Attis Industries Inc (NASDAQ: ATIS) is having a strong day in the trading session today, and for good reason. The company announced that it is seeing strong growth in new accounts with regard to its commercial blood testing product. Of course, the news excited investors, leading to strong gains in the value of the stock. Today, we’ll talk about:
- The growth;
- what we’re seeing from ATIS as a result; and
- what we’ll be watching for ahead.
ATIS Heads Up On Significant Growth
As mentioned above, Attis Industries is having an incredibly strong start to the trading session this morning after the company announced that it is seeing incredible growth in accounts. In a press release issued early this morning, the company announced that it has signed a significant number of new accoutns for commercial blood testing for its existing laboratoray and laboratory partners.
In the release, ATIS said that it has added multiple clinics in areas including Dallas, Memphis and Phoenix. In fact, the additions are expected to relate to at least 1,300 to 1,500 tests per month, per clinic. Importantly, this new demand will create the increase in volume the company was looking for with regard to its laboratory at the Macon County Community Hospital in Lafayette, TN, which is no expected to ramp to full capacity by the end of the third quarter. In a statement, Jeff Cosman, CEO at ATIS, had the following to offer:
We continue to grow our business by providing top flight service to our customers and their patients… We’re also integrating additional procedures at our Macon County Hospital lab, including validation and correlation testing, all of which are helping us to leverage operational synergies between our labs to reduce costs and increase profits moving forward. We’re excited with the addition of these new accounts and testing capabilities to our existing portfolio.
What We’re Seeing From The Stock
As investors, we know that the news moves the market. In the case of Attis Industries, the news proved to be overwhelmingly positive. After all, increasing volume means increasing revenue! So, it’s no surprise that excited investors are sending the stock on a run for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:44), ATIS is trading at $0.41 per share after a gain of $0.025 per share or 6.53% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on ATIS. In particular, we’re interested in following the story surrounding the company’s continued increase in volumes. Nonetheless, we’ll continue to follow the news and bring it to you as it breaks!
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