Anyone who is currently looking into stocks which may have recorded significant gains over the course of the past week is unlikely to miss the Rayont Inc (OTCMKTS:RAYT) stock. It has been one of the biggest gainers in the market during the period and managed to clock gains of a massive 90%.
Trading Data
On Thursday, RAYT stock fell 2.05% to $1.91 with more than 150 shares, compared to its average volume of 165 shares. The stock moved within a range of $1.9100 – 1.9100 after opening trade at $1.91.
Rayont Inc- RAYT- Reports 10-Q for the Six-Month Ending December 31, 2021, Financial Results.
In light of such enormous gains, it may be a good time to perhaps take a closer look into it. Rayont is an international entity that is involved in the manufacturing and distribution of alternative medicinal products and services. At is happens, the company was in the news yesterday after it announced its financial results for the six month period that had ended on December 31, 2021.
In that period, the company managed to bring in as much as $1,361,887 in the form of revenues and that proved to be a significantly higher figure than the $1,196,240 that it had generated in the prior year period. On the other hand, the gross profits for the period stood at $690466 and that was again a higher figure than the $524,790 that Rayont had managed to bring in during the same period in 2021.
Key Quote
Ms. Marshini Moodley, Director and CFO, said, “We recorded improvements across most aspects of the business for the period ending December 31, 2021 compared to same period last year. The key highlight for the last three months is moving into “a state of the art manufacturing facility at 32 French Avenue , Brendale in Brisbane Australia “ and our ability to maintain the quarterly revenues despite downtime in production.”
Technical Data
RAYT stock is trading above the 10-Day and 20-Day Moving averages of $1.48 and $1.58 respectively. However, the stock is below the 200-Day moving average of $2.54.
