Why Regional Health Properties Inc (RHE) Stock surged on Friday, May 7?

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Regional Health Properties Inc (RHE) Stock soared 24.17% on Friday to close the session at $18.60 per share. Later in the after-hours session, RHE shares declined 3.17% to close at $18.01 per share. RHE shares have soared 1476.27% over the last 12 months, and they have moved up by 157.62% in the past week. Over the past three months, the stock has gained 157.98%, while over the past six months, it has added 1238.03%.

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Let’s see what’s going on with RHE recently?


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Recent Financial results

On April 1, 2021, Regional Health Properties released its financial results for the fourth quarter and for the year ended December 31, 2020.

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Q4 2020 financial highlights

  • Total rental revenues in the fourth quarter of 2020 were $3.4 million, from $4.3 million in the fourth quarter of 2019.
  • General and administrative expenses were $1.0 million for the fourth quarter of 2020, compared with $641,000 for the same period in 2019.
  • Loss from discontinued operations, net of tax, for the reported quarter was $51,000 compared to income from discontinued operations of $215,000 for the prior-year period.
  • Net loss attributable to Regional Health Properties, Inc.’s common stockholders in Q4 2020 was $3.3 million compared with a net loss of $1.5 million in the prior-year period. 

FY-2020 financial highlights

  • Total rental revenues for the 12 months ended December 31, 2020, were $16.3 million, from $19.0 million for the twelve months ended December 31, 2019.
  • General and administrative expenses were $3.4 million for FY 2020, compared with $3.2 million for FY 2019.
  • For the reported year, loss from discontinued operations, net of tax, was $84,000 compared to income from discontinued operations of $626,000 for the prior year.
  • The net loss attributable to Regional Health Properties, Inc.’s common stockholders were $9.7 million or $5.74 per basic and diluted share in FY 2020 compared with a net loss of $3.5 million in FY 2019.
  • The company had cash and cash equivalents of $4.2 million on December 31, 2020, compared with $4.4 million on December 31, 2019. 

Unusual Trading Activity

On December 28, 2020, Regional Health Properties commented on unusual trading activity in the Company’s common stock.

The Company confirmed that it is not aware of any undisclosed material change in the business, operations or affairs of the Company that would account for the recent increase in the share price and the trading volume of the Company’s common stock.

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Conclusion

Well, as of this writing there is no recent news in the market about RHE to justify its loss and gains on Friday. it is hard to predict how RHE stock will start the new week on Monday.

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