MamaMancini’s Holdings Inc. (NASDAQ:MMMB) Stock Falls After Quarterly Earnings

MamaMancini’s Holdings Inc. (NASDAQ:MMMB) is down 11% in a week. The specialty froze, preprepared, and refrigerated foods marketer has released its fiscal Q3 results for the quarter ending October 31, 2021.

Market Stats

On Tuesday, MMMB stock fell 2% at $1.99 with more than 134K shares, compared to its average volume of 67K shares. The stock has moved within a range of $1.9565 – 2.0900 after opening trading at $2.04.

. The stock has moved within a range of $0.1459 – 0.1686 after opening trading at $0.1459.           

Earnings Recap

The company reported revenue of $10.9 million in Q3 2021, representing a YoY increase of 12.1% from Q3 2020’s revenue of $9.7 million. Gross profit was $2.7 million, up 6.2%, while net income was $0.00 million or $0.00 per share.

During the quarter, the company advanced its active acquisition initiative focusing on complementary food products companies with sales between $12 million and $35 million annually. The focus is on products symbiotic to the company’s current retail foodservice and club store distribution network. In addition, on December 8, 2021, the company announced the popular Today’s Special Value on QVC, securing around five hours of airtime over the day. As a result, this boosted sales by $2 million spread out through the 2021/2022 calendar year. So, investors should watch MMMB in the coming weeks.

Traders Corner

MMMB stock is trading below the 20-Day and 50-Day Moving averages of $2.17 and $2.32 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.56.