Home Business Why Ault Global Holdings Inc (DPW) stock jumped significantly on Friday?

Why Ault Global Holdings Inc (DPW) stock jumped significantly on Friday?

Ault Global Holdings Inc (DPW) stock gained 8.70% on Friday, April 30, 2021, to close at $3.00 per share. Later, in the after-market session, it further jumped 6.33% to close at $6.33 per share. DPW shares have soared 143.90% over the last 12 months, and they have gained 25.52% in the past week. Over the past three months, the stock has lost 35.34%, while over the past six months, it has added 74.42%.

Let’s check out its recent developments.


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Recent financial results

On April 16, 2021, Ault Global Holdings, Inc announced its financial results for its fourth quarter and year ended December 31, 2020, on its Form 10‑K filed with the Securities and Exchange Commission.

Q4-2020 financial highlights

  • Q4 2020 revenue was $7.2 million.
  • Gross profit was $1.9 million in the reported quarter.
  • Ault Global Holdings suffered an operating loss of $709,361 in Q4 2020 compared to an $8.9 million operating loss in Q4 2019.
  • Q4 2020, the net loss was $10.4 million.

 

FY-2020 financial highlights

  • FY 2020 revenue was $23.9 million compared to $22.4 million in 2019.
  • FY 2020 gross profit was $7.5 million.
  • Ault Global Holdings suffered an operating loss of$6.0 million in FY 2020 compared to $24.7 million in the prior fiscal year.
  • FY 2020 net loss was $32.7 million.

 

Coolisys Technologies received a $10.5 million purchase order

On March 25, 2021, Coolisys Technologies Corp which is a power electronics business of Ault Global Holdings, received a $10.5 million purchase order for 30,000 7kW residential EV charging systems.

Coolisys Technologies Corp entered into a three-year Purchase and Resale Agreement for the residential chargers with Origin Micro and its subsidiary, iNetSupply.com.

Investment in Alzamend Neuro

On March 12, 2021, Digital Power Lending, which is a wholly-owned subsidiary of Ault Global Holdings, entered into a securities purchase agreement with Alzamend Neuro, Inc. According to the agreement, Digital Power Lending will invest $10,000,000 in Alzamend common stock and warrants. The company agreed to invest $4,000,000 more on achieving certain milestones by Alzamend.

Gresham Worldwide Awarded a $3.0 Million Purchase Order

On March 10, 2021, Gresham Worldwide Inc, which is the defence business of Ault Global Holdings, received a $3.0 million purchase order from a leading defence and aerospace customer of Enertec Systems 2001, Ltd.

Resuming Bitcoin Mining

On March 5, 2021, Ault Alliance, Inc, which is a wholly-owned subsidiary of Ault Global Holdings, resumed bitcoin mining. The company also commenced the construction of a 30,000 square foot data centre at the Michigan facility.

The Company plans to speed up its bitcoin mining operations after the initial buildout is completed during the quarter ending June 30, 2021.

Conclusion

We have no recent news to justify its gains on Friday. Based on past performance, it can continue its surging on Monday as well.

 

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