Momentum Stock in Focus: CynergisTek, Inc. (NYSE: CTEK)

On Friday, CynergisTek, Inc. (NYSE: CTEK) shares price traded between $4.70 and $4.78 during the last trading session downbeat with -0.62% at $4.78. The shares recorded a trading volume 6,335 shares as compared to its average volume of 18,763 shares. The company has 9.83M shares outstanding and market value of 46.717M. Over the one year trading period, the stock has a peak price of $5.00 and its down is recorded at $3.23. The short ratio in the CTEK stock is 0.86 and the short float is around of 0.21%.

CynergisTek, Inc. (NYSE: CTEK), recently reported financial results for the first quarter ended March 31, 2019.

Revenue increased by about $1.4M to $5.8M for the three months ended March 31, 2019, as contrast to the same period in 2018.

Cost of revenue was $3.5M for the three months ended March 31, 2019, as contrast to $2.4M for the same period in 2018.

Sales and marketing expenses were $1.5M for the three months ended March 31, 2019, as contrast to $1.4M for the same period in 2018. General and administrative expenses reduced to $1.7M for the three months ended March 31, 2019, as contrast to $2.2M for the same period in 2018.

GAAP net loss from continuing operations for the first quarter was ($1.5M), or ($0.15) per basic and diluted share contrast to a net loss of ($1.9M), or ($0.19) per basic and diluted share for the same period of 2018. GAAP net income for the first quarter, after adjustment from income from discontinued operations, including gain on sale, net of tax, was $17.5M, or $1.81 per basic and $1.77 per diluted share contrast to a net loss after adjustment from income from discontinued operations, net of tax of ($0.7M), or ($0.19) per basic and diluted share for the same period of 2018.

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