XpresSpa Group Inc (NASDAQ:XSPA) Stock Makes a Bullish Move On High Volume
On Monday, the travel health and wellness outfit XpresSpa Group Inc (NASDAQ:XSPA) was in sharp focus among investors after it announced that it had submitted its financial results for the period that ended on September 30, 2021 on form 10 Q.
Market Stats
On Monday, XSPA stock soared 11.68% at $1.53 with more than 11.28 million shares, compared to its average volume of 1.88 million shares. The stock has moved within a range of $1.3229 – 1.6550 after opening trading at 1.34.
Earnings Review
The numbers seemed to have led to optimism among investors as well and the stock soared by as much as 12% as a consequence. In this situation, it could be a good idea for investors to take a look at some of the highlights. The company delivered a record breaking quarter as it generated revenues of $26.8 million and that is the highest ever in its history.
However, more importantly, it was also the first ever quarter in which XpresSpa Group managed to generate a profit. The company generated net income of as much as $5.6 million for the quarter and hence, the rally in the stock is perhaps understandable.
In the first nine months of the year, the company brought in revenues of as much as $44.4 million and the profits generated for the year until date came in at $74000. XpresSpa Chief Executive Officer Doug Satzman also projected that the company was expected to end the year strongly.
Key Quote
Doug Satzman, XpresSpa Group CEO, stated, “We are extremely pleased with our record results and sincerely thank our entire team for making them possible. For the third quarter, we generated our highest ever revenue of $26.8 million as well as our first ever quarter of profitability, with net income of $5.6 million. In fact, XpresSpa Group has reached a year-to-date, nine-month consolidated revenue of $44.4 million and year-to-date net income of $74 thousand. We are projecting a strong end to 2021 as we approach the holiday season, which would make this a banner year for our Company.”
Traders Corner
XSPA stock is above the 20-Day and 50-Day Moving averages of $140 and $1.49 respectively. However, the stock is trading below the 200-Day moving average of $1.61. The stock is down 13% in the past 3-month.
