Insignia Systems, Inc. (ISIG) stock went down by 4.84% after hours, following the gain of 64.84% during regular trading. Hence, the stock seems to have fallen under corrections in order to shed its previous gain.
During the regular session on Tuesday, ISIG stock traded between $15.77 and $23.40. After closing the session at $19.02, the stock fell down to $18.10 at an after-hours volume of 320.6K shares.
The in-store and digital advertising solutions provider, Insignia Systems, Inc. has a market capitalization of $20.4M. Currently, the company has 1.77 million shares outstanding in the market.
ISIG’s Movements
Like most of the small-cap stocks, ISIG also saw an uptrend this week. On December 28, the stock reached a high of $23.40 at a huge volume of 43.53 million shares. The day’s volume was a humungous 1,005% of its 65-day average of 4.33 million. Given the uptrend in the stock, ISIG gained 57.45% in the past five days. With so many gains, the stock was bound to fall under corrections. Hence, the after-hours session called for a fall of the stock, making it go down by $0.92.
Looking at the bigger picture, ISIG stock has maintained strong bullish momentum with 223.51% gains year to date. Moreover, the stock has accumulated 166.39% in the past year.
Recent Developments
On December 06, the company announced to review strategic options for maximizing shareholder value. ISIG commenced exploring strategic alternatives like acquisition, merger, business combination, in-licensing, etc.
Moreover, further details of the process like the timetable of completion are not specified or decided as of yet.
In addition, the independent, full-service, global investment bank, Chardan will act as ISIG’s strategic financial advisor for the process. Chardan specializes in bringing disruptive innovation to corporate and institutional clients.
ISIG’s Financial Analysis
On November 04, the company disclosed its financial results for the third quarter of 2021, which ended on September 30, 2021.
In the third quarter of 2021, ISIG’s net sales were $3,493,000 against $4,435,000 in the Q3 of 2020. This shows a decrease of 21.2% year over year due to exceptionally strong sales in the year-ago quarter.
Moreover, the company incurred a net loss of $921,000 in the third quarter of 2021, against $886,000 in the year-ago quarter. Consequently, the net loss per basic share was $0.52 and $0.51 in the Q3 of 2021 and 2020, respectively.
