Farmmi (NASDAQ:FAMI) spotted trading -85.08% off 52-week high price. On the other end, the stock has been noted 3.16% away from the low price over the last 52-weeks. The stock changed -4.94% to recent value of $0.75. The stock transacted 68066 shares during most recent day however it has an average volume of 59.31K shares. The company has 11.93M of outstanding shares and 2.94M shares were floated in the market.
On Dec. 31, 2019, Farmmi (NASDAQ:FAMI) an agriculture products supplier in China, released its financial results for the fiscal year ended September 30, 2019.
Ms. Yefang Zhang, Farmmi’s Chairwoman and CEO, stated, Fiscal year 2019 was a very successful year for Farmmi as we continued to execute on our long-term growth plan, further establish our brand and build the foundation for our future success. Overall revenues would have been higher absent the impact of the depreciation of the RMB against the U.S. dollar. We are very encouraged with the ongoing expansion of our online sales platform, which accounted for over 20% of total sales in the fiscal year 2019, representing an increase of more than 83% over the fiscal year 2018. Our success in developing an effective online sales platform positions us for accelerated domestic growth as we are directly aligned with the shift in Chinese consumers purchasing higher volumes of products like ours both online and in brick and mortar stores. This will also make our products accessible in international markets with the click of a mouse.
Ms. Zhang continued: We achieved a significant improvement in gross margin to 17.58% in fiscal year 2019 from 16.99% in fiscal year 2018, as we benefited from higher online sales combined with strategic programs targeting both pricing and operating costs. We benefited from relatively stable unit prices for Shiitake, which was partially offset by unit price declines for Mu Er. The pricing dynamic is a function both the overall supply dynamics and our deep understanding of the edible fungi market, constant market research, and communication with our key suppliers. As a result, we have been able to obtain favorable prices for premium quality raw materials. We are also pleased with our progress in further developing relationships with key partners, both major suppliers and family farms. We are benefitting from growth in orders across all channels, but have higher confidence given the strong, multi-year relationships we have with some of China’s largest exporters that can fuel our growth. Overall, we are encouraged with our progress but have much work ahead of us as we continue to leverage our premium product quality, highly experienced employee base, local production facilities and strong supply chain relationships. Our team is focused and we remain dedicated to building value for the Company and shareholders.
Its earnings per share (EPS) expected to touch remained 0.50% for this year. FAMI has a gross margin of 17.70% and an operating margin of 10.30% while its profit margin remained 5.90% for the last 12 months.
According to the most recent quarter its current ratio was 3.6 that represents company’s ability to meet its current financial obligations. The price moved ahead of -21.18% from the mean of 20 days, -39.81% from mean of 50 days SMA and performed -59.02% from mean of 200 days price. Company’s performance for the week was -7.41%, -39.02% for month and YTD performance remained -81.53%.
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