Monday, June 27, 2022

The Monster Breakout on BioHiTech Global Inc (OTCMKTS:BHTG)

BioHiTech Global Inc (OTCMKTS:BHTG) shares have been monster break out mode in recent trade, with the stock breaking out sharply higher in July and thus far in August, smashing through the $4/share range resistance level in a type specimen cup with handle formation. The company’s most recent catalyst is its announcement of the launch of “BHTG Smart Mode”, which is purportedly “a new technology for its Eco-Safe Digester and Revolution Series Digester lines of on-site food waste disposal equipment.”
According to the release, “Smart Mode leverages cloud computing, machine learning, and the on-board internet-connected computer in the digester to intelligently drive the equipment in order to optimize performance and reduce servicing downtime.” The announcement appears to have spawned an 80% 4-day rally extension, though we are dealing with a stock carrying an extremely small float (see below) amid a strong technical breakout, so attribution of causality in share movement is obviously far from simple.
BioHiTech Global Inc (OTCMKTS:BHTG), through its subsidiaries, provides technological, biological, and mechanical engineering solutions for the control, reduction, and/or reuse of organic waste in the United States and internationally. The company offers Eco-Safe Digester, a data-driven, network-based mechanical/biological technology, which transforms food waste into nutrient-neutral water that could be disposed of through conventional sanitary sewer systems. Its Eco-Safe Digester digests approximately 3,500 pounds of food waste every day, including vegetables, fruits, meat, fish, poultry, grains, coffee grinds, egg shells, and dairy products.
The company also provides BioHiTech Cloud, a cloud-based dashboard and mobile application that gives real-time visibility to the status of the device itself and provides insight to the efficiencies of the operations of food preparation and consumption of the user. Its principal customers include producers of food waste. The company serves healthcare, grocery, prison, retail food services, education, and full service hospitality industries.
BioHiTech Global, Inc. is headquartered in Chestnut Ridge, New York.
According to company materials, “BioHiTech Global (BHTG), “The Company” headquartered in Chestnut Ridge NY, develops and deploys innovative and disruptive waste management technologies. We provide waste management solutions to a global customer base encompassing a full suite of technology-based disposal options capable of having a significant impact on waste generation while providing a true zero landfill environment. With options for both on and off site biological treatment of waste, BioHiTech Global is a leader in zero waste solutions for businesses and municipalities of all sizes.”
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As noted above, we are dealing with a strong technical breakout in a small float stock as key catalysts impact the tape. That’s an interesting recipe no matter how you slice it. In this case, the key catalyst in recent days amounts to an extension of the brand with possible intellectual property implications as well.
To wit: The Company has filed a provisional patent application for the new software and believes this technology can be utilized for intelligent control of many types of PLC-controlled industrial machines serving a wide variety of vertical markets beyond waste disposal, according to the release.
“Smart Mode essentially makes our equipment much smarter,” said Bill Kratzer, Chief Technology Officer of BioHiTech Global. “By harnessing the computing power and data in our cloud, we have created software that can more intelligently control our equipment to improve performance and make our units even more cost effective.  Through this intelligent control system our machines can conserve more water and reduce energy usage, while improving the throughput and reliability of the equipment. This saves the customer money and has the potential to significantly reduce our servicing costs as we expand BioHiTech’s global footprint in the coming years.”
The chart shows 92% during the past month in terms of shareholder gains in the name. Market participants may want to pay attention to this stock. BHTG is a stock whose past is littered with sudden rips. Moreover, the listing has seen interest climb, with an increase in recent trading volume of just under 290% beyond its prior sustained average level.
It pays to take note of this fact given the stock’s tiny trading float of 1.8M shares. As savvy traders are well aware, ramping trading activity can overwhelm available supply in a stock with this type of small float, leading to an upward burst in prices.
At this time, carrying a capital value in the market of $62.6M, BHTG has a reported bankroll ($321K) of cash on the books, which stands against about $7.1M in total current liabilities. One should also note that debt has been growing over recent quarters. BHTG is pulling in trailing 12-month revenues of $2.4M. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 27.7%. You can bet we will update this one again as new information comes into view. For continuing coverage on shares of $BHTG stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: we hold no position in $BHTG, either long or short, and we have not been compensated for this article.

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