The electronic cigarettes industry has grown at a significant pace over the past few years and investors are increasingly looking into the possibility of investing in companies involved in the sector. One company you could consider looking into is that of VPR Brands LP (OTCMKTS:VPRB), which not only holds patents for electric cigarettes but is also a leading supplier of the same.
On Tuesday, VPRB stock ended higher by 12.16% to $0.0500 with more than 102k shares, compared to its average volume of 107K shares. The stock has moved within a range of $0.0485 – 0.0525 after opening trade at $0.0485.
Yesterday, the company was in the news after it announced its financial results for the third fiscal quarter that had ended on September 30, 2021. Kevin Frija, who is the Chief Executive Officer of the company, noted that the sales momentum has continued to grow and VPR Brands was on course to record its best year in history.
Hence, it was no surprise that the VPR Brands stock moved strongly on Tuesday and ended up with gains of as much as 12% as a consequence. The company reported that it had managed to bring in gross revenues of as much as $1,651,215 for the quarter, which represented a year on year rise of as much as 66% from the revenues of $993,509 in the year ago period. Additionally, the net losses were also reduced to $48,415 from $102,652 in the prior year period.
VPRB stock is trading above the 20-Day and 50-Day Moving averages of $0.0464 and $0.0468 respectively. However, the stock is trading below the 200-Day moving average of $0.0562. The stock is up 19% over the past month.