OCZ Technology Group Inc’s (NASDAQ:OCZ) stock on Wednesday plunged after the flash memory provider announced disappointing results in its fiscal Q1, partially due to supply chain issues.
The flash memory provider OCZ reported on Tuesday that it lost $6.3 million or 9 cents a share during the quarter finished May 31, narrower than its loss of 9.1 million or 20 cents a share in previous year.
OCZ reported that it lost 17 cents a share in the most recent three months without special items. FactSet analysts were anticipating a smaller loss of 12 cents a share.
The company reported that revenue moved up 54% to $113.6 million while analysts anticipated revenue of $115.7 million.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. STEC, Inc. (NASDAQ:STEC) increased +0.63% to settle at $7.97, SanDisk Corporation (NASDAQ:SNDK) moved down -1.93% to end at $33.99 while Western Digital Corp. (NASDAQ:WDC) plunged -1.59% to finish on Wednesday at $31.50.
OCZ Technology Group Inc. (NASDAQ:OCZ) last session volume of 12.62 million shares was higher than its average volume of 2.01 million shares. The stock after opening at $4.53 hit high price of $4.70 and then closed at $4.50 by scoring -17.43%.
OCZ generated revenue of 365.77 million in the following twelve months and earned -$17.67 million. The Company showed a negative -4.83% in the net profit margin and as well as in its operating margin which remained -3.26%. Company’s quarterly sales growth was +71.05%.
The OCZ past twelve months price to sales ratio was 0.83 and price to cash ratio remained 3.30. As far as the returns are concern, the OCZ return on equity was recorded as -13.61% and dropped -12.60% return on investment while its return on asset stayed at -7.89%.
The stock showed weekly downbeat performance of -28.23% which was maintained for the month at -8.91%. Likewise the negative performance for the quarter was recorded as -32.84% and for the year was -54.86% while the YTD performance remained at -31.92%.
DO NOT TRADE ANY STOCK WITHOUT LEVEL 2 STOCK QUOTES! QuoteDaddy.com delivers it's user with the most in-depth Level 2 Quotation System available on the Planet! NO Downloads, NO Widgets, NO Plugins required! Stay on TOP of your trades with QuoteDaddy.com! CLICK HERE TO START YOUR FREE 30-DAY TRIAL