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      Is this the reason behind Streamline Health Solutions Inc (STRM) stock positive momentum on Tuesday? - Stocks Telegraph

      By Asim Kamal

      Published on

      August 25, 2021

      6:20 AM UTC

      Is this the reason behind Streamline Health Solutions Inc (STRM) stock positive momentum on Tuesday? - Stocks Telegraph

      Streamline Health Solutions Inc (STRM) shares surged 5.92% in after-hours on Tuesday, August 24, 2021, and closed the daily trading at $1.79. in the normal trading session on Tuesday, STRM’s stock gained 4.32%. STRM shares have risen 11.92% over the last 12 months, and they have moved up 13.42% in the past week. Over the past three months, the stock has lost 11.52%, while over the past six months, it has declined 12.44%.

      Let’s have a brief look at its recent news and developments.

      STRM acquiring Avelead Consulting

      On Aug. 24, 2021, Capital Clarity announced the close of Streamline Health Solutions, Inc.’s (STRM) acquisition of Avelead Consulting, LLC.

      Terms of the deal include closing cash and stock consideration valued at $20 million, subject to customary post-closing adjustments for working capital, cash, debit, and transaction expenses, and a performance-based earnout with an estimated value of $15 million.

      The acquisition is expected to expand top-line revenue while accelerating the generation of positive EBITDA, providing a foundation for accelerated growth.

      STRM signed new contracts

      On July 29, 2021, Streamline Health Solutions, Inc (STRM) signed a contract with a 200-bed, Allscripts EMR-based hospital in Missouri. The hospital will use eValuator’s cloud-based automated pre- and post-bill coding analysis technology to help improve revenue integrity and financial performance from their inpatient services.

      On June 30, 2021, Streamline Health Solutions, Inc (STRM) signed a contract with a 2,367-bed, Epic EMR-based health system serving the Midwest. The health system will use eValuator’s cloud-based automated pre- and post-bill coding analysis technology to help improve revenue integrity and financial performance from their inpatient and outpatient services.

      Forgiveness of PPP loan

      On June 16, 2021, Streamline Health Solutions, Inc (STRM) received notice from Western Alliance Bank, that the U.S. Small Business Administration (SBA) approved the forgiveness of the PPP loan.

      STRM Q1 2021 financial results announcement

      On June 08, 2021, Streamline Health Solutions, Inc (STRM) announced financial results for the first quarter of the fiscal year 2021, which ended April 30, 2021.

      Q1 2021 financial highlights

      • STRM reported total revenue of $3.0 million for Q1 2021, compared to $2.8 million in the prior-year period.
      • the company suffered a net loss of $2.1 million in Q1 2021 as compared to a net income of $3.7 million during the first quarter of fiscal 2020.
      • Adjusted EBITDA was a loss of $0.7 million in Q1 2021 compared to an adjusted EBITDA loss of $0.6 million in the first quarter of fiscal 2020.

      Conclusion

      The recent acquisition reason was the reason behind its top-notch performance on Tuesday and it can continue its positive momentum on Wednesday as well.

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