New Energy Technologies, Inc. (OTCMKTS:NENE) Drops Back Down to $2

After breaking through the $2 mark on Monday the stock of New Energy technologies, Inc. (OTCMKTS:NENE) continued to climb reaching as high as $2.44. But such price levels proved to be too much to sustain and yesterday the ticker slid back down by 15% to arrive at $2.01. Traded volume more than tripled the average amount and reached 316 thousand shares.

The company is trying to make it big through two next-generation alternative and renewable energy technologies – MotionPower that generates electricity from the motion of vehicles and SolarWindow that produces electricity on see-through surfaces. In their latest announcements NENE have been focusing on the latter product by successfully applying for 21 new patent filings.

This Monday they revealed two new uses for it, backed by another 7 patent filings, one for commercial and military aircraft and the other for the safety of military pilots. The technology undoubtedly has potential and can be applied to numerous industries but for now it remains in development and the company plans to stay there until 2015.

With no ready product and no way to generate revenues NENE‘s fundamentals still put them ahead of most pennystocks. For the period ending May 31 they disclosed the following financial results:

• $715 thousand cash
• $888 thousand total current assets
• $35 thousand total current liabilities
• Zero revenues
• $583 thousand net loss

For now they have managed to keep their debt levels extremely low and have positive working capital. Investors should expect some dilution because NENE is mainly relying on its equities in order to generate funds.

They have also never taken part in a paid pump and are not using artificial hype to boost the price per share. Still doing your due diligence shouldn’t be neglected due to the high volatility of the ticker.

Yesterday Awesome Penny Stocks returned in full force and announced that their new pick is going to be PacWest Equities, Inc. (OTCMKTS:PWEI). In early trading today the stock is fluctuating around $0.085. Another pumped company – Alkaline Water Co., Inc. (OTCBB:WTER), is still steadily climbing upwards currently being traded for $1.2.