Surna Inc (OTCMKTS: SRNA) is a manufacturer of environmental control and air sanitation systems for indoor cannabis cultivation facilities. The Boulder-based stock operates both in the US and Canada, providing water and energy-efficient solutions.
Thanks to Surna’s help, cannabis growers can meet the demands which successful cannabis cultivation requires. The company has a lot of experience although there have been failures along the way; even those have collectively have helped it to grow into its successful version.
Surna Stock Price Analysis
Surna’s price had a humble start, which is usually the case with greatest success stories. The company experienced massive growth in 2017 after having experienced some period of stability.
The growth extended to early last year, where the stock price was at $0.100. During that time the price grew almost four times to reach around $0.450. Things, however, got rough the entire last year with constant drops (still no sharp drops).
Earlier this year, the drop came to an end, and Surna saw some small surges; however, the damage was already done, the average was already dragged to $0.075. Until March, there was relative stability although there was a decline back to $0.06.
After that, the company’s stock increased again before getting on a continuous drop to where it is currently placed, at $0.0479.
An Overview of Surna Inc
With an array of experience in the industry, Surna has sharpened its expertise offering best solutions alongside teaching clients on ideal conditions for success as well as high-quality marijuana growth.
The company works with a variety of clients, be it an expert or a beginner in the field. The stock has had some ups and downs along the way just like most of the stocks in the industry, but it has gone past them successfully to the point that it’s now placed to take a hike.
Subsequently, Surna Inc. is engaged in the distribution of energy recovery units, chillers, and fan coils. It may seem that there’re no clear-cut updates to trigger a bounce, but technically the stock is on the right track for the big year 2019.
What Surna Inc Has Been Up To
The company had made changes to its management as the year started which clearly had an impact on the stock, seemingly indicating confidence in the stock which is crucial for the price surge. Besides, the new management is proving to propel the company forward in a manner that is required.
Also, not too long ago, Surna signed two project contracts for a combined value of around $4.7 million. The first contract is the new facility construction project for about $2.2 million for a 90,000 sq. Foot indoor marijuana facility built in the Midwest.
The second contract is a facility expansion project for $2.5 million for the 40,000 sq. Foot expansion of the fully operational as well as licensed indoor marijuana cultivation facility.
Another major update was the conversion of $2.76 million of the company’s 10% convertible promissory notes.
The Q4 2018 Report
Recently, Surna issued its Q4 2018 results, and one thing was impressive from the report which points to a bright future for the company. From the report, the revenue for 2018 went up by more than $2 million, compared to that of 2017.
The results meant the stock recorded a significant 33% growth despite the unfriendliness it experienced on the market. Besides, the net loss for 2018 was relatively smaller than that of Q4 2017, meaning the stock is just getting stronger each year.
What Now for Surna?
The company has already set a precise business and strategic plan for this year and 2020, which includes inter-related initiatives too. The plans include such as leveraging the stock brand name, positioning as well as messaging the stock in environmental controls management, and also offering a broader product alongside the service array.
For any indoor grow operation, the firm to look has to be Surna, and given the clear projections the company is working on, the stock is undoubtedly bound to get into an upward movement soon.
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Disclosure: We have no position in SRNA and have not been compensated for this article.
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