The stock of Farmmi Inc (FAMI) closed the recent trading session at $0.1652, losing 4.73% from the previous trading session. On the last check, the stock remained bearish in the pre-market, losing 9.2% to $0.15. The stock kept moving between $0.16 and $0.18. The company reported the closing of a private placement. FAMI also filed form 6-K with SEC on 2 March 2022.
Farmmi Inc is an organization that cycles and sells agrarian items. It develops and showcases shiitake and wood ear mushrooms and other consumable fungi items. These include bamboo growths, chestnut mushroom, trumpet royale, and lion’s mane mushroom. Further, the firm has a market capitalization of $92.15 million with 557.78 million pending shares. FAMI has its headquarter in Lishui, Zhejiang, China.
FAMI News
On 2 March 2022, FAMI declared the closing of its private placement agreement. The firm acquired the total amount of $6 million by selling 30 million common shares of the company. Further, the price of each stock was $0.20.
Also, on 1 March 2022, FAMI declared to export the recent order of Shiitake mushrooms to the United States of America (USA). The CEO of FAMI, Yefang Zhang, stated that this is one more pleasant win for their sales group, as they influence their image and inventory network to catch extra learning experiences in key business sectors around the world. She added that the U.S. addresses a significant market, where purchasers have been willing to join fungi into their eating regimens and ways of life. Moreover, Ms. Zhang concluded that they see more space to run in the U.S, as they work to decisively build the volume and size of the orders.
Financials
FAMI published the fiscal performance for FY2021. The highlights of fiscal performance are
- The total sales in FY2021 expanded by 38.54% to $39.29 from $28.36 in FY2020.
- The company had a profit of $5.11 million in FY2021 versus $4.65 million in FY2020. Moreover, this marks an increase of 9.8%.
- The EPS of 0.02 in FY2021 compared to $0.07 in FY2020.
