Energy and Water Development Corp (OTCMKTS:EAWD) Releases FY2021 Results: Stock Falls
Energy and Water Development Corp (OTCMKTS:EAWD) is down 11% in a week. The engineering firm focused on delivering sustainable and innovative energy and water solutions has announced its operational and financial results for the year ending December 31, 2021.
Market Stats
On Tuesday, EAWD stock ended flat at $0.1902 with 23.67K shares, compared to its average volume of 47.2k shares. The stock moved within a range of $0.1902 – 0.1902 after opening trading at $0.1733.
Energy and Water Development Corp. Reports Full Year 2021 Financial Results with $550,000 in Revenue
Revenue grew from $0 a year before to $550,000 while gross profit increased from $0 to $200,000. The company had a gross margin of 35% and reported an operating loss of $0.938 million, representing an 87% decrease. At the end of the year, the company had $589,668 in cash.
In 2021 the company realized its first revenues in its history after deploying water and energy solutions in Mexico. Also, the company advanced its expansion in Europe after it joined a pioneering project in Grunheide, standing for sustainable development. In German, the company established a subsidiary as part of its commitment to local markets. Other highlights in 2021 include a trademark protection logo and name and global patent claims for energy-free water generation tech. So in the coming weeks, investors should watch EAWD.
Key Quote
Ralph Hofmeier, Chief Executive Officer of Energy and Water Development Corp., commented, “2021 was a very successful year for our Company and sets us up to accelerate the number of active projects and revenue in 2022. We are ready to enter the next growth phase of our business, as we focus on revenue-producing innovative water and energy generation system projects starts with our first project in Germany in the city of Grünheide (Mark), just 20 miles east of Berlin’s city center.”
Traders Corner
EAWD stock is trading above the 20-Day and 50-Day Moving averages of $0.18 and $0.21 respectively. However, the stock is trading below the 200-Day moving average of $0.25.
