The company says the contract, which will entail Urthecast providing earth imagery data and engineering and “value-added” services, includes a payment of 20% of the value of contract upfront.
“The signing of this contract is a great accomplishment for the UrtheCast team, and a testament to the quality of work we continue to achieve,” said CEO Scott Larson. “We’re looking forward to beginning work on what we expect will be remarkable, innovative services.”
In October, Clarus Securities analyst Eyal Ofir reiterated his “Speculative Buy” rating and one year target of $5.50 on Urthecast, which implied a return of 370% at the time of publication. Ofir noted that management expected a forthcoming $65-million contract would have margins of between 85-90%.
An early entry in the Earth Observation market, Vancouver-based Urthcast aims to deliver a near realtime stream of Earth in Ultra-HD through cameras placed on the International Space Station. The company expects to target defense and government agencies, but also broader commercial markets such as the news media, agriculture and environmental monitoring.
At press time, shares of Urthcast were up 19.4% to $1.60.
A major development came down the pipe this week at the U.S. Drug Enforcement Agency has reportedly decided to reschedule… [Read More]
Following the company's first quarter results, Roth MKM analyst Chip Moore remains neutral on Generac Holdings (Generac Holdings Stock Quote,… [Read More]
The stock has climbed slowly but surely since last October. But is there still money to be made on Bombardier?… [Read More]
Following the company's first quarter results, Roth MKM analyst Rohit Kulkarni has maintained his "Buy" rating on Amazon (Amazon Stock… [Read More]
It happened. The move that everyone in the cannabis sector was hoping for came about swiftly on the last day… [Read More]
Following the company's first quarter results, Roth MKM analyst Suji Desilva has maintained his "Buy" rating on Advanced Micro Devices… [Read More]