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Highlights
- Cielo Waste Solutions Corp (TSXV:CMC) , a Canadian utility enterprise, saw its stock price gallop by nearly 31 per cent on Tuesday, January 11, noting a daily trading volume of over 13 billion.
- The Vancouver, Canada-headquartered company leverages its waste-to-fuel technology to transform household and industrial waste into quality renewable fuels.
- Its scrips have rocketed over 276 per cent in a year.
Cielo Waste Solutions Corp (TSXV:CMC), a Canadian utility enterprise, saw its stock price gallop by nearly 31 per cent on Tuesday, January 11, noting a daily trading volume of over 13 billion.
The Vancouver, Canada-headquartered company leverages its waste-to-fuel technology to transform household and industrial waste into quality renewable fuels. It is also known to implement a thermal catalytic depolymerization process to produce diesel, kerosene and naphtha.
So, without any further ado, let us look at the stock and financial performance of this up-and-coming junior waste management company.
Cielo Waste Solutions Corp (TSXV:CMC) stock performance
Cielo Waste Solutions Corp saw its share prices soar by over 52 per cent in the last one week. In the past year, the waste management stock has skyrocketed by over 276 per cent.
The waste management stock closed at a price of C$ 0.32 apiece on Tuesday, noting a rise of nearly 31 per cent in a single day.
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Cielo Waste Solutions Corp’s financial results for Q2 FY2022
Cielo Waste Solutions Corp’s general and administrative expenses increased to C$ 1.65 million in Q2 FY2022, up from that of C$ 0.46 million in Q2 FY2021.
The Vancouver-based waste management company also noted financing costs of C$ 0.85 million in the latest quarter, as compared to C$ 1.15 million in the same period a year ago.
The waste management enterprise reported increased research and development expenses of C$ 2.10 million in Q2 FY2022, as against that of C$ 0.36 million in the second quarter of fiscal 2020.
Cielo Waste Solutions, in Q2 FY2022, also incurred a net loss of C$ 4.84 million in the latest quarter, as compared to that of C$ 2.92 million in the same quarter a year ago.
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Bottom line
Cielo Waste Solutions reported total assets of C$ 53.65 million in the quarter ending October 31, 2021, up by C$ 8.5 million from the previous quarter.
This increase, the company said, was primarily due to assets purchased in Fort Saskatchewan, Alberta. The company also reduced its total liabilities by C$ 1.9 in the second quarter of FY2021.
Considering that the waste and wastewater management industry is a fast-growing one amid increasing climate change awareness, Cielo Waste Solutions could become a growing business in the future.
