Cavitation Technologies Inc (OTCMKTS:CVAT) Stock In Focus After Recent Update

Cavitation Technologies Inc (OTCMKTS:CVAT) on June 7, 2022, announced launch of the Feasibility Study and Remediation Pilot in South Africa. Valued at $1.7 million, it will be funded through United States Trade and Development Agency and aims to identify solutions to the reduced water supply and greater wastewater challenging Africa and world-at-large.

Market Stats

On Tuesday, CVAT stock fell 5.66% to $0.0500 with 89K shares, compared to its average volume of 141K shares. The stock moved within a range of $0.0500 – 0.0515 after opening trading at $0.0513.

Cavitation Technologies, Inc. to Launch Water Remediation Pilot and Feasibility Study in South Africa

The FS projectis sponsored by the University of Cape Town’s Future Water Institute through its research site in the Western Cape of South Africa. The project team comprises CVAT and Partnership International with local-subcontractor Alveo Water as well as the University of Cape Town’s Future Water Institute in Cape Town.

CVAT’s patented technology reduces wastewater generation through greater supply at lower costs and enablingthe industry to recycle wastewater. The global market for reuse and wastewater recycling was estimated at $21.3 billion in 2021. It is expected to reach $40.5 billion by 2026, registering a CAGR of 14%.

Roman Gordon, Global Technology Manager at CVAT said that the industry is witnessing a lack of efficiency in demand and supply chain. Gordon added that it is resulting in the drying up of society’s most precious resources. Gordon added that the firm has novel proprietary nanotechnology facilitating remediationof produced water. This leads to conservingthe vital resource of fresh water as well as helping to repurpose produced water.

Traders Corner

CVAT stock is trading below the 20-Day and 50-Day Moving averages of $0.0474 and $0.0507 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0778.