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Advent Technologies Hldg Inc Down 11.54% To $1.04 After Earnings Miss

Friday, March 31, 2023 12:03 PM | InvestorsObserver Analysts

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Advent Technologies Hldg Inc Down 11.54% To $1.04 After Earnings Miss

Advent Technologies Hldg Inc (ADN) said before open Friday that it lost $0.26 per share in quarter four 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods. The company reported $2 million in revenue

In the same quarter a year ago, the company lost $0.18 per share on revenue of $2.9 million.

The stock is down 11.54% to $1.04 after the report.

Despite Advent Technologies Hldg Inc reporting a decline in revenues, earnings increased signaling a rise in profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 40. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Advent Technologies Holdings Inc is an innovation-driven company in the fuel cell and hydrogen technology space. The company develops, manufactures, and assembles complete fuel cell systems and the critical components that determine the performance of hydrogen fuel cells and other energy systems. It serves automotive; aviation and power generation industries. It generates revenue from the sale of fuel cell systems and the sale of MEAs, membranes, and electrodes for specific applications in the fuel cell and energy storage (flow battery) markets.

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