Skylight Health Group Inc (NASDAQ:SLHG) Stock Attempts To Bounce Back After The Fall

On Wednesday, the investors in Skylight Health Group Inc (NASDAQ:SLHG) must have been somewhat relieved after the stock managed to make a recovery and ended the day with gains of 2%.

Market Action

On Wednesday, SLHG stock  jumped 2.16% to $1.42 with more than 84k shares, compared to its average volume of 316k shares. The stock has moved within a range of $1.4001 – 1.5000 after opening trade at $1.50.

Skylight Health Announces Series A Preferred Stock Cash Dividend

However, at the same time, it ought to be noted that despite the recovery yesterday, the stock is still down by as much as 8% over the past week. The company is involved in the primary care management space in the United States and on Wednesday it emerged that its board of directors had approved a dividend. Skylight Health Group noted that it is going to pay dividends on the 9.25% Series A Cumulative Redeemable Perpetual Preferred Shares in the company.

News about dividends almost always come as a boost for a company’s stock and that is what happened with the Skylight Health Group stock on Wednesday. As per the announcement from the company, it is going to pay dividends to the tune of $0.1927 a share for each Series A Preferred Shares.

The payment is going to be sent out on January 20 next year to all Series A Preferred shareholders of record as on December 31, 2021. Investors could do well to keep an eye on the Skylight Health stock at this point.

Traders Note

SLHG stock is trading below the 20-Day and 50-Day Moving averages of $1.56 and $2.16 respectively. Moreover, the stock is trading is the oversold zone with RSI stands at 39. The stock is down 16% over the past month.

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