STOCKS TELEGRAPH

Author: Asim Kamal

  • Why SPAR Group Inc. (SGRP) stock is declining in Tuesday’s pre-market?

    SPAR Group Inc. (SGRP) shares plunged 6.79% in Tuesday’s pre-market and were trading at $2.06, as of this writing. On Monday, SGRP’s stock gained 27.75% and closed at $2.21. SGRP shares have risen 186.98% over the last 12 months, and they have moved up 54.55% in the past week. Over the past three months, the stock has gained 27.75%, while over the past six months, it has shed 72.66%. The company has a current market of $41.26 million and its outstanding shares stood at 21.19 million.

    Let’s see why it is facing negativity in the pre-market session on Tuesday?

    SGRP made new appointments

    On July 13, 2021, SPAR Group, Inc (SGRP) appointed Ron Lutz as Chief Global Commercial Officer, and William Linnane was appointed as Chief Strategy and Growth Officer, to further strengthen its executive team and support the company’s global expansion.

    Resignation of Three Independent SGRP Board Members

    On June 15, 2021, SPAR Group, Inc announced that Mr. Arthur H. Baer, Mr. Igor Novgorodtsev, and Mr. Jeffrey A. Mayer, have resigned from the Corporation’s Board of Directors, effective June 9, 2021.

    Recent SGRP financial results

    On May 13, 2021, SPAR Group, Inc (SGRP) released its financial results for its first quarter ended March 31, 2021.

    Q1 2021 financial highlights

    • SPAR Group reported consolidated net revenue of $61.1 million in Q1 2021 compared to $61.3 million in Q1 2020.
    • Gross Profit was $12.3 million and gross margin was 20.1% in Q1 2021 compared to $11.8 million gross profit and 19.2% gross margin in Q1 2019.
    • Selling, General, and Administrative expenses were $9.01 million in Q1 2021 compared to $9.7 million in Q1 2020.
    • Operating Income was $2.7 million in Q1 2021 compared to $1.5 million in the prior year’s first quarter.
    • Net Income attributable to SGRP was $0.9 million in Q1 2021, compared to $0.3 million during the prior year’s first quarter.
    • Earnings per share were $0.04 in Q1 2021 compared to $0.01 in the prior year’s quarter.

    Increasing Credit Facility

    On May 04, 2021, SPAR Group, Inc (SGRP)  increased and extended the terms of its current line of credit. The maximum amount of the line of credit increased by $2 million to $18 million and the length of the term was extended by 18 months to October 2023.

    Q4 and FY-2020 financial results announcement

    On March 31, 2021, SPAR Group, Inc released its financial results for its fourth quarter and fiscal year ended December 31, 2020.

     Q4 2020 financial highlights

    • For Q4 2020 consolidated net revenue was $59.4 million compared to $61.1 million in the prior year’s fourth quarter.
    • SGRP Gross Profit was $11.5 million with a gross margin of 19.4% in Q4 2020 compared to $12.0 million gross profit and gross margin of 19.7% in the prior year’s fourth quarter.
    • Operating Income was $2.9 million in Q4 2020 compared to $1.2 million in the prior year’s fourth quarter.
    • Net Income was $2.0 million in Q4 2020 when compared to a net loss of $(0.6) million in the prior year’s quarter.
    • Earnings per share were $0.10, compared to a net loss of $0.03 in the prior year’s quarter.

    Conclusion

    Well, as of this writing, there is no recent news that could justify SGRP negative start on Tuesday. We hope that it will perform well in the remaining trading sessions.

  • Why SOS Limited (SOS) stock could not keep its positive momentum on Monday’s after-hours?

    SOS Limited (SOS) stock price declined 7.89% in after-hours on Monday, July 26, 2021, and close the daily trading at $2.80. In the regular trading session on Monday, SOS’s stock gained 22.58%. SOS shares have risen 60.85% over the last 12 months, and they have moved up 25.10% in the past week. Over the past three months, the stock has lost 33.91%, while over the past six months, it has shed 35.71%.

    Let’s discuss SOS recent news and developments briefly.

    SOS Joint Venture agreement with Niagara Development 

    On June 21, 2021, SOS Limited entered into a joint venture agreement with Niagara Development LLC to carry out cryptocurrency mining operations and construct an international standardized Digital Super Computing Custody Operation Center.

