Tattooed Chef (NASDAQ:TTCF) stock is heating up on Wednesday after the release of the company’s earnings report for the third quarter of 2021.
Let’s dive into that news below to see what has TTCF investors excited today!
- It’s not entirely clear why traders are boosting shares of TTCF stock today.
- While earnings came out, they weren’t exactly inspiring.
- That includes the company’s diluted losses per share of 10 cents missing Wall Street’s estimate of -5 cents.
- On the bright side, it’s at least better than the -11 cents per share reported during the same time last year.
- It’s a similar story for revenue, which came in at $58.78 million during Q3 2021.
- That’s below analysts’ revenue estimate of $60.95 million for the period.
- Even so, it’s still a 43.5% increase over the $41 million reported in the same period of the year prior.
- The company’s outlook for the full year of 2021 also doesn’t bring anything positive with it.
- TTCF is expecting revenue for the year to range from $210 million to $215 million.
- While that would be a 41% to 45% jump from 2020 revenue, it would still miss Wall Street’s estimate of $239.4 million.
- Despite all of this negative news, TTCG stock is gaining today alongside heavy trading.
- As of this writing, more than 4 million shares of the stock have changed hands.
- That’s well above the company’s daily average trading volume of about 1.6 million shares.
- It’s possible today’s positive movement for TTCG stock comes as investors buy shares after yesterday’s dip in price.
- That would help explain the rising price, as well as the heavy trading.
TTCF stock is up 13.6% as of Wednesday morning but is down 23% since the start of the year.
There’s more stock market news to take a look at below!
InvestorPlace has all the latest stock news for Wednesday that traders need to know about. Among that is what’s happening with shares of Mullen Automotive (NASDAQ:MULN), Naked Brand (NASDAQ:NAKD), and Elektros (OTCMKTS:ELEK) today. You can find all of that info at the following links!
More Wednesday Stock Market News
- MULN Stock: 15 Things for EV Investors to Know About Newly Public Mullen Automotive
- NAKD Stock: What Is Going on With Naked Brand Today?
- ELEK Stock Alert: Why Is Little-Known Elektros Rocketing Higher?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.