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      What Took Duos Technologies (DUOT) Stock Higher?

      By Fahim Awan

      Published on

      July 26, 2023

      11:03 AM UTC

      What Took Duos Technologies (DUOT) Stock Higher?

      Duos Technologies Group Inc. (NASDAQ: DUOT) witnessed a positive surge in its premarket trading, with shares up by 3.53% at $6.16.

      This gain came after DUOT stock experienced a decline of 9.02% during the regular session, closing at $5.95.

      However, recent developments have enabled the stock to recover partially from the losses incurred during regular trading.

      A significant step for Duos Technologies (DUOT) was the implementation of its first subscription services agreement with a passenger transit operator.

      This agreement allows Duos to provide access to its Railcar Inspection Portal (RIP) along with optional artificial intelligence (AI) detection models for essential inspection points.

      The initial agreement, valued at $300,000 and renewable annually, covers customer training, installation, and railcar data services for up to three existing Class 1 portals.

      Duos aims to offer the same near real-time inspection data and AI-based alerts that have been successfully developed and tested with its Class 1 railroad customers.

      DUOT is actively expanding its market presence in both transit and railcar ownership and leasing domains.

      The company’s focus on delivering automated near real-time inspection platforms at lower costs, yet with higher value, addresses the market need for efficient safety inspections.

      As more subscription customers come on board, Duos remains committed to providing updates on its progress.

      Additionally, Duos unveiled a new subscription service catering to the rail industry, targeting Class 1 Railroads, railcar owners/lessors, and other potential users.

      This move is accompanied by ongoing discussions with multiple railroads and stakeholders to expand its service offering.

      To further enhance rail safety, DUOT’s operating subsidiary, Duos Technologies, Inc., released a cutting-edge AI detection model for use with the Railcar Inspection Portal.

      This new algorithm focuses on end-of-car cushion inspection, a critical aspect that can influence derailments.

      The “Head of Cushioning Unit Condition” detection model identifies potential damages or missing cushion unit heads, which play a vital role between railcars, similar to shock absorbers.

      Detecting such issues early helps prevent derailments and associated line-of-road delays, as a damaged or missing cushion unit head can affect proper coupler travel.

      Duos Technologies (DUOT) continues to demonstrate its commitment to innovation and safety in the rail industry, providing valuable solutions through its subscription services and advanced AI detection models for crucial inspection points.

      As the company expands its customer base and offerings, it anticipates continued growth and success.

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