In Tuesday’s trading session, the share price of VivoPower International PLC (NASDAQ:VVPR) rose by 31.39%, or $2.53, as compared to the previous market close price. VivoPower stock touched a low of $7.92 during the trading session while soaring to a high of $11.36.
Trading volume was observed at 5.94 million, with VVPR stock closing the last session at $10.596. Following an initiation report by an international research group, the price of the VVPR stock increased.
How did VVPR fare in the report?
VivoPower specializes in battery storage, solar and critical power technology, as well as customized and ruggedized fleet solutions. The core purpose of VVPR is to be able to provide net zero carbon solutions to its customers. In addition to its Australian, Canadian, Netherlands, United Kingdom and United States operations, VVPR is a certified B Corporation.
Edison Group is a global investment research, investor relations and consulting firm and its first report on VivoPower was published yesterday.
- It gave the company a value of $19 a share in the detailed analysis that will be distributed globally to thousands of professional and private investors.
- Edison’s valuation is motivated primarily by its view of the VVPR’s strategy of accelerating growth and the acquisition of rugged electric vehicles (EVs) company Tembo.
- As a result of the Edison argument on Tembo’s four-year plan and $250 million of worth could be making Tembo the clear leader in the market due to the high volume it generates.
- Additional funding of more than US$10 million has already been committed by VVPR for Tembo.
The report further concludes that the B Corps certification might help the VivoPower (VVPR) to gain the attention of asset managers with a sustainability focus in addition to others. VVPR utilizes solutions typically found in the automotive, transportation, and telecommunications sectors, which are hard to decarbonize.