Innovative companies, irrespective of sectors, may often attract the attention of a number of investors and as such, it may be a good idea for investors to take an interest in the stocks of those companies. One such company which may be a point of focus among investors at this point in time is H2O Innovation Inc (OTCMKTS:HEOFF).
Trading Data
On Friday, HEOFF stock fell 2.75% to $1.34 with more than 3k shares, compared to its average volume of 8K shares. The stock moved within a range of $1.2301 – 1.3800 after opening trading at $1.23.
About The Company
As the name suggests, it is an innovative company that is involved in the water solutions space. It is focused on providing the best possible services and technologies in the water solutions industry to its customers. The products and services provided by the company can be divided broadly into three categories. One of those is in water technologies and services, the second one is in specialty products and the last one is related to the operations and maintenance segment. The company claims that through its wide range of innovative solutions, it seeks to ‘simplify water’.
Considering the sheer value of water as a resource, it can be said that H2O Innovation is involved in a space that may prove to be a company to watch out for quite closely. However, at the same time, it ought to be noted that yesterday the H2O Innovation stock suffered from a selloff and went down by as much as 3% amidst a selloff. In light of the selloff in the stock, it may be a good time for investors to consider taking a look at the development that actually led to that selloff.
H2O Innovation Announces a Change on its Board of Directors
The company announced yesterday that one of the directors on its board of directors, Rene Vachon, had decided to resign from his position. Upon the development, H2O Innovation appointed Bertrand Lauzon as the latest director to join its board of directors. Vachon had been a director at H2O Innovation for the last three years and had also been a member of a number of key committees that had been presided over by the Board of Directors. Vachon was named as a director back on July 1, 2022. In addition to that, he had also been made a member of the important audit committee.
Technical Data
HEOFF stock is trading below the 20-Day and 50-Day Moving averages of $1.44 and $1.57 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.83.
