I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Tribune Updates specializing in quicker moving active shares with a short term view on investment opportunities and trends.
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Latest posts by Jerome Brooks (see all)
- Stock in the Spotlight: Brandywine Realty Trust (NYSE: BDN) - January 27, 2020
- An Eye on Financial Results: CatchMark Timber Trust Inc. (NYSE: CTT) - January 8, 2020
- An Eye on Financial Results: CatchMark Timber Trust Inc. (NYSE: CTT) - November 13, 2019
AUSTIN, Texas, November 13, 2019 – Shares of CynergisTek Inc. (NYSE: CTEK) lost -0.34% to $2.92. The stock grabbed the investor’s attention and traded 18,960 shares as compared to its average daily volume of 29.78K shares. The stock’s institutional ownership stands at 29.40%.
CynergisTek, Inc. (NYSE AMERICAN: CTEK) reported cost of revenue of $3.00M for the three months ended June 30, 2019, as compared to $2.50M for the same period in 2018. This increase was due to increased headcount in order to provide services to a larger customer base, support new services, and efforts to augment the employee salary and benefit offerings to attract and retain talent. Revenue increased by approximately $0.70M to $5.10M for the three months ended June 30, 2019, as compared to the same period in 2018. Gross margin was 41% of revenue for the three months ended June 30, 2019 and 43% for the same period in 2018. The slight decline in gross margin is reflective of investment in attracting and retaining talented cyber security employees and costs associated with ramping up new services.
Sales and marketing expenses were $1.30M for the three months ended June 30, 2019, as compared to $1.30M for the same period in 2018. General and administrative (G&A) expenses increased to $1.50M for the three months ended June 30, 2019, as compared to $1.40M for the same period in 2018. The increase in G&A is due to an increase in salaries and related costs primarily as a result of the issuance of restricted stock units to key employees and board members and software subscriptions for business tracking.
GAAP net loss from continuing operations for the second quarter was $0.90M, or $(0.10) per basic and diluted share compared to a net loss of $1.70M, or $(0.17) per basic and diluted share for the same period of 2018. GAAP net loss for the second quarter, after adjustment from income from discontinued operations, including gain on sale, net of tax, was $1.10M, or $(0.11) per basic and diluted share compared to net income after adjustment from income from discontinued operations, net of tax of $0.10M, or $0.1 per basic and diluted share for the same period of 2018.
CTEK has a market value of $28.29M while its EPS was booked as $0.00 in the last 12 months. The stock has 9.69M shares outstanding. In the profitability analysis, the company has gross profit margin of 34.20% while net profit margin was 38.90%. Beta value of the company was 0.40; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 2.00.