BioHiTech BHTG Stock News

BioHiTech Global Inc (NASDAQ: BHTG) is making a run for the top in the market this morning, trading on gains that are better stated in multiples than percentages. While the company hasn’t issued any recent news, there’s good reason for the movement. Growth in coronavirus case counts are sending COVID-19 stocks upward, and seem to have triggered a short squeeze in this stock. Here’s what’s going on:

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BHTG Stock Rockets As COVID-19 Continues To Spread

As mentioned above, the COVID-19 pandemic is continuing to spread. In fact, as businesses reopen, we’re seeing record high daily case counts out of several states in the United States. Moreover, the country as a whole has seen single day case counts of 50,000 as of late.

As coronavirus cases continue to grow, stocks in the fight against COVID-19 are getting a boost. Of course, that includes BioHiTech Global. So, what is BHTG doing in the fight against COVID-19?

The company has a product known as the Altapure AP-4, which is a high-end disinfectant technology. So far, we know that the company has had preliminary discussions with potential customers in healthcare, hospitality, and education markets.

In fact, the company has scheduled product demonstrations that began early this month. As such, the company said that it is encouraged by the initial level of interest and the potential opportunities that Altapure AP-4 can lead to in the face of a COVID-19 riddled market.

The product is an automated, touchless, high-level disinfection sub-micron aerosol system. The company launced Altapure AP-4 in 2017 as a way to rapidly kill spres, viruses, and vegetative bacteria.

In a statement, Frank E. Celli, CEO at BHTG, recently had the following to offer:

We are excited about the initial interest we have seen from several potential customers in making the AP-4 a part of their post-COVID safety and disinfecting initiatives. We are looking forward to demonstrating the environmentally sound, high-level disinfection capabilities of the AP-4 in an actual customer setting so that target customers can evaluate its ability to keep areas such as infirmaries, guest or patient rooms, classrooms, and small common areas properly disinfected in a post-COVID-19 environment.

What’s Next

Considering that the most recent update from BioHiTech came about two weeks ago, announcing that demonstrations were taking place with potential customers, investors are awaiting news with regard to sales.

With coronavirus cases continuing to rise, the general idea is that the company’s product will be met with high demand, ultimately leading to a rise in revenue. All in all, BHTG is in a position to see tremendous growth as the fight against COVID-19 continues.

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