IDGlobal Corp (OTCMKTS:IDGC) Stock Continues to Trade in a Narrow Range

March 3, 2022March 3, 2022 Ash K $IDGC, $IDGC news, $IDGC stock, $IDGlobal Corp (OTCMKTS:IDGC), $OTCMKTS:IDGC

IDGlobal Corp (OTCMKTS:IDGC) is moving in a range after announcing its annual report details that include its focus Noveda Technology Inc. affiliate, an energy monitoring entity that combines consumption and data generation to offer actionable real-time intelligence for utilities, users, owners, and operators.

Market Stats

On Wednesday, IDGC stock ended flat at $0.0003 with 216.03 million shares, compared to its average volume of 99.06 million shares. The stock moved within a range of $0.0002 – 0.0004 after opening trading at $0.0003.

IDGlobal Corp. Announces Details of Annual Report Including Noveda Gross Profit Increase of 3256%

Customers all over the world benefit from Noveda’s technology, which helps them save water and energy, improve the efficiency of sustainable energy systems, and lower their carbon footprint. The implementation is involved in the retail/commercial, industrial, education, government, and utility sectors.

CEO Sebastien C. DuFort indicated that their strategy of focusing on becoming a true play Software as a Service (SaaS) company made significant progress in the previous fiscal year. The company’s sales climbed by 214% to $471,277 from $150,007, its gross profit grew by 3,256% to $356,949 from $10,637 , and its gross margin increased to 76 % in 2021 from 7% the previous year. so in the coming weeks, IDGC is worth watching.

Key Quote

The Company CEO, Sebastien C. DuFort stated, “The Company’s strategy to focus on being a pure play Software as a Service (SaaS) provider has made great strides in the last fiscal year. The Company had increased revenue growth of 214% from $150,007 to $471,277, gross profit increased 3,256% from $10,637 to $356,949, and gross profit percentage increased from 7% in 2020 to 76% in 2021 (Most of our cost of services with the new model are fixed costs.)”

Traders Corner

IDGC stock is trading below the 20-Day and 50-Day Moving averages of $0.0003 and $0.0003 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0008.