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Thursday, September 28, 2023

Insignia Systems, Inc. (ISIG) Stock on a Surge, Here’s the Reason

Insignia Systems, Inc. (ISIG), a company that provides in-store and digital advertising solutions, has surged 7.33% in aftermarket trading session. Consequently, ISIG stock is trading at $25.49 at the time of the writing. On Thursday, ISIG closed the day at $23.57 after increasing 3.08% during regular trading hours. During the month of December, ISIG stock saw this spree of increase as short-term trade of the stock was rampant during the said period. Also, the company’s pledge to investors that it was looking for more strategic options provided the stock with a boost during recent days. Let’s have a discussion about some recent developments related to ISIG.

ISIG Q3 2021 Operational Results

In early November, ISIG released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 30th September. The company generated net sales of $3.49 million during the quarter against $4.43 million for the same quarter of 2020. The gross profit for the three-month period was $0.54 million against $0.55 million for the same three-month period of 2020. The net loss for the period was $0.92 million (or $0.52 per basic and diluted share) against $0.88 million (or $0.51 per basic and diluted share) for the same period of 2020.

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Q3 2021 Financial Results

Alongside the operational results, ISIG also released some key financial indicators of the quarter. The cash and cash equivalents for the period ended 30th September 2021 were $3.73 million. The total assets of the company on 30th September were $9.45 million, while the total liabilities stood at $5.13. The shareholders for the said period stood at $4.32 million.

Executive Commentary

President and CEO of ISIG, Kristine Glancy, while commenting on the results said that the sales of the company have declined during the quarter against the same period of the previous year, which mainly happened due to the deferment of programs for the second quarter of 2020. The company is continuing to right-size its investment in signage based on the consistent sales decline and pressure from competitors. The company expects to shift away from signage for the management of overall expenditures.

Future Outlook for ISIG

The last month has seen ISIG stock soar by more than 300%. The increase could be associated with both market-based factors and company-related developments, which are building investor interest in the stock. Looking ahead, potential investors should keep a close eye on the performance of the stock.

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