Leading lifestyle nutritional supplements and sports nutrition products company MusclePharm Corporation (OTCMKTS:MSLP) announced its financial results for the first fiscal quarter that had concluded on March 31, 2022.
Market Action
On Monday, MSLP stock ended flat at $0.2850 with 80 shares, compared to its average volume of 31K shares. The stock moved within a range of $0.2850 – 0.2850 after opening trade at $0.2850.
Earnings Recap
While it is true that the MusclePharm stock remained in a range on Monday, it may still be a good idea to take a closer look at the company’s financial performance and then figure out the merits of the stock. In the first fiscal quarter, the company managed to bring in revenues to the tune of as much as $13.1 million and that worked out to a substantial improvement on the $10 million in revenues that it had generated in the previous quarter.
It was also the second straight quarter in which MusclePharm had managed to boost its margins. The company’s Chief Executive Officer and Chairman of the Board, Ryan Drexler noted that although MusclePharm suffered due to higher freight and protein prices, it managed to almost double its margins on a sequential basis. He went on to add that the year started off on a strong note for MusclePharm and through the rest of the year the company was going to be focussed on reducing costs.
Traders Note
MSLP stock is trading below the 20-Day and 50-Day Moving averages of $0.28 and $0.28 respectively. Moreover, the stock is trading is the oversold zone with RSI stands at 50.
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