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Sentiment on Stocktwits turned ‘bullish’ on Wednesday compared to ‘bearish’ a week ago.
Shares of Better Choice Company (BTTR) have risen nearly 17% in the past five trading days ahead of the pet foods maker’s fiscal fourth quarter earnings, with retail sentiment staying optimistic.
According to Finchat, the company is expected to post a loss per share of $4.84 on revenue of $12.90 million for its next earnings results, expected on Thursday. The stock has one ‘buy’ recommendation.
For its third quarter, Better Choice reported a 33% quarter-over-quarter sales growth, reaching $11.4 million. Its gross margin improved for the third consecutive quarter to 40%. Its earnings per share had improved 132% year-over-year to $0.73
The company also saw its first profitable quarter after many years, with over $200,000 in adjusted earnings before interest and taxes, depreciation and amortization (EBITDA)
Sentiment on Stocktwits turned ‘bullish’ on Wednesday compared to ‘bearish’ a week ago. Message volume climbed to ‘low’ from ‘extremely low.’
Better Choice has made several major strategic changes recently.
Last week, Better Choice shareholders approved the issuance of up to 30 million shares of Better Choice common stock in connection to the acquisition of SRx Health Solutions Inc. The move sparked some retail chatter on Stocktwits.
In January, the company agreed to sell its Halo business in Asia to its existing partner CZC Company for $6.5 million in cash at closing, along with a 3% royalty on sales over the next five years.
Better Choice sells dog food, cat food and treats under the Halo brand, focusing on sustainably sourced kibble and canned food derived from real whole meat, and minimally processed raw-diet dog food and treats.
Better Choice stock is down 19% year-to-date.
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