IRVINE, Calif., May 6, 2011 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc. (Pink Sheets:UBRG). Shares of Universal Bioenergy climbed 22.45% on Thursday May 5, 2011 after it released news that its subsidiary NDR Energy Group was awarded a contract to supply natural gas to one of the nation's largest gas distribution companies.
The shares reached as high as the $0.096 mark and later settled to $0.09 at the close of the trading day, for a gain of 22.45% over the previous trading day. The stock was trading at an unusually high volume Thursday as investors quickly snapped up the shares with a total of 7,619,346 shares changing hands. The volume was 5.70 times the average daily trading volume of 1,335,490 shares. This was the Company's third highest trading day on record with an average of over 1.17 million shares trading every hour of the trading day. The growth in price and volume of shares has seen a steady upward trend since Standard & Poor's commenced Factual Stock Report coverage on the Company in April of this year.
"We believe there are even greater days ahead of us in terms of our future growth prospects, and many more investors are now responding with even greater confidence. This is very good news for our shareholders since our stock rose by a tremendous gain of 22.45% in value, which went against the downward trend on the other major exchanges yesterday such as the NYSE and NASDAQ," Solomon Ali, Universal's Senior Vice President concluded.
About The Company
Universal Bioenergy Inc. is an alternative energy company, and intends to create and market natural and alternative energy sources including natural gas, petroleum, solar, biofuels, wind, synthetic fuels and related energy technology products. It plans to build the company into a prominent player in alternative energy.
The Universal Bioenergy Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6784
Safe Harbor Statement - There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Universal Bioenergy Inc.'s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.