Cloud services provider Digerati Technologies Inc (OTCMKTS:DTGI), which is mainly focussed on small to medium sized enterprises, was in the news yesterday and saw its stock soar by as much as 5%.
Market Action:
On Wednesday, DTGI stock rose 2.56% at $0.1103 with more than 372.49K shares, compared to its average volume of 245.37K shares. The stock has moved within a range of $0.1051 – 0.1149 after opening the trade at $0.1149.
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The rally commenced after it announced its financial results for the fourth quarter and the full year, both of which ended on July 31, 2021. It might be a good idea for investors to take a look at the actual numbers in order to make up their minds about the Digerati stock one way or another. In the fourth quarter, the revenues jumped to $3.787 million and that reflected a year on year rise of a staggering 142%.
On the other hand, the gross profit for the fourth quarter stood at $2.360 million which worked out to a year on year rise of as much as 170%. In the prior year period, the gross profits had stood at only $0.875 million. In this regard, investors ought to note that in the fourth quarter the company had managed to boost its gross margins to 62.3% and that was considerably higher than the gross margins of 55.8% in the fourth quarter of 202.
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