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Healthcare tech stock surges on financial results: Proactive’s daily small cap movers

Last updated: 16:15 02 Nov 2022 EDT, First published: 12:40 02 Nov 2022 EDT

PyroGenesis Canada Inc. -

4:05pm: Brixton Metals shines on BHP investment 

Reliq Health Technologies Inc (TSXV:RHT) shares climbed 17% to $0.61 on Wednesday after the healthcare technology company revealed that its fiscal 2022 revenue soared 485% to $8,551,807, and added that it expects its growth to accelerate through the end of calendar year 2022 and through 2023.

As well, shares of Martinrea International Inc (TSX:MRE) jumped 13% to $10 as the global automotive supplier said it generated record third-quarter 2022 sales of $1.2 billion, a 40.7% year-over-year increase, along with a quarterly record Adjusted EBITDA of $140.2 million, which reflected higher margins and increased production sales.

Martinrea also noted that it expects 2023 to be a “strong year, with higher sales, margins, earnings and free cash flow compared to 2022.”

The Lion Electric Company (TSX:LEV), meanwhile, reported that it has produced its first zero-emission LionC school bus in its US factory located in Joliet, Illinois. The manufacturer of all-electric medium and heavy-duty vehicles added that it will initially focus on the manufacturing of all-electric school buses at its Joliet site, with production gradually ramping up, starting in the fourth quarter of 2022, to an eventual capacity of up to 20,000 all-electric buses and trucks. Lion Electric stock moved up 7% to $4.38 following the announcement.

In addition, shares of Brixton Metals Corporation (TSXV:BBB) gained 12% to $0.185, on volume of more than 1.2 million shares, as the Canadian exploration company said it has entered into a non-brokered private placement agreement with a wholly-owned subsidiary of BHP Group Limited, in which BHP will take a 19.9% equity stake in Brixton at a price of C$0.18 per share.  

And, PyroGenesis Canada Inc (TSX:PYR) shares rose as much as 11% before ending up 2% to $1.15 on Wednesday after the manufacturer of advanced plasma processes announced that it has passed the annual quality audit for two key international standards and has provided an update on its 3D printing metal powders business line, saying it has entered into early-stage discussions with at least one potential partner to build and operate a metal powder manufacturing facility in Europe. 

12:15pm: Reliq Health Technologies, Martinrea International make big gains

Reliq Health Technologies Inc (TSXV:RHT) shares climbed 18% to $0.62 on Wednesday after the healthcare technology company revealed that its fiscal 2022 revenue soared 485% to $8,551,807, and added that it expects its growth to accelerate through the end of calendar year 2022 and through 2023.

As well, shares of Martinrea International Inc (TSX:MRE) jumped 14% to $10.12 as the global automotive supplier said it generated record third-quarter 2022 sales of $1.2 billion, a 40.7% year-over-year increase, along with a quarterly record Adjusted EBITDA of $140.2 million, which reflected higher margins and increased production sales.

Martinrea also noted that it expects 2023 to be a “strong year, with higher sales, margins, earnings and free cash flow compared to 2022.”

The Lion Electric Company (TSX:LEV), meanwhile, reported that it has produced its first zero-emission LionC school bus in its US factory located in Joliet, Illinois. The manufacturer of all-electric medium and heavy-duty vehicles added that it will initially focus on the manufacturing of all-electric school buses at its Joliet site, with production gradually ramping up, starting in the fourth quarter of 2022, to an eventual capacity of up to 20,000 all-electric buses and trucks. Lion Electric stock moved up 11% to $4.54 following the announcement.

And, PyroGenesis Canada Inc (TSX:PYR) shares rose 9% to $1.23 on Wednesday after the manufacturer of advanced plasma processes announced that it has passed the annual quality audit for two key international standards and has provided an update on its 3D printing metal powders business line, saying it has entered into early-stage discussions with at least one potential partner to build and operate a metal powder manufacturing facility in Europe. 

READ: PyroGenesis Canada passes two annual international standards audits; provides update on 3D printing of metal powders

Contact Sean at sean@proactiveinvestors.com

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