A very interesting penny stock which set a new 52 week high on Wednesday and is in an expanding, multi billion dollar industry, the health and well-being market, belongs to ForeverGreen Worldwide Corporation (FVRG). The provider of nutritional foods and other healthy products restated their 2012 year end results on July 2 and reported yesterday that their FG Xpress product, PowerStrips, grew 204% during Q2 2013 to approximately $2.4 million for the first half of 2013. Setting a new high at 0.60 and “real” gains for the day of nearly 100%, FVRG stock is officially being watched by the savvy, long OTC traders.
Our Next Pick Is Coming Soon! Click HERE To Make Sure You Don’t Miss Any Of Our Breaking Alerts!
FVRG Stock Quote
Market Cap: 8.21M
Wednesday Close: 0.54 ▲ +0.255 (+89.47%)
Dollar Volume: $35,094
Issued and Outstanding: 15,212,141
14-Day Rel Strength: 74.83%
14-Day Stochastic: 84.92%
Looking for Hot Penny Stocks?
Click here To Receive FREE Penny Stock Alerts
The news Wednesday and comments from Ron Williams, CEO of ForeverGreen Worldwide, were more than sufficient to trigger a significant uptick on FVRG stock. Williams stated that “higher margin products now account for about half of our overall sales which were forecasted originally to be $6 million from FG Xpress for 2013″ It took more than 10 years for the Company to reach $250 million in sales and they now expect to match that amount within the next 3-4 years, but with a higher level of profitability.
ForeverGreen Worldwide, last week, restated their 2012 year end results. Net Revenues came in at $12,575,375 with Net Cost of Sales reported to be $8,637,659, thus producing gross profit for the 12 months ended of $3,937,716. Net loss for the year was -$790,199, nearly half the amount in losses the Company reported for the year ended December 31, 2011: -$1,459,268.
Using those year end numbers for comparison, anticipation of the Company’s Q2 results is likely to match the half way mark reported in 2012 since, for the 3 months ended March 31, 2013, revenues were already $2,694,478 with gross profit of $777,495 with net loss reported at -$211,455.
As for FVRG, the new 52 week high of 0.60 set Wednesday was achieved on better than average volume, but no where close to the higher volume trading session recorded earlier this year. Although FVRG stock has only surpassed 200,000 shares traded once this year, twice in the past 3 years, the improving financial results will undoubtedly help to combat the $6.3 million in current liabilities the Company had on their books as of March 31, 2013 making the Provo, Utah based Company a force to reckon with as their global sales continue to grow.
About FVRG Stock
ForeverGreen Worldwide, through its wholly-owned subsidiary, ForeverGreen International, LLC, is a holding company which operates a total lifestyle company focused on bringing their domestic and international Members and customers the exclusive FrequenSea™ product as well as other health related products.
Click here to view the SEC filings for FVRG.
Click here to view the website for ForeverGreen.
Last 5 Trading Sessions:
Stay Connected With Us:
Barchart.com has FVRG listed as a “Strong Buy“ with an overall average of 96% from the result of 13 popular analytics. FVRG stock has been added to our list of penny stocks long traders should have a closer look at, especially since insiders owned 70.8% of the issued and outstanding shares as of the time of the 10-K filing.
Here is your opportunity to subscribe to the Most Read Penny Stock Newsletter
If You Can’t Make Money With Us, You Shouldn’t Be Trading Penny Stocks
(We are 100% Anti-Spam and will never rent or sell your information)Share