Momentum Stock Watch: Staffing 360 Solutions Inc (STAF)

Company Profile:

Staffing 360 Solutions, Inc., a staffing company, engages in the acquisition of staffing companies in the United States and the United Kingdom. The company operates through three segments: Commercial  US, Professional  US, and Professional – UK. It focuses primarily on the staffing companies supporting accounting and finance, information technology, engineering, administration, and commercial disciplines. The company, through its subsidiaries, offers temporary contractors; and permanent placement services. The company was formerly known as Golden Fork Corporation and changed its name to Staffing 360 Solutions, Inc. in April 2012. Staffing 360 Solutions, Inc. was founded in 2009 and is headquartered in New York, New York.

Recent News:

For the third quarter of 2020, the company reported revenue declined by 27.7% to $48.6 million from $67.3 million in the third quarter of 2019. Net loss of $2.6 million compared with net loss of $1.1 million in the third quarter of 2019.

On Oct. 27, 2020, the company announced that it has successfully completed the restructuring of its senior secured debt agreement with Jackson Investment Group, LLC which includes a two-year extension on its $35.7 million loan, and an extension of its $25 million credit facility with MidCap Funding IV Trust.

 

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

STAF’s strengths can be seen in its strong growth, better profitability, better solvency and robust efficiency compared with its peers. Its revenue has increased over recent years. Technical indicators signal the bullish signs, as there is a bullish crossover in Stochastic oscillator, MACD is trying to cross back up and the RSI stands at 50.82 with positive bias. We rate Staffing 360 Solutions Inc (STAF) a STRONG BUY.

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