Shares of Home Bistro (OTCMKTS:HBIS) have been under selling pressure over the past month with a fall of 23%.
On Monday, HBIS stock moved up 3.50% to $1.11 with more than 25k shares, compared to its average volume of 47k shares. The stock has moved within a range of $0.9011 – 1.1800 after opening trade at $1.16.
Leading direct to consumer online platform offering celebrity chef-inspired, gourmet-ready made and lifestyle meals, Home Bistro (OTCMKTS:HBIS), confirmed record revenue of $703,364 for quarter three ending September 30, 2021, witnessing 135% surge over the same period of last year.
The company also confirmed that online meal orders surged by 501% during quarter three vis-à-vis 2020. ZalmiDuchman, Home Bistro’s CEO said that the firm is encouraged by the growth of the business, including Model Meals and expects the momentum to continue augmenting meal offerings with introductions of specialty cuisine by Roblé Ali, Ayesha Curry and Richard Blais.
The quarter four is generally Bistro’s most robust due to holiday buying followed by quarter one, which has been Model Meals’ strongest performing quarter. Duchman believes that the robust revenue growth will continue till 2022.
Duchmanfurther stated that the company had announced partnership with Perfecting Athletes, health and nutrition company, having tie up with more than 300 elite professional athletes, supermodels as well as famous entertainment professionals globally.
The CEO believes that the sought-after dietary and meal regimens as well as partnership with consumer wine platform, In Good Taste Wine, will enable customers to choose from a variety of selection globally.
However, Home Bistro had an operating loss for the quarter ending September 30, 2021, due to increase in professional fees to $691,422 as well as marketing expenses of $324,478.
HBIS stock is trading below the 20-Day and 50-Day Moving averages of $1.23 and $1.41 respectively. However, the stock is trading above the 200-Day moving average of $1. The stock is down 15% over the past month.