Solar Integrated Roofing Corp (OTCMKTS:SIRC) Stock Surges 35% in a Week: Here is Why

Solar Integrated Roofing Corp (OTCMKTS:SIRC) is a single-source integrated roofing and solar system installation company that recently announced unaudited preliminary record sales of approximately $25 million in the second quarter of 2021. In addition, the company confirmed its financial forecast of at least $100 million in revenue growth by the end of this fiscal year.

Solar Integrated Chief Executive Officer and Chairman David Massey said the second quarter of this fiscal year was marked by strong organic growth of the company’s complementary EV charging, solar and roofing brands, which helped achieve record sales.

Specifically, he claimed the sales they saw in this quarter didn’t include an entire quarter of sales at the scale of USA Solar Network and Future Home Power. David said they believe they can double the sales they’ve had in this quarter going forward as they get an entire quarter out of the acquisitions they’ve made recently and continue to drive the company’s rapid organic growth.

Market reaction:

On Wednesday, SIRC stock fell 3.17% to $0.59 with more than 2.90 million shares, compared to the average volume of 2.18 million shares. The stock has moved in the range of $0.5700 – 0.6500 after opening the trade at $0.64.

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