Synthesis Energy Systems, Inc. (NASDAQ:SYMX)
Shares of Synthesis Energy Systems, Inc. (NASDAQ:SYMX) gained over 40% and closed trading at $0.51 per share. The gains come one day after the company released news that the largest capacity industrial synthetic gas facility for the Aluminum Corporation of China Limited (CHALCO) (NYSE:ACH) has successfully completed performance testing – the facility operates four SGT systems. This concludes successful performance testing at all seven SGT systems installed for CHALCO.
DeLome Fair, President and CEO of Synthesis Energy Systems, Inc. (NASDAQ:SYMX), stated “This latest milestone achievement at the largest capacity SGT project to date comes as we are in negotiations for similar and larger clean energy projects around the world. Our proprietary technology’s clean synthesis gas replaces expensive natural gas for numerous energy and chemical uses, including industrial fuel.”
Synthesis Energy Systems, Inc. (NASDAQ:SYMX) technology utilizes unpopular fuel sources including low-rank, low-cost high ash, high moisture coals, which are significantly cheaper than higher grade coals, waste coals, biomass, and municipal solid waste feedstocks. Houston, TX-based Synthesis Energy Systems, Inc. (NASDAQ:SYMX) devotes itself to generating clean, high-value energy from low-cost and low-grade coal, biomass and municipal solid waste through its proprietary technology that transforms these resources into a clean synthesis gas (syngas) and methane. Synthesis Energy Systems, Inc. (NASDAQ:SYMX)’s proprietary technology enables the production of clean, low-cost power, industrial fuel gas, chemicals, fertilizers, transportation fuels, and substitute natural gas, replacing expensive natural gas-based energy. Synthesis Energy Systems, Inc. (NASDAQ:SYMX)’s technology can also produce high-purity hydrogen for cleaner transportation fuels.
Shareholders of Synthesis Energy Systems, Inc. (NASDAQ:SYMX) have not seen rewards for some time. YTD the shares are down 64% and down over 66% for the year. Just this week the company’s shares established a new 52-week low of $0.34 and the analyst’s have a one-year price target of $1.75 which is considerable higher than the stock’s 52-week high of $1.45. Losses have plagued stockholders for the past five years. In 2012, SYMX shareholders had a per share loss of (-$0.39). The following years have seen similar losses and in 2016 the company posted a loss of (-$0.27). Sales have been on a downtrend as well. In 2014 the company posted sales of $17.5 million but for 2016 that figure was only $6 million.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.