CCL - BHTG Stock: The Carnival Deal That Has BioHiTech Global Cruising Higher Today
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BioHiTech Global (NASDAQ:BHTG) stock is up on Thursday after announcing an expanded deal with Carnival (NYSE:CCL).
A BioHiTech Global news release reveals that the company is planning to provide its technology to more ships in the Carnival fleet. This will also have it reaching additional geographies and cruise lines in those areas operated by CCL.
According to a news release, new orders from Carnival include $1.8 million in Revolution Series food digesters. These will go to 15 ships not previously equipped with tech from BioHiTech Global.
BioHiTech Global notes that among these ships being covered are two from the Cunard Cruises business operating in the U.K. There are also four ships in Costa Group’s Costa Cruise Line out of Italy that are getting the food digesters.
BioHiTech Global points out that its Revolution Series food digesters offer a couple of unique benefits for users. That includes calculating the weight and volume of food waste digested. They also reveal net food waste reduction and CO2 reduction.
Tony Fuller, CEO of BioHiTech Global, said the following about the news sending BHTG stock higher today.
“We have been working swiftly and efficiently to fulfill our orders with Carnival. These orders expand our worldwide reach and continues to support Carnival’s commitment to sustainable food waste management and environmental compliance. Including the most recent purchase orders, BioHiTech has received more than $8.4M in purchase orders from Carnival and we anticipate a continued rollout of our onboard bio-digester and analytics solution to the remaining ships under the Carnival umbrella.”
BioHiTech Global says that it expects to complete the orders for the Revolution Series food digesters in the second and third quarters of 2021.
News of today’s deal with Carnival has shares of CCL stock seeing extra interest from investors. That covers more than 24 million shares of the stock changing hands. For comparison, the daily average trading volume for the stock is 1.7 million shares.
BHTG stock was up 2.4% as of Thursday morning and is up 57.8% since the start of the year.
BioHiTech Global isn’t the only company seeing major movement recently.
Other heavy trades that investors need to keep an eye on include Upstart (NASDAQ:UPST), Sino-Global (NASDAQ:SINO), Sundial Growers (NASDAQ:SNDL), Neos Therapeutics (NASDAQ:NEOS), Aytu BioScience (NASDAQ:AYTU), and AMC Entertainment (NYSE:AMC).
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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