Sandy may have shut down most of the N.E. to start the week off, but in the South, its hard to stop the strength Green Earth Technologies Inc. (GETG) has been building this month. Now fueled with the power of NASCAR, the No. 1 spectator sport, after joining the stable of Official NASCAR Green Partners, the Tuesday announcement should keep the gas on GETG stock. The “totally green” clean tech company has been gaining strength ever since filing their 10-K on September 28, 2012, is looking to expand its authorized shares, and deserves a “long” look.
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GETG Stock Chart
Market Cap: 38.58M
Close: 0.25, no change
Volume: 68,262
Dollar Volume: $16,438
High: 0.26
Low: 0.22
Trades: 17
Average Trade Size: 4,015
Authorized: 300,000,000
Issued and Outstanding: 154,339,218
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With products already available at a number of national retail outlets and chain stores including Walmart, The Home Depot, Menards, ACE Hardware and Canadian Tire Corp., Green Earth Technologies’ net sales for fiscal 2012 were superb considering the state of the economy for specialty items. Net sales came in at $7.386 million for the 12 months ended June 30, 2012 versus $7.503 million for the same period in 2011.
The recent momentum since the filing has been the forecasts and expansion plans. Just one day ago, the Company filed an amendment to their proxy statement for the upcoming annual shareholders meeting. The December 13, 2012 scheduled meeting will include the vote for increasing the authorized shares from 300 million to 500 million as well as the standard BoD appointees and Auditor.
However, Tuesday was more highlighted by GET’s G-CLEAN® pressure washers and environment-safe cleaning products and degreasers for concrete, home siding and outdoor mold and mildew stain removal which, as part of the NASCAR Green Partners, will offer NASCAR fans a green alternative to use on their homes and offer an incredible amount for exposure for the Green Earth Technologies. Earlier this year, NASCAR entered into a broad, voluntary collaboration with the EPA to raise awareness about the benefits of green products and solutions that have earned the “DfE” label, the U.S. Environment Protection Agency’s Design for the Environment program.
About GETG Stock
Green Earth Technologies, Inc. and its wholly-owned subsidiary, GET Well! Inc., markets, sells and distributes bio-degradable performance and cleaning products for multiple industries including the automotive aftermarket, well services, marine and outdoor power equipment markets.
Click here to view the SEC filings for GETG.
Bottom Line: GETG is a long-looking penny stock, one for a buy and hold trader rather than a flipper. Considering that GETG stock set a new 52 week high earlier in October, chances are a patient investor could sneak in in the low 20’s.
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