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.
