InnSuites Hospitality Trust (IHT) stock prices were down by 0.28% as of the market closing on October 21st, 2021. This brought the price per share down to USD$3.50. Subsequent premarket fluctuations saw the stock rise by 16.57%, bringing it up to USD$4.08.
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Promising Financial Report
October 20th 2021 saw IHT stock report a substantial increase in Hotel Operation earnings over the course of the second quarter of fiscal 2022, as well as the first half of fiscal 2022. Furthermore, the company’s efficient clean energy innovation diversification investment targets its first prototypes that are being developed since January 2020. These investment targets are expected to be in operation within the next six months. The company reported profits in the amount of USD$401,564 for the second quarter of fiscal 2022. This is an increase of more than USD$1.6 million from the USD$1,267,385 loss reported for the prior-year quarter. Accordingly, earnings per share based on this consolidated net income came out to USD$0.04 per share, up from the loss per share of USD$0.14 per share.
IHT Stock’s Revenue Report
Revenues for the second quarter of fiscal 2022 were reported at roughly USD$1.7 million. This represents an increase of more than 81%, or USD$750,000, from the revenues reported for the prior-year quarter in the amount of roughly USD$925,000. The significant year over year increase in revenues and earnings was largely driven by the continuation of the strong start exhibited by the Trust’s operations in the current fiscal 2022 year. Further consolidating the yearly increase were the decreased impacts of the Covid-19 pandemic, and lower travel restrictions.
Collaboration with UniGen
IHT stock has made a diversification investment of more than USD$1 million in the privately held UniGen Power. Unigen develops patented, high-profit potential, efficient clean energy generation innovation. The partnering company’s profit potential is substantial, evidenced by its current pursuit of three additional valuable patents. The investment comes in the form of convertible bonds and warrants that have the potential to result in IHT acquiring a 25% ownership stake in Unigen.
Future Outlook for IHT Stock
IHT stock is keen to maintain the momentum it has generated over the first half of fiscal 2022, as evidenced by its strong financial reports. The company is poised to capitalize on the expanded scope of opportunities afforded to it as a result of its recent developments. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal. This is hoped to facilitate consistent and organic increases in shareholder value.
