(MENAFN- Investor Ideas) ATI Airtest has made a large sale through its distribution platform, Alpscontrols. Read on to see why analysts like this company's stocks.
ATI Airtest Technologies Inc. (AAT:TSX.V; AATGF:OTC) has announced through a press release that it received an order in excess of CA$100,000 from its distribution partner, alpscontrols .
According to the press release, alpscontrols employs a team of 25 sales personnel, and the sale is to provide the company's refrigerant leak detectors, EnGuard, to a hotel chain. Alpscontrols is a distribution platform for utilities equipment and "building automation control parts and peripherals," which it distributes throughout the western hemisphere.
According to Lorne Stewart, the President of ATI Airtest, "Our team has quickly developed a strong relationship with their sales team and has provided multiple project quotes with our RLD products. This sale represents an understanding between all parties of total cost ownership and the value proposition the EnGuard RLD delivers vs. commodity-based alternatives in the market. EnGuard, utilizing IR technologies, provides long life, less calibration requirements, and fast and accurate detection of specific gas/refrigerant types."
5.4% Growth by 2030
According to Fortune Business Insights , the market for HVAC systems is expected to grow to US$67.47 by 2030, representing a 5.4% increase from 2022's US$44.53 billion.
Fortune Business Insights reports that drivers of this growth include the Internet of Things economy, where consumers are seeking more connected devices that allow them greater control over their homes, and the search for green technology as the international community seeks to limit energy consumption.
CA$240,000 in Natural Gas Savings
The company received a great deal of coverage in May of 2023. Chris Temple of The National Investor positively rated the company.
Chris Temple, who cited the company's increasing business as a factor in his positive review, predicted that "If the company can keep up with what seems likely to be much more brisk demand for its offerings, it seems that the healthy quarter-over-quarter revenue that should ensue will foster a continuation in the share price rebound."
Ron Struthers , who also reviewed the company in May, believes that Airtest may be set to see big business as governments and corporations around the world seek to reduce their carbon footprint.
Struthers commented that Airtest products were "installed [in] 65 Canadian Tire stores in Ontario Canada," and they "delivered over CA$240,000 in natural gas savings alone and payback less than two years."
Technical Analyst Clive Maund also reviewed the company in this time frame and rated it as an "Attractive Speculative Buy" for potential investors.
Maund said of the company's stock, "The company's rapidly improving fundamentals, despite the awful overall economic situation, certainly suggest that the stock price will continue to appreciate and probably that it will accelerate to the upside."
The company has several pilot installations scheduled in the near future, and these installations demonstrate savings; they will lead to over CA$10 million of revenue for the company through the next year.
Ownership and Share Structure
Reuters provided a breakdown of the company's ownership and share structure, where management and insiders own 15.26%.
According to Reuters, director Robert Bruce Mebruer owns 12.26% of the company with 27.30 million shares, founder George Burton Graham owns 2.55% of the company with 5.67 million shares, and President Lorne Kendall Ogden Stewart owns 0.45% of the company with 1.00 million shares.
Reuters reports no institutional investments.
According to Reuters, there are 222.67 million shares outstanding and 188.7 million free-float traded shares. Reuters reports that the company has a market cap of CA$2.46 million and trades in the 52-week period between CA$0.01 and CA$0.03.
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