An Idaho-based healthcare company announced its financial results for the three months ended March 31, 2021. Even though revenues were slightly down YoY, it appears traders assumed the decrease was baked in as shares of International Isotopes Inc. (OTCQB:INIS) rallied on the news. As many industries suffered during the COVID-19 pandemic, based on the buying pressure seen during today’s session, traders have an optimistic view of what’s to come.
International Isotopes manufactures a full range of nuclear medicine calibration and reference standards, cobalt teletherapy sources, and other sealed sources. International Isotopes also distributes a varied selection of radioisotopes and radiochemicals for medical and clinical research, and pharmacy compounding. International Isotopes’s business consists of five business segments: Nuclear Medicine Standards, Cobalt Products, Radiochemical Products, Fluorine Products, Radiological Services. Geographically, it generates the majority of its revenue from the United States.
Traders were optimistic on things to come following the glimpse into the fundamentals of the company as shares hit a session high of $0.107/share (+7.86%). This move could be an indication of things to come as the stock attempts to breakout of the trading range it has been trapped in for months.