About The Company
Envirotech Vehicles, Inc. (OTCMKTS:EVTV) manufactures purpose-built zero-emission electric vehicles. The sole objective is to minimize the total cost of vehicle ownership while helping fleet operators reap the benefits of green technology. The company caters to commercial and last-mile fleets, school districts, public and private transportation service companies, and colleges and universities to meet the increasing demand for heavy-duty electric vehicles. These vehicles successfully combat the hurdles of traditional fuel price cost instability and local, state, and federal environmental regulatory compliance.
Trading Data
On Wednesday, EVTV stock moved up 2% to $0.3645 with more than 1.79 million shares, compared to its average volume of 329K shares. The stock moved within a range of $0.3181 – 0.3700 after opening trade at $0.3623.
Envirotech Vehicles Delivers Five Vehicles to New Jersey Customers Through New Jersey Zero Emissions Incentive Program
Envirotech Vehicles, Inc. announced on June 22, 2022, about delivering five vehicles to a customer in New Jersey. This consignment is part of a previously announced approval by the New Jersey Zero Emissions Incentive Program (NJ ZIP) for the purchase of these vehicles.
Phillip Oldridge, CEO of Envirotech Vehicles, says that they are highly optimistic thanks to the sustained activity they have witnessed as an approved vendor for NJ ZIP. It is an important time for the company as the vehicles continue to gain traction in New Jersey via NJ ZIP, and throughout the country too. New and existing customers are committing to the transition of their fleets to zero-emissions transportation alternatives.
In other news, the company has also announced the filing of an application to commence its previously announced planned listing of the company’s securities on the NASDAQ Capital Market. Phillip Oldridge is confident that an uplisting to NASDAQ will boost visibility among audiences, incorporate additional flexibility to execute strategic and operational plans, and enhance awareness of the Envirotech Vehicles brand.
NASDAQ is the world’s leading exchange for technology companies, including emerging markets such as the electric vehicles sector. The management of Envirotech Vehicles is certain that an uplisting will work wonders for enhancing company value. It is indeed a thrilling time for this industry as businesses and fleet owners’ transition to greener transportation.
The listing of the company’s common shares on NASDAQ is pending, subject to approval of that exchange and the satisfaction of all applicable listing requirements. In preparation for the uplisting, the company plans to execute a reverse stock split to satisfy the minimum share price requirement.
Key Quote
“We’re encouraged by the sustained activity that we’re seeing as an approved vendor for NJ ZIP,” Phillip Oldridge, CEO of Envirotech Vehicles, commented. “This is an exciting time for our Company as we continue to see our vehicles gain traction both in New Jersey via NJ ZIP and throughout the country as new and existing customers commit to transitioning their fleets to zero emissions transportation alternatives.”
Technical Data
EVTV stock is trading above the 20-Day and 50-Day Moving averages of $0.30 and $0.29 respectively. However, the stock is trading above the 200-Day moving average of $0.27.
