moving averages of $1.76 and $1.88. Moreover, the stock is trading is the neutral zone with RSI stands at 35.

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