Benzinga | Mar 12, 2021 02:20PM EST

Why Is AmpliTech Stock Surging Today?

* Manufacturer of custom and standard state-of-the-art RF components AmpliTech Group Inc (NASDAQ: AMPG) secured over $500,000 of orders from a major Fortune 100 defense contractor and a major satellite cable TV broadcaster.

* AMPG subsidiary Specialty Microwave, a satellite communications (SATCOM) products company, secured a $190,000 order from a leading broadcaster to use its unique equipment to process satellite ground station signals behind the antennas. On the same day, AMPG received a $366,000 order for its state-of-the-art low noise amplifiers from a major defense contractor supporting the METIS Program.

* CEO Fawad Maqbool ascribed the order flow to the pandemic induced pent-up demand.

* Price action: AMPG stock was up 7.65% at $11.68 on the last check Friday.