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Notable Stock News to Watch: Happiness Biotech Group Limited (NASDAQ:HAPP)

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Happiness Biotech Group Limited (NASDAQ:HAPP) spotted trading -56.72% off 52-week high price. On the other end, the stock has been noted 8.20% away from the low price over the last 52-weeks. The stock changed -5.04% to recent value of $2.64. The stock transacted 436852 shares during most recent day however it has an average volume of 459.04K shares. The company has 26.33M of outstanding shares and 9.23M shares were floated in the market.

On July 24, 2020, Happiness Biotech Group Limited (NASDAQ:HAPP) an innovative China-based nutraceutical and dietary supplements producer, released its financial results for the fiscal year ended March 31, 2020.

FY 2020 Financial Highlights:

  • Revenue increased $1,125,768 or 1.8% to $65,061,95 for the year ended March 31, 2020, as compared with $63,936,185 for the fiscal year ended March 31, 2019
  • Sales from Lucidum spore powder products for the year ended March 31, 2020 increased $8,346,748 or 42.0% as compared to the previous fiscal year and accounted for 43.4% of our total revenue.
  • Operating income was $15,398,717 for the fiscal year ended March 31, 2020, a decrease of 29.5% from the prior year period.
  • The Company reported $12.69 million of net income attributable to common shareholders, or $0.53 per basic and diluted share in the fiscal year ended March 31, 2020, compared to net income attributable to common shareholders of $18.72 million, or $0.81 per basic and diluted share, in the comparative period.

The revenue increase was primarily due to the increase in sales of Lucidum spore powder, its related products and other products, which offset the decrease in sales of Cordyceps mycelia products, Ejiao solution products, Vitamins and dietary supplements products and American ginseng products. Our sales from the Lucidum spore powder products had grown significantly during fiscal year 2020 due to our development of Lucidum enriched related products and Lucidum raw material products. Lucidum spore powder and its related products are our best-selling products line and the key items of our future development.

Its earnings per share (EPS) expected to touch remained 16.40% for this year.

According to the most recent quarter its current ratio was 11.7 that represents company’s ability to meet its current financial obligations. The price moved ahead of -5.16% from the mean of 20 days, -5.33% from mean of 50 days SMA and performed -29.11% from mean of 200 days price. Company’s performance for the week was -5.71%, -14.29% for month and YTD performance remained -42.04%.

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