In a challenging market environment, My Size Inc (MYSZ) stock has recorded a new 52-week low, touching down at $1.06. Despite showing strong revenue growth of ~44% and maintaining a healthy gross profit margin of 57%, the micro-cap company, currently valued at just $1.39 million, continues to face market pressures. According to InvestingPro analysis, the company maintains a solid current ratio of 2.49, indicating strong short-term liquidity. The technology company, known for its innovative measurement solutions, has faced significant headwinds over the past year, reflected in a steep 1-year change with a decline of -78.78%. Investors have shown concern as the stock struggles to regain momentum, marking a concerning period for the company amidst a broader market downturn that has seen many tech stocks reeling from heightened volatility and shifting investor sentiment. InvestingPro analysis suggests the stock may be undervalued at current levels, with additional insights available through their comprehensive analysis tools.
In other recent news, My Size, a technology firm specializing in sizing solutions for the garment industry, reported its September quarter earnings with sales amounting to $1.8 million. This represents a 7% sequential decrease from $2.0 million in the previous quarter and a 14% drop from $2.2 million in the same quarter last year. Despite these declining sales, My Size saw a sequential increase in its Software-as-a-Service (SaaS) revenue, rising to $172,000 from $163,000 in the previous quarter.
Meanwhile, H.C. Wainwright has adjusted its outlook on My Size, reducing the price target on the company's shares to $3.00, down from the previous target of $5.00, while maintaining a Buy rating. The firm remains optimistic about the potential of My Size's sizing technology within the garment industry, stating that the lowered price target reflects a more realistic goal for the stock in the current market environment.
These are the latest developments for My Size, which continues to operate globally despite regional tensions in its headquarters' location, Israel. The company has stated that the security situation in Israel has not materially affected its operations or financial results.
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