Wednesday, June 29, 2022

Mercurity Fintech Holding Inc. (NASDAQ:MFH) on the Path to Profitability

The Mercurity Fintech Holding Inc. (MFH) shares are trading at higher $3.00.

To add more color to this target, the company’s high over the last year is $3.40 and the low is $1.00. Over the last 52 weeks, MFH is down -11.76% while the S&P 500 is down -0.56%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, MFH reported a profit of $0.46 million. Mercurity Fintech Holding Inc. also saw revenues increase to $0.58 million. In addition, MFH has free cash flow of $0.0 as of 09-2019 The company’s EBITDA came in at $0.38 million which compares well with its peers.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. MFH has outstanding shares of 2.44M.

Company Outlook

MFH has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.57 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -20.91. Mercurity Fintech Holding Inc. MFH also noted assets of $8.17 million at the end of the last quarter. Investors should also keep an eye on sector updates as MFH has historically followed its peers on positive news.

All told, Mercurity Fintech Holding Inc. MFH has strung together solid data and demonstrated underlying fundamentals. At its current valuation, MFH represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Mercurity Fintech Holding Inc. MFH is now commanding a market cap of 19.59M and a float of 0.02M. MFH is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of MFH stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in MFH, either long or short, and we have not been compensated for this article.

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