Two Nano-Caps Gaining On Contract Wins
Nano-cap stocks typically includes companies whose valuations are less than $200 million although there is no exact consensus. Nano-cap companies also happen to be relatively unknown to investors but when a company announces a major news release investors tend to listen.
Here are two nano-cap stocks that are moving higher on Thursday following the announcement of a contract win.
Rocky Brands Wins A Military Contract
Rocky Brands (NASDAQ: RCKY), an $80 million valued designer, manufacturer and marketer of footwear and apparel product, was awarded a contract with the U.S. Department of Defense. (DOD).
The DOD said in a disclosure of new contracts that it awarded Rocky Brands with a deal worth up to $101,915,091 for hot weather combat boots for the U.S. Army.
The contract will last one-year with four additional one-year option periods. The report suggests that Rocky Brands won the contract over one of its peers. The $101.9 million contract win does represent the maximum amount over the entire lifespan of the contract.
The locations of performance is said to be in Ohio and Puerto Rico with a performance completion date set for October 17, 201.
Despite a near 10 percent gain Rocky Brands Stock on Thursday shares are still lower by more than five percent since the start of 2016 and nearly 30 percent over the past year.
DragonWave Scores Notable Contract With With Sprint
DragonWave (NASDAQ: DRWI), a supplier of packet microwave radio systems with a valuation of around $25 million, announced that it won a contract to supply its microwave backhaul equipment for network deployment to Sprint (NYSE: S).
DragonWave touted in its press release that it was selected by Sprint because of its dual channel capabilities and industry leading system gain as well as its advanced network security capabilities.
The company’s microwave backhaul will be used as part of Sprint’s strategy to densify its network through the deployment of small cells and other solutions.
Investors applauded the deal as shares of Dragon Wave soared higher by nearly 100 percent on Thursday. The stock is still lower by more than half compared to its 52-week high of $10.66 but is also higher by more than 50 percent since the start of 2016.