Shares of Silex Systems (ASX:SLX) have seen an increase of roughly 3%, prolonging a three-day upward trend.

The Australian firm, widely known for its contributions to laser research and development, reported that its annual revenue from ordinary business operations has more than doubled.

However, the net loss attributable for the financial year has seen a surge.

For the first time since July 31, the company’s stock has hit the 50-day daily moving average (DMA) although it is slightly below at present.

The stock is currently priced at A$3.60, being less than 2% short from its 100- and 200-day DMAs.

Over a 4-day rally, SLX saw an increase of over 19%, thereby flipping it back into gains, currently at 12.5% for this year.

Silex Systems is a company specializing in laser research and development based in Australia.