Home Equities Score Why Toughbuilt Industries Inc (TBLT) stock went up on Wednesday?

Why Toughbuilt Industries Inc (TBLT) stock went up on Wednesday?

Toughbuilt Industries Inc (TBLT) stock jumped 12.35% in the after-market on Wednesday, June 16, 2021, and close at $0.96 per share. Earlier in the morning session, TBLT shares gained 6.69% and close the session at $0.85 per share. TBLT shares have fallen 5.17% over the last 12 months, and they have moved up 8.55% in the past week. Over the past three months, the stock has lost 31.17%, while over the past six months, it has added 13.44%.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now.

Recent financial results

On May 17, 2021, ToughBuilt Industries, Inc reported financial results for the first quarter ended March 31, 2021.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Sponsored


Q1 2021 financial highlights

ToughBuilt Industries reported revenue of $12.3 million inQ1 2021, compared to $3.9 million in the first quarter of 2020.

GAAP gross profit was $3.5 million in Q1 2021, compared to $1.5 million in the first quarter of 2020.

GAAP gross profit margins were 28.2% in Q1 2021, compared to 38.9% in Q1 2020.

GAAP operating expense was $9.4 million in Q1 2021, compared to $5.0 million in the first quarter of 2020.

The company reported a net loss of $6.1 million, or $0.09 per share in Q1 2021, as compared to a net loss of $5.0 million, or $0.43 per share in the first quarter of 2020.

As of March 31, 2021, the company had cash and cash equivalents of $32.5 million.

Read More

FY 2020 financial results announcement

Let’s have a brief look at TBLT financial results for the fiscal year ended December 31, 2020, which were announced on March 26, 2021.

Financial Highlights for 2020

  • TBLT reported revenues of $39.4 million for the year 2020, compared to $19 million for the previous year.
  • It suffered a net loss of $18.6 million, or $0.68 per share for the reported year, compared with $6.4 million, or $2.08 per share in fiscal 2019.
  • TBLT was managed to increased its gross profit to $14.7 million, compared with $5.6 million in 2019.

TBLT regained compliance with Nasdaq’s listing requirements.

On February 9, 2021, TBLT announced that it has regained compliance with the minimum bid price requirement outlined in Rule 5550(a)(2) of the Nasdaq Listing Rules.

Nasdaq informed TBLT on July 24, 2020, that the closing bid price per share had been below $1.00 for a period of 30 consecutive business days and that the Company did not meet the Minimum Bid Price Requirement. The TBLT gave 180 days extension on January 21, 2021, to meet Nasdaq’s requirements for listing qualification.

Conclusion

The TBLT stock soaring on Wednesday has no grounds. There is no recent news or development in the markets and we hope that TBLT will continue to prosper in the coming days.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now.

About the company

TBLT was founded in 2012 and its headquarter is in California, United States. The company manufacture and distribute the advanced product design mostly focused on tools and other accessories for the professional and do-it-yourself construction industries.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Energous Corporation Inc. (WATT) stock declines during after-market. Here’s to know why?

Energous Corporation Inc. (WATT) stock gained by 7.05% at last close whereas the WATT stock price plunged by 7.82% in the after-hours trading session....

AMAZON Inc. (AMZN) stock fell during after-market. Here’s the update

Amazon Inc. (NASDAQ: AMZN) stock plunged by 0.84% at last close however moving ahead the AMZAN share price also declines by 7.44% in the...

Cocrystal Pharma Inc. (COCP) stock soars during current market. Here’s what you should know

Cocrystal Pharma Inc. (NASDAQ: COCP) stock gains by 17.44% in the current market trading session. Cocrystal Pharma, Inc. is a clinical-stage biotechnology firm focused...

Why did Corvus Pharmaceuticals Inc. (CRVS) stock soar on Wednesday?

Corvus Pharmaceuticals Inc. (CRVS) shares surged 9.17% in after-hours on Wednesday, July 28, 2021, and closed the daily trading at $2.38. in the regular...

Havertys Furniture Companies Inc. (HVT) stock gains during after-hour trading, Here’s to know why?

Havertys Furniture Companies Inc. (NASDAQ: HVT) stock declined by 0.39% at last close whereas the HVT stock price gains by 4.6% in the after-hours...

ImmunoPrecise Inc. (IPA) stock fell during pre-market. What’s the update?

ImmunoPrecise Inc. (NASDAQ: IPA) stock declined by 8.39% at last close while the IPA stock-price plunge by 4.87% in pre-market as well. ImmunoPrecise is...

ECMOHO Ltd. (MOHO) stock plunged during pre-market. Let’s see what’s happening?

ECMOHO Ltd. (NASDAQ: MOHO) stock gained by 7.05% at last close, while during pre-market MOHO stock has been seen declining by 7.75%. In China's...

Synthetic Biologics Inc. (SYN) stock plunged during pre-market. Here’s what you should know?

Synthetic Biologics Inc. (NASDAQ: SYN) stock gained by 8.09% at last close whereas the SYN stock price declines by 0.54% in the pre-market trading....

Related News

UXIN stock declines during current market trading. What’s driving it low?

Uxin Ltd. (NASDAQ: UXIN) stock declines by 3.41% during current market trading. In China, Uxin Limited is a prominent online used vehicle dealer with...

Synthetic Biologics Inc. (SYN) stock plunged during pre-market. Here’s what you should know?

Synthetic Biologics Inc. (NASDAQ: SYN) stock gained by 8.09% at last close whereas the SYN stock price declines by 0.54% in the pre-market trading....

Why did Atossa Therapeutics Inc. (ATOS) underperform on Thursday?

Atossa Therapeutics Inc. (ATOS) shares fell 5.38% in after-hours on Thursday, July 29, 2021, and closed the daily trading at $3.69 per share. Earlier...

Why Ardelyx Inc. (ARDX) stock price fluctuated on Thursday?

Ardelyx Inc. (ARDX) shares jumped 2.92% in after-hours on Thursday, July 29, 2021, and closed the daily trading at $1.76. Earlier in the regular...

Annovis Bio Inc. (ANVS) stock plunged during current market. Here’s the update

Annovis Bio Inc. (NASDAQ: ANVS) stock declined by 51.30% in the current market trading session. Annovis Bio based in Berwyn, Pennsylvania, is a clinical-stage...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam