As life continues to get back to normal following the chaos of the coronavirus pandemic, it is a good time for investors to look into sectors that may have been impacted the most. One of those sectors is the food services industry. As more and more people flock to the restaurants again, it may be time for investors to possibly look into some stocks from the sector.
One of the companies that may be worth looking into at this point in time is Noble Roman’s Inc (OTCMKTS:NROM). This article is going to give you a good look into the nature of the company’s business and also into the latest developments that you ought to look into before making an informed decision about the stock.
Trading Data
On Wednesday, NROM stock ended flat at $0.1902 with more than 19K shares, compared to its average volume of 98K shares. The stock moved within a range of $0.1902 – 0.1902 after opening trade at $0.1902.
About The Company
Noble Roman’s Inc is in the business of servicing and selling franchises. In addition to that, Noble Roman’s is also involved in licensing and operating food service locations for non-traditional food service entities and also for standalone restaurants.
Some of the trade names under which the company operates its food service locations include Noble Roman’s Craft Pizza & Pub, Tuscano’s Italian Style Subs and Noble Roman’s Take-N-Bake. The company operated as many as 3069 franchises and licensed outlets as of December 31, 2021. The company had been established back in 1972 and is based out of Indianapolis in Indiana.
Noble Roman’s Announces 2nd Quarter 2022 Financial Results
The company was in the news yesterday after it announced its financial results for the second fiscal quarter of 2022 and it may be a good time for investors to take a look at the highlights. In the quarter that had ended on June 30, 2022, the company had managed to bring in revenues to the tune of as much as $3.8 million and that reflected an improvement on the $3.6 million in the year ago period. On the other hand, the net losses were reduced to $50000 for the second quarter from $85,000 in the prior year period.
In this context, it may be useful to point out that the company owned CPP revenues for the second quarter jumped to $2.5 million from $2.3 million in the prior year period. However, the franchise revenues earned by Noble Roman’s dropped slightly to $1.1 million from $1.2 million in the same quarter in 2021.
In the press release put out by Noble Roman’s yesterday, the company noted that the effects of the coronavirus pandemic still weighed heavily. It continued to have a major negative impact on cost structures, supply chains and labor. It had an effect on both franchise as well as CPP revenues.
The negative impact of these factors was somewhat offset by the efforts that had been put in by the personnel at the company owned CPP restaurants. In the six month period ended June 30, 2022, the company managed to generate revenues of $7.2 million and that was higher than the $6.9 million in revenues in the prior year period. It remains to be seen if the Noble Roman’s stock comes into focus today or not.
Technical Data
NROM stock is trading below the 20-Day and 50-Day Moving averages of $0.19 and $0.20 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.34 . The company has a total market capitalization of $4.18 million. The stock is down 2% over the past month.
