ReTo Eco-Solutions Inc. (RETO) stock went downhill in the after-hours to reach $2.60, against $2.73 at its close on November 16. Intraday trading the stock gained huge, going up by 48.37% at a volume of 16.82 million (1,894% of 65-day avg.). ReTo’s current market capitalization stands at $50.75 million. The stock started its decline in the after-hours on November 16, as profit bookers saw the intraday doubling of the price as a great opportunity.

More about RETO

Founded in 1999, ReTo Eco-Solutions Inc. (RETO) is a provider of technology solutions for the improvement of ecological environments. The company’s products and services include eco-friendly construction material, eco-protection equipment, as well as project consulting, design, and installation for improvement of the eco-environment. The company’s eco-friendly construction products are made from mining waste like iron tailings and fly-ash. These products include, but are not limited to, bricks, pavers, and tiles.

RETO stock’s Timeline

In the last twelve months, RETO’s share price had gone up by an impressive 229%, and 144% in roughly a quarter. To add more, the stock had been in a continuous uptrend since November 8, going up from $1.04 (opening position on November 8) to $2.73 at its last market close. Just over the last five days, the stock went by 96.40%. While the stock already was in an uptrend but regaining compliance with Nasdaq’s minimum bid requirement shot it up to almost double on November 16. But RETO’s big jump of almost 50% reversed in the after-hours as profit booking started.

The share price and earnings per share, so far, have not shown any strong correlation. For that matter, even the revenue of the company seems to have no huge effect on the share price either, as RETO hasn’t been profitable in the last twelve months.

First Half Financials

ReTo Eco-Solutions Inc. reported its 2021’s first half financials on October 27, 2021. According to the financials, RETO’s revenue for the first half decreased by 27% from $3,142,102 in 2020 to $2,282,526 in 2021. Moreover, the net loss for the first half of 2021 stood at $8,865,221, against that of $3,903,349 for the first half of 2020. This resulted in a net loss per share of $0.34 for 2021, while the net loss per share for the first half of 2020 was $0.10.

The company attributed its current losses and decreased revenue due to the effects of the Covid-19 Delta Variant. According to RETO, not only the company but the whole international equipment market is still struggling to recover from Covid-19.