Shares of Galaxy Next Generation Inc. (OTCMKTS:GAXYD) have been trending higher over the past sessions.
Market Reaction
On Wednesday, GAXYD stock fell 6.71% to $0.57 with 77k shares, compared to its average volume of 8.2 million shares. The stock moved within a range of $0.5100 – 0.6400 after opening trade at $0.55.
Galaxy Next Generation Ships 700 Units under Its Supply Agreement from an OEM Customer
Galaxy Next Generation, Inc. (OTCMKTS:GAXYD) that focuses on interactive learning technology solutions has made an announcement about receiving and now successfully delivering an extra 700 units to an OEM customer for its innovative audio products and accessories for use in the K-12 education market.
The company’s interactive learning technology solutions allow both participant and presenter to engage in a fully collaborative instructional environment. Products include own private-label interactive touch screen panel as well as numerous other national and international branded peripheral and communication devices.
Gary LeCroy, Galaxy’s Chief Executive Officer, has made a statement about working closely with OEM customers, so they can meet and exceed their end customers’ requirements, expectations and timing. The team has put in immense effort to shorten lead times and obtain components in sufficiently bigger quantities to scale up build time and sell through timeframe for these customers. The expansion plan includes investing in the OEM division and audio product line.
This new release of order(s) comes under their current Blanket Purchase Order, which demonstrates the production capability of the company’s US manufacturing facility in Arizona. Its represents just one of the avenues where the classroom audio products are being displayed properly and receiving good response.
Traders Review
GAXYD stock is trading below the 20-Day and 50-Day Moving averages of $0.81 and $1.14 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.83.
