SunHydrogen Inc (OTCMKTS:HYSR) Stock Moves Up 53% In a Week: But Why?

SunHydrogen Inc (OTCMKTS:HYSR) is currently one of the more innovative companies considering the fact that it manage to develop its own technology which can help in the production of renewable hydrogen from water and sunlight.

Market Stats

On Friday, HYSR stock fell 6.24% at $0.0665 with more than 16.92 million shares, compared to its average volume of 15.75 million shares. The stock has moved within a range of $0.0635 – 0.0750 after opening the trade at $0.0730.

Key Development

Last week the Sunhydrogen stock has managed to emerge as one of the major movers and clocked gains of as much as 53%. In such a situation, it could be the right time for investors to take a closer look into it. However, there has been no news about the company in recent day and the last time any news emerged about SunHydrogen was back on October 18 this year.

At the time the company’s Chief Executive Officer Tim Young provided a key update to the shareholders. He stated that, as had been announced previously, he went to the headquarters and the development labs of the company Schmid Group.

Schmid Group is a development partner of SunHydrogen and hence the visit by Young was an important event. In the update, Young stated that the main purpose of the partnership was to expand the scope of the company’s nanoparticle hydrogen generation technology to commercial scale from lab scale. It could be a good move to add the stock to your watch lists at this point.

Traders Corner

HYSR stock is trading above the 20-Day and 50-Day Moving averages of $0.0519 and $0.0507 respectively. However, the stock is trading below the 200-Day moving average of $0.0910. The stock is up 33% in the past month.