Water Tech Stock Flows Higher on Financial Results

H2O Innovation Inc. (TSXV:HEO), a Canadian water tech stock, climbed after announcing Q1 financial results

Sean Mason | November 13, 2019 | SmallCapPower

Gushing revenue and EBITDA growth propelled a Canadian water tech stock Wednesday. Here’s some small stocks making big moves on Wednesday, November 13, 2019 (as of 4 pm EST):

H2O Innovation Inc. (TSXV:HEO), a Canadian water tech stock, surged 13% to $1.20 on Wednesday after announcing that its first-quarter revenue rose 15.8% to $28.2 million, while adjusted EBITDA for the quarter increased 28.4% to $1.6 million.

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As well, shares of Eco (Atlantic) Oil & Gas Ltd. (TSXV:EOG) plunged 47% to $1.15 as the oil and gas producer/explorer provided an additional operational update following initial well results analysis on its two recent oil discoveries in Guyana, saying that initial results suggest that the samples recovered to date from Jethro-1 and Joe-1 are mobile heavy crudes, not dissimilar to the commercial heavy crudes in the North Sea and Gulf of Mexico, with high sulphur content.

Home Capital Group Inc. (TSX:HCG), meanwhile, reported 63% year-over-year earnings per share growth for its third quarter, while also announcing that it intends to launch a Substantial Issuer Bid to repurchase for cancellation up to $150 million of its common shares. Home Capital Group stock moved up 14% to $33.15 following the announcement.

Finally, Goldsource Mines Inc. (TSXV:GXS) shares rose as much as 13% after the gold junior announced expansion drill results for the Salbora deposit located about 1.5 kilometres northwest of the Company’s main Eagle Mountain Gold Project in Guyana, which included 80.0 metres grading 2.07 grams per tonne (g/t) gold.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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