If a stock records substantial gains on a Friday then it is likely that it is going to come into considerable focus among investors the following Monday. Such a state of affairs is as old as the markets and this morning it is quite likely that the PCS Edventures! Inc (OTCMKTS:PCSV) is going to come into focus after it clocked gains of as much as 34% for the day this past Friday. Prior to getting into the development that led to the remarkable rally in the stock, it could well be a good idea to take a look at the nature of the company’s business.
Trading Data
On Friday, PCSV stock moved up 33.82% to $0.0550 with more than 21K shares, compared to its average volume of 15k shares. The stock moved within a range of $0.0500 – 0.0550 after opening trading at $0.0500.
About PCS Edventures! Inc
The company is based out of Boise in Idaho and is involved in the designing and delivery of technology-powered products and services that are meant for the K-12 market. That particular market is engaged in helping users develop skills for the modern world.
However, that is not all. In addition to the K-12 STEM (Science, technology, and mathematics) education programs, PCS Edventures is also responsible for working on drone products.
PCS Edventures! Reports Audited Results for Fiscal Year 2022 Ending March 31, 2022
Back on Friday, the company announced its audited financial results for the fiscal year that had ended on March 31, 2022. It was quite clear that the investors were impressed by the numbers and that is what led to the enormous gains that were seen in the PCS Edventures stock. The revenues for the fiscal year came in at $4.07 million and that proved to be a significant jump from the $2.11 million in revenues that it had generated in the fiscal year 2021.
On the other hand, the net income for that period came in at $0.73 million and that was again considerably higher than the net income of $0.12 million in the previous fiscal year. PCS Edventures managed to bring in a cash flow of $0.26 million from operations and had cash to the tune of $0.58 million at the end of the fiscal year.
The president of the company Michael Bledsoe spoke about the company’s performance in the fiscal year as well. He noted that in the 2022 fiscal year, the company bounced back strongly from the troubles of the previous fiscal year when its operations had been quite badly by the coronavirus pandemic.
However, perhaps more importantly he noted that in the 2023 fiscal year so far, the company has managed to exceed the sort of sales that it had managed for the same period in the 2022 fiscal year. He went on to add that he believed that the trend is going to continue for the rest of the 2023 fiscal year.
The expectation of an even stronger performance in the next fiscal year may have come as a source of considerable excitement for many investors and may well have been a factor in the rally. At this point in time, it may be a good idea for investors to add the PCS Edventures stock to their watch lists and watch for further development over the coming days.
Key Quote
Michael Bledsoe, the President, commented, “Fiscal Year 2022 represented a sharp rebound back to profitability from the pandemic-gripped environment in Fiscal Year 2021. Our sales experience thus far in Fiscal Year 2023 is meaningfully exceeding the level we saw during the same period in Fiscal Year 2022, and we expect that trend to continue throughout the Fiscal Year 2023. Considering that we have been able to hold our margins steady in a very challenging supply-chain environment and the exciting opportunities immediately ahead of us, it is difficult not to expect a breakout year in the Fiscal Year 2023.”
Technical Data
PCSV stock is trading above the 20-Day and 50-Day Moving averages of $0.0513 and $0.0465 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0469.
