In the past week, Midwest Energy Emissions (OTCMKTS:MEEC) has come into significant focus among investors and that has been apparent from the price action in its stock as well. During the period, the stock has managed to clock gains of as much as 8% and it may be the right time for investors to take a closer look at it.
Trading Data
On Tuesday, MEEC stock ended flat at $0.44 with 17K shares, compared to its average volume of 105K shares. The stock moved within a range of 0.4240 – 0.4400 after opening trade at $0.4303.
ME2C® Environmental Reports Fourth Quarter and Full Year 2021 Results; Reiterates 2022 Guidance of 60% Year-over-Year Revenue Growth
Yesterday, the environmental technologies firm was in the news after it announced its financial results for the fourth fiscal quarter as well as the full fiscal year. In the fourth quarter, the revenues came in at $2.7 million, which worked out to a year on year rise of 17.4%.
On the other hand, the adjusted EBITDA for the quarter improved considerably and came in at a loss of $21,000. In the prior year quarter, the EBITDA loss had been $73,000. For the full fiscal year 2021, Midwest Energy Emissions managed to generate revenues of $13 million and that worked out to a year on year rise of as much as 59.5%. The adjusted EBITDA gains from the year came in at $297,000 and that was a major turnaround from the loss of $735,000 in the previous fiscal year.
Key Quote
“The fourth quarter marked a strong close to the year for ME2C and demonstrated the ongoing success of our comprehensive growth strategy,” said Richard MacPherson, CEO of ME2C Environmental.
Technical Data
MEEC stock is below the 20-Day and 50-Day Moving averages of $0.44 and $0.47 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.71.
