Why Crown Electrokinetics (CRKN) Shares Are Rising

Crown Electrokinetics Corp. CRKN shares are trading higher after the company announced its optics division added a third customer, expanding its U.S. presence.

What Else?

The company says Crown Fiber Optics new customer is a leading provider of engineering, construction, program and project management to the telecommunications and utility industries.

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Doug Croxall, Crown Electrokinetics CEO and Chairman stated, "We are excited to announce the acquisition of our third customer, the second in as many months. We estimate that this multi-phased project may generate up to $30 million of revenue for Crown. We are continuing to expand not only within our existing customers' footprint, but also by adding more customers in the near future."

According to data from Benzinga Pro, CRKN has a 52-week high of $2.12 and a 52-week low of $0.05.