Tuesday Stock Breafing: Arotech Corporation (NASDAQ:ARTX), Lithium Exploration Group Inc (OTCMKTS:LEXG), China BAK Battery Inc. (NASDAQ:CBAK)

Nicholas Maithya - March 4, 2014

Boston, MA 03/04/2014 (wallstreetpr) – Arotech Corporation (NASDAQ:ARTX) rose as much as 15 percent to attain a new 52-week high at $4.17. That gain has now been explained. In the Monday press release, the company announced that it received a significant order worth $3.5 million. That order, the company said, came from one of its current customers. The repeat order involves supply of batteries and chargers that will be used in thermal imaging system and tactical communication devices. ARTX stated that the order came through its Battery and Power Systems arm. Commenting on the latest development, CEO and Chairman Robert S. Ehrlich observed that they are excited for the excellent start in 2014. And indeed that excitement was also felt in the stock market where shares of Arotech Corporation (NASDAQ:ARTX) were traded at $3.74, after more than 9.6 percent gain.

Lithium Exploration Group Inc (OTCMKTS:LEXG) announced Monday that it was done with the final part of retiring debentures. The company stated in a press release the final conversion amounted to $1.68 million. Thus, LEXG chief executive Alex Walsh observed that clearing the note from their balance sheet was an important step towards attaining more flexibility. And that flexibility is important as the company sets its eyes on future acquisition and development, especially in Western Canada. LEXG is one of the companies excited by the growing application of lithium batteries as it stands to benefit from such developments. Lithium Exploration Group Inc (OTCMKTS:LEXG) had its shares exploding more than 207 percent to $0.194 in the previous trading session.

China BAK Battery Inc. (NASDAQ:CBAK) was part of the beneficiaries in the excitement being seen in the lithium battery market. The stock gained from the upward rally seen in the stock of peers. Generally traders are convinced that the good tide that is seen in other lithium stocks will eventually catch up with CBAK. And when that happens, it will be good news all through. Shares of China BAK Battery Inc. (NASDAQ:CBAK) managed to post a new one-year high at $4.29. The shares later settled at $3.99, with more than 7.55 percent gain.


Nicholas Maithya

Nicholas is a Financial Analyst by profession, who enjoys writing about investments, technological developments, business, economics and other financial topics at various financial publications. Join him here on Wallstreetpr.com as he endeavors to deliver to you the latest breaking news on the above mentioned fronts. Contact him by email at [email protected] or follow Nicholas Kitonyi @nmaithyak on Twitter.

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