Shares of Alithya (NASDAQ:ALYA) stock soared more than 100% to start the morning Monday despite no company news. Although shares have cooled off, this is still a story worth watching. Not sure what Alithya is or how ALYA stock is performing? Let’s dive in and take a closer look at the company.
At its core, the Canada-based firm focuses on technological and digital strategies. Alithya’s services range from application development and strategic consulting, to enterprise solutions and analytics. And overall, the company employs around 2,000 professionals in Canada, the U.S. and Europe.
With that in mind, here is what you should know about Alithya:
- The company was founded in 1992, when it was know as CIA (Conseillers en informatique d’affaires).
- Between 1998 and 2005, CIA acquired 11 companies.
- After a buyout between 2011 and 2012, the company “execute[d] its daring strategic plan and [began] to overhaul its image” to become Alithya in 2013.
- Over the next few years, the company entered a number of important strategic partnerships and added a few institutional investors.
- Then, in 2018, Alithya acquired Edgewater Technology and began trading on the Nasdaq Exchange under the ALYA ticker.
- Since that point, the company has found new avenues of expansion to build out its offerings and services.
- The firm also boasts a few well-known technological partners, including Microsoft (NASDAQ:MSFT) and Oracle (NYSE:ORCL).
- In early January, Alithya shared two major pieces of news related to the company — including a five-year technology partnership.
- Moreover, during its latest quarter, the company reported that revenues increased 1.5% year-over-year to $68.4 million.
- Alithya also said it had a net loss of $5.5 million, or $0.09 per share, compared to a loss of $2.3 million, or $0.04 per share.
Furthermore, ALYA stock had a great start to 2021. In fact, shares are up nearly 62% to start the year.
Shares of ALYA stock were up 38% as of Monday morning.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick is a web editor at InvestorPlace.
