Midwest Energy Emissions Corp (OTCMKTS:MEEC) Climbing Even Higher
tags: MEEC
Midwest Energy Emissions Corp (OTCMKTS:MEEC) didn’t start the year on a good foot and was moving between 40 and 50 cents per share until the beginning of last month, when it began to climb the charts, showing little hesitation.
By now, its market cap has surpassed $65 million and there is good reason for investor excitement. MEEC is in a rather decent financial state when you compare it to other OTC marketplace entities and the results from the first quarter of this year are a testament to that.
- cash: $478 thousand
- current assets: $4.6 million
- current liabilities: $8.3 million
- revenues: $3.3 million
- net income: $908 thousand
The cash reserves could be better, but MEEC is generating quite significant revenues and, unlike many other stocks traded on the OTC marketplace, it has managed to have a positive bottom line of nearly $1 million, which is quite impressive.
The company announced that they will inform shareholders on Q2 earnings today and they have done so. The numbers are pretty good as we see a massive 241% increase in revenues compared to the same period in 2015.
The news come after MEEC closed yesterday’s session with a 9.78%, at $1.07. A total of 91 thousand shares generated $97 thousand in daily dollar volume, which shows that the ticker isn’t traded so heavily.
After the morning announcements we see that MEEC’s upward momentum has strengthened and the ticker is already 12.73% up in today’s trading, with a dollar volume close to yesterday’s. Still, as we mentioned in our previous article, there are some red flags that you should keep in mind before making any trading or investment decisions.
