BioLargo Inc. (OTCMKTS:BLGO) Stock Gains Momentum: Here is Why
BioLargo Inc. (OTCMKTS:BLGO) shares popped by about 5% last week. While the stock is up by about 25% year to date, it has come under pressure in recent weeks. The stock is down by about 17% over the past month, heading into year-end.
Market Stats
On Thursday, BLGO stock jumped 4.60% to $0.1945 with more than 504k shares, compared to its average volume of 336k shares. The stock has moved within a range of $0.1860 – 0.1999 after opening trading at $0.0.1860.
BioLargo says its Aqueous Electrostatic Concentrator eliminates multiple PFAS compounds in testing with client water
The bounce-back last week that helped avert a further sell-off came on the confirmation that BioLargo’s Aqueous Electrostatic Concentrator (AEC) can eliminate hazardous polyfluoroalkyl substance (PFAS) compounds from water. The system can eliminate the hazardous compoundswhile generating much lesswaste products compared tocarbon filtration
In the recent past, the company has confirmed that its AEC can eliminate the harmful compounds present in water to acceptable standards. The confirmation is a major milestone and achievement given that PFAS have been linked to cancer, development delays, and hormonal disorders.
According to BioLargo President Randal Moore the latest result affirm that AEC can be relied upon for the total elimination of PFAS in contaminated drinking water. In addition, it can be fine-tuned toensure clean water levels are at levels preferred by clients and meet regulatory threshold
Key Quote
In a statement, Randall Moore, who is the president of BioLargo Engineering, Science & Technologies (BLEST), said: “These results confirm not only that the AEC can deliver virtually total elimination of PFAS from contaminated drinking water, but that the technology can, with relative ease, be fine-tuned to achieve varying levels of treatment performance as prescribed by a client’s own treatment goals and regulatory needs.”
Traders Corner
BLGO stock is trading below the 20-Day and 50-Day Moving averages of $0.20 and $0.19 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.19.
