The Pointerra Ltd (ASX: 3DP) share price has continued its positive run on Monday.
In morning trade, the geospatial data technology company's shares are up over 9% to 29 cents.
This means that the Pointerra share price is now up over 50% since last Tuesday.
Why is the Pointerra share price rocketing higher?
The recent gain by the Pointerra share price is a bit of a mystery as there has been no news out of the company since the end of April.
That last piece of news saw the company report a 13% or US$1.9 million increase in quarterly annual contract value (ACV). This brought its total ACV to US$16.28 million as of 29 April 2022.
Management highlighted that its Pointerra3D service is rapidly becoming a "must-have" platform for the US energy utility sector with existing customers advocating adoption of the company's digital twin solution amongst peer utilities.
This is expected to drive further growth in platform deployment and ACV across Pointerra's largest sector.
In light of this positive outlook and the Pointerra share price down by over 50% since this time last year, it appears that some investors believe a buying opportunity has been created.