Why has Advance Nanotek [ASX:ANO] risen over 350% Since 1 January?

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Advance Nanotek Limited [ASX:ANO] manufactures advanced nanomaterial products. The company offers several products to the cosmetic and sun-care industry, including sunscreen containing zinc oxide, and has customers worldwide.

Advance Nanotek listed on the ASX on 24 February 2005, so it’s been around for quite some time.

The stock opened at 93 cents on 3 January. It’s since soared to as high as $4.61. That’s nearly 400% in three months.  

What’s the news behind the latest share price move?

In a recent half-year profit report, Advance Nanotek noted a revenue increase of over 100% year on year. The company also achieved a net profit after tax of $1.25 million.

Advance Nanotek also highlighted an increase in demand for its products, noting that one customer had increased demand by 500%.

The market appears to view the company’s outlook as sustainable and lucrative.

Advance Nanotek’s shareholders have launched a new brand of ‘ethical’ sunscreen. One of the core ingredients is a zinc dispersion product.

What’s next for Advance Nanotek’s share price?

Advance Nanotek continues to impress investors. The price of the share is reflecting this.

If the company can continue to generate profits, obtain further FDA approvals and increase customer demand, then the share price should continue to rise.

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