Crown Electrokinetics Corp (CRKN) is experiencing a surge in its share price on Monday following the announcement that its PE Pipelines division has secured two significant contracts valued at $33 million for lead pipe remediation. PE Pipelines, a specialized division of Crown Electrokinetics, focuses on pipe repair, replacement, and lead pipe remediation solutions.
The company confirmed that work on these newly awarded contracts is set to commence in January 2025, indicating a robust pipeline of projects for the division. This development underscores the growing demand for lead pipe remediation solutions, a critical area of focus for infrastructure improvement.
Expressing his excitement about the contract win, Crown’s CEO Doug Croxall stated, “We continue to execute our business plan as promised. When we started the PE Pipelines division, we communicated that with it, we were adding some world-class experts, innovators, and operators to ensure its success. Today’s $33M contract is a testimonial to both the caliber of our team, and our ability to execute. Most importantly, we believe we have just scratched the surface of this market opportunity.”
According to Benzinga Pro, Crown Electrokinetics shares are currently trading below the stock’s 50-day moving average of $2.20, but near its 52-week low of $1.06.
Investing in Crown Electrokinetics
For those interested in investing in Crown Electrokinetics, purchasing shares can typically be done through a brokerage account. Numerous platforms offer fractional share trading, allowing you to invest a portion of a share even if the full share price is beyond your budget.
For instance, you can acquire 81.3 shares of Crown Electrokinetics stock with $100 at its current trading price of $1.23.
If you’re considering a short position, the process is more intricate. It involves accessing an options trading platform or a broker who allows ‘short selling’ – borrowing shares to sell them with the hope of buying them back at a lower price later. Short selling is a complex strategy with inherent risks.
CRKN Price Action
As of Monday’s publication, Crown Electrokinetics shares have risen by 4.20%, reaching $1.24. This positive price action reflects investor confidence in the company’s recent contract wins and its potential within the growing lead pipe remediation market.
