Summary
• Clean Energy Technologies, Inc. (CETY) stock rises 5% in pre-market trading to $0.8033 amid regulatory review progress.
• The company’s affiliate, Vermont Renewable Gas, has made submissions to the Vermont Public Utility Commission for project approval.
• CETY’s stock remains significantly below historical averages, with notable volatility metrics indicating a potentially unstable trading environment.
Clean Energy Technologies, Inc. (CETY) is trading at $0.8033, marking a 5% increase from its last close of $0.7625 in pre-market trading. This movement reflects ongoing interest following recent developments regarding its affiliate Vermont Renewable Gas in the regulatory framework.
Regulatory Review Progress Sparks Interest
The rise in CETY’s stock price aligns with the announcement that Vermont Renewable Gas, LLC, an affiliate of the company, has submitted its first round of discovery responses to the Vermont Public Utility Commission as part of the Certificate of Public Good (CPG) review process for a proposed 2.2 MW renewable electric generation facility in Lyndon, Vermont. This advancement demonstrates the company’s progress in gaining regulatory approval for key projects that are integral to its clean energy strategies.
With a focus on scalable solutions in power generation, storage, and waste-to-energy initiatives, CETY remains on a strategic path to enhance its operational capabilities. Investors are closely monitoring these developments, anticipating further updates that may impact the stock’s performance.
Market and Technical Picture
CETY is currently experiencing a rally while trading remarkably below its historical averages. The stock has a 20-day simple moving average (SMA) down 23%, a 50-day SMA down 48%, and a 200-day SMA down 80%. The 52-week high stands at nearly 93% above the current price, underscoring significant downward momentum over longer periods. Short-term volatility metrics indicate a weekly volatility of 5.05 and a monthly volatility of 12.58, suggesting a relatively unstable trading environment.
Average trading volume highlights a stark contrast, with the recent 10-day average at approximately 130,486 shares, but a much higher three-month average of 5,851,363 shares. This discrepancy points towards potential upcoming volatility as market participants engage with the latest developments surrounding the company.
Conclusion
The recent rise in CETY’s stock price reflects positive sentiment linked to the company’s regulatory advancements regarding its renewable energy initiatives. As traders continue to navigate this pre-market momentum, the focus will remain on how forthcoming updates may further influence stock stability and investor confidence.