AMMO Inc (NASDAQ:POWW) is a vertically integrated company and is one of the leading players in the industry involved with the production of high performance ammunition as well as components. The company was in focus yesterday after it announced its financial results for the third fiscal quarter of 2022.
Trading Data
On Monday, POWW stock fell 2.93% to $4.64 with more than 3.08 million shares, compared to its average volume of 2.18 million shares. The stock moved within a range of $4.5909 – 4.9400 after opening trade at $4.94.
AMMO, Inc. Reports Financial Results for Third Quarter Fiscal 2022
However, it did not lead to any major move in the stock, which remained within a range. Before the start of another trading day, it may be a good idea for investors to take a closer look at the financial results and then make up their minds about the AMMO stock.
The net revenues for the quarter proved to be a new record as AMMO managed to bring in revenues of as much as $64.7 million. IN this regard, it ought to be noted that the company managed to generate marketplace revenues to the tune of as much as $17.6 million.
On the other hand, the diluted earnings per share came in at $0.07 and that was higher than the $0.04 that had been generated in the prior year period. It is now going to be interesting to see if the AMMO stock does get any traction in the coming days.
Key Quote
“We delivered another outstanding quarter reflecting strong execution by our team on key growth initiatives around innovation, expanding capacity, and leveraging the incredible power of our Marketplace platform,” said Fred Wagenhals, AMMO’s Chairman and Chief Executive Officer.
Technical Data
POWW stock is trading below the 20-Day and 50-Day Moving averages of $4.64 and $5.04 respectively. However, the stock is trading below the 200-Day moving average of $6.46.
