Hydro Power Technologies Inc (OTCMKTS:PYBX) was in the news around a year ago when it made a major new announcement with regards to a new partnership. The partnership is with regards to a new solar energy project in Lebanon and it could be a good idea for investors to consider taking a closer look into it.
PYBX closed up 12.97% on Friday, September 2, 2022. This morning, PYBX stock is down marginally at $0.0200 with more than 183K shares traded, compared to a volume of 153K shares. The stock has moved within a range of $0.0205 – 0.0209 after opening trading at $0.0205.
The company announced that on 8 September last year, it had inked a joint venture agreement for the project with the Lebanese conglomerate Middle East Solutions and Technologies for Energy and Environment (MESTEE). It goes without saying that the development was a significant one for the company and one that may prove to be a long-term boost for Hydro Power.
In this context, it could also be a good move for investors to perhaps take a closer look at the nature of the company’s business. The company’s target is to work on the development of unique and innovative hydropower technology products. It seeks to create solutions that are not only ready for the grids but are safe, cost-effective and reliable.
Such products can then be deployed by utilities provider all over the world. As it happens, the company has also been successful in creating a system by way of which the output of power from an impact turbine hydro generation system could be boosted. It is known as the HPT system and is known as ‘Hammer1’. It could be a good move for investors to consider keeping an eye on further developments on this front.
PYBX stock is trading below the 20-Day and 50-Day Moving averages of $0.0238 and $0.0245 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0248. The company has a total market capitalization of $1.16 million.