NutraNomics Inc (OTCMKTS:NNRX) Stock On Watchlist After Earnings Update

NutraNomics Inc (OTCMKTS:NNRX), which is one of the up and coming entities in organic plant-based nutrition space, was in the news yesterday after it made a major new announcement. The company noted that its primary operating subsidiary unit The Plant had managed to record a 109% rise in year on year sales bookings in the nine month period that had ended on September 30, 2022.

Trading Data

On Thursday, NNRX stock ended flat at $0.0002 with more than 281.49 million shares traded, compared to volume of 99 million shares. The stock moved within a range of $0.0001 – 0.0002 after opening trading at $0.0002.

NutraNomics Announces 109% Y/Y Growth for the Nine Months Ended September 30, 2022

It goes without saying that it was a major new announcement from the company and one that is expected to bring a degree of optimism among investors. The company announced that in the first nine months of the year The Plant had managed to sales bookings to the tune of $3.385 million. It should be noted that the figure is unaudited.

However, perhaps more importantly NutraNomics noted that as per the trends that it had witnessed in its sales bookings, there would be a rise in sales bookings through the end of 2022 and it would continue into 2023 as well. The NutraNomics President and Chief Executive Officer Geoff Bazegian noted that the uptick in sales bookings was an indication that the marketing approach and business strategy adopted by the compay was working.

Key Quote

“We are witnessing definitive, results-based evidence that our business strategy and market approach is working, and our sales team is doing an excellent job executing,” remarked Geoff Bazegian, NutraNomics’ President and CRO. “Observing the sales data and pending contract manufacturing opportunities currently under consideration, we’re looking forward to furthering that execution into the end of the year and beyond.”

Technical Data  

NNRX 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 $0.0003.