When Axesstel, Inc. (PINK:AXST) announced its financial results for the third quarter of 2011, AXST stock made a big jump. So big that it immediately surpassed the 50-day MA, thus forming an uptrend which continues to this day.
Although the last couple of sessions have not been among the most successful ones for AXST, they have barely impacted the positive trend the company’s stock has been following for four months already. Yesterday, in particular, AXST gained 2.5% in value, which is exactly what it had lost the day before. As a consequence, AXST closed trade at $0.40 per share. However, what distinguishes the latest session from previous ones is the unusual spike in volume as more than 356 thousand shares of common AXST stock changed hands, i.e nearly 7 times as high as the daily average trading volume.
AXST is by no means a regular news provider as it has not issued any official PRs for more than 5 weeks. In fact, the company’s latest news dates from Dec. 7 when the provider of fixed wireless voice and broadband access solutions announced it would take part in the LD Micro Conference the day after. No feedback appears to have come up following the presentation.
The third quarter of the 2011 fiscal year marked an important milestone for AXST as the company managed to secure a net income of $1.3 million. By contrast, AXST closed each of the three preceding quarters incurring losses of $687K, $539K and $2.4M, respectively. Yet, the situation does not look so bright when it comes to other financial indicators such as the current ratio, for example. The latter has been varying between 0,4 and 0,5 for the last 12 months, which unambiguously suggests that the company would only be able to pay half of its obligations if they came due right now.
Nevertheless, realizing a positive net result, be it on a quarterly or annual basis, is definitely a step into the right direction which, if multiplied in the future, could eventually get the company out of the red.
