FDTech Inc (OTCMKTS:FDCT) Issues Q1 Earnings: Stock Flat

Financial technology related company FDTech Inc (OTCMKTS:FDCT), which is involved in acquiring and then integrating financial services companies of middling size, saw its stock trading within a range yesterday.

Market Stats      

On Wednesday, FDCT stock ended flat at $0.0497 with more than 1K shares, compared to its average volume of 45K shares. The stock moved within a range of $0.0497 – 0.0497 after opening trading at $0.0497.      

Key Details

As it happens, on Wednesday the company FDTech announced its financial results for the fiscal quarter that had ended on March 31, 2022 and it may be a good idea for investors to consider taking a closer look at the numbers. The company managed to generate revenues to the tune of as much as $1,541,222 in the quarter and that was considerably higher than the revenues of only $64,353 in the prior year period.

That reflected a year on year revenues boost of as much as 2294.79%. Much of the rise in revenues was brought about through the consolidation of revenues generated by Advisory Services Pty Ltd. However, to go along with the massive rise in revenues, the losses actually widened. FDTech suffered a net loss of $389,196 for the period and that was higher than the net loss of $221,838 in the prior year period. At this point in time, it could be a good idea for investors to consider keeping track of the price action in the FDTech stock.

Traders Corner

FDCT stock is trading above the 20-Day and 50-Day Moving averages of $0.0403 and $0.0393 respectively. However, the stock is trading below the 200-Day moving average of $0.0653.