American Electric Technologies Inc. (AETI) has lent support to NYSE and NASDAQ listed companies in the industrial goods sector by being one of the best performers during morning trading on September 23. At the lunch break, shares of AETI have jumped 5.27% to $2.6 after closing the day prior at $2.47. In the first two and a half hours of trading, the stock has gone as high as $2.68 and as low as $2.5. Today’s rise has come with about 3,376 shares changing hands, compared to an average 30-day volume of 103,795 for American Electric Technologies Inc.. The price is currently below the 30-day volume weighted average price of $2.57 for AETI.
The share appreciation gives the company a market capitalization of $20.58 million based upon 8.33 million shares outstanding. It also means that AETI has a price-to-book ratio of 1.32:1.
In the past 52 weeks, shares of AETI have traded as low as $1.76 and as high as $5.15. Technical traders will take note that at $2.6, shares of AETI are trading above their 200-day MA at $2.54 and below their 50-day MA at $2.74. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is AETI?
American Electric Technologies Inc is a provider of power delivery solutions to the energy industry. The Company's business segments are Technical Products and Services and the Electrical Instrumentation Construction. The company’s 235 employees are led by CEO Charles M. Dauber from the corporate headquarters at 1250 Wood Branch Park Drive in Houston, TX.
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