Advent Technologies Holdings Inc. (ADN) has advanced 11.34% at $2.65 in pre-market trading hours on the last check Wednesday. Advent Technologies (ADN) stock gained 5.78% to complete the last trading session at $2.38. The price range of the company’s shares was between $2.25 and $2.42. It traded 0.99 million shares, which was above its daily average of 0.53 million shares over 100 days. ADN’s shares have dropped by -20.13% in the last five days, while they have lost -8.11% in the last month. ADN stock is keeping the momentum that has started after the release of its quarterly results.
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How ADN has performed in the reported quarter?
Advent Technologies (ADN) is a U.S. organization that creates, makes, and gathers total power module frameworks, and the basic parts for power modules in the environmentally friendly power area. Advent is settled in Boston, Massachusetts, with workplaces in California, Greece, Denmark, Germany, and the Philippines. With in excess of 100 licenses given for its power device innovation, ADN holds the IP for cutting edge HT-PEM that empowers different fills to work at high temperatures and under outrageous circumstances – offering an adaptable “Any Fuel. Anyplace.” choice for the auto, avionics, safeguard, oil and gas, marine, and power age areas.
Advent Technologies (ADN) on Monday declared consolidated financial results for the three months finished on December 31, 2021.
Q4 2021 Financial Highlights
- Advent’s revenue surged by 714 percent year over year, owing to growing customer demand for Advent’s products across the board as well as the acquisitions of UltraCell, SerEnergy, SerEnergy Philippines, Inc., and Fischer eco-solutions.
- ADN’s operating expenses in the reported quarter were $16.3 million, up to $14.4 million years over year, owing to costs associated with the Company’s accelerated growth from acquired businesses; increased staffing, and costs associated with operating as a public company; higher R&D costs; and incentive and stock-based compensation expenses.
- Advent reported a net loss of $(9.0) million, with an adjusted net loss of $(15.9) million.
- The change in the fair value of outstanding warrants resulted in a $6.9 million gain in an adjusted net loss.
- Advent’s net loss per share was $. (0.18).
- ADN’s cash reserves were $79.8 million as of December 31, 2021, down $12.7 million from September 30, 2021, due to higher R&D, administrative, and selling expenditures.
How does ADN see its performance?
The strong income development versus the earlier year verifies the plan of action of Advent Technologies (ADN), while the solidification of the tasks of UltraCell, SerEnergy, SerEnergy Philippines, and Fischer eco arrangements has sped up our development and concentration across the worth chain from energy unit parts to power module frameworks. ADN is seeing solid interest for its items across the versatile and fixed off-framework power showcases and stays certain that it is on a firm way for development.