On the heels of announcing a deal with Dresser-Rand Group, Inc. (NYSE:DRC), the previously promoted penny stock of Ener-Core, Inc. (ENCR) had a perfect chance to allow for the recent private placement financing participants to bang in some profits. Due to receive $1.6 million from the global supplier of custom-engineered rotating equipment solutions to develop and market the Dresser-Rand KG2-3GEF two-megawatt gas turbine coupled with the Company’s oxidizer, shares of ENCR stock exploded to almost double from yesterday’s closing price of 0.18. Having had a rough ride all summer only to jump over 400% between August 18 and September 18, the recent bump upwards brings to light how volatile alternative energy tickers can be, especially when they are on the pump.
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ENCR Stock Quote
Back in March, we touched on how Ener-Core had the ability to get their foot in the door of what Americans will eventually be forced to understand – the extraction of energy from previously unusable low Btu fuels, while significantly reducing harmful pollutants and creating useful energy products such as heat and electricity. During the course of the first 9 months of 2014, the Company has managed to book revenues worth $868,000 while, at the same time, increase their cash balance from $1.2 million to $4.0 million without incurring any significant debt on their balance sheets since the start of the year.
A good reason for that was Ener-Core closed a $4 million private placement deal just prior to the end of the 3rd quarter by issuing roughly 26.7 million shares of restricted ENCR stock at $0.15 to existing shareholders, institutional investors, the Company’s CEO, CFO, and three members of its Board of Directors including its Chairman. If it wasn’t for the Company having initially been incubated with the assistance of David M. Loev and John S. Gillies of The Loev Law Firm,the deal would indicate that ENCR stock should trade higher than 0.15 from this point forward.
Even though not linking the ticker symbol for Dresser-Rand in this morning’s PR announcement was still enough juice to drive buyers towards ENCR stock early, all has been lost, even for those who bought shares prior to yesterday’s close of 0.18. With nearly $1 million already traded on the session, the inclusion of ENCR in the top 10 OTC stocks traded could just be enough to have this one get tossed around again tomorrow.
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About ENCR Stock
Ener-Core. Inc. is a development stage company focused on designing, developing, and manufacturing Gradual Oxidizer products and technology that aim to expand power generation into previously uneconomical markets, while, at the same time, reducing the emissions of gases produced from industrial processes that contribute to air pollution and climate change.
Click here to view the SEC filings for ENCR.
Click here to view the website for Ener-Core.
Authorized: 200,000,000
Issued and Outstanding: 113,683,362
Last 5 Trading Sessions:
| Date | Open | High | Low | Last | Change | % Chg | Volume |
| 11/19/14 | 0.2100 | 0.3300 | 0.1700 | 0.1700 | -0.0100 | -5.56% | 4,030,695 |
| 11/18/14 | 0.1500 | 0.1850 | 0.1480 | 0.1800 | +0.0350 | +24.14% | 342,600 |
| 11/17/14 | 0.1500 | 0.1600 | 0.1300 | 0.1450 | +0.0150 | +11.54% | 442,800 |
| 11/14/14 | 0.1800 | 0.1800 | 0.1210 | 0.1300 | -0.0450 | -25.71% | 1,904,000 |
| 11/13/14 | 0.1975 | 0.2000 | 0.1721 | 0.1750 | -0.0250 | -12.50% | 283,700 |
Bottom Line:
The volume levels on all OTC listed penny stocks that aren’t FNMA, FMCC, AEMD or ENCR are pretty much all below normal as the doldrums of November trading slowly grind away. Atleast news came out a few minutes ago that StockTips is due to release their new pick at anytime which could mean that something is due to see a surge in volume come Friday afternoon. The landing page for the previous ENCR stock promo from Spring is no longer up which likely means it won’t be their pick, but with tickers like TSTS still waiting to explode, seeing these ridiculous selling into gap open conditions has to eventually end.
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