American Electric Technologies, Inc. (AETI) Stock Closes Up Almost 70% After New Credit Agreement is Reached


Shares of American Electric Technologies, Inc. (NASDAQ:AETI) closed up huge today after the company announced that they have entered into a $8.5 million credit facility with Frost Bank of Texas.

The new agreement should provide American Electric Technologies, Inc. (NASDAQ:AETI) with the financial resources they need to grow the company further. Investors certainly liked the sound of the deal which includes a $4 million line of credit with a 2-year term and a $4.5 million declining revolving line of credit.

“This new Credit Facility with Frost Bank provides us the liquidity and the flexibility to execute our growth strategy in the oil and natural gas and power generation and distribution sectors of the energy industry,” said Bill Brod, AETI’s Senior Vice President and Chief Financial Officer.

The stock increased 69.04% or $1.45 during the last trading session, hitting $3.55. About 555,774 shares traded hands or up 2401.80% from the average. AETI has declined 61.82% since June 1, 2015 and is currently downtrending. It has underperformed the S&P500 by 57.13%.

The institutional sentiment decreased to 0.5 in Q2 2015. It’s down 1.50, from 2 in 2015Q2. The ratio dived, as 4 funds sold all their American Electric Technologies, Inc. shares they owned while 4 reduced their positions. 1 funds bought stakes while 3 increased their total positions. Institutions now own 7.85 million shares which is 138.90% more than the previous share count of 3.29 million in 2015Q2.

Tieton Capital Management Llc holds 1.56% of its total portfolio in American Electric Technologies, Inc., equating to 643,111 shares. S Squared Technology Llc owns 144,290 shares representing 0.44% of their total US portfolio. Moreover, Sfmg Llc has 0.24% of their total portfolio invested in the company, equating to 388,986 shares. The Illinois-based Ariel Investments Llc has a total of 0.05% of their portfolio invested in the stock. Financial Advisory Group, a Texas-based fund reported 29,207 shares owned.

Since April 7, 2015, the stock had 2 buys, and 0 insider sales for a total of $10,318 in net activity. Miller William Charles bought 2,000 shares worth $6,000. Peacock James Hoke Ii bought 1,375 shares worth $4,318. Steffek James J sold 300 shares worth $1,580.

American Electric Technologies, Inc