Duos Tech stock surged in 2025, but most Northeast Florida companies lagged market (Courtesy of the Jacksonville Daily Record) — Stock market investors enjoyed big gains in 2025 – unless they focused on buying stocks of Jacksonville-based companies.
While the major stock indexes reached record highs and produced double-digit percentage gains, 15 of the 19 publicly traded companies headquartered in the Jacksonville area dropped in price last year.
By far the best performance of a Jacksonville-based company came from Duos Technologies Group Inc., which jumped 88% to $11.25 by the end of 2025 after doubling in price in 2024.
Duos was focused on providing railroad safety technology and was hoping a bigger emphasis on railroad safety would spark revenue gains.
Instead, the company’s stock dropped in 2023 as revenue fell far short of its projections, which Duos attributed to project delays from clients.
Duos turned around in 2024 by expanding with two new business lines, one that provides artificial intelligence data centers in rural markets and a second to provide energy services.
The company reported revenue of $7.3 million in 2024, about equal to 2023. But in late 2024, it announced a two-year agreement with Jacksonville-based APR Energy to deploy energy assets that it said would produce an estimated $42 million in revenue.
Duos’ revenue tripled to $17.6 million in the first nine months of 2025.
Ascendiant Capital Markets analyst Edward Woo expects more gains in the stock this year, raising his price target for Duos from $11.50 to $14 Dec. 29 with a “buy” rating on the stock.
“Huge growth for its data center business over the next year should drive stock much higher,” Woo said in his research note.
He expects revenue to reach $40 million in 2026 after finishing 2025 with an estimated $28 million.