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Friday, December 9, 2022

Star Equity Holdings, Inc. (STRR) Stock Taking Steady Steps Forward in Aftermarket, Here’s Why

Star Equity Holdings, Inc. (STRR), which provides healthcare solutions, has gained an increase of 4.31% in aftermarket trading session. As a result, STRR stock is trading at $2.66 at the time of the writing. The increase could be attributed to insider trading as the volume of insider trading soared on late Tuesday. On Monday, STRR stock closed the day at $2.5 after a nominal increase of 0.39% during the regular trading session. Let’s dive deeper into developments related to the stock.

A glimpse of STRR Q3 2021 Results

On 12th November, STRR released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 30th September. The company generated total revenue of $28.8 million during the quarter against $21.3 million for the same period of 2020. The total cost of revenue for the period stood at $25.1 million against $17.6 million for the same period of 2020. The total operating expenses for the period were $5.6 million against $5 million for the same period of 2020. The net loss bore by the company during the period stood at $2.1 million (or $0.51 per basic and diluted share) against $1.7 million (or $0.47 per basic and diluted share) for the same period of 2020.


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9 MFY2021 Operational Results

STRR also released the operational results for the nine months ended on 30th September. The company generated total revenue of $77 million during the period against $55 million for the same period of 2020. The total operating expenses bore by the company during the nine months were $16.2 million against $14.7 million for the same period of 2020. The net income generated by the company during the nine months was $1.4 million against the net loss of $6 million for the same period of 2020.

Executive Commentary

Jeff Eberwein, Executive Chairman of STRR, while commenting on the results said that the company’s revenue portfolio has increased during the nine months due to steps taken to improve operations and bring an increase in the pricing. Looking ahead, the company is better positioned to fund high return internal growth investment and pursue acquisitions.

Future Outlook for STRR

A closer look at statistics reveals that STRR stock has generally followed a stable trajectory during the last few months. However, the analysts believe that the stock has the potential to attract long term investment from investors.

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