EUDA Health (NASDAQ:EUDA) Stock Falls 10.1% on Disappointing Earnings

EUDA Health Holdings Limited (NASDAQ:EUDA)’s stock price dropped 10.1% on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $14.30 and last traded at $14.30. Approximately 12,340 shares were traded during trading, a decline of 60% from the average session volume of 30,642 shares. The stock had previously closed at $15.90.

The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.57). The business had revenue of $1.73 million for the quarter, compared to analysts’ expectations of $9.61 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of EUDA Health in a research report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, EUDA Health presently has an average rating of “Hold” and a consensus target price of $55.00.

EUDA Health Price Performance

The stock has a 50 day moving average price of $15.56 and a 200 day moving average price of $13.69.

About EUDA Health

EUDA Health Holdings Limited is a digital health company focused on using technology to improve access to healthcare services. The company operates through subsidiaries and develops digital platforms intended to connect patients with healthcare providers and support the delivery of healthcare services.

Its activities include telemedicine and other technology-enabled healthcare solutions, such as facilitating virtual consultations, healthcare appointments and related services. EUDA has also pursued artificial-intelligence applications in sexual health, including technology designed to support the assessment of certain male sexual-health conditions.

The company is based in Singapore and has focused its operations on the Southeast Asian healthcare market.