Stock Alert: Vapotherm Spikes 13%

(RTTNews) - Shares of medical devices company Vapotherm, Inc. (VAPO) are climbing more than 13% Thursday morning. There are no company-specific news to drive the stock up.

The company's Precision Flow system that uses its proprietary Hi-VNI technology is a mask-free noninvasive ventilatory support for relieving respiratory distress. Vapotherm is seeing a surge in demand for its Precision Flow system during the Covid-19 outbreak.

On April 13, the company had reported preliminary first quarter revenue of approximately $18.9 million, 54% increase from last year, driven by increased demand for Precision Flow systems and single use disposables in Europe and the U.S. On average 4 analysts polled by Thomson Reuters have a consensus revenue estimate of $18.9 million.

Vapotherm is scheduled to report first quarter results on May 5.

VAPO is currently trading at $20.38. It has traded in the range of $6.86- $24.63 in the past 52-weeks.