eCare Solutions, Inc. (OTCMKTS:ECSL) Smashes Through Yet Another 52-Week High
Out of the last sixteen sessions the stock of eCare Solutions, Inc. (OTCMKTS:ECSL) has closed in the red only three times and even then the correction were not that severe. This Monday the stock did show some weakness when it dropped close to 1 percent below its previous close but yesterday it once again soared up the chart.
Investors shifted 213 thousand shares bringing the dollar value for the day to $591 thousand. The ticker surged by 12.5% and closed at $2.89. During the session ECSL actually climbed a bit higher and posted their new 52-week record of $2.90. It is apparent that investors are quite enthusiastic about the future of the company but the ticker is reaching price ranges that may be too disconnected from the underlying fundamentals.
As of yesterday ECSL commands a market cap of over $163 million. At the same time they finished the quarter ending September 30 with:
• $44 thousand cash
• $521 thousand total current assets
• $125 thousand total current liabilities
• $128 thousand sales
• $392 thousand net loss
Judging by the financials investors might be getting a bit too excited. It is true that ECSL’s alternative flex fuel – EcoFlex 96, was approved for sale in Florida and the company will try to also get approved in California. However, so far no distribution deals or orders have been announced.
In the span of a month the stock has nearly tripled its price and without new positive PRs it might start slipping. Not to mention that if you don’t already have a position chasing after it may not be the best decision. Even if you believe in the potential of ECSL’s fuels be sure to do your own due diligence before putting your money on the like.
You might also want to take into consideration the fact that in the past around 7 million shares have been issued at prices ranging from $0.05 to $1. Even the more expensive of these shares can bring some hefty profits to their owners if they decide to sell them at the current market price.
