Alpha Pro Tech (APT) Stock Surges As Demand Continues Up

Alpha Pro Tech APT Stock News

Alpha Pro Tech, Ltd. (NYSEAMERICAN: APT) is having a tremendous start to the trading session this morning, trading on gains of over 30% early on. The gains come after the company provided an update with regard to demand for its face masks, stating that orders continue to fly in. Here’s what’s going on:

Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!

APT Stock Surges As Face Mask Demand Continues Skyward

In a press release issued early this morning, Alpha Pro Tech provided an update to the status of orders booked for its personal protection equipment products as coronavirus continues to spread.

In the release, the company said that it has booked about $22.6 million in orders for its N-95 face mask since January 27, 2020. That’s an increase of 60% over the number reported on February 27, 2020. As such, demand for the product continues to grow.

APT said that as a result of the increasing demand, it ramped up productions and expects to fulfill about $4 million of product in the current quarter. The company also said that it will deliver the other $18.6 million in facemasks by no later than early in the third quarter of this year.

It’s expected that the company’s work to ramp up production of these face masks will be completed by early May. This increased production is necessary in order for the company to fulfill its current backlog of orders and keep up with future orders.

Moreover, APT said that its face shield products are seeing significant increases in demand. In fact, since January 27, the company has received $1.6 million in orders for the face shield. $1 million of these orders have been booked since February 27. Interestingly, $1.6 million in face shield sales is what the company sees in an average year.

Why Investors Are So Excited

There’s good reason for the excitement here. Between the two products, the company has booked more than $24 million in sales over the past few months. That’s massive for a company with a valuation under $150 million. However, for Alpha Pro Tech, this is just the beginning.

At the end of the day, the increase in the demand for these products is directly related to the spread of COVID-19. Unfortunately, it doesn’t seem as though this spread is going to come to an end any time soon. However, for APT, that’s great news. Ultimately, investors can look forward to continued strong demand, increasing revenues, and profitability ahead.

Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!

Don’t Miss The Next Big Story!

Join our free mailing list below to receive free real-time news alerts!

Subscribe Today!

* indicates required

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.