H2O Innovation (TSXV:HEO) Stocks Rise 17% On Tesla Contract Rumors

January 19, 2021 07:18 AM EST | By Kunal Sawhney

H2O Innovation (TSXV:HEO) Stocks Rise 17% On Tesla Contract Rumors

H2O Innovation’s C$ 3.2-million New Contracts

H2O Innovation Inc announced the signing of multiple new industrial and wastewater deals in its latest corporate update. The projects are reportedly worth C$ 3.2 million, which will help bring the company’s Water Technologies and Services sales backlog to C$ 37.1 million.

For its engineering project with the US-based EV plant, H2O Innovation Inc will be modelling a couple of identical reverse osmosis trains, each of which will be rated at 2,200 cubic meters per day. Once the project is complete, H2O Innovation said it will be issued a purchase order.

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H2O Innovation (TSXV:HEO) Stock Performance

The Quebec-based company currently has its stocks ranked high among the scrips of small- and micro-cap utilities companies on the TSXV.

H2O Innovation stocks, currently priced at C$ 3, surged by about 47 per cent this year and by nearly 54 per cent in the last three months.

The C$ 235-market cap company currently posts a price-to-book (P/B) ratio of 3.371, a price-to-cashflow (P/CF) ratio of 16.9 and debt-to-equity (D/E) ratio of 0.42, as per the data available on the TMX portal.

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