Home Trending Stocks Here is why Ault Global Holdings Inc (DPW) stock rallied in the...

Here is why Ault Global Holdings Inc (DPW) stock rallied in the pre market today?

Ault Global Holdings Inc. (DPW) shares surged 15.32% to $2.71 in the pre-market on Tuesday, May 25, 2021. Earlier, DPW’s stock lost -4.47% in the morning trading session on Monday and closed at $2.35 per share. DPW shares have jumped123.81% over the last 12 months, and they have moved down 0.42% in the past week. Over the past three months, the stock has declined 48.01%, while over the past six months, it has risen 29.83.

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Let’s have a look at DPW’s recent news and developments.

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Recent financial result announcement

On May 24, 2021, Ault Global Holdings Inc reported its financial results for the first quarter ended March 31, 2021, on its Form 10‑Q filed with the Securities and Exchange Commission.

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Q1 2021 financial highlights

  • DPW reported revenue of $13.2 million for Q1 2021 compared to $5.6 million in the prior first fiscal quarter.
  • In Q1 2021, the gross margin was 4% compared to 31.3% for the three months ended March 31, 2020.
  • Operating expenses were $6.9 million in Q1 2021 compared to$4.7 million in Q1 2020.
  • Selling and marketing expenses were $903,000 and general and administrative expenses were $2.2 million for Q1 2021.
  • The company earned a net income of $2.0 million for the first quarter of 2021.
  • As of March 31, 2021, Ault Global Holdings had Cash of $107.8 million, marketable securities of $18.2 million, and other investments of $36.5 million.

Q4 & FY2020 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.

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Conclusion

The DPW stock flipped and rallied in the after-hours after the company announced its first-quarter financial results which are much improved if compared with Q1 2020. The DPW stock can continue its positive momentum on Tuesday as well.

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