Taronis Technologies TRNX Stock News

Taronis Technologies Inc (NASDAQ: TRNX) is making its way for the top in the market this morning with gains of more than 3%. The gains come after the company announced strong revenue growth for the month of May. 

I’ve been paying close attention to TRNX as of late as I believe that the revenue growth story is a compelling one. Here’s what’s happening today:

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TRNX Stock Gains On Record May Sales

In a press release issued early this morning, Taronis Technologies announced that it broke sales records in the month of May. During the month, the company announced sales in the amount of $2 million. 

Considering that the company generated $1 million in sales in the month of May, 2018, the growth here is compelling. In fact, the company said that it saw a year over year growth rate of 102% in the month of May. 

In a statement, Scott Mahoney, CEO at TRNX, had the following to offer:

Our sales team continues to do an excellent job delivering consistent sales growth across the country. We have begun our expanded MagneGas marketing program in Texas in preparation for our upcoming launch of our Flint, Texas production facility. We are already generating strong interest for the product, and we are hopeful this will be a catalyst for accelerated growth in that region for the rest of 2019.

We also see strong growth in our California markets, especially now that we have completed the integration of our new Los Angeles operations. Lastly, we are excited to see how our new fill plant in Clearwater, Florida can potentially impact our ability to compete and grow our business in our Florida market.

My Bullish Opinion Is Only Growing Stronger

Recently, TRNX has been trading on weakness, losing more than 90% of its value over the past six months. However, I believe that the work that the company is doing to refocus, restructure, and provide value is starting to pay off. 

As a result of the dramatic declines, it is my view that Taronis Technologies is highly undervalued. The truth of the matter is that after a fund raise announced in February, the company has plenty of funds to get through at least this year. So, the financial blues that investors have been worried about are alleviated for the most part. 

It’s also worth mentioning that the company’s revenue growth didn’t just start in may. In fact, in 2017, the company generated $3.7 million in revenue, followed by $9.7 million in 2018 revenues.

For the current year, it is expected that TRNX will generate between $24 and $28 million. Should the company reach this guidance, it will be very close to the break even point, suggesting that profits are just around the corner.

All in all, with the recent declines in mind, combined with the compelling revenue growth that we’ve seen out of the company as of late and the projected revenue for the 2019 year suggests that the stock has serious potential to see long run growth.

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What Do You Think?

Where do you think TRNX stock is headed moving forward? Join the discussion in the comments below!

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