Akers Biosciences Inc (NASDAQ:AKER) is seeing some dramatic swings and beating back bears this week. AKER is up 68% over a month and 46% over the last ten days. The company is healthcare technology company that sells diagnostic tests including its flagship BreathScan, a disposable breath alcohol detector. The technology is reinforcing one of the biggest trends in healthcare: self-diagnosis. The trend is receiving a lot of market attention as people across the country look to avoid the doctor’s office and hospital as costs rise. The Health Tech sector is rising as more and more digital solutions are being made available for those who would like to understand their health outside of the doctor’s office or clinic.
AKER’s products include BreathScan PRO, a quantitative breath alcohol detection system; METRON, a disposable breath ketone device to monitor ketosis; and BreathScan Lync® reader, a non-invasive, quantitative measurement of biological markers for health and wellness.
Akers Biosciences Inc (NASDAQ:AKER) develops, manufactures, and supplies rapid screening and testing products designed to deliver quicker and more cost-effective healthcare information to healthcare providers and consumers. The Company has advanced the science of diagnostics while responding to major shifts in healthcare through the development of several proprietary platform technologies. The Company’s state-of-the-art rapid diagnostic assays can be performed virtually anywhere in minutes when time is of the essence. The Company has aligned with major healthcare companies and high volume medical product distributors to maximize product offerings, and to be a major worldwide competitor in diagnostics.
Also, Akers has a pipeline of diagnostic, testing, and wellness products to offer, including Heparin-Induced Thrombocytopenia and PF4 Antibodies, as well as the BreathScan Lync® reader, an optical scanning device that reads and interprets breath test data.
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AKER has also garnered its own attention in the market during recent weeks. Bigger Capital Fund LP has filed a new 13G, reporting 8.0% ownership in Akers. The company recently announced the closing of its previously announced underwritten public offering, for total gross proceeds of $6,900,000.
Prior to this, AKER released earnings for Q3 and here are those highlights:
- Summary numbers: Revenues of USD 0.68 million, Net Earnings of USD -1.18 million.
- Gross margins narrowed from 54.42% to 45.80% compared to the same period last year, operating (EBITDA) margins now -165.14% from 66.75%.
- Year-on-year change in operating cash flow of 5.03% is about the same as the change in earnings, likely no significant movement in accruals or reserves.
- Narrowing of operating margins contributed to decline in earnings.
Akers Biosciences Inc (NASDAQ:AKER) has a 19.07M market cap and a float of 9.73M. AKER is working with some strong tech but has seen limited growth in the past. Furthermore, the company has been known for volatility. We will be updating readers as more information comes out here. Sign-up for continuing coverage on shares of $AKER stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $AKER, either long or short, and we have not been compensated for this article.