CVD Equipment Records 73% Increase In 1H Orders

  • CVD Equipment Corp CVV witnessed increased order demand in 2Q22. The orders exceeded $12.6 million in the quarter compared to ~$6 million in 2Q21.
  • The orders stood at $16.7 million for the first half of 2022, an increase of 73.2% Y/Y.
  • CVD's orders in 1H of 2022 were attributed to the strong demand for the PVT-150 system developed to support the manufacturing of Silicon Carbide wafers used in high-power electronics for EV charging & power transmission.
  • The need for nanotechnology materials, including carbon nanotubes/fibers, nanomaterials on powder, and superconducting tape, also contributed to the order flow.
  • The company received 20 combined CVD systems orders in the first half.
  • Price Action: CVV shares are trading higher by 4.63% at $4.14 on the last check Thursday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsPenny StocksBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!