It is often noticed that at the beginning of a new trading week on Monday, investors generally look into those stocks which may have clocked significant gains in the previous week. One of the stocks that may come on to the radars of investors this morning is the Technical Communications Corporation (OTCMKTS:TCCO) stock, which had managed to clock gains of as much as 10% over the course of the past week.
Trading Data
On Friday, TCCO stock ended flat at $1.10 with more than 1K shares, compared to its average volume of 1.2K shares. The stock moved within a range of $1.1000 – 1.1000 after opening trading at $1.10.
Technical Communications Corporation Reports Results for the Three and Nine Months Ended June 25, 2022
In this situation, it may be a good time for investors to take a look at some of the recent developments in order to make their minds up about the Technical Communications Corporation stock. This past Friday, the company was in focus after it announced its financial results for the three and nine month periods, both of which had ended on June 25, 2022.
This morning, it might be the right time for investors to take a look at some of the highlights from the financial results. In the quarter that ended on June 25, 2022 the company managed to bring in revenues of $146000 but suffered a loss to the tune of as much as $842,000, which worked out to a loss of $0.45 a share.
In the prior year quarter that had ended on June 26, 2021, the company had suffered a net loss of $492,000 against revenues of $426,000. The losses worked out to loss per share of $0.27. As one can see, the company’s losses widened from one quarter to the other but investors did not seem to be particularly fazed about it.
On the other hand, in the nine month period that ended on the same day, Technical Communications Corporation suffered a net loss to the tune of $1,978,000, which worked out to net loss per share of $1.07 and the revenues generated for the period came in at $1,135,000. In the same period last year that ended on June 26, 2021, the company recorded a net loss of $1,161,000 against revenues of $1,209,000 and the net loss worked out to net loss per share of $0.63. The Chief Executive Officer and President of Technical Communications Corporation, Carl H Guild Jr spoke about the company’s performance as well. He noted that the company continued to suffer from the aftereffects of the coronavirus pandemic.
Most of the customers that the company serves have not been particularly keen about face to face meetings or demonstrations, which is why it has been difficult forTechnical Communications Corporation to drive sales. However, Guild added that he was now seeing that opportunities were opening up as the world seemed to have returned to a degree of normality.
He noted that he remained hopeful that the company was going to be able to make a recovery in the near term. At this point in time, it may be a good idea for investors to keep an eye on the Technical Communications Corporation stock and watch out for the green shoots that may appear in the business.
Technical Data
TCCO stock is trading below the 20-Day and 50-Day Moving averages of $1.19 and $1.31 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.71 . The company has a total market capitalization of $2.20 million. The stock is down 12% over the past month.
