In the past month, the Hammer Fiber Optics (OTCMKTS:HMMR) stock has been in the middle of a steady selloff and has declined by as much as 10% during that period. In light of such a decline, it may be the right time for investors to consider taking a closer look at the stock and figure out if the decline could prove to be an opportunity to get into the Hammer Fiber Optics stock or not.
There has been no news about the company in recent days but back on December 15, 2021, Hammer Fiber Optics had been in the news after the company made an announcement with regards to its financial results for the first fiscal quarter that had ended on October 31, 2021.
Trading Data
On Monday, HMMR stock gained 0.32% to $0.85 with more than 14K shares, compared to its average volume of 32k shares. The stock has moved within a range of $0.8153 – 0.8501 after opening trade at $0.8250.
Recent Development
In the first fiscal quarter, the company managed to bring in revenues to the tune of as much as $626,355 and that reflected a significant year on year rise from the $484,842 it had generated in the prior year period. It reflects a rise of 29.59% year on year. The main reason why Hammer Fiber Optic managed to record such growth in revenues was due to the significant growth that the company had generated in the OTT or Over the Top segment.
Technical Data
HMMR stock is trading below the 20-Day and 50-Day Moving averages of $0.91 and $1.02 respectively. However, the stock is trading above the 200-Day moving average of $0.77.
