RedHawk Holdings Corp (OTCMKTS:SNDD) Stock Continues Pulls Back After The Recent Gains
RedHawk Holdings Corp (OTCMKTS:SNDD) stock was under pressure in the previous trading without any news. However, the stock is still up 17% over the past week.
Market Action
In the previous trading session, SNDD stock slumped 14.50% at $0.0039. A total of 5.01 million shares traded for the session hands, below its average volume of 4.74 million shares. The stock opened at $0.0043 and moved in a range of $0.0035 – 0.0043.
Key Trigger
Feb 05, 2021, – RedHawk Announces New Orders Top $12.0 Million
RedHawk Holdings announced gross revenues for the twelve month period ended December 31, 2020 were approximately $2.0 million, an increase of approximately $1.8 million over the comparable twelve month period ended December 31, 2019. Net revenues were approximately $1.7 million, more than 1000% higher than net revenues for the comparable twelve month period ended December 31, 2019. The Company’s fiscal year end is June 30, and, therefore, these gross revenues and net revenues represent results from the Company’s third and fourth fiscal quarters of the fiscal year ended June 30, 2020 together with the first and second fiscal quarters of the Company’s current fiscal year.
The increases in gross revenues and net revenues during the twelve month period ended December 31, 2020 were primarily a result of greater sales of SANDD™, the Company’s propriety line of needle incineration medical devices, and certain personal protection equipment. To date, increased sales of our medical products have continued after December 31, 2020. Currently, new orders for future sales of our medical devices and certain personal protection equipment now exceed $12.0 million with further increases possible as order quotations and inquiries appear strong.
Key Quote:
Commenting on the projected revenues for the twelve month period ending December 31, 2021, G. Darcy Klug, RedHawk Chairman and Chief Financial Officer, said, “During the three month period ended December 31, 2020, we started the re-alignment our medical device marketing strategy to increase product awareness while meeting the demands of current market conditions and customer demands. Our medical products business unit continues to operate in a challenging workplace environment due to implemented COVID-19 protocols by hospitals, clinics, and other medical offices. Most of our target customers will not schedule in-person appointments with our sales representatives. This change in marketing strategy has been very successful to date and is expected to be fully completed during the three month period ending March 31, 2021.”
Trader Notes:
SNDD stock is trading below all the key moving averages with 50-day and 200-Day SMA stand at $0.0048 and $0.0066 respectively. The stock has lost 42% over the past 3-month, but up 15% so far this year. The company has high shares float of 1,026.86 M (77.97%).
