Healthlynked Corp (OTCMKTS:HLYK) has bounced back after plummeting to all-time lows early in the year. The stock is already up by more than 300% for the year, all but bringing to an end a bear run that begun mid last year.Trading Volume SurgeA surge in trading volume of HealthLynked Corp can be attributed to many factors one being stellar financial results, which have reaffirmed the company’s solid growth trajectory. The company has also released software solutions that have strengthened its core business in the healthcare sector.By serving up a string of solid catalysts, the company has essentially eased negative sentiment that had clobbered the stock to all-time lows, early in the year. The recent surge in trading volume underlines the fact that investors are slowly streaming back to stock, a move that seems to have triggered the current Bull Run.A pullback from the $0.45 handle to the $0.30 handle appears to have a presented a buying opportunity as the stock has since bounced back in what seems to be a continuation of the merging uptrend. The stock now looks set to rally to the $0.78 mark which happens to be the stock’s 52-week high. HLYK Daily ChartHealthLynked Corp faces immediate support at the $$0.30 handle, on any sell-offs, below which it remains susceptible to further declines to the $0.25 mark, the next critical support level.Before we look at the catalysts likely to affect the stock’s direction of trade, let us look at what the company does in pursuit of growth and shareholder value.HealthLynked Corp casts itself as a developer and provider of solutions for improving the exchange of medical information between patients and healthcare providers. The company operates a cloud-based platform that allows members to connect with healthcare providers, share information and book appointments.Recent DevelopmentHealthLynked sentiments on Wall Street received a boost on the company reporting impressive numbers for the first quarter. Revenues increasing by 36% to $645,639 appears to have caught many investors by surprise, thereby strengthening the uptrend momentum. Record revenue in the first quarter builds on yet another stellar performance in the fourth quarter, where the company reported a 46% increase in revenue.The company attributes the increase in Q1 revenue to an 18% increase in patient appointments as well as an increase in time of service collections of 67%. The company’s health services division realized an operating income of $11,358, as a result, compared to a net loss of (-$51,824) for the same period last year.
“We continue to be very pleased with the results of our health services division, with record revenue and significant quarterly growth reported in the first quarter. […]We continue to deploy the HealthLynked suite of services at our health services division, and we expect these results to continue through the rest of 2018” said CEO Michael Dent.
Mobile App LaunchHealthLynked Corp recently launched a version of its mobile app dedicated to iPhone users. The app lets patients connect with healthcare providers to share valuable medical information. The app is designed in such a way that members can access their medical information wherever they are, thereby eliminating the need of having to carry redundant paperwork or physical medical records.Patient’s medical records in the app are stored in secure cloud storage via image capture. Once uploaded, users can control who gets access to the information. Users may also link to other family members like elderly parents and be able to access their medical records through a two-way authentication process.In addition to offering a secure way of storing and accessing crucial medical information, the app also makes it possible for users to schedule appointments with over 800,000 healthcare providers throughout the U.S.
“What makes the app unique is its simple user interface and dashboard that facilitates the patient to control access to all their medical information. The app's interactive interface has all the essential search, sorting filters, and user-managed settings, making it possible for users to manage their healthcare better, connect to their providers, and assure their information is up-to-date,” said CEO Michael Dent.
HealthLynked 2018 OutlookThe bear run that had plunged HealthLynked to all-time lows has lost momentum, and the stocks look set to continue powering high. The stock has every reason to keep climbing high given the recent earnings report that has shown the company is on a growth trajectory depicted by double-digit growth in revenue.The company has also served solid catalysts in the form of new product releases and updates that underscore focus on addressing the needs of patients and healthcare providers. That said, any pullback from now on should act as a good entry position as HealthLynked continues to pursue opportunities in the vast healthcare industry.We will be updating our subscribers as soon as we know more. For the latest updates on HLYK, sign up below!Disclosure: We have no position in HLYK and have not been compensated for this article.
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