Amesite Inc. (AMST), an artificial intelligence-driven platform and course designer that provides online products in the United States, has surged 7.84% in aftermarket trading session and consequently is trading at $1.10 at the time of the writing. A huge volume of short-term trade, which was sparked by analysts rating the stock as a “moderate-buy”, could be perceived as the reason behind this surge. On Wednesday, AMST closed the day at $1.02 after gaining an increase of 2% during regular trading hours. The last release from the company was regarding its partnership with Ronald Regan Presidential Foundation.
AMST Partnership with RRPFI
On the 14th of December, AMST announced to have entered into a partnership with The Ronald Reagan Presidential Foundation and Institute (RRPFI). The partnership is intended to deliver eLearning at Reagan Academy powered by Reagan Connect. The public launch of the project was expected to take place on the 18th of February, 2022.
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Q1 2022 Operational Results
In November, AMST released the operational results for the first quarter of the fiscal year 2022. The quarter ended on 30th September 2021. The company bore total operating expenses of $2.51 million during the quarter against $1.58 million for the same quarter of the fiscal year 2021. The net revenue generated by the company during the three months was $0.14 million against $0.11 million for the same three-month period of the fiscal year 2021. The net loss suffered by the company during the period was $2.37 million (or $0.11 per basic share) against the net loss of $5.08 million (or $0.31 per basic share).
Alongside the operational results, AMST also shed a light on the financial metrics of the company. The company had cash and cash equivalents of $10.59 million on 30th September 2021. The total assets in possession of the company on the said date were $12.23 million. The current liabilities payable by the company on the said date were $1.12 million, while the total shareholders’ equity was $11.1 million.
What’s Ahead for AMST?
The last three months have seen AMST stock declined by more than 40%, owing to both market-related and company-specific factors. Looking ahead, investors are optimistic that the long-term investment would yield them benefit from the stock.