Geometry Dash APK Hill Climb Racing APK
67.9 F
New York
Sunday, June 20, 2021

High Flying Optec International Inc (OTCMKTS:OPTI) Hits a Bump

Must read

VIVO Cannabis Inc (OTCMKTS:VVCIF) Stock Turns Volatile: Uptrend in Jeopardy

Anyone watching the market knows the cannabis sector has been booming again. Since the start of the year, the cannabis sector has...

Auxly Cannabis Group Inc (OTCMKTS:CBWTF) Attempts To Recover After The Recent Move

Among the many sectors that have made a comeback in the stock markets this year, the comeback made by the cannabis sector...

Artificial Intelligence Technology Solutions (OTCMKTS:AITX) Looks RAD: Extends Rally

The artificial intelligence space has grown at a highly impressive rate over the past few years and nowadays, investors are increasingly looking...

Tesoro Enterprises, Inc. (OTCMKTS:TSNP) In Focus: Continues to Hit New Highs

If you are looking for stocks that have managed to record significant gains over the past couple of months or so then...

Optec International Inc (OTCMKTS:OPTI) has been in the news this year, primarily for having branched out from only distributing OPTEC Fuel Maximizer globally and moving into the PPE (Personal Protection Equipment) distribution space.

It was a bold but understandable move considering the demand for PPE kits due to the coronavirus pandemic.

Last week, the OPTI stock rallied strongly after the company announced its financial results for the third quarter. The company delivered impressive numbers in the quarter and its stock gained as much as 18% as investors flocked to it.

But since then OPTI has shed nearly 20% of those gains and now sits at just $.039.

Earnings Review

OPTEC generated revenues of as much as $337 million for the quarter, which reflects a significant rise both on sequential and year on year terms. In the year-ago period, the company generated revenues of $249 million, while the revenues stood at $257 million in the previous quarter.

On the other hand, the gross profits soared as well and hit $324 million for the quarter. In the same quarter in 2019, OPTEC had announced gross profits of only $92 million.

The rally in the stock last week was quite understandable. However, in addition to these encouraging numbers, OPTEC also managed to reduce its per share losses significantly on a year on year basis.

Bigger Picture

The earnings per share for the third quarter were $0 and that is a far cry from the $0.25 loss per share that had been suffered by OPTEC in the year-ago period. In this regard, it is also necessary to point out that in the first week of November; OPTEC also announced that it signed a contract for supplying Brand Specific PPE to an international commodities-related consortium.

It is a significant deal for the company and is valued at as much as $2 billion. OPTEC also revealed that it signed another contract with a Freight and Logistics company by way of which it is going to transport certain items to healthcare clients. Stay tuned as this story is one of the more interesting ones in the OTC market.

Latest article

American Diversified Holdings Corp (OTCMKTS:ADHC) Nears Critical Level

When a stock records significant gains and then crashes and repeats over the course of a few months, then it might be...

Reconnaissance Energy Africa Ltd (OTCMKTS:RECAF) Gathers Further Momentum

If you are currently looking for stocks that may have recorded massive gains within a short period of time, then it might...

Is Tilray Inc (NASDAQ:TLRY) Stock a Good Buy After The Recent Fall?

The cannabis sector may have had a hard time not too long ago but over the course of the past months, the...

Sysorex Inc (OTCMKTS:SYSX) Stock Still Riding Big News

Investors are always drawn to stocks that make a big jump out of nowhere. So it's no surprise that Sysorex Inc (OTCMKTS:SYSX)...

BIGG Digital Assets Inc (OTCMKTS:BBKCF) is Struggling to Regain Momentum

Over the course of the past few months, the continued rally in some of the biggest cryptocurrencies has led to considerable interest...
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet. Affordable best sms verification service