ASTC Stock: Over 15% Increase Pre-Market Explanation

By Amit Chowdhry ● Aug 25, 2021
  • The stock price of Astrotech Corporation (NASDAQ: ASTC) increased by over 15% pre-market. This is why it happened.

The stock price of Astrotech Corporation (NASDAQ: ASTC) increased by over 15% pre-market. Investors are responding positively to Astrotech announcing today that its 1st Detect subsidiary has secured an important landmark purchase order for its TRACER 1000, representing the first units to be deployed at an airport security checkpoint. Including prior sales to worldwide cargo facilities, the TRACER 1000 explosives trace detector (ETD) will now be operating in fifteen locations in ten countries throughout Europe and Asia.

The Astrotech Mass Spectrometer Technology (AMS Technology) drives the breakthrough TRACER 1000, the first certified ETD to employ mass spectrometry. Mass spectrometry has historically been too costly, bulky, and cumbersome to be used outside of the laboratory. But unlike other technologies, the AMS Technology works under ultra-high vacuum, which eliminates competing molecules that can impair the accuracy and quality of an analysis. 

The TRACER 1000 is known as being inexpensive, small, and easy to use, with high resolution and near-zero false alarms. Due to the high sensitivity and rugged design, the TRACER 1000 is the only mass spectrometry-based ETD to have received European Civil Aviation Conference (ECAC) certification for both checkpoint and cargo security.

KEY QUOTE:

“As air travel spending begins to return to normal following the slowdown caused by the COVID-19 pandemic, we are seeing renewed interest in checkpoint use for the TRACER 1000 ETD. We are excited that airport operators are beginning to understand that mass spectrometry is a superior technology for the detection of explosives, providing benefits to both airports and travelers. Based on our near-zero false alarms, we believe that operating costs will be considerably lower and passenger throughput will be much faster when compared to competing screening devices. This could lead to more consumer spending in airports as passengers avoid unnecessary delays at the screening checkpoint.” 

— Thomas Pickens, Chairman and Chief Executive Officer of 1st Detect

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.