FAMI Stock: Why Farmmi Investors Are Digging the Chinese Ag Supplier Today

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Farmmi (NASDAQ:FAMI) stock is on the rise Thursday as investors react to the Chinese agriculture supplier’s most recent earnings report.

FAMI stock: Tractor spraying pesticides on soybean field with sprayer

Source: Shutterstock

That earnings report includes the company’s results for the full year of 2021. This has it posting revenue of $39.29 million. That’s a 38.5% increase over the company’s revenue of $28.36 million for the full year of 2020.

The shitake mushroom grower and seller also brought in a net income of $2.36 million for 2021. That’s a massive 187.8% jump from the company’s net income of $820,000 reported during the prior year.

If there’s one place where Farmmi slipped it’s the company’s diluted earnings per share. This came in at 2 cents per share, which is a drop from the company’s diluted per-share earnings of 7 cents in the previous year.

Yefang Zhang, chairwoman and CEO of Farmmi, said the following in the earnings report sending FAMI stock higher today.

“We drove significant improvements in our financial results, while also launching a diversification initiative that will be key to our longer term success. We are benefitting from a higher order volume and expanded relationships because we have been able to secure the quality agricultural products customers want at scale, helped by our end-to-end supply chain. We expect this business momentum will continue into the New Year, which will help us further grow our sales.”

Heavy trading of shares also comes with the positive earnings report today. That has some 72 million units of FAMI stock on the move as of this writing. For comparison, the company’s daily average trading volume is about 40.3 million shares.

FAMI stock is up 15% as of Thursday morning.

There’s more hotstock market newsfor investors to sink their teeth into below!

We’ve got all thelatest stock market newsfor hungry investors on Thursday. That includes what’s happening with Netflix (NASDAQ:NFLX) stock, why airline stocks are rising, as well as a breakdown of Nio (NYSE:NIO) shares. You can find all of that at the following links!

More Thursday Stock Market News

Is NIO Stock a Buy? Here’s What 5 Analysts Think About Nio Price Predictions.

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.

With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that  InvestorPlace.com’s writers disclose this fact and warn readers of the risks. 

Read More: Penny Stocks — How to Profit Without Getting Scammed

The post FAMI Stock: Why Farmmi Investors Are Digging the Chinese Ag Supplier Today appeared first on InvestorPlace.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.