Yesterday, Real Scientific Inc (OTCMKTS:RSCF) was in the news after the company announced its financial results for the third fiscal quarter for 2021. However, it seems that the numbers did not quite impress the market and the stock ended the day with a decline of 11%.
Market Reaction
On Tuesday, RSCF stock fell 11.40% at $0.1950 with more than 407k shares, compared to its average volume of 78k shares. The stock has moved within a range of $0.1900 – 0.2380 after opening trade at $0.2125.
Latest News
However, it was part of a larger pattern considering the fact that in the past week, the Real Scientific stock has lost as much as 22%. The Chief Executive Officer of the company, Mr Boyce, spoke about the performance from the company as well and noted that the third quarter proved to be another profitable quarter.
He went on to state that Real Scientific had been successful in improving the margins from its cryogenic products during the course of the third quarter. That had been the reason why the company had also been able to improve its overall gross profits. In the third quarter, the company managed to bring in revenues of $716000 and in the nine month period ending September 30, 2021 it stood at $1.9 million. It now remains to be seen if the profitable quarter from the company helps the stock in rebounding in the markets or not.
Traders Review
RSCF stock is trading below the 20-Day and 50-Day Moving averages of $0.26 and $0.27 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.29. The stock is down 50% over the past 3-month.
