Environmental technology company Midwest Energy Emissions Corp (OTCMKTS:MEEC) saw its stock trade within a range on Wednesday but at the same time it ought to be noted that the company was in the news as well. It may be the right time for investors to take a closer look into it and figure out if the Midwest Energy stock is going to breakout any time soon or not.
Trading Data
On Wednesday, MEEC stock gained 1.92% to $0.53 with more than 1000K shares, compared to its average volume of 107K shares. The stock moved within a range of $0.4900 – 0.5325 after opening trade at $0.52.
Earnings Recap
Yesterday the company made an announcement with regards to its projections for the year 2022. The projections were actually based on indications of demand from customers, positive business conditions and the start of activity under the terms of the new licensing agreements.
Midwest Energy announced that it expected its revenues for the full year of 2022 to soar by as much as 60% year on year. However, at the same time, the company also pointed out that the lion’s share of those revenues were expected to be generated in the second half of the year.
It goes without saying that the announcement was a positive one but it did not lead to any show of enthusiasm from investors. It is now going to be interesting to see if there is any interest in Midwest Energy this morning.
Key Quote
“2021 was a year of focused execution for ME2C Environmental as we strengthened our foundation to potentially accelerate top-line revenue growth in 2022 and beyond. We continued to see very strong momentum across our end markets in Q4 and pleased to report that we expect full-year 2021 preliminary unaudited revenues of approximately $13.0 million compared to revenues of approximately $8.2 million for 2020. Moving through the next 12 months, 2022 could be our most successful year in more than five years as we see continued strength in our core business in mercury emissions capture. We currently expect at least a 60% year-over-year revenue growth for 2022 which puts our year-end revenue target in the range of approximately $20 to 22 million,” said Richard MacPherson, CEO of ME2C Environmental.
Technical Data
MEEC stock is trading below the 20-Day and 50-Day Moving averages of $0.54 and $0.56 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.82.
