Shares of Liquidmetal Technologies Inc. (PINK: LQMT) soared nearly 26% to $0.65 in today’s late-day trading, moving on continued momentum from its recent licensing agreement with Apple (NASDAQ: AAPL) for the use of its liquidmetal technology.
While the financial details of the agreement have not been divulged, it is expected to be worth more than $11 million. Under the agreement, Apple will be able to access all the intellectual properties of the company which holds patents on several new metal and alloy designs. The company’s pioneer liquidmetal is considered to be a tough and yet elastic metal with wear and corrosion resistant properties.
Liquidmetal recently appointed Thomas Steipp as its new CEO and president. He has also been inducted in the company’s board of directors. The company’s board of directors’ Chairman Abdi Mahamedi said, “As an experienced CEO with a track record of success, Tom brings essential depth to the Company’s management team, at a time when our technology is seeing unprecedented commercial interest. His ability to create value through collaborative relationships, technological innovation, and business process is important as the company embarks upon our next stage of growth.”
Liquidmetal develops, manufactures and markets amorphous alloy products. The company has various strategic agreements with companies such as Apple and SAGA SpA. With SAGA, the company has a contract for collaborating on the manufacturing of prorotypes and other products. The company has divided its business into two categories, which are Liquidmetal Alloy Industrial Coatings and Bulk Liquidmetal Alloy Products. The Liquidmetal Alloy Industrial Coatings segment provides powders, composites and bulk alloys whereas Bulk Liquidmetal Alloy Products segment offers casings for various devices.
The penny stock of Liquidmetal has a 52-week price range of $0.08-$1.76. It has Price/Sales ratio of 1.96 and its market cap is $26.88 million. The penny stock’s 50-day moving average is at $0.40 and 200-day moving average stands at $0.19. The stock’s EPS is ($0.04). Liquidmetal Technologies Inc. is earning (8.86%) return on its assets and the company’s profit margin is (12.07%). Liquidmetal Technologies Inc’s operating margin is pegged at (13.36%). Liquidmetal Technologies Inc. currently has 47.58 million shares outstanding, out of which 32.79% are held by insiders.
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