The all in one trading platform operating company Lion Group Holding Ltd (NASDAQ:LGHL) saw its stock take a significant beating on Tuesday as it declined by as much as 14% for the day. The company came into focus on Tuesday after it announced its financial results for the full fiscal year that ended on December 31, 2021.
Trading Data
On Tuesday, LGHL stock fell 14.02% to $1.41 with more than 9.62 million shares, compared to its average volume of 613K shares. The stock moved within a range of $1.0200 – 1.7350 after opening trade at $1.71.
Lion Announces Unaudited Full Year 2021 Financial Results
In light of the fall in the stock price, it may be a good idea to take a closer look at some of the highlights from the financial results. The company managed to bring in revenues to the tune of as much as $27.1 million , which worked out to a rise of as much as 164.5% from the $10.2 million in revenues it had generated in the previous year.
In addition to that, the company also swung into profits as it managed to bring in net income to the tune of $22782 and that was a major turnaround considering the fact that in the prior year it had suffered a loss of as much as $2.6 million. On the other hand, the number of revenue generating clients at the company rose to 5261 and that reflected a rise of as much as 5% from the 5010 clients it had the previous year.
Key Quote
Mr. Chunning (Wilson) Wang, CEO of Lion, commented: “We concluded the year of 2021 on a strong note, as revenue doubled and user numbers grew steadily. Our entire team worked tirelessly to deliver monumental results in 2021 and remain competitive in the industry, despite challenges attributable to the ongoing pandemic and capricious regulatory environment. Non-GAAP net income attributable to LGHL increased by nearly sevenfold, largely attributable to our diverse products and high-quality services.”
Technical Data
LGHL stock is trading below the 20-Day and 200-Day Moving averages of $1.50 and $1.58 respectively. However, the stock is trading above the 50-Day moving average of $1.20.