    Niagara Development will provide up to 150MW of electricity, including electricity generated from renewable sources, and construction of the Digital Super Computing Custody Operation Center. SOS will be responsible for the management, operations, and financing of the joint venture.

    SOS has to face several Class Action Lawsuits

    Levi & Korsinsky, LLP stated on June 1, 2021, informing all persons or entities who purchased or otherwise acquired securities of SOS Limited between July 22, 2020, and February 25, 2021, notifying that a securities class action lawsuit has been commenced in the United States District Court for the District of New Jersey.

    On May 26, 2021, The Law Offices of Vincent Wong announced that a class action lawsuit has commenced on the behalf of investors who purchased SOS stock Limited between July 22, 2020, and February 25, 2021.

    What’s the matter?

    According to the Complaints, the Company made false and misleading statements to the market regarding the Company’s business, operations, and compliance policies throughout the class period. According to the allegations, SOS used a pump and dump scheme and used fake addresses and photos of crypto miners to create an illusion of success.

    SOS rejected the claims and said that it is looking forward to vigorously defending itself, addressing these matters and providing more information in the coming days.

    SOS completed the first phase of the Leibodong Mine

    On May 7, 2021, SOS Limited announced that the first phase of the Leibodong Mine has been completed and 575 sets of ETH cryptocurrency mining rigs have been delivered.

    Recent financial results announcement

    On May 5, 2021, SOS Limited reported its audited financial results for the full year ended December 31, 2020.

    FY 2020 financial highlights

    • The company reported revenue of $50.3 million in FY 2020 compared to $37.4 million in FY 2019.
    • In FY 2020, the gross profit was $13.0 million.
    • The gross margin was 25.8% in FY 2020.
    • Operating income was $10.1 million in FY 2020.
    • It earned a net profit of $4.4 million, or $0.0135 basis per share in FY 2020 compared to a net income of $1.5 million, or $0.025 basis per share in FY 2019.
    • The company had Cash and cash equivalents of $3.7 million on December 31, 2021.

    Conclusion

    As of this writing, we have no recent news or development which could be linked with SOS stock mixed performance on Monday. It is hard to predict how it will perform in the coming days.

  • Here is why Fuel Tech Inc. (FTEK) stock surged in the after-markets on Monday?

    Fuel Tech Inc. (FTEK) shares surged 26.84% in after-hours on Monday, July 26, 2021, and closed the daily trading at $2.41.  Earlier in the regular trading session, FTEK’s stock gained 0.53%. FTEK shares have risen 103.97% over the last 12 months, and they have moved down 0.52% in the past week. Over the past three months, the stock has lost 20.17%, while over the past six months, it has declined 70.50%. The company has a current market of $59.01 million and its outstanding shares stood at 27.51 million.

    Let’s have a look at its recent news and developments.

    New FTEK Air Pollution Control Orders

    On July 26, 2021, Fuel Tech, Inc was awarded multiple air pollution control (APC) contracts from customers in Korea, North America, and Europe. These awards have an aggregate value of approximately $4.5 million.

    The company also completed two on-site US demonstrations of its DGI™ Dissolved Gas Infusion water treatment technology.

    FTEK Induction on Russell Microcap Index

    Fuel Tech, Inc (FTEK) was added to the Russell Microcap Index effective at the close of trading on June 25, 2021.

    Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.

    Annual Meeting of Stockholders

    The annual meeting of Fuel Tech stockholders was held on May 20, 2021. There are no other details are available about the meeting agenda.

    Recent financial results announcement

    On May 12, 2021, Fuel Tech, Inc. (FTEK) reported its financial results for the first quarter ended March 31, 2021.

    Q1 2021 financial highlights

    • Fuel Tech, Inc reported consolidated revenue of $5.0 million in Q1 2021 compared to $3.8 million in Q1 2020.
    • In Q1 2021, the Gross margin was 46.9% compared to 40.4% in Q1 2020.
    • Selling, general and administrative expenses were $3.1 million in Q1 2021, compared to $3.9 million in Q1 2020.
    • FTEK suffered a net loss of $1.2 million in Q1 2021 compared to $2.7 million in Q1 2020.
    • In Q1 2021, net income was $0.4 million, or $0.01 per share, compared to a net loss of $2.6 million, or $0.10 per share, in Q1 2020.
    • Adjusted EBITDA was negative $0.9 million in Q1 2021 compared to negative Adjusted EBITDA of $2.2 million in Q1 2020.
    • The company had cash and cash equivalents of $35.7 million and restricted cash of $0.4 million on March 31, 2021.

