search icon
      blog search icon

      COMSovereign Holding Corp. (COMS) Bearish After-Hours due to Market Corrections - Stocks Telegraph

      By Gule Rukhsar

      Published on

      November 18, 2021

      8:24 AM UTC

      Last Updated on

      November 18, 2021

      8:41 AM UTC

      COMSovereign Holding Corp. (COMS) Bearish After-Hours due to Market Corrections - Stocks Telegraph

      COMSovereign Holding Corp. (COMS) loses 4.11% in the after-market, versus its previous gain of 19.7% at the close on November 17. COMS reached $1.46 at the market close, after which it fell to $1.40 at a volume of 1.17 million. The stock traded at an active volume of 10.46 million (792% of avg.) during the normal trading session. Over the past 5 days, the stock saw a gain of 21.7%, while losing 75.7% year to date. This recent gain in the stock resulted in the market entering corrections, causing it to fall in the after hours.

      COMSovereign Holding Corp. (COMS)

      Founded in 2014, COMSovereign Holding Corp. (COMS) is a communication technology company. IT provides solutions to network operators, mobile device carriers, governmental units, and other enterprises worldwide. The company offers LTE Advanced and 5G-New Radio telecom solutions to networks, enterprises, and governments.

      COMS is headquartered in Dallas, Texas, United States of America.

      Recent Developments in COMS stock

      On November 17, the company announced the introduction of its Lextrum ASTRATM Electronically Reconfigurable Antenna Technology. According to the report, COMS’ Lextrum In-Band Full Duplex (IBFD) completed its OTA testing, which led to the introduction of the Lexturm ASTRATM. This new technology will enable full-duplex simultaneous radio frequency transmission and reception. Moreover, it can increase simultaneous bandwidth up to 100%.

      The strong over-the-air test results of the IBFD technology confirm the importance of IBFD tech along with ASTRATM for 5G solutions. Both the technologies would be available for licensing to radio manufacturers for the up-gradation of their products.

      This introduction of the new technology by COMS, caused to stock to soar in the regular trading session.

      Q3 Financial Results

      On November 15, COMSovereign Holding Corp. (COMS) declared its financial results for the quarter that ended September 30, 2021. The company earned total revenues of $4.1 million approx. for the Q3 2021, against that of $2.0 million approx. for Q3 2020. The revenue increased by approximately 103%. While for the first nine months of 2021, the revenues totaled $9.8 million, against that of $7.5 million in the same period of 2020. This increase in the nine-month revenue suggests a 31% change.

      Moreover, the net loss for the third quarter of 2021 was $10.6 million, compared to a net loss of $10.3 million in 2020. Accordingly, the net loss per basic and diluted share was $0.15, while it was $0.23 for Q3 2020.

      More From Stocks telegraph