STOCKS TELEGRAPH

Tag: COMS Stock

  • COMSovereign (COMS) Stock Hits The Sweet Spot

    COMSovereign Holding Corp. (NASDAQ: COMS) is a telecom solutions company offering next-gen technological tools to mobile device carriers, network operators, enterprises, and government agencies. Its stock price has been seeing a remarkable surge in the last few days, owing to an announcement made by the management of the company.

    COMSovereign Goes After Naked Short Selling

    COMSovereign Holding Corp. (COMS) has been seeing a significant surge in price since yesterday, which has seen it double its price from $0.06 to $0.12. The catalyst for this sudden surge comes after the management announced its plans to go after and take legal action against the naked shorting of its stock. This form of short selling, which takes place without actually borrowing the stock too short, is an illegal practice. Thereafter, the market rushed into action with the news, with the COMS price trajectory showing all the signs of a short squeeze.

    COMS Undergoing Transformation

    The boost in COMS price comes at a critical junction for the stock, just as the company finds itself in the middle of a crucial transition. With a new CEO and President, David Knight, at the helm of the ship, the company is steering direction toward profitability and growth. One immediate initiative undertaken has been a company-wide streamlining attempt to cut down costs and ensure greater value delivery. Moreover, this has been achieved through downsizing and the elimination of redundancies. COMS’ Israeli Sky Sapience Drone (SSD) unit was recently sold off for a total of $1.8 million. Another focus has been on strengthening the balance sheet, and in particular, lessening the debt burden on the company.

    Conclusion

    COMS stock price is going through a technical price surge after management has vowed to go after naked short-sellers. In the short squeeze seen, COMS has appreciated significantly. Moreover, this update comes at a critical point for the company, as it undergoes a radical transformation towards streamlining and value addition.

  • Here’s why COMSovereign Holding Corp. (COMS) Stock Declining Today

    COMSovereign Holding Corp. (COMS) is a company engaged in the development of telecom solutions for network providers. By merging strategic purchases with the research and development input, the company delivers 4G LTE Advanced and 5G-NR telecom solutions.

    The price of COMS stock during the regular trading on January 20, 2022, was $0.57 with a steep decline of 7.15%. At last check in the current market on January 21, 2022, the stock price was down by 1.84%.

    COMS: Events and Happenings

    On January 21, 2022, COMS reported that its subsidiary is awarded an $8.4 million subcontract from the primary governmental contractor. As a result, the company will provide Winch Aerostat Small Platform and related support programs to the government.

    On January 20, 2022, COMS reported about the receipt of notification from NASDAQ regarding non-compliance with its Listing Rule. The company’s closing bid price of its common shares was less than $1.00 per share for 30 consecutive days.

    On January 11, 2022, COMS reported its initial revenue guidance for the full year 2021. Based upon the review, expected revenue of approximately $6 million for the quarter. So, a rise of approximately 200% in revenue is expected from the same period of 2020.

    On January 6, 2022, COMS reported about the authorization of dividends on its 9.25% Cumulative Redeemable Preferred Stock by management for the month of February 2022. On November 24, 2021, COMS reported that the company’s Executives presented at the Virtual Discover One-on-one Investor Conference held on December 2, 2021.

    On November 17, 2021, COMS reported about the completion of its Over-The-Air trial of Lextrum In-Band Full-Duplex technology. After the completion, the company introduced ASTARA technology for self-interference cancellation applications.

    COMS: Key Financials

    On November 15, 2021, COMS reported its financial results for the third quarter ended September 30, 2021. Some of the key updates are as follows.

    Revenue

    For third-quarter 2021, total revenues recorded were $4.1 million, compared to $2.0 million for the same quarter of 2020. Over the year, a 103% increase in revenue was observed.

    Net Loss per Share

    Basic and diluted net loss for Q3 2021 was $10.6 million or $0.15 per share compared to Q3 2020 which was $10.3 million or $0.23 per share.

    Conclusion

    COMS stock declined 71% from the past six months due to pandemics. Today’s decline in the stock price is because the company is awarded a multi-million-dollar sub-contract from the government. The analysts are assuming that this step will improve the company’s reputation among the investor’s fraternity.