Investors have been focussed on the growth focussed energy company Viking Energy Group Inc (OTCMKTS:VKIN) for many months now and hence, the stock has performed strongly as well. In the past week, the stock has generated gains of 10% and in the past six months, the gains have come in at 45%.
Trading Data
On Thursday, VKIN stock jumped 2% to close at $0.8350 with more than 154K shares, compared to its average volume of 298K shares. The stock moved within a range of $0.8050 – 0.8600 after opening the trade at $0.825.
Major Developments
The Houston, Texas based company owns oil and natural gas interests in different parts of the United States. In addition to that, Viking Energy offers its custom energy solutions to its clients through a subsidiary company in which it holds a majority stake.
Earlier on in the year in August, the company had executed a key Exclusive Intellectual Property License Agreement with the energy company ESG Clean Energy LLC. The agreement is related to the patent rights and knowledge in relation to stationary electric power generation of ESG Clean Energy.
The agreement also includes ESG Energy’s know how with regards to processes that help generate power through capture of carbon dioxide and heat. The license is of an exclusive nature for the Canadian market but for a maximum of 25 states in the United States it is non-exclusive. Investors could do well to keep the Viking Energy stock on their radars.
Key Quote
James Doris, President and Chief Executive Officer of Viking, commented, “In my view this transaction positions us as an industry leader in terms of being able to assist with the power generation needs of commercial and industrial organizations while at the same time helping them reduce their carbon footprint to satisfy regulatory requirements or to simply follow best ESG-practices. We are excited to be able to use the platform of Simson-Maxwell Ltd., our recently acquired majority-owned subsidiary, to promote the ESG Clean Energy System.”
Technical Data
VKIN stock is trading above the 200-Day moving average of $0.80 – signalling a long term uptrend. The stock has gained 90% in the past 3-month.
