SenesTech (NASDAQ:SNES) stock is flying high on Friday after announcing two successful trials of its new pest control products at poultry facilities.
The trials were for ContraPest, a pest control option that works by reducing the fertility rates of rats. The product works by first placing bait traps, and then replacing the bait with ContraPest. This reduces the rat population and also limits the chance of a resurgence from survivors.
Both of the tests of ContraPest took place over the course of several months. Cameras were used to monitor rat activity and track population to determine the effectiveness of the pest control product.
The first test took place at a west coast egg farm. The trial showed a 90% decline in rat activity after a 12-month period. Next up is an east coast pullet farm. It reported an 88% higher pullet survival rate after testing ContraPest.
That second case is especially worth noting as the customer estimated it would save them $400,000 via higher revenue and reduced production costs. This shows that there’s a good reason for farmers to consider the SenesTech product.
Ken Siegel, the CEO of SenesTech, said this about the positive news for SNES stock today.
“While these results were from deployments at poultry facilities, the results are immediately applicable to many other agricultural situations. Anywhere there is grain, there is the potential for rat infestations, and ContraPest is now proven in the field to reduce those infestations, reduce the negative economic impact, and improve overall food security.”
Interest in SNES stock was up following the news today. As a result, more than 54 million shares of the stock had traded as of this writing. That’s a massive increase over its daily average trading volume of roughly 990,000 shares.
SNES stock was up 38.7% as of Friday afternoon.
SenesTech is only one of many hot stocks seeing major movement of late.
Friday trading has been strong for quite a few companies with many of them seeing plenty of growth. Among those names are SuperCom (NASDAQ:SPCB), Clovis Oncology (NASDAQ:CLVS), Atlantic American (NASDAQ:AAME), ZK International (NASDAQ:ZKIN), and Express (NYSE:EXPR). Investors can catch up on all that news below.
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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.