Intrusion Inc. (NASDAQ:INTZ) Stock Hits New Low: Where is The Bottom?
Real-time artificial intelligence provider Intrusion Inc. (NASDAQ:INTZ) on July 20, 2021 announced revenue for the quarter two of 2021, to be in the range of $1.9 million and $2.0 million.
The company has also engaged a firm in investment banking for assessing different funding sources and longer-term strategic options for facilitating growth, achieve operational objectives as well as increase shareholder value.
Advanced cyber-defense solution that kills cyberattacks in real-time, Shield, has been gaining recognition globally even as Intrusion is experiencing a slower sales growth.
The firm is confident on Shield’s effectiveness as well as the protection it gives to customers for fighting against cybercrime. Intrusion is working closely with sales channels and partners for ramping up testing and converting a pipeline of engagements into continuing subscriptions.
Jack B. Blount, erstwhile CEO has left the firm and hence the Board of Directors has asked CFO, Franklin Byrd, and CTO, Joe Head–who is also an INTRUSION Co-Founder—to be in charge of operations on behalf of the firm until a successor is named.
The company will be releasing its second quarter results on August 12 and even host a conference call with Anthony LeVecchio, Chairman of the Board, and Messrs. Investors and analysts may join the conference call.
Market Reaction:
On Tuesday, INTZ stock slumped 49.88% at $4.26 with more than 2.66 million shares, compared to its average volume of 356k shares. The stock has moved within a range of $4.0200 – 5.0900 after opening the trade at $5.06. Over the past 52-week, the stock has been trading within a range of $ 4.0200 – 29.9000.
