China HGS Real Estate Inc. (NASDAQ:HGSH) released its filings for the 2017 fiscal year, which caused the company’s stock to boom by 144%.
As you may have guessed, China HGS Real Estate is a real estate company, specifically one that focuses on the development, construction, and sale of residential apartments, car parks, and commercial properties. The company is located in Hanzhong City, China. The company has had a fairly stable, but quiet, year, with a 52-week range of $1.18 to $4.48 – although the higher levels of this range appear to be coming mostly from today. In the past 12 months, the stock has hovered in the $1 range.
At the time of writing, China HGS stock is trading at $3.05, which puts it up $1.80, or 144%, from yesterday’s close of $1.25. The stock has peaked, so far, at $4.30. The stock is still actively on the move, but I don’t imagine it will reach $4 again today.
What was so exciting about China HGS’ 2017 fiscal year that is making this stock such a hot mover on the market today? No doubt it’s because of the immense improvements these results depict compared to the 2016 fiscal year. The company reported total revenues for the 2017 fiscal year at around $58.7 million, which is about 45% up from the reported $40.6 million in the 2016 fiscal year – an amazing improvement. News like that is encouraging to investors; it means the company must be doing something right and it’s been doing that something for enough time that it would have an impact on the total revenue.
The net income reported for the 2017 fiscal year was also an improvement on the year prior. 2017 brought the company a net income of about $6.3 million, which puts it up 26% from the reported $5.0 million of 2016.
Overall, the company had a good year and it’s paying off in the form of a 144% increase in its stock.
Featured Image: depositphotos/hin255
