Enviro Technologies U.S., Inc. (OTC: EVTN) is emerging as one of the most intriguing plays in the OTC after reverse merging with the subsidiary of a NASDAQ listed company. Upon announcing this deal, EVTN stock climbed more than 550% and has the potential to witness a continuation thanks to investors’ optimism on this reverse merger’s prospects. As the company plans to release an 8K including more details regarding the deal soon, EVTN stock could be one to watch this quarter for more updates. Meanwhile, many investors are bullish EVTN could be one to hold long-term as the company is set to operate in the lucrative oil industry. With this in mind, EVTN could be one of the most profitable oil company stocks to invest in this year.
EVTN Fundamentals
Originally providing water separation technology, EVTN has been manufacturing and selling its patented technology the Voraxial Separator. While this technology has major potential in the oil industry, EVTN has not been able to market this technology efficiently. However, EVTN stock attracted investors’ attention after reverse merging with Banner Midstream Corp – a wholly owned subsidiary of Ecoark Holdings, Inc. (NASDAQ: ZEST). In light of this deal, EVTN soared more than 550% as many investors are confident the stock could be extremely undervalued thanks to the value Banner adds to the stock.
According to this deal, EVTN will issue 12.9 million shares to ZEST in exchange for all of Banner’s issued and outstanding shares. In this way, ZEST will retain a 70% ownership of Banner upon the closing of the deal – allowing it to issue a 1 to 1 dividend of EVTN shares to its shareholders. With this in mind, this forward split could have a major impact on EVTN’s PPS as it could add more value to EVTN shareholders. Considering that Banner realized $18.7 million in revenues for the year ended March 31, 2022, EVTN could be one of the most undervalued oil company stocks at its current market cap of $2.1 million. Based on this, the forward split could reflect EVTN’s true value on its PPS.
On that note, Banner provides oilfield services on more than 20 thousand acres of active mineral leases in Texas, Louisiana, and Mississippi. Moreover, EVTN has several companies under its umbrella allowing it to serve the oil industry in different capacities. Through Pinnacle Frac Transport, Banner ships and supplies the frac sand required by companies for the hydraulic fracturing process. To facilitate this, Banner uses the Sandbox process which eliminates the need for multiple frac sand transfer points so the silica particles do not get released into the air. As a result, Pinnacle is able to meet the industry demand for its services more efficiently.
In addition, Banner procures and finances equipment to oilfield transportation service contractors through its subsidiary Capstone Leasing. This subsidiary operates in Texas and has served several major oil field companies in the US since its inception in 2018. Considered to be one of the most prominent US companies in its field, Capstone’s addition under EVTN’s umbrella could make the stock one of the most undervalued oil company stocks at the moment.
Meanwhile, many investors are bullish on the future prospects of adding Banner’s CEO Jay Puchir to the company thanks to his extensive experience. During his career, Puchir was CEO and CFO of ZEST and was also an associate CFO at HCA Healthcare (NYSE: HCA). Considering this experience with public companies, investors are confident EVTN could be one of the best oil company stocks to invest in under Puchir’s leadership.
Although the company has not shared more news regarding the reverse merger with Banner, investors are anticipating the 8K EVTN intends to file at a later date that will include the transaction documents. With the company promising to share the 8K upon closing the reverse merger, EVTN could be one of the oil company stocks to hold as it could witness another parabolic run with more news regarding the deal.
Technical Analysis
As one of the hottest oil company stocks, EVTN is trading at $.38 and has a resistance at its 52-week high of .40. The stock also shows supports near .2821, .1477, and .050. With the company securing a profitable reverse merger, EVTN soared more than 550% due to the bullish sentiment surrounding this deal. Considering that the company intends to file an 8K upon closing the deal including more details about the deal, EVTN could be on track to reach a new 52-week high. With this in mind, EVTN has the potential to continue climbing this week as more investors take notice of the stock.
As a golden cross of the MAs appears to be approaching on the hourly chart, bullish investors could wait for the golden cross to occur before adding to their positions. It is worth noting that there is a gap near $.06 on the chart that could be filled, however, gaps could take weeks or months to fill so the stock could continue running if enough volume is there.
In light of EVTN’s profitable reverse merger, accumulation spiked and the MACD is bullish to the upside. The RSI is picking up at 72 indicating that EVTN is overbought at the moment. As a result, EVTN could momentarily drop near its support at $.28 for the RSI to regulate before going on another leg. EVTN has a solid share structure with an OS of 5.7 million and a low float near 3.2 million.
