RTTNews | May 24, 2021 12:07PM EDT

12:06 Monday, May 24, 2021 (RTTNews.com) - South Asian tech company Sea Limited's (SE) stock rose nearly 4% on early trading hours Monday. However, the company has not announced any particular reason attributing to the rise.

On May 18, the company reported a 146% hike in net revenue of $1.8 billion in the first quarter, but the net loss widened 50% to $422 thousand or $0.62 per share. The surge in revenues were offset by a 120% increase in the cost of services, which increased to $1.18 million from $500 thousand last year in the same quarter.

The company is presently trading at $256.06 per share, up 3.95% or $9.73, higher from $246.33 at close on Friday. The stocks started trading at $249.50 on Monday. On a 52-week period, the stocks have ranged from $73.93 to $285 per share against 18.2 million outstanding shares.

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