Newater Technology Inc’s Quiet Period Will End on September 6th (NASDAQ:NEWA)
Newater Technology’s (NASDAQ:NEWA) quiet period is set to end on Wednesday, September 6th. Newater Technology had issued 1,400,000 shares in its IPO on July 28th. The total size of the offering was $7,000,000 based on an initial share price of $5.00. During Newater Technology’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Newater Technology (NASDAQ NEWA) traded down 2.15% on Friday, hitting $8.66. 21,715 shares of the company were exchanged. The firm has a 50 day moving average of $9.84 and a 200-day moving average of $11.52. Newater Technology has a 52-week low of $7.32 and a 52-week high of $11.80. The stock’s market cap is $91.79 million.
About Newater Technology
Newater Technology, Inc is a wastewater purification treatment company. The Company is focused on the development, manufacture and sale of disk tube reverse osmosis (DTRO) and disk tube nanofiltration (DTNF) membrane filtration products that are used in the treatment, recycling and discharge of wastewater.
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