Healthy snacks company Nightfood Holdings Inc (OTCMKTS:NGTF) has not been in the news for quite some time and hence, it was perhaps not a surprise to see its stock trading within a range on Tuesday.
Market Action
On Tuesday, NGTF stock fell 4.90% at $0.1902 with more than 173k shares, compared to its average volume of 232k shares. The stock has moved within a range of $0.1902 – 0.2000after opening the trade at $0.20.
Fiscal Year 2021 Results
However, stocks trading within a range can often break out and that is one of the reasons why investors could do well to look into it a bit more closely. The last time any news emerged about Nightfood was back on October 14 this year when it announced its financial results for the financial year that had ended on June 30, 2021.
Nightfood managed to generate net revenues of as much as $701246 for the financial year which reflected a rise of as much as 190% from the previous year’s net revenues of only $241673. On the other hand, the company also had a successful retail pilot rollout across the United States during the financial year.
Nightfood managed complete the retail pilot rollout by introducing its ice cream to a well known worldwide hotel chain. On the other hand, the retail footprint of the brand was also boosted considerably during the financial year and as of June 30, 2021 it was available in as many as 1500 Walmart stores.
Key Quote
“I’m proud to share what we’ve accomplished during this transformational year,” commented Nightfood CEO Sean Folkson. “We view the growth in store count, gross sales and net revenue simply as preliminary validators of the importance of nighttime nutrition, which we believe is the next great consumer health category.”
Traders Note
NGTF stock is trading below the 200-Day and 20-Day Moving averages of $0.26 and $0.21 respectively. Moreover, the stock is trading below the 50-Day moving average of $0.23. The stock is up 130% so far this year.
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