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      Why Has The GEE Group Stock Gained 12% During Extended Trading? - Stocks Telegraph

      By ST Staff

      Published on

      July 2, 2021

      6:52 AM UTC

      Why Has The GEE Group Stock Gained 12% During Extended Trading? - Stocks Telegraph

      GEE Group Inc. (JOB), a provider of professional staffing services and human resource solutions, was trading at $0.64 in after-hours at the time of this writing, up 12.28%. JOB stock dropped -0.68% to $0.57 at the close of Thursday trading. Volume for GEE group stock remained at 6.95 million shares, down from 7.76 million shares on average over the past 50 days.

      Job shares are down by -5.36% over the past week, and their value has increased by 10.83% over the past 12 months. JOB stock has lost -58.76% over the past three months, while it has lost -45.80% over the past six months. The JOB, along with its outstanding shares of 113.50 million, has a current market value of $65.78 million.

      As JOB stock rose without any recent news, we are able to provide an even more detailed overview of JOB by referring to recent developments.

      Has JOB been going well lately?

      Since 1893, Gee Group has provided specialized staffing services. With its names Agile Resources, Triad, Ashley Ellis, Paladin Consulting, General Employment, Omni-One, and Access Data Consulting, JOB operates in two market niches: technical and engineering staffing services, as well as financial and accounting staffing services. Through its Scribe Solutions brand, JOB also provides medical scribes for emergency departments and medical practices by providing necessary documentation for patient care in conjunction with electronic medical records (EMR).

      Results for the second quarter ended March 31, 2021 are the latest financial position announced by GEE Group.

      Q2 2021 Highlights:

      • JOB’s revenues for the reported quarter were $34.7 million, up marginally from the same quarter of fiscal year 2020.
      • In the second quarter of the fiscal year 2021, JOB earned approximately $637,000 in operating income as opposed to a loss of approximately $(2.4) million in the same quarter a year ago.
      • JOB’s non-GAAP financial measure of adjusted EBITDA (about $2.2 million) was up from about $783,000 for the second quarter of the fiscal year 2020.
      • As of quarter end, JOB had approximately $14.3 million in cash and approximately $8.7 million in net working capital.
      • JOB completed its common stock equity offering in April 2021 together with the exercise of the over-allotment option.
      • JOB raised $57.5 million in gross proceeds before underwriters’ discount, commissions, and expenses.

      Was cost cutting beneficial to JOB?

      In the fiscal 2021 second quarter, GEE Group (JOB)’s selling, general, and administrative expenses (SG&A) decreased by approximately $3.6 million, reaching approximately 26.4% of revenue, down from approximately 36.9% in the fiscal 2020 second quarter. It is expected that SG&A expenses will decrease mainly as a result of COVID-19 mitigation efforts to reduce costs and position GEE for a brighter future.

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