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Summer Infant Inc. (SUMR) share price soared 25.90% with the closing price of $20.71 on Friday. Summer Infant Inc. stock has an exchanging volume of 68076.0 shares, which is high, contrasted with its 3-months average volume of 13.82K shares. Its market capitalization has now reached to $44.11M.
SUMR Brands Closes on New Credit Agreement for Future Growth, Reflecting Improved Operating Performance on October 16, 2020 news published at Yahoo.
SUMR Brands (SUMR) declared that it has entered into a Third Amended and Restated Loan and Security Agreement with Bank of America, N.A. (the “Credit Facility”) that replaces its prior $48.0 million asset-based revolving credit facility (“ABL”) with Bank of America and $17.5 million term loan with Pathlight Capital LLC.
The new Credit Facility, solely with Bank of America, consists of a $40.0 million ABL, a $7.5 million term loan, and a $2.5 million FILO (first-in, last-out) loan, for aggregate availability of $50.0 million. The Credit Facility provides adequate liquidity for SUMR with significantly reduced interest rates compared to the Company’s prior financing agreements. After paying off existing debt, the Company had approximately $9 million in availability under the Credit Facility. Additional information may be found in the Company’s Form 8-K filed with the SEC.
“We’re pleased to announce that the Company has successfully concluded the refinancing of its debt, entering into a new agreement with Bank of America that establishes a solid foundation to support ongoing growth, working capital needs and also significantly reduces future interest expense,” said Stuart Noyes, Interim CEO. “Operating under this new Credit Facility is expected to lower our interest cost by approximately $2.0 million annually based on current borrowing levels.”
Mr. Noyes continued, “This year we have made great progress improving operational efficiencies throughout the organization and the Company returned to profitability. The new Credit Facility represents an important milestone for SUMR as we build on structural improvements and position the Company for growth. We will continue to strategically invest in key business drivers, such as e-commerce expansion, innovative product development, and results-based marketing, while further reducing outstanding debt. We appreciate Bank of America’s partnership and validation of the transformative measures taken by the Company this year and look forward to making continued enhancement to the business to maximize shareholder value.”
SUMR Past Trading Activity
The market tends to become urbane often, in any event, for prepared investors and traders. In any event, when a merchant got what he/she had expected, the market occasionally chooses to move the other way. This instability leads a few traders questioning and re-thinking their moves. This is the reason becoming acquainted with past price performance, just as both long and short time period, is significant. If we look the past performance, during the last one week, SUMR price has rose by 21.04%. In the course of past three months sees the stock go up around 96.58%, while it has gain 721.83% over the past six months and 803.46% since the start of the year.
SUMR Earning History
Earnings per share are the amount of profit that a company produces during a specific period, which is usually defined as a quarter (three calendar months) or a year. In recent quarter of (Jun 2019), the firm recorded a revenue of 38.21 billion, which was higher than the gauge of 47.68M made by certain experts. For that equivalent quarter, Summer Infant Inc. posted -$0.45 earnings per share (EPS) which was underneath the consensus estimate of -$0.06 by -$0.39, which represents to a reduction by -650.00%.
SUMR Price Performance
Let us presently take a gander at a portion of its probable help and opposition resistance. Late research on Summer Infant Inc. has seen its stock exchanging -7.13% underneath its three-month high price. A glance at the opposite side additionally observes stock exchanging +133.48% above its three-month low. A more extensive look sees SUMR exchanging -7.13% beneath its 52-week high and 1324.84% above from its 52-week low price.
SUMR Instability & Beta Factor
The Volatility of a stock means that the stock’s drop or increase in the event that the more extensive market drops or rushes. A beta score higher than 1 implies that a stock is profoundly unpredictable while underneath 1 implies that the Volatility of a stock is low. If we look trading Volatility. Its 7-day Volatility is around 10.29%, while it has a month to month instability of 5.83%. The company has an ATR (Average True Range) of 1.24 and a beta factor of 2.07.