Shares of Pointerra (ASX:3DP) soared by as much as 42.9% to A$0.070, setting the company up for its best day since July 28, 2023 if the gains maintain.

The stock has been on a positive streak, rising for its fifth consecutive session and looking to end its third consecutive week in positive territory.

The surge comes after the 3D tech solutions company announced it had been awarded a $1.9 million contract by US energy utility company Florida Power & Light.

Under the contract, Pointerra will be paid to analyze lidar and imagery to aid Florida Power & Light’s business cases.

This caused the shares to reach their highest value since October 31, 2023.

So far this year, the stock has risen approximately 11.4%.

Pointerra (ASX:3DP) is a company offering innovative 3D tech solutions.