Liquidia Corp (NASDAQ:LQDA) closed slightly lower on Friday but gained for the week. Buy, Sell Or Hold?
Market Action
LQDA stock closed lower by 0.73% at $2.72 and for the week went up about 3%. More than 310K shares traded hands for the session. The stock opened at $2.79 and moved within a range of $2.6685-$2.84. The stock has lost about 64% over the past year.
LQDA Reports Q1 Results
This week, Liquidia released its first quarter 2021 financial results and provides corporate update. Following were the key highlights:
- Cash totaled $53.6 million and $65.3 million as of March 31, 2021, and December 30, 2020, respectively. This cash total does not include proceeds from the private placement of common stock in April 2021.
- Revenue of $3.1 million was recognized for the three months ended March 31, 2021, as compared to no revenue for the three months ended March 31, 2020.
- Net loss for the quarter ended March 31, 2021, was $9.2 million, or $0.21 per basic and diluted share, compared to a net loss of $14.8 million, or $0.52 per basic and diluted share, for the quarter ended March 31, 2020.
Trader Notes
LQDA has traded between 2.30/2.50 and 2.75/3.00 for the last three months. The stock appears to be compressing with lower highs and higher lows. LQDA is right on its 20 and 50 day moving averages, but still well below its 200 MA. Both RSI and MACD are neutral.
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