Why Did the Umbra Applied Technologies Inc (OTCMKTS:UATG) Stock Jump 28% On Thursday?

There were a number of stocks which had managed to record substantial gains on Thursday and one of those was the Umbra Applied Technologies Inc (OTCMKTS:UATG) stock, which clocked gains of as much as 28% for the day.

Market Action      

On Thursday, UATG stock moved up 27.78% to $0.0023 with more than 4.74 million shares, compared to volume of 1.18 million shares. The stock moved within a range of $0.0018 – 0.0024 after opening trade at $0.0019.

UAT Group Subsidiary H2O Processing Partners with South Texas Water Disposal Company

Yesterday, the company announced that H20 Processing Inc, its subsidiary unit had gone into a partnership with Bellows Operating Salt Water Disposal LLC, which is based out of South Texas and operates as a water disposal firm. In this regard it should be noted that Bellows has been working in the water disposal space for more than thirty years and will bring considerable experience into the partnership.

It ought to be noted that H20 Processing is trying to enter the same industry and hence, the experience of Bellows could well prove to be highly advantageous. At this point in time, Bellows is responsible for operations that stretch across as many as 30 counties across the state of Texas. It services a number of disposal wells and innumerable clients in the state.

The latest partnership is going to help H20 Processing in strengthening its water and oil treatment technologies considerably. It may be a good time for investors to keep an eye on the Umbra Applied Technologies stock today.

Key Quote

H2O Processing Chief Executive Officer, Stan Abrams stated, “This new partnership with Bellows and their team will mutually expand and support our companies so that we can provide the highest level of service to our collective clients. Our combined network of resources will help us to grow our technologies and bring forth a new way of producing cleaner energy.”

Technical Data  

UATG stock is trading below the 20-Day and 50-Day Moving averages of $0.0024 and $0.0030 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0062.

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