American DG Energy, Inc. (NYSE:ADGE) Tries to Rebound This Week

[[tagnumber 0]] [[tagnumber 1]] [[tagnumber 2]]American DG Energy, Inc. (NYSE:ADGE) stock price jumped nearly 10% towards the center of the trading range yesterday, though the gains could be only short–term. The company recently issued new restricted shares while it keeps making only losses and the running share repurchase program has not managed to support the stock in last few months.[[tagnumber 1]] [[tagnumber 2]][[tagnumber 5]][[tagnumber 1]] [[tagnumber 2]]ADGE closed the last trading session with a 9.60% jump at $0.42 for a share. The trading volume yesterday was much lower than usual for the past weeks, yet technical indicators turned bullish and it looks like ADGE could gain more and possibly break above the 20–day moving average.[[tagnumber 1]] [[tagnumber 2]]Longer–term, ADGE does not looks like an attractive investment opportunity though. The company‘s business is to own and operate on–site energy systems that produce electricity, hot water and cooling air. Since the start of the business, it has accumulated a loss of $36 million, moreover, the losses are expected to continue as ADGE sales show no signs of growth whatsoever.[[tagnumber 1]] [[tagnumber 2]] [[tagnumber 1]] [[tagnumber 0]][[tagnumber 14]][[tagnumber 1]] [[tagnumber 2]]At the end of June, ADGE filed an 8–K in which it declares the issuance of 100,000 restricted shares to a person named Peter Westerhoff. In exchange for the shares, ADGE received “certain assets and responsibilities of a joint venture” between that person and the company. No further details are known, however, following that filing ADGE share price plunged to a 5–year low at $0.28.[[tagnumber 17]] [[tagnumber 18]][[tagnumber 1]] [[tagnumber 0]]What is also interesting is that since last September ADGE has a share repurchase program for up to 1,000,000 shares of its common stock at costs not exceeding $1,100,000. By the end of March, around 740,000 shares were repurchased at an average price of $0.47, however, instead of improving the stock value keeps going down.[[tagnumber 1]] [[tagnumber 0]] [[tagnumber 1]]