Perpetual Industries Inc (OTCMKTS:PRPI) Stock Gains Momentum After Earnings

In the past week, there was considerable attention on Perpetual Industries Inc (OTCMKTS:PRPI) and that was apparent in the price action in the stock, which clocked gains of as much as 13% during the period.

Market Action

On Friday, PRPI stock ended flat at $0.15 with 10K share, compared to its average volume of 8.4K shares. The stock moved within a range of $0.1500 – 0.1500 after opening trade at $0.15.

Perpetual Industries Reports Outstanding 2021 Annual Financial Results

In this situation, it may be the right time for investors to consider taking a look at the development from back on April 8. The developer and researcher into energy efficient technologies was in the news at the time after it announced its financial results for the fiscal year that ended on December 31, 2021. It may be a good time to take a look at some of the highlights.

The company managed to bring in gross revenues to the tune of $8,445,394 in the 2021 fiscal year and that proved to be a major turnaround from the $0 in revenues in the previous year. On the other hand, the gross profits came in at $3,323,399 and that was again a favourable return after generating no gross profits at all in the 2020 fiscal year. The operating income in 2021 came in at $4793 and it was a big swing from the $838,810 worth of losses in 2020. It may be a good time to track the Perpetual Industries stock.

Key Quote

“Together, our leadership team and staff have made great strides to accelerate this unprecedented growth in 2021, the most significant being the acquisition of Worldwide Auctioneers as a wholly owned subsidiary,” said Brent Bedford, Perpetual’s chief executive officer.

Traders Note

CCAJ stock is trading above the 20-Day and 50-Day Moving averages of $0.0062 and $0.0053 respectively. Moreover, the stock is trading is the oversold zone with RSI stands at 53.

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