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Crown Electrokinetics Trades up on Hudson Pacific Supply Deal, Analyst Bullishness -Breaking

by Mike Robinson

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© Reuters

Sam Boughedda

Investing.com — Crown Electrokinetics Corp. (NASDAQ:) shares are up 3.7% Monday after a regulatory filing by the company on December 23, disclosed it has entered into a master supply agreement with Hudson Pacific Properties (NYSE:).

Crown Electrokinetics announced that its Smart Windows Inserts powered By DynamicTint will be installed in Hudson Pacific office buildings by filing after the closing Thursday. 

James Mcllree from Dawson James, an analyst at Dawson James, stated that he believed this agreement could bring in $100 million for CRKN. 

The analyst —who reiterated a Buy rating and $8.50 price target on the shares — explained that the agreement is a precursor to purchase orders in 2022 and pointed to the fact that Hudson (NYSE:), with the full conversion of its warrants, owns 8% of CRKN.

CRKN shares opened the session at $3.48 and are now around the $3.34 mark. Hudson Pacific shares are at $24.58 and down by 0.28%.

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