The Digital Utilities Ventures Inc (OTCMKTS:DUTV) stock was one of the notable movers on Wednesday as it ended the day with gains of 3% following a significant announcement. The company came into focus yesterday after it announced that it had signed a non-binding letter of intent with Unaka Forest Products Inc.
On Wednesday, DUTV stock increased 3.25% to $0.0127 with more than 5.44 million shares, compared to its average volume of 3.92 million shares. The stock moved within a range of $0.0124 – 0.0140 after opening trade at $0.0135.
Digital Utilities Ventures And Easy Energy Systems, Inc Sign Non-Binding Letter Of Intent With Unaka Forest Products, Inc.
Another letter of intent was signed by Unaka Forest Products company in collaboration with Easy Energy Systems Inc. In this regard, it should be noted that Easy Energy Systems is going to be the supplier of equipment to Unaka Forest Products.
The equipment that is going to be supplied by East Energy Systems is worth as much as $82 million and that is going to be manufactured by Digital Utilities Ventures’ unit named Easy Modular Manufacturing. It was noted that the equipment in question is going to have the capacity to process as much as 250 dry tons of wood residues into a range of byproducts.
Hence, the entire agreement could well prove to be a significant deal for Digital Utilities Ventures and that was possibly the reason behind the rally in its stock. It now remains to be seen if the stock can add to its gains today.
DUTV stock is trading above the 20-Day and 200-Day Moving averages of $0.0117 and $0.0083 respectively. However, the stock is trading below the 50-Day moving average of $0.0128.