Advan Notable Hit: Bassett Furniture (BSET)

July 9, 2021 By Valantis Aristeidous Tags: FINANCIAL-TRENDS, ADVAN HITS

(BSET:NASDAQ) On Thursday July 1, 2021 Bassett Furniture Industries, Incorporated (BSET) posted better-than-expected revenues of $124.06mm surpassing the consensus estimate of $93.86mm (-24.34%) and in the same direction as Advan's forecasted sales. The revenue was +94.45% YoY - Advan's foot traffic data captured an increase in traffic of +80.13% YoY. The stock closed at $26.95, +10% from its previous day's closing price. Advan's footfall data has over 0.93 correlation on a YoY basis with Bassett's top-line revenue over the last 10 quarters.

Advan Hits: BSET correlation traffic vs revenue

About Advan

Advan is the leader in the financial and real estate industries, enabling participants to analyze foot traffic data across multiple sectors, including retail, hospitality, consumer services, energy, technology, healthcare, REITS, financials and others. Advan derives its datasets using multi parameter models that analyze cellphone location data crossed with curated geofenced areas.

Top tier institutional investors spanning from quantitative hedge funds to fundamental asset managers have been the main consumers of Advan’s products.