Solar Integrated Roofing Corp (OTCMKTS:SIRC) Stock Surges 35% in a Week: Here is Why
Solar Integrated Roofing Corp (OTCMKTS:SIRC) is a single-source integrated roofing and solar power systems installation corporation that recently preannounced an unaudited preliminary record sales revenue of about $25 million in the second quarter of 2021. In addition, the company reaffirmed its financial prediction of revenue growth of at least $100 million by the end of this fiscal year.
Solar Integrated’s Chief Executive Officer and Chairman, David Massey, said that the second quarter of this fiscal year was characterized by the strong organic growth of the company’s complementary EV charging, solar, and roofing brands that helped drive record sales figures.
He claimed the sales figures they saw in this quarter notably didn’t include an entire quarter of at-scale revenue from USA Solar Network and Future Home Power. David said that they believe they can double the sales numbers they got in this quarter in the future as they realize an entire quarter from the acquisitions they’ve recently made and continue to encourage the company’s rapid organic growth.
On Wednesday, SIRC stock fell 3.17% at $0.59 with more than 2.90 million shares, compared to its average volume of 2.18 million shares. The stock has moved within a range of $0.5700 – 0.6500 after opening the trade at $0.64.