Shares of Sefe Incorporated (OTC: SEFE), a company focused to develop and bring to market a renewable source of energy, jumped on Monday.
SEFE shares rose 31.43% to finish the day at $2.30 on Monday, taking their gains in the last three trading sessions to more than 47%. The penny stock has extended its gains in pre-marketing trading today, rising nearly 3.50%.
Sefe Incorporated shares were lifted on Monday after the company said that Grass Roots Research & Distribution Inc. (GRRD), Wall Street’s leading independent micro-cap research firm, initiated coverage on SEFE stock with a Buy recommendation. GRRD set a price target of $5.95 on SEFE stock.
Meanwhile, SEFE also announced on Monday that it will be a sponsor at the Electric Power Conference and Exhibition in Baltimore, Maryland. The conference, which will be held from May 15 to May 17, will represent an excellent match for SEFE’s cutting-edge atmospheric energy technology. Last year, over 170 power generating companies from over 26 countries took part in the conference.
Commenting on SEFE’s participation in the conference, CEO Don Johnston said that based on where SEFE is in the research and development phase , the timing of the conference is ideal.
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