Why did Kelso Technologies Inc. (KIQ) Stock turn around in the after-hours on Tuesday?

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Kelso Technologies Inc. (KIQ) shares surged 5.74% in after-hours on Tuesday, August 17, 2021, and closed the daily trading at $0.57. In the regular trading session of Tuesday, KIQ’s stock lost 7.69%. KIQ shares have fallen 18.98% over the last 12 months, and they have moved down 16.67% in the past week. Over the past three months, the stock has lost 18.06%, while over the past six months, it has declined 54.62%.

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KIQ recent financial results announcement

On August 13, 2021, Kelso Technologies Inc (KIQ) reported unaudited consolidated interim financial statements for the six months ended June 30, 2021.


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Half-yearly financial highlights

  • KIQ reported revenue of $3,335,838 for the first six months of 2021 compared to $ 8,167,966 in the first six months of 2020.
  • The gross profit was $1,402,807 for the half-year of 2021 compared to $3,698,006 for the same period in 2020.
  • EBITDA was negative $908,621 in the first six months of 2021 compared to $negative 1,439,928 in the first six months of 2020.
  • It suffered a net loss of $1,194,333 in the first half of 2021 compared to a $ 1,028,867 loss in the first half of 2020.

KIQ AGM results

On June 04, 2021, Kelso Technologies Inc (KIQ) announced the detailed voting results from the Annual General and Special Meeting held on June 3, 2021.

Each of the nominees outlined in the Company’s management information circular dated May 4, 2021, was elected as a director of the Company to hold office until the next annual meeting of shareholders or until their successors are elected or appointed.

KIQ Q1 financial results announcement

On May 11, 2021, Kelso Technologies Inc (KIQ) released its financial results for the first quarter of 2021 which ended on March 31, 2021.

Q1 2021 financial highlights

  • kIQ reported revenue of $ 1,220,487 in Q1 2021 compared to $ 5,643,428 in Q1 2020.
  • Gross profit was $ 453,517 in Q1 2021 compared to $ 2,602,326 in Q1 2020.
  • It suffered a net loss of $ 800,113 in Q1 2021 compared to a net loss of $ 1,283,295 in Q1 2020.
  • The basic loss per share was $0.02 in Q1 2021 compared to $0.03 in Q1 2020.
  • EBITDA was negative $ 687,848 in Q1 2021 compared to $ 1,404,488 in Q1 2020.

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Conclusion

As of this writing, there is no reason to justify its early loss on Tuesday and later its recovery in the after-hours. We are not sure how it will perform in the next trading sessions.

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