Shares of Universal Bioenergy Inc. (PINK: UBRG), a producer and marketer of natural gas, petroleum, coal, propane and refined petroleum energy products, are down sharply in trading today.
At last check, UBRG shares were trading 4.17% lower at $0.0115 on above average volume of 8.60 million. Despite todayâ€™s losses, the stock gained 21.05% in the last three trading sessions.
UBRG shares are down today even as the company announced plans to create a new next generation energy company, with dominant market position. UBRG said that it continues to expand at a solid growth rate and has aggressive plans to grow into a billion dollar company in the next 2 to 5 years through mergers and acquisitions.
In 2011, Universal Bioenergy posted sales of $71.74 million. UBRG today said that it expects profitability to be forthcoming in 2012. The company also expects operating margins to improve.
Vince M. Guest, President of Universal Bioenergy, said that UBRG is very excited about the potential growth of the company. Guest said that the company expects to double its revenue in the next 12 to 18 months through more acquisitions, gas storage and higher sales of natural gas, propane, oil and coal for electric power plants.