On 18thNovember’14, BrilliantPennyStocks.com initiated coverage on UBIQ. The stock moved up by 40.48% till now since the coverage was initiated.
Shares of Ubiquity Inc (OTCBB:UBIQ) are moving up sharply as it is trading up by 35% at $1.21 with above average volumes of 90,143 shares exchanging hands in current trading session compared to 30-day average volume of 68,044 shares.
From the above chart it can be seen that Ubiquity Inc (OTCBB:UBIQ) has a nice buy signal and how the volume had picked up slowly and steadily ever since BPS initiated coverage on the stock. The stock is expected to face minor resistance at its 20-Day EMA of $1.63. Momentum indicator RSI stands at 32.03 and is trending upward which is in line with the price rise which is seen in the stock.
The company recently posted strong financial results with about 6.7% YoY revenue growth to $62,735 during the first nine-month period of 2014. However, higher fixed costs resulted in nearly 27% YoY increase in cost of sales to $140,814 for the nine months ended September 30, 2014. The increase in fixed costs was related to increase in personnel.
Ubiquity Inc (OTCBB:UBIQ)’s gross profit increased substantially during nine months of 2014 to $171,921 as compared to gross loss of $(52,136) during the same prior year period. The increase was attributed to licensing of patents and technologies rights to related party. Excluding the related party transaction, the company reported gross loss of $(78,079) for nine months of 2014.
Ubiquity posted 117% increase in operating expense to $13.34 million during nine months of 2014 as compared to $6.15 million during the same prior year period. The increase was largely attributed to higher stock-based compensation, payroll expense, professional fees, and legal costs.