Business to business market analysis, services and technologies firm Beyond Commerce Inc (OTCMKTS:BYOC) was in focus yesterday after it announced its financial results for the first fiscal quarter that had ended on March 31, 2022.
Trading Data
On Monday, BYOC stock slid 16.67% to $0.0003 with more than 13.72 million shares, compared to its average volume of 64.20 million shares. The stock moved within a range of $0.0002 – 0.0003 after opening trade at $0.0003.
Beyond Commerce Reports First Quarter 2022 Results and Filed Pre-14C to Align Company Name and Symbol with Re-Positioning to Electric Vehicles
However, it seems that investors were not particularly happy with the company’s performance and stock promptly fell like a stone to end the day with a decline of as much as 17%. In light of this situation, it could be a good move to take a closer look at some of the highlights from the company’s financial results.
Beyond Commerce managed to bring in revenues of $1 million for the quarter and that worked out to a year on year rise of as much as 9%. The gross profits for the quarter stood at $0.7 million and that actually reflected a year on year decline of 1%.
However, the gross margins hit 66% and that worked out to a rise of 71.7%. Last but certainly not the least, the operating losses for the quarter stood at $0.6 million and that reflected a year on year rise of 9%. It remains to be seen if the stock can make any kind of recover in the coming days.
Technical Data
BYOC stock is below the 20-Day and 50-Day Moving averages of $0.0002 and $0.0003 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0006.
