The water projects industry has grown at a fairly decent clip over the course of the past years and it is perhaps only natural for investors to look into stocks in that sector at this point. There are many companies that are now involved in the sector and one of the companies which may be worth looking into at this point is OriginClear (OTCMKTS:OCLN).
Trading Data
On Friday, OCLN stock moved up 29% to $0.0180 with more than 1.42 million shares, compared to its average volume of 456K shares. The stock moved within a range of $0.0140 – 0.0200 after opening trade at $0.0140.
About OriginClear
The company is regarded as an entity that is one of the major players in the self-reliant water revolution and is involved in making the world of water investment far more democratic. Essentially OriginClear is involved in connecting investors to water projects that they might be interested in. This past Friday the stock was in considerable focus among investors and ended up with gains of as much as 29% amidst heavy interest.
In light of such enormous gains, it may be a good time for investors to take a look at the stock a bit more closely and look into the specific trigger that led to the gains.
OriginClear Doubles Purchase Orders In First Half 2022
On Friday, OriginClear announced that in the first six months of 2022 it had managed to bring in combined booking orders to the tune of as much as $5 million. That was a significant announcement considering the fact that it reflected a year-on-year rise of more than 100% from the corresponding period in 2021. While the announcement was a significant one, it is necessary for investors to keep in mind that the booking numbers only provide an indication of future potential revenues.
That being said, a rise in purchase orders usually leads to a rise in revenues. For instance, a rise in purchase orders in the second half of 2021 had led to a year-on-year boost in revenues to the tune of as much as 55% in the first quarter of this year.
Riggs Eckelberry, who is the Chief Executive Officer of the company, noted that both the divisions in the company have been working ‘flat out and the booking numbers and potential growth are functions of that hard work. It is going to be interesting to see how the company’s revenues shape up in the coming quarters, however, it is clear to see that investors are quite excited at the massive jump in booking numbers.
While this was a major milestone in its own right for the company, OriginClear was in the news back on June 29 as well when it announced that it launched an offering worth as much as $300 million for Water on Demand Inc, a fully owned subsidiary unit.
The offering had also been given the exemption from registration and is going to be made available to accredited investors only who are going to participate in the offering on the website operated by Manhattan Street Capital. That was another major announcement and something that many analysts, as well as investors, are expected to watch fairly closely in the near future.
Key Quote
“We’re proud of both our operating divisions, which both turned in large increases in purchase orders,” said Riggs Eckelberry, OriginClear CEO. “Both teams are working flat-out, and we are beefing up our staff to ensure continued excellent service.”
Technical Data
OCLN stock is trading above the 20-Day and 50-Day Moving averages of $0.0147 and $0.0163 respectively. However, the stock is trading below the 200-Day moving average of $0.0304.
