Global healthcare network operator HealthLynked Corp (OTCMKTS:HLYK) was in the news this past Friday after it announced its financial results for the fourth fiscal quarter and the 2021 fiscal year, both of which ended on December 31, 2021.
Trading Data
On Friday, HLYK stock fell 1.63% to $0.1850 with more than 606K shares, compared to its average Friday of 328K shares. The stock moved within a range of $0.1802 – 0.1949 after opening trading at $0.1948.
HealthLynked Reports Annual Revenue Growth of 50% to $9.2 Million
The numbers did not seem to impress investors much and the stock fell by as much as 2% amidst a selloff. In this situation, it may be a good time for investors to perhaps take a look at some of the key highlights. HealthLynked managed to bring in revenues to the tune of $9.2 million in the fiscal year of 2021 and that reflected a year on year rise of 50% from the $6.1 million in revenues that it had generated in 2020.
In this situation, it is also necessary to note that the company’s MSO/ACO revenues came in at $2.7 million and that reflected a year on year rise of 125%. On the other hand, the value of net equity for the period stood at $7.2 million and that worked out to a year on year rise of 434% from the $1.2 million in 2020. It will be interesting to see if the stock can make a recovery this week or not.
Key Quote
Dr. Michael Dent, HealthLynked’s Chairman and Chief Executive Officer, commented, “HealthLynked finished 2021 with a record 50% revenue growth, capping off another milestone year for the company. We are proud of our accomplishments throughout 2021 as we completed several key product announcements and continued to make investments in our existing digital product portfolio. These accomplishments, combined with our strong financial performance, provides us confidence in our ability to continue to reduce healthcare costs and improve patient outcomes.”
Technical Data
HLYK stock is trading below the 20-Day and 50-Day Moving averages of $0.20 and $0.23 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.41.
