Muscle Maker Inc. (NASDAQ:GRIL) Stock Sees Bearish Trend After Quarterly Earnings
Muscle Maker Inc. (NASDAQ:GRIL) dropped 13% in the previous session after posting its Q3 2021 financial results for the quarter ending September 30, 2021.
Market Stats
On Tuesday, GRIL stock slumped 13.10% at $1.26 with more than 7.57 million shares, compared to its average volume of 2.23 million shares. The stock has moved within a range of $1.2220 – 1.4000 after opening trading at $1.34.
Earnings Recap
CEO Michael Ropersaid that the company reported a net loss of $433,000, representing the best quarter in the company’s history since its IPO. In addition, Roper said that with the COVID-19 impact falling behind and the restaurant industry recovering, the company is beginning to see positive impact for the “healthier for you” brands, including Pokemoto, Superfit Foods, and Muscle Maker Grill.
The company’s growth plan concentrates on franchising ns strategic acquisitions; Muscle Maker has an extensive franchise team experienced in real estate, sales, and operations, and they look to leverage the experience to enhance the growth strategy. The company acquired Pokemoto, Superfit Foods, and opened four outlets in Northern Virginia Community College Campuses. These recent acquisitions bring the company’s total open locations to 42 franchises and corporately owned outlets. So in the coming weeks, GRIL is worth watching.
Key Quote
Michael Roper, CEO of Muscle Maker, Inc., commented, “The recently posted 3rd Quarter net loss narrowed to ($433K) which is the best performing quarter since our IPO. As the impact of Covid falls further into the rear-view mirror and the restaurant industry continues to recover, we are starting to see a positive impact to our portfolio of “healthier for you” brands – Muscle Maker Grill, Superfit Foods and Pokemoto. Not only have we experienced a significant top line revenue increase, we are also seeing our operating metrics improve year over year as the new entities are integrated into the overall Muscle Maker Inc., portfolio of companies.”
Traders Corner
GRIL stock is trading above the 20-Day and 50-Day Moving averages of $1.26 and $1.14 respectively. However, the stock is trading below the 200-Day moving average of $1.53. The stock is up 22% in the past month.
