9.8 C
New York
Monday, February 6, 2023

TDH Holdings, Inc. (PETZ) Stock Surging in Premarket, Here’s the Reason

TDH Holdings, Inc. (PETZ), a company that develops, manufactures, and sells pet food products for pet owners in China, has surged 0.61% in the premarket trading session and consequently is trading at $0.47 at the time of the writing. On Friday, PETZ closed the day at $0.48 after increasing by 3.37% during regular trading hours. The stock is on a rally owing to the rumors of the company’s partnership with one of the largest retail corporations in the US.

1HFY2021 Operational Results

In early December, PETZ released the operational results for the first half of the fiscal year 2021. The period ended on 30th June 2021. The company generated net revenue of $0.13 million during the period against $0.28 for the same period of 2020. The operating loss for the six months was $1.17 million against $0.97 million for the same six-month period of 2020. The net loss attributable to the shareholders of the company was $0.94 million (or $0.02 per basic and diluted share) during the period against $0.6 million (or $0.01 per basic and diluted share) for the same period of 2020.

Top 5 Undervalued Stocks To Own In 2023

Microchip Maker Releases "World's Most Powerful Data Center CPU". It could allow the company who manufactures it to lead the industry as the global microchip shortage continues into the coming year. We've put together a free research report that explains all the details. Not only will you find out why analysts believe this chip manufacturer could lead the pack, you will also discover four more potential winners for the coming year.

Click here to download your Free Research Report…


Financial Metrics of PETZ

Alongside the operational results, PETZ also released the financial highlights of the quarter. The company had cash and cash equivalents of $5.97 million on 30th June 2021. The total current assets in possession of the company on the said date were $12.17 million, while the total assets were estimated to be $13.8 million. The current liabilities payable by the company were estimated to be $12.7 million, while the total liabilities were $12.9 million.

Executive Commentary

The management of PETZ, while commenting on the results said that although results depict a so; id performance from the company, the revenue of the company has decreased during the period as a result of the COVID outbreak as well as due to certain legal proceedings in which the company is involved since the last couple of years. Owing to the above-mentioned factors, the company received reduced sales orders from its customers and our sales volume decreased for the six months ended June 30, 2021.

Future Outlook for PETZ

During the last month, PETZ stock has declined by more than 90%, owing to both companies specific and market-related phenomena. Looking ahead, the analysts hold a negative evaluation of the stock. Hence, potential investors should make an informed decision regarding their investments in PETZ.

Latest news

Related news


Please enter your comment!
Please enter your name here