Diversified holding company BitNile Holdings Inc (NYSEAMERICAN:NILE) started the week on a strong footing in the markets as its stock ended the day with gains of as much as 5%. The rally in the stock may bring it into focus among investors today and it may be a good time to take a look at the development with regard to the company from yesterday.
Trading Data
On Monday, NILE stock went up 5.26% to $0.9576 with more than 2.06 million shares traded, compared to its average volume of 3.02 million shares. The stock moved within a range of $0.9300 – 1.0700 after opening trading at $0.93.
Key Details
On Monday, the company announced its unaudited preliminary revenues for the year 2021 and in addition to that, it also provided projections for 2022. For 2021, BitNile expected preliminary unaudited revenues for 2021 to be $52 million and that reflected a year on year rise to the tune of as much as 119% from the revenues of $23.9 million in 2020.
It goes without saying that the announcement was a positive one and eventually led to considerable positivity with regards to the BitNile Holdings stock. In addition to that, the company also announced that it expected its revenues for the year 2022 to be around $155 million. If that happens, then it would represent a year on year rise of as much as 197%. It remains to be seen if the BitNile stock can manage to add to its gains today.
Key Quote
Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “We are encouraged by the Company’s momentum across its business segments, which leads us to expect significant revenue growth in 2022. We have several key initiatives that we expect will drive nearly 200% revenue growth from 2021 to 2022
Technical Data
NILE stock is trading below the 20-Day and 50-Day Moving averages of $0.98 and $1.26 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.17.
