Penny stock Endra Life Sciences Inc. (NDRA) has been bullish since the company announced certain quality certifications on March 31 after its earnings release on March 30. The bullish momentum of the stock started escalating on April 7 while there has been no other news. Registering a gain of 10.46% during regular trading, NDRA went on to add a further 29.59% after hours. Thus, the stock was trading at a value of $0.5790 in the late trading session on Thursday.
NDRA’s Latest News
On March 31, the company announced it has achieved key quality management system recertification from the British Standards Institution (BSI). The recertification includes ISO 13485:2016 and EN ISO 13485:2016 under Certificate Number MD 697226 from BSI. The internationally recognized certification validates the standard and sustainability of NDRA’s Quality Management System (QMS).
Additionally, the prior Q4 2021 results showed a reduction in the company’s net loss while the cash balance at the end of the quarter was $9.5 million.
Could Market Happenings be the Reason?
Since the official news are almost a week old and NDRA stock saw a sudden surge on Thursday, external factors could be at play. There have been many developments taking place in the market.
Recently, the stock market took a hit after remarks from monetary policymakers were released. The Federal Reserve is eyeing an aggressive rise in interest rates in order to curb the hiking inflation. Moreover, the U.S. also slapped another round of sanctions on the Kremlin in response to Russia’s continued invasion of Ukraine. Thus, some expect a possible recession at the end of next year as the Fed continues hiking rates against high prices.
While this situation led most indices on a downtrend in recent days, a bounce-back was seen on Thursday. Investors continue to mull the hawkish readout of minutes from the FED while many say a recession is highly unlikely. Economists deem next year’s recession to be way out of consensus. They suspect a period of slowdown on Wall Street but no period of negative growth in the near term.
Conclusion
With many negative developments taking place in the market, indices have been down recently. Being a healthcare sector, specifically diagnostic company, NDRA stock was not much bothered by the market situation as it continued slow rise over the whole week. On Thursday, however, the stock surged up big time. And since there is no official word, the stock seems to be enjoying the rebound in the indices seen on Thursday.
