Bright Mountain Media, Inc.
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Report Link: Updated Research Report (Dated 09/10/2020)
Analyst: John Nobile
Taglich Rating: Speculative Buy
Price Target: $5.00
Time Horizon: 12 Months
Rating Established: August 3, 2020
Price When Established: $2.10
Most Recent Report: September 10, 2020
Price When Issued: $3.75
Bright Mountain Media Reports Q3 Results
On November 25, 2020, Bright Mountain Media, Inc. (OTC: BMTM) reported results for its third quarter ended September 30, 2020.
For the quarter, the company reported that revenue more than doubled to $4.9 million from $2.1 million. BMTM reported a net loss to common of $56.8 million or $(0.51) per share compared to a loss of $2.1 million or $(0.03) per share in 3Q19. The results for 3Q20 included a $54 million or $(0.49) per share charge related to the impairment of assets. Excluding this charge, the 3Q20 net loss would have been $2.8 million or $(0.02) per share.
Taglich Brothers’ projected 3Q20 revenue of $7.5 million and a net loss to common of $4.4 million or $(0.04) per share.
Headquartered in Boca Raton, Florida, Bright Mountain Media, Inc. is an end-to-end digital media and advertising services company that connects brands with targeted consumer demographics.
Please view our current disclosure and disclaimer on our most recent research report.