On February 11, shares of Regis Corporation (RGS) became bearish in the after-hours to lose 5.17%. There was no official announcement or SEC filing from the company behind the downfall.
During the regular session, the stock saw a high of $1.75 and closed the session just below the day’s high at $1.74. Hence, RGS stock gained 3.57% or $0.06 during the regular trading session. The stock suffered a reversal in the after-hours as it entered a downtrend with a loss of 5.17% or $0.09. Thus, the stock had a value of $1.65 per share in the after-hours on Friday.
The beauty salons franchise operator, Regis Corporation has a market capitalization of $79.15 million with 45.49 million shares outstanding.
RGS stock Movement
On February 02, the company declared its Q2 fiscal 2022 financial results. The company filed a Form SC 13G on February 04, following which it filed an amendment to the form on February 09, 2022. There has been no official announcement or SEC filing since then.
RGS stock has been on a rollercoaster ride recently. The stock has been going up and down, probably due to some external factors. With no recent news, the stock made some gains on Friday which was shed in the after hours. Social media chatter or stock sentiment might responsible for the latest movements.
So far, the stock has added 19.18% in the past five days while it increased by 17.57% last month. Moreover, the stock declined by a huge 83.52% last year while its flat year to date with 0.00% change.
Q2 Fiscal 2022 Results
The company’s fiscal second quarter of 2022 ended on December 31, 2021.
In Q2 fiscal 2022, RGS generated total revenue of $70.3 million with a decline of 32.7% year over year.
Moreover, the company incurred a net loss of $4.9 million in Q2 fiscal 2022, against $32.9 million in the prior-year quarter. Thus, the net loss per diluted share was $0.11 and $0.92 in the fiscal second quarter of 2022 and 2021, respectively.
Additionally, the reported adjusted EBITDA for the quarter was $2.4 million against a loss of $17.5 million in the year-ago period.
RGS’ Leadership Changes
On December 23, the company announced the resignation of Felipe Athayde, President and Chief Executive Officer of RGS. Subsequent to this, the company’s Executive VP & Chief Strategy Officer, Matthew Doctor was appointed as the Interim CEO. Furthermore, Mr. Athayde will be an employee and board member of the company till March 19, 2022.
