Investors could do well to take a closer look at the financial results that were announced by the company Adaptive Ad Systems Inc (OTCMKTS:AATV) this past Friday.
Market Action
On Friday, AATV stock fell 1% to $0.45 with 2K shares, compared to its average volume of 2.5K shares. The stock moved within a range of $0.4500 – 0.4500 after opening trade at $0.45.
Earnings Recap
The company, which is involved in the digital advertisement insertion space, announced strong financial results and continued to generate growth in both net profits as well as revenues. In the first quarter that ended on March 31, 2022 Adaptive Ad Systems managed to bring in revenues of $1,758,755 and that was considerably higher than the revenues of $1,477,817 that it had generated in the prior year period. It reflected year on year growth of as much as 19%.
On the other hand, the net profits generated by Adaptive Ad Systems during the quarter stood at $447,158 and that reflected considerable growth on a year on year basis. In the prior year period, the company had generated net profit of $244,038 and hence, the latest net profit figure reflects year on year growth of as much as 83%.
In light of such a strong performance, it is perhaps likely that the stock is going to come into focus among investors today. It may be a good idea to keep an eye on it.
Traders Note
AATV stock is trading below the 20-Day and 50-Day Moving averages of $0.49 and $0.52 respectively. Moreover, the stock is trading is the neutral zone with RSI stands at 52.
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