Ault Alliance, Inc. AULT shares are trading higher Monday. The company announced Gresham Worldwide's subsidiary, Enertec Systems 2001 Ltd., was awarded a $20 million contract.
The Details:
Ault Alliance announced the awarding of a $20 million contract by its majority-owned subsidiary, Giga-tronics, Inc. also known as Gresham Worldwide.
Under the new contract, Enertec Systems 2001, Ltd. will supply a strategic customer with electronic solutions spanning the defense, healthcare, telecommunications and transportation sectors.
Zvika Avni, Enertec CEO, stated, "This order is a testament to Enertec's unique technologies, high-quality offerings and long-standing relationships with customers. We expect to receive additional large orders to deliver similar bespoke solutions for this customer over the next three years."
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AULT Price Action: According to Benzinga Pro, shares are up nearly 5% at 29 cents at the time of publication.
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