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China HGS Real Estate Inc. (NASDAQ:HGSH) Stock Gains Momentum: How to Trade Now?

China HGS Real Estate Inc. (NASDAQ:HGSH) jumped 14% premarket in no news. Recently, the company announced its Q2 2021 financial results for the period ended March 31, 2021. The company reported total revenue of $18.3 million, reflecting an 867.2% YoY increase from $1.9 million in Q4 2020 because of less floor space sold in the current quarter.

In the second quarter, net income was around $2.2 million, a significant increase for a net loss of around $0.6 million in the same quarter last year. Diluted and basic net loss per share attributable to stockholders during the quarter was $0.1 in Q2 2021 compared to $0.03 per share in Q2 2020.

The company is a top real estate developer headquartered in Hanzhong City in China, and it is a national grade I real estate certification, holder. China HGS real estate developed sub-high and high-rise residential buildings and apartment complexes in Tier 3 and Tier 4 cities in China. So in the coming days, HGSH is a stock to watch.

Market Reaction:

On Thursday, HGSH stock moved up 3.32% at $2.18 with more than 1.96 million shares, compared to its average volume of 507k shares. The stock had moved within a range of $1.9100 – 2.2600 after opening the trade at $2.06. Over the past 52-week, the stock has been trading within a range of $0.8500 – 5.4000.

Published by Jon Williams

Jon graduated from the University of Michigan with a degree in finance. He is an avid investor and enjoys reporting on the markets. When he is not in front of a computer he enjoys playing golf and watching basketball.

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