Shares of Micronet Enertec Technologies, Inc. (NASDAQ:MICT) Up Big After Receiving $1,060,000 Purchase Order

Designer, developer, manufacturer and seller of rugged mobile computing devices, Micronet Enertec Technologies, Inc. (NASDAQ:MICT), announces that its subsidiary has received a P.O. valued at approx. $1,060,000 for a recently released product.

MONTVALE, N.J., Dec. 28, 2016 /PRNewswire/ — Micronet Enertec Technologies, Inc. (MICT) announced today that its Mobile Resource Management (MRM) subsidiary Micronet, (via Micronet Inc., its fully owned subsidiary) received a continuous purchase order valued at approximately $1,060,000 for its recently released TREQr5 product from a leading fleet management solutions provider.

TREQr5 is an innovative ruggedized telematics android on-board computer optimized for Internet of Things (IOT) and Fleet Management Applications. The Company is expecting to fulfill the order by the end of Q1 2017.

“We are very pleased to continue our momentum and to receive such a significant purchase order from an established customer and to advance development of new and sophisticated applications.  Our TREQr5 is gaining momentum and we look for it to be a great complement to our product portfolio thanks to its unique features and flexible architecture,” said Ken Wiesner, Chief Executive Officer of Micronet Inc.  

The TREQr5, and Micronet’s other technologies and services, provide a comprehensive suite of Fleet Management products, which are key assets that help its customers focus on driver safety, efficiency and compliance, Electronic Logging Devices (ELD) and Hours of Service (HOS), driver coaching and fuel reports for Local Fleets and Heavy Duty trucks and Equipment.

About Micronet Enertec Technologies, Inc.

Micronet Enertec Technologies, Inc. (MICT) operates through two primary companies, Enertec Systems 2001 Ltd its wholly-owned subsidiary, and Micronet Ltd., in which it has a controlling interest. Micronet operates in the growing commercial MRM market, mainly in the United States. Micronet designs, develops, manufactures and sells rugged mobile computing devices that provide fleet operators and field workforces with computing solutions in challenging work environments. Enertec operates in the Defense and Aerospace markets and designs, develops, manufactures and supplies various customized military computer-based systems for missile defense systems, command and control and others. The Company’s products, solutions and services are designed to perform in severe environments and battlefield conditions. For more information, please visit: www.micronet-enertec.com, the content of which is not incorporated by reference into this press release.

Forward-looking Statements

This press release contains express or implied forward-looking statements within the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws.  These forward-looking statements include, but are not limited to, those statements regarding when we discuss the timing of fulfilling the TREQr5 order, the use and functions of the TREQr5 product and our development of new and sophisticated applications.  Such forward-looking statements and their implications involve known and unknown risks, uncertainties and other factors that may cause actual results or performance to differ materially from those projected. The forward-looking statements contained in this press release are subject to other risks and uncertainties, including those discussed in the “Risk Factors” section and elsewhere in the Company’s annual report on Form 10-K for the year ended December 31, 2015 and in subsequent filings with the Securities and Exchange Commission. Except as otherwise required by law, the Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

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Micronet Enertec Technologies, Inc. (NASDAQ:MICT) shares are trading +12.82% on the news and in the range of $1.32 – 1.77 during the current trading session.  When taking a look at which direction the stock might be headed, investors often look to brokerage analysts who cover the stock.  Sell-side research firms on Wall Street currently have a consensus one-year price target of $6.00 on the stock.  This is according to brokerage analysts polled by Thomson Reuters First Call.

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Sell-side analysts are projecting earnings per share of $0.00 for the next fiscal quarter.  For the current year, analysts are predicting earnings of $0.35 per share according to First Call.

In looking at where the stock is trading on a technical level, the stock is trading -2.02% away from its 50-day moving average of $1.35.  Based on the most recent available data, the equity is -52.86% off of its 52-week high of $2.80 and +15.79% away from its 52-week low which is $1.14.

Today, the stock opened at $1.58 and the last bid at the time of writing stood at $1.32.  During the session thus far, the equity dipped down to $1.32 and touched $1.77 as the high point.  Micronet Enertec Technologies, Inc. (NASDAQ:MICT) has a market cap of $8.14M and has seen an average daily volume of 15,644 over the past three months.

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Disclaimer: Nothing contained in this publication is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. The general information contained in this publication should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional.

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