Sustainable clean tech technology and environmental engineers firm BioLargo Inc (OTCMKTS:BLGO) has been in significant focus among investors in recent days and the company’s stock has managed to clock gains of as much as 7% in the past week.
Trading Data
On Thursday, BLGO stock fell 1.60% to $0.2650 with more than 170k shares, compared to its average volume of 442K shares. The stock moved within a range of $0.2605 – 0.2723 after opening trade at $0.27.
BioLargo Provides Progress Report on Major Growth Catalysts
In this situation, it may be a good time for investors to consider taking a look at the update provided by the company yesterday. In its update on Thursday, BioLargo detailed the sort of progress that it had managed to make in the three key catalysts that are going to help in its growth.
The President and Chief Executive Officer of the company Dennis P Calvert spoke about the matter at hand yesterday. He stated that the three initiatives that the company was working on were still ‘unfolding’. In this regard, he specifically spoke about the PFAS testing initiative.
Calvert noted that the PFAS testing initiative that was meant to be done on behalf of BioLargo clients was something about which it had to be highly cautious. The company would be handling large amounts of personal information and hence, there needed to be a high degree of caution with regards to the initiative.
Key Quote
“These initiatives are still unfolding, and in some cases, such as with PFAS testing on behalf of clients, we have to handle confidential information carefully,” said Dennis P. Calvert, President and CEO of BioLargo. “Still, we believe it’s important for our investors and followers to stay abreast of the progress of these projects that represent the key growth catalysts for our company.”
Technical Data
BLGO stock is trading above the 20-Day and 50-Day Moving averages of $0.26 and $0.23 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.20.
