Alkaline Water Company Inc (NASDAQ:WTER) Stock Falls After Quarterly Earnings
The biggest independent alkaline water firm in the United States, The Alkaline Water Company Inc (NASDAQ:WTER) was in focus yesterday after it announced its financial results for the second fiscal quarter that had ended on September 30, 2021.
Market Stats
On Tuesday, WTER stock closed lower by 4.20% at $1.61 with more than 1.71 million shares, compared to its average volume of 1.59 million shares. The stock has moved within a range of $1.6000 – 1.6800 after opening the trade at $1.67.
Latest News
The numbers did not seem to thrill investors and The Alkaline Water Company stock slumped by as much as 7% yesterday. In this context, it might be a good idea for investors to take a closer look at the highlights and figure out if the fall in the stock price could be an opportunity or not.
The company announced that it had generated revenues of as much as $15.25 million and that proved to be a record for The Alkaline Water Company. In addition to that, the company also handed in its Form 10-Q with regards to the financial results to the United States Securities and Exchange Commission yesterday.
While the highest revenue figure in the company’s history is certainly remarkable it should be noted that it also represents growth of more than 50% on a year on year basis. In addition to that, it was the 34th quarter on the trot in which The Alkaline Water Company managed to bring in record sales.
Traders Corner
WTER stock is trading above the 20-Day and 50-Day Moving averages of $1.65 and $1.64 respectively. However, the stock is trading above the 200-Day moving average of $1.45. The stock is up 54% in the past 6-month.
