Published on 4 Jan 2024 on Zacks via Yahoo Finance
M-tron (MPTI) Hits 52-Week High: Here's What's Driving It
M-tron Industries, Inc. MPTI reached a new 52-week high of $41.62 on Jan 3. The stock pulled back to end the trading session at $36.23, down 1.5% from the previous day’s closing price of $36.79.This currently Zacks Rank #1 (Strong Buy) company’s shares have surged 236.9% in the past six months, outperforming the Zacks Engineering - R and D Services industry’s 3.8% growth, the Zacks Construction sector’s 13.2% increase and the S&P 500 Index’s 5.7% rise.The company is benefiting from increased customer demand, especially for defense products despite lingering supply-chain constraints, and diverse end- markets. The advance order phenomenon is driving the backlog of the company, and thus, the business volume. The separation of the company from The LGL Group, Inc. has encouraged its ability to facilitate strategic plans and fueled growth prospects.
Image Source: Zacks Investment Research