InnerScope Hearing Technologies Inc (OTCMKTS:INND) Stock Jumps After Reporting Q4 Preliminary Results
Fast emerging direct to home hearing technologies leader InnerScope Hearing Technologies Inc (OTCMKTS:INND) was in considerable focus among investors yesterday and its stock ended the day with gains of as much as 9%.
Market Stats
On Tuesday, INND stock moved up 8.51% to $0.0051 with more than 27.15 million shares, compared to its average volume of 28.02 million shares. The stock moved within a range of $0.0047 – 0.0055 after opening trading at $0.0050.
InnerScope Hearing Technologies (OTC: INND) Announces Preliminary Revenue of $633,894 in the Fourth Quarter of 2021
In this situation, it may be a good idea for investors to consider taking a look at the announcement from the company yesterday. The company made an announcement yesterday with regards to the unaudited revenues results for the fourth fiscal quarter that had ended on December 31, 2021. The company announced that its unaudited revenues for the quarter came in at $633894.
In addition to that, the company also provided certain business highlights from the quarter that investors ought to look into. In the fourth quarter, InnerScope managed to complete the acquisition of Completed iHear Medical and Completed HearingAssist, both of which are hearing aid companies. The acquisitions in question also included an office in Virginia Beach in California and a manufacturing and research and development facility in the city of San Leandro in California.
These were announcements that led to considerable positivity among investors and that sent the stock soaring. It may be a good idea now for investors to add the stock to your watch lists.
Key Quote
Matthew Moore, President, and CEO of InnerScope Hearing Technologies commented, “We are excited to provide investors with these preliminary results, which are indicative of the growing customer and major retailers’ interest in our innovative, affordable hearing products and in-store automated Hearing Screening Kiosks. Our sales momentum and growth come from our hard work in building a scalable and sustainable business model. We have built a team of well-experienced industry leaders in R&D, marketing, and distribution, allowing InnerScope to create a proprietary patentable product portfolio and to continue to focus on our execution strategy building a wholesale distribution network of major retailers and pharmacy chains.”
Traders Corner
INND stock is trading below the 20-Day and 50-Day Moving averages of $0.0062 and $0.0084 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0120.
