Duos Technologies Group, Inc. [NASDAQ: DUOT] revealed Wednesday that it has been granted a new multi-year contract from its existing customer CN. The agreement will be effective immediately.
The contract includes complete North American service, support, maintenance, and spare components sourcing for the seven Railcar Inspection Portal currently working at CN.
As per the agreement, Duos Technologies will pinpoint the specific railcar inspection points using the Duos rip system. Those inspections points are monitored using AI applications which is being developed by the railroad and then combined with Duos centraco platform.
Shares of Duos Technologies traded up 6.93% as it gained +0.25 on the trading session of Tuesday. It had a trading volume of 17.13K as compared to the average volume of 9.52K.
In the past 52-weeks of trading, DUOT stock has changed between the 52-weeks low range of $3.26 & a high range of $9.23. Duos have traded up 18.40% from its 52-weeks low and moved down -58.16% from its 52-weeks high.
Looking at its liquidity, it has a current ratio of 3.10. This company market capitalization has remained high, hitting $13.36 million at the time of writing.