Shares of Legend Power Systems (OTCMKTS:LPSIF) have been under selling pressure over the past few weeks with a fall of 19% in a month.
Market Reaction
On Thursday, LPSIF stock ended flat at $0.2917 with 600 shares, compared to its average volume of 33K shares. The stock has moved within a range of $ 0.2917 – 0.2917 after opening trade at $0.2917.
Legend Power Corporate Update
Global leader in commercial electrical system solutions, Legend Power Systems (OTCMKTS:LPSIF) on December 9, 2021, provided a corporate update after its participation at the U.S. National ESCO Conference recently.
The firm, in active discussions with several potential partners as well as customers since the show, confirmed on shipment of the first Gen3 systems and having $10 million of working capital. It further confirmed on resolving the supply chain issues faced recently.
Legend Power was a part of the National Association of Energy Service Companies annual ESCO Conference R3 – Renovate, Retrofit and Reduce, held in Austin Texas on November 9, 2021.
Mike Cioce, Vice President of Sales and Marketing for Legend Power said that the company had several potential partners, including many CEO’s asking for a service provider to address power issues impacting commercial properties. Cioce added that they felt Legend’s SmartGATE platform is the correct manner to do it.
Mark Petersen, VP of Engineering for Legend Power Systems had done a webinar on Active Power Management webinar for the NAESCO organization covering opportunities and trends for the industry, which was attended by more than 30 organizations.
The company also confirmed on the shipping of Gen3 SmartGATE platforms to a number of large and existing customers.
Legend Power is also looking to expand market focus with the Federal market, channel sales as well as geographical expansion. It was also chosen as one of 60 companies to participate in the Southern California Utilities Energy Saving Assistance Program RFP. Randy Buchamer, CEO of Legend Power said that the installations of its latest SmartGATE Platform are a huge milestone and an enabler for its future success.
Traders Review
LPSIF stock is trading below the 20-Day and 50-Day Moving averages of $0.3450 and $0.3362 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0485. The stock is down 19% over the past month.
