Endonovo Therapeutics (OTCMKTS:ENDV) Stock Sees Profit Booking At Higher Level
Shares of Endonovo Therapeutics (OTCMKTS:ENDV) have been showing a volatile move as the stock ended lower by 13% on Friday. However, despite the fall, the stock is still up over 50% in the past week. Here are key takeaways
Market Stats
On Friday, ENDV stock slid 13.21% to $0.0130 with more than 108K shares, compared to its average volume of 174K shares. The stock moved within a range of $0.0120 – 0.0169 after opening trading at $0.0169.
About The Company
Commercial-stage developer of noninvasive wearable Electroceuticals therapeutic devices for general wellness, pain relief, and would curatives, Endonovo Therapeutics (OTCMKTS:ENDV) has a portfolio of commercial as well as clinical-stage wearables addressing pain, and wound healing, cardiovascular disease, chronic kidney disease amongst other disorders. Endonovo Therapeutics SofPulse has been FDA-cleared as well as CE marked for the palliative treatment of soft tissue injuries.
Endonovo Therapeutics Announces LOI to Acquire Specialty Construction Company
Endonovo Therapeutics Inc on June 9, 2022, announced a Letter of Intent for buying the highly-regarded market located in the Southern U.S. with an unaudited 2021revenue of $47.7M as well EBITDA of $5.3M.The revenue growth for the firm since 2018 has witnessed a staggering growth of $47 million in 2021, from $9.5 Million in revenue. The buying price of the acquisition is at 4X trailing 12 months EBITDA, subject to a three-year GAAP audit of financial results.
Endonovo CEO Alan Collier said that the firm is moving ahead with the previously announced ‘Build Up Strategy’ to acquire specialty service providers in the construction industry. This will give a steady stream of sales as well as earnings for complementing the expected periodic influx. Collier added that the company is expecting to finish the LOI to buy the highly profitable as well as market-leading target company.
Collier further stated that though the target acquisition is being withheld due to confidentiality understandings, the firm is confident in the market opportunities for growth in historical markets and beyond. Lastly, he stated that Endonovo’s management can work with existing management for growing outside the immediate geographic area as well as expand into commercial construction.
Finally, Collier said that though the company is focusing on additional acquisitions, management is moving ahead with programs for capitalizing on the portfolio of clinical-stage and commercial wearable therapeutic devices and IP.
The firm’s business as a developer of bioelectronic medical devices as well as commercialization efforts on the flagship SofPulsedevice is the focus of the present business plan. Cleared by FDA, the SofPulse device provides a non-opioid, non-invasive as well as non-pharmaceutical pain mitigation treatment. It is not known to have any side effects based on the 20,000+ surgical uses since its introduction.
“We are moving ahead with our previously-announced ‘Build Up Strategy’ of acquiring specialty service providers in the construction industry to provide an anticipated steady stream of sales and earnings to complement our expected periodic influx of same from our medical devices and IP,” according to Endonovo CEO Alan Collier.
Traders Corner
ENDV stock is trading below the 50-Day and 200-Day Moving averages of $0.0138 and $0.0188 respectively. However, the stock is trading above the 20-Day moving average of $0.0108.
