Shares of the Technologies, Inc. (VISL) stock were declining in the premarket trading session today on October 26, 2021.VISL stock price saw a downtrend of 8.92% to drop at $1.94 a share at the time of this writing. The stock was green in the previous trading session and went up by 33.96% at closing. Let’s understand the reason behind this fall.
There is no major culprit associated with VISL stock to justify the bearish sentiment so far. No announcement or press release by Vislink Technologies has been announced. No analysts’ downgrades or decreased targeted per share price of the VISL stock has been reported in recent times. It seems that profit-takers stepped in after a significant rise in the per-share price of Vislink stock in the last trading session.
Vislink Technologies, Inc, founded in 2002, provides solutions related to the design and development of wireless communications across the globe. The stock has a market cap of $ 97.421 million and a 1,251,229 average trading volume.
Launch of Vislink Connect:
On October 18, 2021, VISL stock announced the launch of Vislink Connect™ which is the premium bonded cellular service for the robust, reliable, and economical transmission for the production of live video. The service is currently only available to U.S customers and is expected to begin rollout in the next month. The key features of the service are given below
- It provides all-IP-based workflows for REMI production.
- The service is reliable and capable enough to provide premium quality video.
- It requires no upfront hardware charges.
- Its purpose-built management portal provides real-time usage monitoring.
- 24/7 dedicated worldwide support is available.
VISL stock to attend CABSAT 2021:
VISL stock and Mobile Viewpoint will attend the CABSAT 2021 taking place at Dubai World Trade Center from October 26, 2021, to October 28, 2021. This will be the first in-person, co-branded Vislink/Mobile Viewpoint trade event since VISL stock acquired Mobile Viewpoint in August 2021. This event is an opportunity for both firms to showcase their all-IP wireless streaming solutions for automated news and sports productions.
Financial View of VISL stock:
According to the second quarter of 2021 financial results, VISL stock generated $7.6 million in revenue. Gross margins for the second quarter were 52.8% of revenue and net loss attributable to common shareholders was $834,000. The stock ended the quarter with $55.5 million in cash and cash equivalents.
After enjoying significant bull in the previous trade, VISL stock has now become red in the premarket today. Investors having long-term prospects usually don’t mind the short-term bulls and bears rather they focus on the company fundamentals and overall developments in the future.