Electronic signature supplier iSign Solutions Inc (OTCMKTS:ISGN), which is also involved in developing other software solutions which are meant for meant managing document related transactions, saw its stock dive by as much as 9% in the past week.
On Wednesday, ISGN stock ended flat at $1.45 with 1 share, compared to its average volume of 587 shares. The stock moved within a range of $1.4500 – 1.4500 after opening trade at $1.45.
iSign Reports Fiscal 2021 Results
However, the company was in the news yesterday and it may be a good time for investors to perhaps figure out if a rebound may be on the horizon. Yesterday, the company announced that it had managed to clock revenues to the tune of as much as $1,078,000 in the fiscal year that had ended on December 31, 2021. The reflected a rise of as much as 12% from the $966,000 that it had generated in the prior year period.
Phillip Sassower, who is the Chief Executive Officer of the company, announced that the upward move in the company’s revenues in 2021 was a reflection of iSign Solutions’ higher business activitiy in Europe. While the rise in revenues was certainly a major development for the company, it did not lead to any boost for the stock. It is now going to be interesting to see if the iSign Solutions stock can actually recover today and make up some of the losses from the past week.
“Our revenue continued its upward trend in 2021 reflecting increased activity in Europe, both in transaction volume and engineering services,” said Philip Sassower, co-chairman and chief executive officer for iSIGN. “The number of transactions has continued to increase in the first few months of 2022, and we expect to see further acceleration in the second half of the year once the previously announced qualified electronic signature project is paired with virtual security certificate capabilities. We continue our careful expense management, which resulted in a dramatic decrease in our loss from operations. We remain optimistic about the company’s prospects for continued performance improvements in the quarters and years to come.”
ISGN stock is trading below the 20-Day and 50-Day Moving averages of $1.52 and $1.65 respectively. However, the stock is trading above the 200-Day moving average of $1.36.