Cyberlux Corporation (OTCMKTS:CYBL) Stock Continues to Trend Lower: Down 12% in a Week
The advanced technology and LED lighting company Cyberlux Corporation (OTCMKTS:CYBL) saw its stock continue on its downward spiral on Tuesday. The Cyberlux stock declined by as much as 5% yesterday and that took its decline for the past week to as much as 12%.
Market Stats
On Tuesday, CYBL stock moved down 5.10% to $0.0390 with more than 79.79 million shares, compared to its average volume of 128.09 million shares. The stock has moved within a range of $0.0385 – 0.0433 after opening trading at $0.0426.
Earnings Review
As it happens, the company was in the news yesterday after it announced its financial results for the quarter as well as for the nine month period, both of which had concluded on September 30, 2021. Despite the fall in the stock price, it might be a good idea to take a closer look into the numbers in order to get a better idea.
In the third quarter, the company managed to generate revenues of $2.251 million and that represented a massive jump of 613% on a sequential basis from the $0.367 million that the company had managed to generate in previous quarter.
On the other hand, the company also managed to generate net income of $543263 for the quarter and that represented year on year growth of a staggering 289%. While these numbers look impressive, it did not seem to impress the investors and it remains to be seen if the Cyberlux stock can manage to make a comeback or not any time soon.
Traders Corner
CYBL stock is trading below the 20-Day and 50-Day Moving averages of $0.0416 and $0.0396 respectively. However, the stock is trading above the 200-Day moving average of $0.0139. The stock is down 17% in the past month.
