SRAX Inc. (NASDAQ:SRAX) Stock is Soaring, Here is Why

SRAX Inc. (NASDAQ:SRAX) Stock is Soaring, Here is Why

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The SRAX Inc. (SRAX) shares are trading at higher $2.53.

To add more color to this target, the company’s high over the last year is $5.63 and the low is $1.05. Over the last 52 weeks, SRAX is down -55.06% while the S&P 500 is up 1.07%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, SRAX reported a profit of $0.24 million. SRAX Inc. also saw revenues increase to $0.35 million. In addition, SRAX has free cash flow of -$3.08 million as of 03-2020 The company’s EBITDA came in at -$3.55 million which compares well with its peers.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. SRAX has a short ratio of 18.28 and outstanding shares of 14.00M.

Company Outlook

SRAX has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 55210.0 and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -1.02. SRAX Inc. SRAX also noted assets of $19.9 million at the end of the last quarter. Investors should also keep an eye on sector updates as SRAX has historically followed its peers on positive news.

All told, SRAX Inc. SRAX has strung together solid data and demonstrated underlying fundamentals. At its current valuation, SRAX represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

SRAX Inc. SRAX is now commanding a market cap of 31.12M and a float of 12.20M. SRAX is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of SRAX stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in SRAX, either long or short, and we have not been compensated for this article.