Meet the Newest Company to Make the Coronavirus Stock List
More investors now consider waste removal and cleaning company BioHiTech Global to be among those on the growing list of COVID-19 stocks. Thus, its shares more than doubled to start out the week.
More investors now consider BioHiTech Global Inc. (NASDAQ: BHTG) to be among those on the growing list of COVID-19 stocks. Its shares more than doubled to start out the week, despite a lack of major news about the company.
Earlier this month, the stock saw over a 50% move when news that it is now focusing its efforts on the coronavirus originally came out. BioHiTech is a waste removal and cleaning company that provides technological, biological and mechanical engineering solutions for the control, reduction or reuse of organic and municipal waste worldwide.
BioHiTech has collaborated with Altapure to offer its AP-4 disinfectant, which is capable of killing any virus, both in the air and on surfaces, via its vapor and aerosol system. Obviously there has been increased demand for aerosol disinfectants as coronavirus cases have climbed, and BioHiTech appears to be positioned very well to fill this demand.
The Altapure AP-4 is an enhanced, automated and touchless high-level disinfection sub-micron aerosol system launched in 2017, providing a safe process and rapid kill of spores, viruses and vegetative bacteria.
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Customers could use this system to target such areas as infirmaries, guest or patient rooms, classrooms and small common areas. Anything from small businesses and hospitals to larger corporations would have a use for this.
BioHiTech stock traded up about 120% to $3.34 on Monday, in a 52-week range of $1.01 to $4.40. The consensus price target is $3.50.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
