Turbo Energy SA stock surges after crossing above SMA
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 10 2024
0mins
Turbo Energy SA's stock price surged by 37.14% after crossing above its 5-day SMA, reflecting strong investor interest.
The significant price increase is attributed to broad market strength, with the Nasdaq-100 rising 0.87% and the S&P 500 up 0.53%, indicating a favorable environment for growth stocks like Turbo Energy SA.
This upward movement suggests that investors are optimistic about the company's future prospects, potentially driven by broader trends in the energy sector.
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Analyst Views on TURB
About TURB
Turbo Energy SA (Turbo Energy) is a Spain-based company involved in the electric power industry. The Company works on launching photovoltaic solutions for any type of building, from collective solutions to the simplest plug & play solutions that do not require an installer. The Company has more than 20 years of experience of the entire utility-scale photovoltaic value chain and a +700MW plant development pipeline. It aims to support the decentralization of energy generation by acting on Energy Communities, Carbon Credits and Virtual Power Plants. It also makes energy independence possible through technology and customization. Through its application one can control and customize the generation and consumption of energy in the business and access in real time to the status of the batteries, solar production, alerts and energy, environmental and bill savings.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Reduced Operating Loss: The company's operating loss decreased from $4.11 million in the prior year to $0.91 million, indicating improved operational efficiency and effective cost control measures, enhancing future profitability potential.
- Net Loss Improvement: Net loss declined from $3.45 million in 2024 to $1.36 million, reflecting positive progress in the company's financial health, which may boost investor confidence.
- Optimistic Outlook: Turbo Energy expects FY 2025 revenue to range between $22.5 million and $23.5 million, with shares jumping 13%, indicating market optimism regarding the company's future growth prospects.
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- Contract Scale: Turbo Energy recently secured a $53 million contract to deploy approximately 366 MWh of solar energy storage capacity across more than ten industrial facilities in Spain, showcasing its growth potential in large-scale industrial deployments.
- Market Expansion: This collaboration is expected to support Turbo Energy's expansion in high-growth commercial and industrial markets, leveraging Hithium's global scale to accelerate the growth of its international project pipeline, particularly in software-driven energy management services.
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- Market Potential: According to projections from the DOE and NREL, Turbo Energy is poised to tap into an annual market exceeding $12.5 billion by 2030, indicating strong growth potential.
- Growing EV Demand: With the U.S. EV fleet expected to reach approximately 33 million by 2030, Turbo Energy's technology is set to meet the increasing charging demand, thereby driving future revenue growth for the company.
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- Stock Price Surge: Following the preliminary revenue announcement, TURB shares jumped over 13% in pre-market trading to $2.84, reflecting investor optimism regarding the company's growth prospects.
- Strengthened Strategic Positioning: The company has solidified its market position through UL certification, proprietary patented technologies, and partnerships with leading global technology firms, including significant contracts with industrial clients like Pamesa Grupo Empresarial.
- Contract Value Contribution: Approximately $10 million of the projected FY 2025 revenue is derived from projects executed with IM2 Energía Solar, focusing on energy solutions for electro-intensive industrial clients, where Turbo Energy provides advanced energy storage systems and intelligent energy management solutions, enhancing its growth trajectory in this sector.
See More
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- Revenue Growth: Turbo Energypress reported FY revenue of $23.46 million, demonstrating the company's stable performance in the market, achieving a commendable revenue level despite facing challenges.
- Reduced Operating Loss: The company's operating loss decreased from $4.11 million in the prior year to $0.91 million, indicating improved operational efficiency and effective cost control measures, enhancing future profitability potential.
- Net Loss Improvement: Net loss declined from $3.45 million in 2024 to $1.36 million, reflecting positive progress in the company's financial health, which may boost investor confidence.
- Optimistic Outlook: Turbo Energy expects FY 2025 revenue to range between $22.5 million and $23.5 million, with shares jumping 13%, indicating market optimism regarding the company's future growth prospects.
