Net Medical Xpress Inc (OTCMKTS:NMXS) Stock Jumps After Reporting Q1 Earnings

It is almost certain that investors are going to be focussed on the Net Medical Xpress Inc (OTCMKTS:NMXS) stock this morning after it emerged as one of the biggest gainers on Wednesday and clocked gains of a staggering 154%.

Market Reaction

On Wednesday, NMXS stockĀ  soared 145.40% to $0.20 with more than 553K shares, compared to its average volume of 15K shares. The stock moved within a range of $0.0815 – 0.2200 after opening trade at $0.0900.

Quick Analysis

The company came into focus yesterday after it announced its revenues and net income for the first fiscal quarter of the year that had ended on March 31, 2022. It should be noted that the figure were unaudited. Net Medical managed to generate revenues of as much as $1,906,851 for the quarter and that was significantly higher than the revenues of $29,000 in the prior year period.

On the other hand, net income for the quarter soared to $577,152 and that was again much higher than the net income of only $29,000 in the prior year period. Dick Govtaski, who is the Chief Executive Officer of the company spoke about the strong results as well. He noted that the first quarter had proven to be successful and encouraging. He went on to note that it was also a reflection of the fact that the investments that Net Medical had made in its labs had also paid off handsomely.

Key Quote

CEO Dick Govatski said, “I am pleased to report a highly successful and encouraging start to fiscal year 2022 for Net Medical.

Traders Review

NMXS stock is trading above 20-Day and 50-Day Moving averages of $0.0869 and $0.0793 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0636.

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