SAExploration Holdings, Inc. (NASDAQ:SAEX) is having an incredible start to the trading session today, and for good reason. The company announced that it has received several orders with a total value of around $20 million. Of course, this led to investor excitement and caused the stock to spike upward. As usual, our partners at Trade Ideas were the first to alert us to the movement. At the moment (10:28), SAEX is trading at $5.73 per share after a gain of $0.40 per share or 7.50% thus far today.
SAEX Gains On Orders
As mentioned above, SAExploration is having a great start to the trading session this morning after announcing that it has received new orders. The orders surround new projects for onshore logistics support and seismic data acquisition services. All together, the orders are valued at around $20 million. It is expected that all projects under this order will be completed by the second half of 2017.
According to the SAEX press release, the projects under this order are located in Collumbia and Canada. All projects are going to cover equally challenging terrain, which requires special knowledge of the surrounding environments. However, no new capital expenditures will be required to complete the new projects.
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What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on SAEX. In particular, we'll be keeping tabs on the new projects and following the company through any new news. Of course, we'll continue to follow the story closely and bring the news to you as it breaks.
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