Benzinga | Aug 25, 2020 11:32AM EDT

Why Sigma Labs Stock Is Trading Higher Today

Sigma Labs (NASDAQ:SGLB) shares are trading higher on Tuesday. The company announced it has been awarded a contract by Mitsubishi Heavy Industries to implement PrintRite3D in-process quality assurance software.

The PrintRite3D system will be installed on a laser powder bed fusion system for the development and qualification of MHI additive manufacturing production processes.

Sigma Labs is a technology company that specializes in the development and commercialization of manufacturing and materials technologies. Its principal business activities include the development of its In-Process Quality Assurance (IPQA) suite of technologies and the commercialization of both its IPQA and materials-related suite of technologies, with its focus on three-dimensional printing (3DP) industry.

The company is engaged in a range of activities in which it seeks to commercialize technologies and products in various industry sectors, such as aerospace and defense manufacturing; energy and power generation; bio-medical manufacturing; automotive manufacturing, and other markets, such as firearms and recreational equipment.

Sigma Labs shares were trading up 44.98% at $3.61 on Tuesday during the time of publication. The stock has a 52-week high of $11.70 and a 52-week low of $1.97.