Envirotech Vehicles Inc. (OTCMKTS:EVTV) Stock In Focus After Fourth Quarter Earnings

Envirotech Vehicles Inc. (OTCMKTS:EVTV) is moving in a range after announcing its Q4 and Full-year 2021 results for the period ending December 31, 2021. In the fourth quarter, the company reported sales of $674,693 relative to $0 in the same quarter a year ago.

Market Reaction

On Wednesday, EVTV stock fell 0.51% to $0.2810 with 245K shares, compared to its average volume of 411K shares. The stock moved within a range of $0.2700 – 0.3195 after opening trade at $0.30.

Envirotech Vehicles Reports Fourth Quarter and Full Year 2021 Results

The sales growth is attributed to the sale of six cars in Q4 2021 relative to no cars in Q4 2020. The quarter’s sales also included inspection and maintenance service sales. The company reported sales of around $2.043 million for the whole year relative to $88,735 in fiscal 2020. In 2021 the company sold 20 vehicles relative to none in 2020.

Net loss in the fourth quarter was $4.359 million or $0.01 per share compared to a net loss of $24,660 in Q4 2020. For the full year ending December 31, 2021, the company reported a net loss of $7.652 million or $0.03 per share relative to a net loss of around $279,521 in fiscal 2020. So in the coming weeks, EVTV is worth watching.

Key Quote

Phillip Oldridge, CEO of Envirotech Vehicles, commented, “Throughout 2021, we experienced a significant increase in order activity for our best-in-class fleet of electric trucks and vans. State and federal voucher programs like the New Jersey Zero Emission Incentive Program (NJ ZIP), for which we are an approved vendor, continue to grant vouchers to our customers for the purchase of our vehicles, as well as heightened order activity from our factory authorized representative, or FAR, network.”

Traders Review

EVTV stock is trading below the 20-Day and 50-Day Moving averages of $0.30 and $0.30 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.27.

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