Is It Time To Review Stock News? Senmiao Technology Limited (NASDAQ:AIHS)

Senmiao Technology Limited (NASDAQ:AIHS) spotted trading -87.33% off 52-week high price. On the other end, the stock has been noted 6.25% away from the low price over the last 52-weeks. The stock changed -0.53% to recent value of $0.94. The stock transacted 33953 shares during most recent day however it has an average volume of 108.05K shares. The company has 31.08M of outstanding shares and 9.95M shares were floated in the market.

On Aug. 14, 2019, Senmiao Technology Limited (NASDAQ:AIHS) a provider of automobile transaction and related services and an operator of an online lending marketplace connecting Chinese investors with individual and small-to-medium-sized enterprise borrowers in China, declared its unaudited financial results for the quarter ended June 30, 2019.

First Quarter of Fiscal 2020 Highlights

  • Total revenues increased by 3,975% year-over-year to $5,094,440 from $125,026
  • Gross profit increased by 758% year-over-year to $1,072,128 from $125,026
  • Loss per share decreased by 50% year-over -year to $0.02 from $0.04

We had a great start to our fiscal year 2020 with a strong performance from our automobile transaction and related services business during the first quarter. Thanks to the Ruixi acquisition that gave us a unique opportunity to capitalize on the growing ride-sharing market in 2nd and 3rd tier cities in China, like Chengdu and Changsha, we are very pleased with the continued momentum in automobile transaction and related services, commented Xi Wen, Chairman, Chief Executive Officer and President of Senmiao. With revenues more than doubled and turning a profit from the prior quarter, our automobile transaction and related services continued to drive the overall growth of both top- and bottom-lines of the Company and our strategic transformation from a single revenue stream online lending marketplace to a more diversified financial services company. We are optimistic about the growth prospects of our business and looking forward to improving financial performances in coming quarters.

Its earnings per share (EPS) expected to touch remained 60.80% for this year.AIHS has a gross margin of 38.00%.

According to the most recent quarter its current ratio was 3 that represents company’s ability to meet its current financial obligations. The price moved ahead of -21.36% from the mean of 20 days, -59.30% from mean of 50 days SMA and performed -75.40% from mean of 200 days price. Company’s performance for the week was -9.22%, -37.67% for month and YTD performance remained -75.46%.

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