EVTN Forecast
With the company securing a reverse merger with Banner, EVTN could be well-positioned for significant growth in the oil industry thanks to Banner’s subsidiaries. With this in mind, Banner is already profitable and has generated $18.7 million for the year ended March 31, 2022. In this way, EVTN could be extremely undervalued at its current market cap of only $2.1 million – making the stock a bargain at its current PPS. Considering that the company intends to effect a forward split upon the closing of the merger, EVTN could be one of the oil company stocks to hold onto for the long-term. As the company intends to file an 8K including more details about the deal upon closing, EVTN is one of the oil company stocks to watch closely this quarter.
EVTN Fundamentals
Originally providing water separation technology, EVTN has been manufacturing and selling its patented technology the Voraxial Separator. While this technology has major potential in the oil industry, EVTN has not been able to market this technology efficiently. However, EVTN stock attracted investors’ attention after reverse merging with Banner Midstream Corp – a wholly owned subsidiary of Ecoark Holdings, Inc. (NASDAQ: ZEST). In light of this deal, EVTN soared more than 550% as many investors are confident the stock could be extremely undervalued thanks to the value Banner adds to the stock.
According to this deal, EVTN will issue 12.9 million shares to ZEST in exchange for all of Banner’s issued and outstanding shares. In this way, ZEST will retain a 70% ownership of Banner upon the closing of the deal – allowing it to issue a 1 to 1 dividend of EVTN shares to its shareholders. With this in mind, this forward split could have a major impact on EVTN’s PPS as it could add more value to EVTN shareholders. Considering that Banner realized $18.7 million in revenues for the year ended March 31, 2022, EVTN could be one of the most undervalued oil company stocks at its current market cap of $2.1 million. Based on this, the forward split could reflect EVTN’s true value on its PPS.
On that note, Banner provides oilfield services on more than 20 thousand acres of active mineral leases in Texas, Louisiana, and Mississippi. Moreover, EVTN has several companies under its umbrella allowing it to serve the oil industry in different capacities. Through Pinnacle Frac Transport, Banner ships and supplies the frac sand required by companies for the hydraulic fracturing process. To facilitate this, Banner uses the Sandbox process which eliminates the need for multiple frac sand transfer points so the silica particles do not get released into the air. As a result, Pinnacle is able to meet the industry demand for its services more efficiently.
In addition, Banner procures and finances equipment to oilfield transportation service contractors through its subsidiary Capstone Leasing. This subsidiary operates in Texas and has served several major oil field companies in the US since its inception in 2018. Considered to be one of the most prominent US companies in its field, Capstone’s addition under EVTN’s umbrella could make the stock one of the most undervalued oil company stocks at the moment.
Meanwhile, many investors are bullish on the future prospects of adding Banner’s CEO Jay Puchir to the company thanks to his extensive experience. During his career, Puchir was CEO and CFO of ZEST and was also an associate CFO at HCA Healthcare (NYSE: HCA). Considering this experience with public companies, investors are confident EVTN could be one of the best oil company stocks to invest in under Puchir’s leadership.
Although the company has not shared more news regarding the reverse merger with Banner, investors are anticipating the 8K EVTN intends to file at a later date that will include the transaction documents. With the company promising to share the 8K upon closing the reverse merger, EVTN could be one of the oil company stocks to hold as it could witness another parabolic run with more news regarding the deal.
Technical Analysis
As one of the hottest oil company stocks, EVTN is trading at $.38 and has a resistance at its 52-week high of .40. The stock also shows supports near .2821, .1477, and .050. With the company securing a profitable reverse merger, EVTN soared more than 550% due to the bullish sentiment surrounding this deal. Considering that the company intends to file an 8K upon closing the deal including more details about the deal, EVTN could be on track to reach a new 52-week high. With this in mind, EVTN has the potential to continue climbing this week as more investors take notice of the stock.
As a golden cross of the MAs appears to be approaching on the hourly chart, bullish investors could wait for the golden cross to occur before adding to their positions. It is worth noting that there is a gap near $.06 on the chart that could be filled, however, gaps could take weeks or months to fill so the stock could continue running if enough volume is there.
In light of EVTN’s profitable reverse merger, accumulation spiked and the MACD is bullish to the upside. The RSI is picking up at 72 indicating that EVTN is overbought at the moment. As a result, EVTN could momentarily drop near its support at $.28 for the RSI to regulate before going on another leg. EVTN has a solid share structure with an OS of 5.7 million and a low float near 3.2 million.
EVTN Forecast
With the company securing a reverse merger with Banner, EVTN could be well-positioned for significant growth in the oil industry thanks to Banner’s subsidiaries. With this in mind, Banner is already profitable and has generated $18.7 million for the year ended March 31, 2022. In this way, EVTN could be extremely undervalued at its current market cap of only $2.1 million – making the stock a bargain at its current PPS. Considering that the company intends to effect a forward split upon the closing of the merger, EVTN could be one of the oil company stocks to hold onto for the long-term. As the company intends to file an 8K including more details about the deal upon closing, EVTN is one of the oil company stocks to watch closely this quarter.