Neah Power Systems Inc (OTCMKTS:NPWZ) shares traded sideways on Wednesday as there were no catalysts for the company. The company has a market cap of $694K at 1.75 billion shares outstanding. Share prices have been trading in a 52-week range of $0.00 to $0.00.
Earlier in the month, Neah Power Systems announced that it was selected as a semi-finalist by the Department of Energy (DOE). The company has since been required to make additional submissions to the DOE by July 8 as part of the semi-finalist review.
Last week, the company reported a sharp increase in short interest 3.68 million shares in July as published by FINRA. Share prices are down 85.00% since December 23, 2015 and have underperformed the S&P500 index by 92.47%. The company has yet to print its financial results for this year so investors don’t have much clues on how Neah Power Systems has been performing so far.
Neah Power Systems is a company that is engaged in the development and sale of renewable energy solutions using its direct methanol micro fuel cell technology, its formic acid fuel cell technology and its reformer technology. Its fuel cells are designed to replace existing rechargeable and non-rechargeable battery technology in a range of applications, with the company’s solutions targetting military, transportation and portable electronics applications.
What makes its power cells distinctive is their ability to recharge instantly and be operable in air and non-air environments, providing a longer life with lower total cost of ownership. Its product solutions offerings include the patented and patent pending PowerChip®, Formira® and the BuzzBar Suite® of products. The PowerChip is targeted for applications where the quality of the surrounding air is unpredictable or not available, such as diesel-fumes contaminated environments or underwater applications while Formira is a reformer platform for direct on-site generation of hydrogen gas.
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