HLTH has recently IPO’d for $16.76 and ran up to 22.55 before calming down to $8.53 low and shown a double bottom off $9. They had earnings today (10th) and reported 580M vs 541M and had .13 EPS up from (.52) YoY. Sales up 223M from 4.73M YoY. Recent price targets have been $14,$19, and now $12. I am just watching but want to start this thread as it popped up on the Finviz scanner.
News - an important move, the company has introduced a mobile COVID-19 test. In just 20 minutes, Cue’s molecular test can deliver results comparable to the standard PCR test, delivered to the patient’s mobile phone. A Mayo Clinic study showed that Cue’s test gives 97.8% accuracy.
Furthermore, the company announced in October that is has made an agreement to serve as the NBA’s COVID testing provider for the 2021-2022 basketball season. And, on November 1, Cue and Major League baseball announced jointly that the health tech company provided COVID testing for MLB games through the postseason and World Series.
While Cue is well positioned as a portable medical test provider, the company does have one weakness – it is heavily reliant on its COVID test kit.