On the heels of its announcement of a new North America CEO, LiqTech International (OTC: LIQT) saw its stock drop $0.10 today. The company, based in Ballerup, Denmark, announced that Kathryn Radosevich, an executive in the environmental engineering field with more than 20 years of experience, has joined the company as CEO of LiqTech North America. Radosevich will assume all operational responsibilities. Prior to becoming CEO, she was a general manager for LiqTech.
LiqTech International is a company specializing in clean air and water technologies. The company has developed gas and liquid purification technologies using silicon carbide filters. The company also creates kiln furniture.
On June 26, 2012, LiqTech announced that CEO Lasse Andreassen had purchased additional shares of the company. Due to the growing demand for the silicon carbide membrane, the CEO purchased 537,000 restricted shares at $ 2.65 each. The company has shown growth in three areas of its business and has no debt.
Just a day earlier, on June 25, 2012, LiqTech announced that its equity had increased by $3,467,750 due to settlement of a debt obligation. The completion of the transaction saw the company’s total equity rise to $17,878,328.
After closing at $1.90 yesterday, LiqTech’s stock opened at $1.81 this morning at the opening bell. The price declined further, to $1.76, before closing today at $1.80, a 52-week low and a 5% drop from yesterday. The company’s stock has seen numerous ups and downs in the past 52 weeks. It reached its peak of $4.50 on February 6, 2012.
Volume was nearly 10 times above normal, with 257,000 shares traded, a 52-week high. Today’s volume was much higher than the daily average of 27,711 shares. Before today, the day with the highest volume was January 30, 2012, with 123,000 shares traded.
Despite LiqTech’s activity and demand for its silicon carbide membrane products, its stock has been through many declines in the past year. Its share price is now 60% below its highest number back in February 2012. There have been no recent stock promotions for the company. Its 52-week chart shows a gain one day and then a decline the next day.
What will the future hold for LiqTech International? Will the stock continue to decline? Will it see some steady gains in the near future? We shall see what will happen in the coming days.
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