There were a number of stocks which made strong upward moves on Tuesday and one of the notable movers was the NG Energy International Corp (OTCMKTS:GASXF) (CVE:GASX). The stock came into focus after the company made an announcement and ended the day with gains of as much as 5%.
Trading Data
On Monday, GASXF stock moved up 5% to $1.49 with more than 97K shares, compared to its average volume of 58k shares. The stock has moved within a range of $1.4700 – 1.5500 after opening trade at $1.47.
Announces Completion Of The Gas Plant Facilities At Maria Conchita
The company announced yesterday that the Dehydration and Glycol units had arrived at the designated site. More importantly, NG Energy International Corp noted that assembly work with regards to the gas plant had been completed. It should be noted that the news with regards to these deliveries had actually been released by the company earlier on this year on January 4.
The reason behind the optimism among investors is easy to figure out. NG Energy International Corp announced that the gas plant in question was now ready and could be deployed for commission as well as pre-commissioning. At this point in time, the plant is going to be deployed for nitrogen testing over the course of the coming days. It may now be a good move from investors consider adding the stock to their watch lists and watch out for further moves over the course of the coming days.
Key Quote
Ronald Pantin, Executive Chairman of NGE commented, “we look forward to keeping our shareholders apprised as we transition from a developer to a producer and begin selling natural gas into the premium priced Colombian marketplace.”
Technical Data
GASXF stock is trading above the 50-Day and 500-Day Moving averages of $1.48 and $1.10 respectively. However, the stock is trading below the 20-Day moving average of $1.52. The stock is down 28% in the past 6-month.
