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Huazhu Group Down 3% Despite Narrower Loss

Shares of Chinese hotel chain Huazhu Group Ltd (HTHT) are down 3 percent on Wednesday's trading, despite the company reporting narrower loss in the third quarter.  

The company posted net loss of RMB137 million or $22 million in the third quarter, lower than net loss of RMB 212 million in the same period last year. On a per share basis, net loss was RMB0.04 or $0.01 per share for the period.

Excluding items, loss was RMB46 million or $8 million, compared to a loss of RMB218 million in the third quarter of 2020. On a per share basis, adjusted loss was RMB0.01.

Quarterly sales rose 12 percent to RMB3.5 billion or $547million from RMB3.2 billion a year ago.

Currently at $45.24, the stock has traded between $39.01 and $64.53 during the past 52 weeks.

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