NEW YORK (TheStreet) -- Revolution Lighting Technologies (RVLT) stock is gaining Wednesday after announcing it has been awarded a contract to expand LED lighting at nine office properties. SL Green Realty (SLG) selected Revolution Lighting to deliver its Seesmart brand LED tube lamps to retrofit the properties.
"Revolution Lighting is excited to continue its relationship with SL Green to deliver significant energy efficiency and cost savings through our advanced LED lighting solutions," said Revolution CFO Charles J. Schafer in a statement. "SL Green's continued use of our LED lighting products reflects market confidence in the LED industry, and our capability to deliver leading solutions through our strong distribution network."
By early afternoon, shares had spiked 5.1% to $2.25.
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Separately, TheStreet Ratings team rates REVOLUTION LIGHTING TECHNLGS as a Sell with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:
"We rate REVOLUTION LIGHTING TECHNLGS (RVLT) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its poor profit margins and generally disappointing historical performance in the stock itself."