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Sentage Holdings Inc. (SNTG) Stock Plunged 11.88% Today, Here’s Why

Sentage Holdings Inc. (SNTG) stock plummeted 11.88% in the current-market trading session at the price of $1.11 despite no fundamental reason.

SNTG, located in Shanghai, is a provider of financial services. The company delivers a wide range of services across client loan refund and collection control, prepaid payment networks, and loan suggestion services.

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SNTG Received Nasdaq Notification

On 3rd March 2022, SNTG announced receiving official notification from NASDAQ on 28th February 2022. The company had been notified of not fulfilling the lowest bid price requirement. Under the NASDAQ listing rule 5550, listed firms should retain the lowest bid price of $1.00 per share. As per the bid price of SNTG’s common shares for the past 30 days, the company is not fulfilling the bid price requirement.

SNTG First-Half 2021 Financial Results

Earlier on 21st December 2021, SNTG announced its financial results for the first half of the fiscal ended 30th June 2021. The company has also provided its business highlights. As of 30th June 2021, the company calculated US$0.10M in cash and restricted cash. Cash totaled US$0.14M on 31st December 2020. Net cash from operating activities totaled US$0.87M for the first half of 2021 compared to US$0.42M in the same period of 2020.

SNTG has a net income of US$0.45M for the first half ended 30th June 2021 compared to US$0.73M for the same six months of 2020. Earnings per share (basic and diluted) were US$0.04 for the first half of 2021. For the same period of 2020, earnings per share were US$0.07. The company received gross proceeds of roughly US$20.0M from its public offering during this period.

The operating revenue totaled US$1.32M for the first six months of 2021. It represents a drop of 24.0%, or US$0.41M, from US$1.73M for the same period of 2020. Selling, general and administrative costs were US$0.7M for the six months of 2021. It represents a fall of 5.1%, or US$38,977, from US$759,221 in the same period of 2020.

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