XsunX, Inc. (XSNX) Shining After Latest Earnings Results: $10million Sales Pipline Primed!
Throughout the course of this year, I’ve focused on several key companies that I believe to have incredible potential and XsunX, Inc (XSNX) is one of these. Since shifting its business model from manufacturing solar cells and components to a more sales driven strategy, not only has the company realized its first revenue EVER, but it has also proven that XSNX is growing.
This morning, the company announced some great results from the quarter which I believe could spark a rally with this company. Revenues continued to improve growing by 60% in its third period while gross margins remained on target in excess of 30%! Now this time last year, the company was still in its development stages but since focusing on commercial solar sales & installation, XSNX is well on its way to having a milestone year.
Furthermore, the future looks very bright (no pun intended) for the company in my opinion. CEO Tom Djokovich revealed that XsunX, Inc has a monster sales pipeline and keeping in mind that typical solar sales take roughly 3-6 months to close, there could be a massive influx of revenues come Q4 this year.
“The other great news is that we are continuing to build sales momentum with a rapidly growing project bid channel now in excess of $10 million in commercial solar system proposals.”
states Mr. Djokovich
To add more fuel to the fire, the company has brought on additional sales team members to help build the depth and quality of the company’s bid channel. These results certainly support the company’s decision to move ahead with a new operating strategy and for early investors looking at what could be on the horizon with XSNX’s sales pipeline, there may be big opportunity here especially at these levels.
Currently XSNX has seen a pullback from July highs, having dropped to lows of $0.0061 on Friday. The good news is that we’re looking at this on a potential upswing. During the Monday session, XSNX moved up 31% from the previous close and even finished out the afternoon at the high of the day. With such a jump on light to moderate volume, my attention will be on the early morning spark that this news could ignite:
We’re also looking at what could be a momentum fueled breakout in the works. Both RSI and MACD are at key reversal points. Specifically RSI is approaching the 50 Line which has typically been a marker of increased bullish activity and MACD is just about to cross that red signal line. Many times in the past, this particular set-up has been a perfect storm for a rally from previous lows.
With today’s news and this recent upswing on the chart, I think that XsunX is one solar play that could be ready to shine strong.
Stay tuned for more!
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