ARC Group Worldwide Inc. (OTCMKTS:ARCW) Stock Moves Up After Quarterly Earnings

ARC Group Worldwide Inc. (OTCMKTS:ARCW) was up 7% on Monday after the advanced manufacturing providers announced their financial results for fiscal 2021 ending June 30, 2021.

Market Stats

On Monday, ARCW stock surged 7.30% to $1.25 with more than 33k, compared to its average volume of 4.9k shares. The stock has moved within a range of $1.1600 – 1.2500 after opening trading at $1.17.

Reports Solid Performance with Fiscal Year Results

The company reported net sales of $62.2 million, representing a YoY growth of 28.1%, while gross profit was up 106.8% YoY to $14.1 million. The YoY growth in net sales resulted from the strength in the firearms and defense sector. Notably, over the past year, there was considerable improvement in turnkey assembly components which boosted the company’s revenue position. However, the sales increase offset the sales increase by slower than anticipated COVID-19 recoveries in the medical, aerospace, and automotive sectors.

The company had an EBITDA of $12.3 million, representing a YoY growth of 163%, while adjusted EBITDA was $12.5 million, up 163% YoY. CEO Jed Rust said that they are delighted that the company enhanced its position over the past years as a plastic and metal injection molding provider. So, in the coming weeks, investors should keep an eye on ARCW.

Traders Corner

ARCW stock is trading above the 20-Day and 50-Day Moving averages of $1.09 and $0.99 respectively. Key pivot supports are 1.1000, 1.1300, 1.1900 and resistances are 1.2800, 1.3100, 1.3700.