Shares of Aberdeen International Inc (OTCMKTS:AABVF) have been trading within a narrow range over the past few sessions. The stock is down 10% in a month.
Trading Data
On Tuesday, AABVF stock ended flat at $0.0985 with more than 10k shares traded, compared to its average volume of 9.6k shares. The stock has moved within a range of $0.0985 – 0.0985 after opening trading at $0.0985.
Reports Q3 Results
Global resource investment company and merchant bank focused company, Aberdeen International Inc (OTCMKTS:AABVF) on December 14, 2021, announced releasing financial results for quarter three ending October 31, 2021.
For the three months ending October 31, 2021, the company witnessed a net loss of $6.7 million from revenues of $3.8 million. On the other hand, for the nine months ending in October, the company had a net income of $7.4 million on total revenue of $11.8 million.
This shows a 71% increase in net income and a 101% surge in total revenues over the same time in 2020. The firm’s investment portfolio increase was due to many contributions from clean energy investments in ammonia production technologies and novel hydrogen.
It also realized gains on divestiture of select non-core positions, despite volatility affecting its quarter-over-quarter book value.
Chris Younger, CEO of Aberdeen International said that the portfolio is well-positioned for capitalizing on the continued transition towards clean energy solutions. Younger said that the team has done excellent work in driving focused results on its core investments. The CEO believes that robust core positions, like AES, demonstrate promise as technological capabilities are being proven and tested.
Younger is optimistic on the long-term strategy of investing as well as building companies accelerating the transition to Net-Zero. Aberdeen is focusing on transitioning to an economy driven by clean energy, looking for attractive investment opportunities as well as strategic partners to drive bigger portfolio value.
