Earnings

Stock Earnings Alert: Rennova Health Inc (NASDAQ:RNVA)

Shares of Rennova Health Inc (NASDAQ:RNVA) fell -9.71% to reach at $0.280 during the course of session. The company has experienced volume of 3.86M shares while on average the company has a capacity of trading 3.93M shares.

Rennova Health Inc (NASDAQ:RNVA) on August 15, 2016  reported financial results for the three and six months ended June 30, 2016, and provides a business update.

Business highlights for the second quarter of 2016 and recent weeks include:

  • Converted approximately $2.0 million of liabilities into equity in August 2016
  • Signed an agreement with Academy Medical to provide laboratory services to U.S. federal government customers in July 2016
  • Completed a public equity raise totaling $8.6 million in gross proceeds in July 2016
  • Acquired Hartford Healthcare Corporation’s interest in Genomas, Inc., a laboratory based in Connecticut that specializes in pharmacogenomics
  • Entered into a preferred provider network agreement with Three Rivers Provider Network
  • Added electronic medication management functionality (eMAR) to the Company’s flagship M2Select electronic health record (EHR) product

Financial highlights for the second quarter of 2016 compared with the first quarter of 2016 include:

  • Net revenues of $3.1 million, compared with $1.9 million
  • Clinical Laboratory Operations net revenue of $2.5 million, compared with $1.5 million
  • Supportive Software Solutions net revenues of $0.6 million, compared with $0.5 million
  • Decision Support and Informatics net revenues of $0.2 million, compared with $0.2 million
  • Gross margin of 87.2%, compared with 70.0%

Financial highlights for the second quarter of 2016 compared to the second quarter of 2015 include:

  • Net revenues of $3.1 million, compared with $9.4 million
  • Clinical Laboratory Operations net revenue of $2.5 million, compared with $8.9 million
  • Supportive Software Solutions net revenues of $0.6 million, compared with $0.9 million
  • Decision Support and Informatics net revenues of $0.2 million, compared with no revenue
  • Gross margin of 87.2%, compared with 71.6%

Rennova Health Inc (NASDAQ:RNVA) holds the market capitalization of $9.30B along with 34.00M outstanding shares. During the last trade, stock’s minimum price has been reached out at $0.27 while the maximum trading price moved at $0.34. For the stock, price target value has been calculated at $18.50 based on calls of 1 experts. Stock’s minimum price target estimates has been figured out at $18.50 while the maximum price target forecast is established at $18.50. Currently the stock price is moving -96.60% off from the highest level of twelve months and +27.27% above from twelve months low. Rennova Health Inc (NASDAQ:RNVA) marked highest price level of $8.00 on 09/21/15 and lowest price level of $0.2156 on 07/21/16.

As of current trade, Rennova Health Inc (NASDAQ:RNVA) has shown weekly downbeat performance of -9.68%. Its six months performance indicated a bearish movement while its yearly performance reflected a negative trend of -94.17%. Year-to-date (YTD) performance of the stock illustrate downbeat trend of -79.26%. Shares of Rennova Health Inc (NASDAQ:RNVA) currently have an ABR of 3.00, derived from a total of 1 opinions. The company’s price sits -44.42% below from its 50-day moving average of $0.38 and -76.91% below from the stock’s 200-day moving average of $0.63. The company has Relative Strength Index (RSI 14) of 40.23 along with Average True Range (ATR 14) of 0.06. Its weekly and monthly volatility is 20.93%, 15.97% respectively. The company’s beta value is at 0.33.

Rennova Health Inc (NASDAQ:RNVA)’s price to sales ratio for trailing twelve months is 0.49. Rennova Health Inc (NASDAQ:RNVA)’s quick ratio for most recent quarter is 0.80 along with current ratio for most recent quarter of 0.80. Rennova Health Inc (NASDAQ:RNVA) has a Return on Investment of -334.80%.

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