See More
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- Strategic Partnership: Turbo Energy has formed a strategic partnership with Hithium, a top-tier global battery storage provider, to integrate its AI-driven optimization platform into Hithium's battery systems, aiming to enhance intelligent energy storage infrastructure across commercial and industrial applications in Europe and Latin America.
- Contract Scale: Turbo Energy recently secured a $53 million contract to deploy approximately 366 MWh of solar energy storage capacity across more than ten industrial facilities in Spain, showcasing its growth potential in large-scale industrial deployments.
- Market Expansion: This collaboration is expected to support Turbo Energy's expansion in high-growth commercial and industrial markets, leveraging Hithium's global scale to accelerate the growth of its international project pipeline, particularly in software-driven energy management services.
- Integration Advantage: Turbo Energy's AI platform transforms battery systems into dynamic, optimized energy assets, improving efficiency and reducing exposure to energy price volatility, marking an increasing significance of intelligent energy storage in global energy markets.
See More
Turbo Energy Secures U.S. Patent for EV Charging Optimization
- Patent Approval: Turbo Energy has secured U.S. Patent No. 12.5M B2, focusing on EV charging optimization for solar and battery homes, further solidifying its SUNBOX platform's market position.
- Market Potential: According to projections from the DOE and NREL, Turbo Energy is poised to tap into an annual market exceeding $12.5 billion by 2030, indicating strong growth potential.
- Growing EV Demand: With the U.S. EV fleet expected to reach approximately 33 million by 2030, Turbo Energy's technology is set to meet the increasing charging demand, thereby driving future revenue growth for the company.
- Stock Surge: Following the patent announcement, Turbo Energy's shares rose by 15.72% to $2.61 in pre-market trading, reflecting market optimism regarding its future prospects.
See More
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- Patent Acquisition: TurboEnergy has secured a patent for an AI-driven platform focused on solar energy, battery technology, and home energy management.
- Innovative Technology: The platform aims to enhance energy efficiency and sustainability in residential settings through advanced AI integration.
See More
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- Merger Transition: Urban-Gro's merger with Flash Sports and Media signifies a successful shift from indoor agriculture to sports media, enhancing its growth potential in new markets, with a stock surge of 731% in March.
- Energy Market Gains: Turbo Energy benefited from rising energy prices due to tensions in the Middle East, reporting a $53 million backlog in industrial orders in March, showcasing its strong position in energy security, despite a 6% drop in premarket trading.
- Gas Asset Appreciation: AleAnna announced significant increases in proved reserves across key Po Valley fields amid global LNG supply shocks, enhancing the strategic importance of its Italian gas assets, with a stock increase of over 25% in March.
- Sales Growth and Outlook: bioAffinity's lung diagnostic product CyPath showed strong sales growth, with a projected 100% growth by 2026, indicating a successful transition to revenue-generating operations, leading to a 233% stock increase in March.
See More
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- Revenue Growth Projection: Turbo Energy anticipates FY 2025 revenue between $22.5 million and $23.5 million, representing a remarkable 130%-140% year-over-year increase from FY 2024's $9.77 million, indicating strong market demand and business expansion potential.
- Stock Price Surge: Following the preliminary revenue announcement, TURB shares jumped over 13% in pre-market trading to $2.84, reflecting investor optimism regarding the company's growth prospects.
- Strengthened Strategic Positioning: The company has solidified its market position through UL certification, proprietary patented technologies, and partnerships with leading global technology firms, including significant contracts with industrial clients like Pamesa Grupo Empresarial.
- Contract Value Contribution: Approximately $10 million of the projected FY 2025 revenue is derived from projects executed with IM2 Energía Solar, focusing on energy solutions for electro-intensive industrial clients, where Turbo Energy provides advanced energy storage systems and intelligent energy management solutions, enhancing its growth trajectory in this sector.
See More
