Stock Alert: Alta Equipment Stock Jumps 20%

(RTTNews) - Shares of Alta Equipment Group Inc. (ALTG) are currently up over 20% on Friday morning, driven largely by higher first-quarter revenues.

ALTG is currently trading at $5.01, up $0.87 or 21.01%, on the Nasdaq.

First-quarter revenues increased 76% year-over-year to $180.5 million from $102.3 million last year. Industrial and Construction revenues reach $94.6 million and $85.9 million, respectively.

Net loss for the quarter widened to $17.0 million from $2.6 million last year.

"Our strategy to expand into new geographic markets and diversify our customer base has served us well during the current economic slowdown," CEO Ryan Greenawalt said.