INVO BioScience, Inc. (NASDAQ:INVO) shares are trading higher Wednesday after the company reported its fourth-quarter financial results after the market close Tuesday. Here's a look at the details.
The Details:
Invo Bioscience reported $1.38 million in quarterly sales, representing a 396.15% increase over sales of $278,140 from the same period last year.
The company also said it remains on-track with its goal of reaching break-even or profitability within its current operations in 2024.
Invo BioScience said it remains committed to acquire NAYA Biosciences in an all-stock transaction. Following the closing of the Merger, the combined company is expected to operate under the name “NAYA Biosciences.”
“We continue to execute on our plan to capture a greater share of the total fertility cycle revenue and profit through the transformation of INVO into an innovative healthcare services company, driven by our existing INVO Centers and recently acquired Wisconsin-based IVF Center,” commented Steve Shum, CEO of Invo.
Related News: What’s Going On With AMC Entertainment Stock?
INVO Stock Prediction 2024:
Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of valuation and forecasting. But many in trading turn to technical analysis as a way to form predictive models for share price trajectory.
Some investors look to trends to help forecast where they believe a stock could trade at a certain point in the future. Looking at INVO Bioscience , an investor could make an assessment about a stock's long term prospects using a moving average and trend line. If they believe a stock will remain above the moving average, which many believe is a bullish signal, they can extrapolate that trend into the future using a trend line. For INVO Bioscience, the 200-day moving average sits at $1.49, according to Benzinga Pro, which is below the current price of $2.59. For more on charts and trend lines, see a description here.
Traders believe that when a stock is above its moving average, it is a generally bullish signal, and when it crosses below, it is a more negative signal. Investors could use trend lines to make an educated guess about where a stock could trade at a later date if conditions remain stable.
INVO Price Action: According to Benzinga Pro, Invo BioScience shares are up 264% at $2.77 at the time of publication Wednesday.
Image: PublicDomainPictures from Pixabay
Comments