ALJ Regional Holdings Inc. (NASDAQ:ALJJ) Stock Continues to Trend in a Range
ALJ Regional Holdings Inc. (NASDAQ:ALJJ) is moving in a range after announcing Q4- and full-year results for the period ending September 30, 2021. ALJ is a holding company of subsidiaries including Phoenix Color Corp, and Faneuli Inc.
Market Stats
On Monday, ALJJ stock gained 0.85% to $1.18 with more than 33k shares, compared to its average volume of 39k shares. The stock has moved within a range of $1.1501 – 1.2700 after opening trading at $1.26.
Earnings Recap
Faneuil is a provider of call center services, staffing services, back-office operations, and toll collection services for commercial and governmental clients in the US. On the other hand, Phoenix offers educational materials, book components, and associated products.
The company had consolidated net revenue of $11.7 million during the quarter, representing a 14.2% increase relative to Q4 2020.The increase was due to high transportation and healthcare verticals production and one state unemployment contract at Faneuil. In the third quarter, consolidated net revenue was $103.5 million. Net income from ongoing operations was $1.1 million or $0.03 per diluted share, declining from $1.2 million a year ago. The drop resulted from small benefits for income taxes in the present quarter compared to last year. Investors should keep an eye on ALJJ.
Key Quote
Jess Ravich, Chief Executive Officer of ALJ, said, “Results for the quarter were above prior year as Faneuil continued to benefit from state unemployment related contracts, conclusion of certain unprofitable legacy contracts, and operational efficiencies. Phoenix continued to provide strong overall results with volumes increasing for education components and books.”
Traders Corner
ALJJ stock is trading below the 20-Day and 200-Day Moving averages of $1.21 and $1.32 respectively. However, the stock is trading above the 50-Day moving average of $1.16. The stock is up 3% in the past month.
