ESG focused company Cavitation Technologies Inc (OTCMKTS:CVAT) is involved in the manufacturing and designing of nanotechnology systems which are meant for fluid processing applications globally. Yesterday, the company came into focus after it announced that it had been successful in selling a pair of LPN NanoReactor systems.
On Thursday, CVAT stock gained 11.76% to $0.0285 with more than 170.80K shares, compared to its average volume of 105.71K shares. The stock moved within a range of $0.0280 – 0.0303 after opening trade at $0.0303.
Cavitation Technologies, Inc. Receives a New Purchase Order for Low Pressure Nano Reactor Systems (LPN)
The company further noted that the systems were going to be installed in a soya bean oil refinery located in India. It is going to happen in partnership with DesmetBallestra Group, its strategic partner. The development came as a source of considerable optimism among investors and the stock ended up with gains of as much as 13% for the day.
There is another reason why it was a significant development for Cavitation Technologies. Investors need to note that at this point in time, soy oil remains the most consumed oil in the world in the vegetable oil category. At a global level, it enjoyed a market share of as much as 29.6%. Hence, such a deal could lead to more such orders from other soya bean oil companies in other parts of the world if everything goes well. It may be a good time to add the stock to your watch lists.
Neil Voloshin, CEO of Cavitation Technologies, Inc., commented: “We are excited to reach a milestone of our 11th Nano-Reactor system deployed in India, 17th in Southeast Asia, and seek to continue our positive environmental impact in the region.”
CVAT stock is trading below the 20-Day and 50-Day Moving averages of $0.0346 and $0.0414 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0555.