On Friday, CUI Global, Inc. (NASDAQ:CUI) oscillated between $2.91 and $2.97 before concluding trading period higher +0.34% at $2.97. The stock recorded total trading quantity of 22,380 shares as compared to its average volume of 59,981 shares. The share price fluctuated between $2.44 to $4.35 during the 52-week trading period. The firm has a total market worth of $59.98k and $84.66M shares remain outstanding.
CUI Global, Inc. (NASDAQ:CUI) reported recently that its wholly-owned Energy subsidiary, Orbital Gas Systems Ltd. has been gifted a contract worth $1.8 million from the most known European industrial firm for three biomethane-to-grid units that includes the Company’s GasPT® analyzer. The contract marks the third from the consumer and follows the recent passage of a U.K. Government program under which tariff rates for biomethane generation were increased.
On May 22, 2018, the U.K. Government’s program set up to encourage uptake of renewable heat and contribute towards the Government’s 2020 renewable energy target, the Domestic and Non-Domestic Renewable Heat Incentive (“RHI”) Scheme, went into effect. According to its legislation, “the aim of the RHI is to incentivise the cost effective generation of renewable heat in order to contribute to Carbon Budgets, generate renewable energy to help meet the U.K.’s 2020 renewable energy target, and develop the renewable heat market and supply chain so that it can support the mass roll out of low carbon heating technologies.” The U.K. Government further held that the recent “reforms being made to the RHI are designed to ensure it focuses on long term decarbonisation, offers better value for money and protects consumers, and support supply chain growth while challenging the market to deliver.”
CUI Global, Inc.’s (CUI) price volatility for a month noted as 3.69% however its price volatility for a week documented as 3.24%. The corporation holds 28.79 million outstanding shares and its 28.15 million shares were floated in the market. The stock established a positive trend of 6.07% in last week and indicated rise of 6.83% in previous month.
Orbital U.K. President Paul D. White said that the ability to offer a turnkey solution that engineers our Energy products into the company integration solutions is a substantial competitive advantage in the marketplace which enables the company to deliver important value to the consumer and the growing market for biomethane.