More Contracts for Water Ways Technologies (WWT.V)
Water Ways Technologies (WWT.V), an agriculture technology company providing water irrigation and agriculture solutions to agricultural producers in Israel and internationally, has received another order for an irrigation system in China. The CAD 730k contract is following a long line of contracts, and we could see more orders in the future.
WWT’s New Contract
Water Ways (WWT) has received a C$730,000 order for a blueberry irrigation system in China.
The company’s Chinese subsidiary, IRRI-AL TAL (Shanghai) Agriculture Technology Company, will oversee the order, which involves the installation of a 2.7M sq. ft. turnkey blueberry irrigation project.
IRRI-AL TAL expects to deliver and install the project in Q3 2022.
Water Ways expects to recognize revenues from the project during Q2 and Q3 of 2022.
The order follows the successful implementation of several blueberry irrigation projects, including two in China and one in Mexico, as well as the delivery of components to Peru.
Recent Contracts
March 9th, 2022
WWT announced that its Canadian subsidiary, Heartnut Grove WWT Inc., based in Mt. Brydges, Ontario, received two orders to design and construct complete smart irrigation and fertigation projects. The first project will be deployed to a field of 34 Hectares (84 Acres) growing apples in southern Ontario. The second project was ordered by a recurring customer and will be deployed to a field of growing tomatoes. The Projects with a total value of CAD$500,000 will use the latest Israeli technologies for smart irrigation & control systems and are designed by Water Ways’ engineers. HGWWT expects to deliver and install the Projects in the second quarter of 2022.
February 14th, 2022
Water Ways Technologies Inc. announced the signing, of a third cotton smart drip irrigation project in Uzbekistan increasing project backlog to be executed in 2022 to over CAD$9,400,000 (compared to $CAD6,700,000 previously disclosed in their press release dated January 31, 2022).
The value of the third project in the Bukhara province of Uzbekistan is CAD$2,700,000 and is planned to be completed by the third quarter of 2022. The agreement includes CAD$100,000 in service and consulting services. The project irrigates using fully automated drip irrigation technology servicing a field of 886 hectares of cotton. The project includes the construction of 6 reservoirs of water and 6 complete head controls. Each head control consists of pumping system, filtration, pressure management units, fertigation, and a cloud based automation system which will activate and operate the entire system.
Recent Debt Settlement/New website
January 21, 2022
On January 21, 2022, the company announced that it has today agreed to issue to an arms-length service provider up to 102,321 common shares but no less than 88,837 common shares instead of payments to such service provider in the aggregate amount of $28,650. Issuance of the Shares remains subject to TSXV approval.
The Shares will be subject to a statutory hold period of four months plus a day from the date of issuance by applicable securities legislation.
The company also announced that their new and refreshed website is live. The updated site features improved graphics and an up-to-date project gallery, with dropdown menus for mobile and desktop versions. They have also improved the structure of their content, so user will get more from a quick read. A better and improved Investor section detailing the Company’s Press Release and Financial Statements.
Share movement
After being steady at $0.28, the stock price is getting more traction. It crossed the $0.30 price range again. Besides, the Bollinger bands indicate we could again cross the $0.30 (between $0.27 to $0.31). With the recent rise, the stock is still considered an uptrend. Indeed, its Simple MA (20) is at $0.29, and its Simplz MA (200) is at $0.26. Despite the worldwide geopolitical troubles, the continuous flow of contract news will help the company keep this uptrend. The RSI (Relative Stress Index) is at 50, meaning the stock price is healthy and isn’t overbought or oversold.
About the volume, WWT’s decreased over the last few weeks, passing from 185k (50 days average) to 84k (10 days average). This isn’t occurring just with WWT. Many companies are witnessing this event. For now, investors would instead invest in commodity stocks.
Bottom Line
Through its contracts, the company keeps on proving its technology attracts. Between renewing and new agreements, WWT shows it is a strong company. All the indicators look optimistic, whether short, mid, or long term. We were previously writing about WWT, and we will continue as it is a solid stock to invest in.
This article solely expresses the opinion of the writer which might be disagreeing with the other writers of Money,eh?. Moreover, the writer isn’t involved in WWT, and doesn’t own shares of the Company .