On March 14, shares of Tian Ruixiang Holdings Ltd. (TIRX) continued to rise in the after-hours while it also remained bullish in the regular session. The latest news from the company was fiscal 2021 results, announced on March 07.
During the regular trading session, TIRX remained bullish as 489.28K shares exchanged hands. The volume of the shares exchanged was above the average at 190%. The stock closed the session in the green with a gain of 9.52% at a price of $0.92 per share. TRIX advanced further in the after-hours to reach a value of $1.00 per share. Thus, the stock added a further 8.70% in the after-hours on Monday.
The insurance products provider, Tian Ruixiang Holdings Ltd. has a market capitalization of $6.78 million with 11.65 million outstanding shares.
TIRX’s Movement
On March 07, the company reported its financial results for fiscal 2021. Following this, the stock entered a downtrend that continued till March 11. The stock closed Friday’s session just above its 52-week low at $0.84. Since there is no recent news after the earnings report, it seems the low price ultimately caused the stock to rebound on Monday. Most likely, the low price was taken as a good purchase opportunity by investors to stock up. Thus resulting in a bullish momentum on Monday which continued into the after-hours as well.
TIRX currently stands at a year-to-date loss of 44.91%. The stock subtracted a huge value of over 98.9% in the past year.
Fiscal 2021 Results
For the fiscal year ended on October 31, 2021, TIRX reported a 14.1% YOY decline in revenue to $2.79 million.
Moreover, the company incurred a net loss of $1.94 million in fiscal 2021, against a net income of $0.63 million in the previous year. Resultantly, the company had a net loss of $0.23 per share in fiscal 2021, against a net income of $0.13 per share in fiscal 2020.
At the end of the year, the company’s cash and cash equivalents totaled $30.02 million while the total working capital was $30.51 million. This compares to cash and cash equivalents of $6.14 million and working capital of $8.27 million for fiscal 2020.
TIRX’s 2021 Performance Incentive Plan
On December 08, the company announced the adoption of a performance incentive plan for motivating and rewarding eligible employees based on their performance. TIRX registered 5,000,000 Class A ordinary shares with the SEC for issuance under the 2021 Plan.
