Buyers are Bidding on Dextera Surgical Inc. (NASDAQ:DXTR) Stock during Pre-Market Trade
Shares of Dextera Surgical Inc. (NASDAQ:DXTR) tumbled -12.74% in morning trade Wednesday. During today’s pre-market trade the stock added 4.48% more to the stock price and at the time of writing the stock was trading at $0.261. 4,000.00 shares were exchanged.
After the market close on August 8, a company developing and commercializing the MicroCutter 5/80™ Stapler, declared financial results for its fiscal fourth quarter and full year ended June 30, 2017.
Fiscal 2017 Fourth Quarter Financial Results:
Total product sales were about $1.0 million for the fiscal 2017 fourth quarter contrast with $0.7 million for the same quarter of fiscal 2016. MicroCutter sales were about $359,000 in the fiscal 2017 fourth quarter with $75,000 in backorders contrast to $516,000 of sales in the third quarter of fiscal 2017. The sequential decrease in MicroCutter product sales is because of a backorder for the blue reload cartridges for a portion of the fourth quarter and a shipping hold at the end of the fourth quarter of fiscal 2017. Total revenue was about $1.1 million for the fiscal 2017 fourth quarter contrast with about $0.7 million for the fiscal 2016 fourth quarter.
Total operating costs and expenses for the fiscal 2017 fourth quarter were $4.0 million, contrast with $4.8 million for the same period of fiscal 2016. Cost of product sales was about $1.0 million for the fourth quarter of fiscal 2017 contrast with $1.1 million for the same period of 2016. Research and development expenses were $1.4 million for the fiscal 2017 fourth quarter, contrast with $1.5 million for the fiscal 2016 fourth quarter. Selling, general and administrative expenses were $1.5 million for the fiscal 2017 fourth quarter contrast with $2.2 million for the comparable period of fiscal 2016. Total Operating cost and expenses in the fourth quarter included a reversal of accrued incentive compensation expense of about $0.5 million.
The net loss for the fiscal 2017 fourth quarter before the deemed preferred stock dividend was about $3.1 million. In Addition To, net loss applicable to common stockholders included a deemed (non-cash) preferred stock dividend of $4.0 million, representing the value of beneficial conversion rights embedded in the preferred shares issued in the company’s recently accomplished convertible preferred stock public offering. This amount was determined as the difference between fair value of common stock into which preferred shares are convertible and the proceeds of the financing allocated to the preferred shares. The total net loss attributable to common stockholders for the fiscal 2017 fourth quarter was $7.0 million, or $0.40 per share. Net loss attributable to common stockholders for the fiscal 2016 fourth quarter was about $4.2 million, or $0.47 per share.
Cash, cash equivalents and investments, as of June 30, 2017, were about $6.0 million, contrast with about $2.5 million at March 31, 2017. This includes $6.7 million in net proceeds raised through a public equity offering in May 2017. As of June 30, 2017, there were about 40.3 million shares of common stock outstanding, which includes the conversion of all formerly outstanding Series A convertible preferred stock and all but 273 shares of the Series B convertible preferred stock.
The stock attained the volume of 5268088 shares contrast to its average daily volume of 6.56M shares. Trading volume is an important technical indicator a shareholder uses to confirm a trend or trend reversal. It is generally higher when the price of a security is changing, as the strength of any given price movement is measured mainly by the volume and shifts in trade volume can make observed price movements more significant. News about a company’s financial status, products, or plans, whether positive or negative, will typically result in a temporary increase in the trade volume of its stock. Higher volume for a stock is also an indicator of higher liquidity in the market. For institutional shareholders who wish to sell a large number of shares of a certain stock, lower liquidity will force them to sell the stock slowly over a longer period of time, to avoid losses because of slippage. The stock, as of recent close, has shown weekly upbeat performance of 3.310% which was maintained at -13.78% in 1-month period, and is down -73.954% in this year. The company now has a market value of $2.23M.
The stock, after recent close, is -1.54% below their SMA 50 and -4.637% from SMA20 and is -73.23% below than SMA200. 38.1% shares of the company were owned by institutional investors. The company has 0.7197 value in price to sale ratio while price to book ratio was recorded as -. It beta stands at -0.9596.
The average 12 month target price among brokers that have covered the stock in the last year is $-. Analyst mean recommendation for this stock stands at 2. Analyst recommendations as stated on FINVIZ are rated on a 1 to 5 scale. 1 is equivalent to a buy rating, 3 a hold rating, and 5 a sell rating. The consensus recommendation is the average rating on a stock by the analyst community.
