CEA Industries (CEAD) Stock: Why The Price Surged Today

By Amit Chowdhry ● Mar 10, 2022
  • The stock price of CEA Industries Inc. (NASDAQ: CEAD) increased by over 17% during intraday trading today. This is why.

The stock price of CEA Industries Inc. (NASDAQ: CEAD) increased by over 17% during intraday trading today. Investors are responding positively to CEA Industries subsidiary Surna Cultivation Technologies LLC, a leader in controlled environment agriculture (CEA) systems engineering and technologies, announcing it earned yet another multi-million-dollar contract.

This project includes HVACD equipment for the veg, flower, mother, clone, and dry cure rooms, as well as comfort cooling in the office spaces. And as part of the HVACD equipment order, Surna is providing its EnviroPro air handlers, IsoStream fan coils, Surna by Anden dehumidifiers and humidifiers, boilers, and chillers. The project also includes controls design services and Surna’s proprietary controls system SentryIQ. And the SentryIQ system will control the mechanical system, lighting, CO2 injection, and exhaust/purge systems and intake.

KEY QUOTES:

“We are pleased to announce a signed contract for $2.1 million with a facility in Maryland. Earlier in 2021, Surna performed the mechanical, electrical, and plumbing (MEP) engineering services for this 37,000 square feet of cultivation space. Thanks to the value added as a result of this work, we have been awarded the HVACD and controls equipment portion of the project.”

— Jon Kozlowski, Surna’s Vice President of Sales

“SentryIQ’s sensors, controls and automation platform helps our customers achieve the precision environmental control, energy management, and monitoring required by serious controlled environment agriculture growers. We are confident that Surna’s combined engineering services, controls design services and HVACD equipment will enable our customer to efficiently produce high quality, high yield products.”

— Troy Rippe, Surna Cultivation Technologies Vice President – Operations and Development

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