Health Choices Management Corp (OTCMKTS:HCMC ) is moving in a range after announcing financial results for the first quarter ending March 31, 2022. Net sales during the quarter were $5.05 million, improving 46% YoY from $3.47 million in Q1 2021.
Trading Data
On Monday, HCMC stock ended flat at $0.0002 with more than 205.78 million shares, compared to volume of 402.45 million shares. The stock moved within a range of $0.0001 – 0.0002 after opening trade at $0.0002.
Earnings Recap
The gross margin from operations was up $0.5 million to $1.97 million for the period compared to $1.49 million a year ago. Net loss from operations was $1.32 million compared to $0.7 million in Q1 2021, with more than $0.7 million in non-recurring expenses incurred in the three months ending March 31, 2022.
Jeffrey Holman, HCMC’s CEO, said that the company’s Q1 2022 operational and financial performance established a strong start to the year with considerable progress on strategic priorities that position the business for another top-line growth year. HCMC is focused on delivering sustainable enhancement in profitability and driving growth. The company will continue making more investments positioning it to expand market share and leverage on growth prospects. So, HCMC is worth watching in the coming weeks.
Key Quote
Jeffrey Holman, Chairman and Chief Executive Officer of HCMC, said, “Our first quarter 2022 financial and operational performance established a very strong start to the year, with meaningful progress on our strategic priorities which we believe positions us well for another year of top-line growth.”
Technical Data
HCMC stock is trading below the 20-Day and 50-Day Moving averages of $0.0002 and $0.0002 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0004.
