Anyone who is currently looking into stocks which may have made significant gains in recent days could do well to take a look at the Direct Communication Solutions Inc (OTCMKTS:DCSX) stock. The stock has been in the middle of a remarkable rally in the past week and during the period, it managed to clock gains of as much as 83%.
Trading Data
On Wednesday, DCSX stock gained 2% to $0.64 with more than 22K shares, compared to its average volume of 4.9K shares. The stock moved within a range of $0.6302 – 0.6695 after opening trade at $0.6424.
DCS Reports Strong Q4 Revenues and Year Ending Backlog
As a matter of fact, the company was in fact in the news yesterday after it announced its financial results for the fourth fiscal quarter. Direct Communication Solutions announced that it had managed to bring in revenues to the tune of $5.68 million in the quarter and that was considerably more than the $2.83 million that it had managed to generate in Q3 2021.
That represented a sequential rise of as much as 100% and such a performance may result in more attention from investors in the coming days.
On the other hand, the revenue figure reflected a year on year rise of as much as 29%. In the fourth quarter of 2021, the backlog in the company’s books soared to as much as $15.94 million and that was again, significantly higher than the backlog of only $1.67 million back in the fourth quarter of 2020.
Key Quote
“The ability to optimize connectivity is vital to the success of next-gen IoT innovation. With Telenor, we are one step ahead at providing optimized, dependable, and established solutions to our customers.” Says Chris Bursey, CEO of DCS, “We are excited about our accomplishments in a challenging environment in 2021 and our growth prospects going forward. Uplisting to Nasdaq is another potential step in our evolution.”
Technical Data
DCSX stock is below the 20-Day and 50-Day Moving averages of $0.42 and $0.41 respectively. The stock is trading in the oversold zone with the RSI at 78.
