SaverOne 2014 Ltd (SVRE) witnessed a significant surge in its after-market trading on Tuesday, with the stock price soaring by 34.80% to reach $1.84.
This surge follows the company’s announcement of an expanded relationship with Isuzu Importer to Israel, resulting in an additional 40 installations of SaverOne’s Driver Distraction Prevention Solution (DDPS) for Isuzu trucks.
In regular trading, the stock closed at $1.36, reflecting a slight decrease of 0.36%. This news report aims to provide investors with insights into SaverOne’s recent developments and financial performance.
Expanding Relationship with Isuzu Importer
SaverOne 2014 Ltd. (SVRE) recently secured another order from Universal Trucks Israel, Ltd. (UTI), the importer of Isuzu Trucks to Israel.
The order entails the installation of SaverOne’sIn Cabin Driver Distraction Prevention Solution on 40 additional Isuzu vehicles.
This order follows the successful implementation of the SaverOne system in approximately 100 Isuzu trucks last year, highlighting UTI’s satisfaction with the system’s performance and their continued trust in SaverOne’s technology.
Positive Patent Grant and Technological Advancements
In May, SaverOne announced the granting of its 9th patent, titled “System and Method of Locating Wireless Devices in a Volume.” This patent further strengthens the company’s position in the transportation safety technology sector.
The patented technology enables in-vehicle systems to accurately locate drivers’ cellphones, preventing the use of dangerous applications while driving and potentially mitigating collisions.
This innovation showcases SaverOne’s commitment to improving road safety and underscores the potential of its technology in the market.
Successful Pilot Demonstration in Abu Dhabi
SaverOne concluded a successful pilot demonstration with the Integrated Transport Centre (ITC), a part of Abu Dhabi’s Ministry of Transport. The demonstration involved the installation of the SaverOne protection system on a limited number of ITC buses, proving its effectiveness in preventing distracted driving due to mobile phone use.
The positive outcome has paved the way for potential installations in Abu Dhabi’s entire fleet of 900 public transportation buses. Furthermore, SaverOne aims to extend its reach to the thousands of school buses operated daily throughout the country, showcasing the significant growth opportunities in the United Arab Emirates market.
Financial Performance and Ratios
SaverOne’s stock price has experienced fluctuations in recent periods, with a 1-day price change of -0.36% and a year-to-date price change of 9.2%. However, the stock has shown a decline of 50.54% over the past year, aligning with the company’s challenges in the market.
Financial ratios indicate a negative price-earnings ratio (TTM) of -0.8, while other profitability ratios reflect the impact of the company’s investments in growth and development.
SaverOne 2014 Ltd (SVRE) has exhibited promising signs with its surge in after-market trading following the expansion of its relationship with Isuzu Importer to Israel. The additional order for SaverOne’s Driver Distraction Prevention Solution affirms the satisfaction of Isuzu truck users with the system’s performance.
Moreover, the company’s successful patent grant and pilot demonstration in Abu Dhabi position it as a leader in transportation safety technology. However, investors should be mindful of the stock’s past volatility and negative price-earnings ratio (TTM).
SaverOne’s commitment to innovation and its potential for growth in the United Arab Emirates market make it an intriguing investment opportunity for those willing to embrace the risks associated with a developing technology company.