    Conclusion

    The recent new orders were the reason behind exceptional gains by FTEK stock on Monday. It can continue its momentum in the coming days as well.

  • Why Xenetic Biosciences Inc. (XBIO) stock is surging in the Monday’s pre-market??

    Xenetic Biosciences Inc. (XBIO) stock surged 24.21% in Monday’s pre-market as of this writing. In the regular trading session on Friday, XBIO’s stock gained 35.48%. XBIO shares have risen 108.26% over the last 12 months, and they have moved up 42.37% in the past week. Over the past three months, the stock has gained 29.90%, while over the past six months, it has shed 4.18%. Further, the company has a current market of $16.30 million and its outstanding shares stood at 8.75 million.

    Recent XBIO financial results announcement

    On May 12, 2021, Xenetic Biosciences, Inc reported its financial results for the first quarter of 2021.

    Q1 2021 financial highlights

    • The company suffered a net loss of approximately $1.3 million in Q1 2021
    • Research & development expenses were $0.6 million compared to $0.4 million in the comparable quarter in 2020.
    • General and administrative expenses were$0.9 million in Q1 2021 which were the same in Q1 2020.

    XBIO Participation in the recent investor conference

    Xenetic Biosciences recently participated at Q2 Virtual Investor Summit which was held on Tuesday, May 18, 2021. The company was presented by Chief Executive Officer Jeffrey Eisenberg presented the company during the event.

    Commencing Exploratory Study of XCART

    On March 29, 2021, Xenetic Biosciences, Inc received approval to commence its exploratory patient biopsy study in Eastern Europe evaluating XCART.

    The study will be conducted at the Vitebsk Regional Clinical Oncological Center in Minsk, Belarus, and will enrol adult B-Cell NHL patients. The collaborations being leveraged in the XCART development program may be expanded to include the development and qualification of manufacturing processes for producing autologous XCART T-Cells. The work being performed under these collaborations is expected to position the Company to conduct IND-enabling studies in the United States.

    XBIO Q4 & FY 2020 financial results

    On March 17, 2021, Xenetic Biosciences, Inc announced its financial results for the fourth quarter and full-year 2020.

    FY 2020 financial highlights

    • The company suffered a net loss of approximately $10.9 million in FY 2020.
    • For FY 2020, R&D expenses were $1.7 million compared to $4.9 million for the year ended December 31, 2019.
    • General and administrative expenses were $3.4 million from $4.7 million in the comparable period in 2019.
    • Working capital was approximately $11.4 million in FY 2020 compared to $9.7 million on December 31, 2019.
    • The Company ended the year with approximately $11.5 million of cash.

    Conclusion

    The recent Monday pre-market and Friday surge of XBIO stock has no grounds. There is no recent news or development which could be linked with Friday’s performance. We hope that it will commence the new week in a positive mode.

  • Here is why NanoVibronix Inc. (NAOV) stock skyrocketed today?

    NanoVibronix Inc. (NAOV) shares rose 32.95% in pre-hours today. On Friday, NAOV’s stock soared 248.14% to close the normal trading session at $2.61. NAOV shares have risen 65.21% over the last 12 months, and they have moved up 262.20% in the past week. Over the past three months, the stock has gained 169.68%, while over the past six months, it has shed 89.13.

    Let’s see is there any recent development behind its massive surge?

    Positive findings of  NAOV UroShield

    On July 22, 2021, The Journal of Medical & Surgical Urology published an article with overwhelmingly positive findings from a study of patients that used NAOV UroShield in real-world settings.

    The Chief Executive Officer of NAOV, Brian Murphy said that the independent study is further proof of the effectiveness and applicability of the company’s UroShield device in reducing the incidence of urinary tract infections and pain and discomfort caused by urinary catheters.

    23 patients participated in the study and used UroShield for a minimum period of 12 weeks. patients reported a significant decrease in the number of UTIs and antibiotic treatment, had fewer catheter blockages and catheter changes, and the pain was reduced significantly by the end of the study.

    NAOV Business update

    On June 03, 2021, NAOV provided an update on its business.

    • The company launched the next generation of its PainShield device at the end of 2020, which extends the functionality of its core product and broadens the opportunities for application. Delivery of the first devices is expected to be in Q2 2021.
    • The company also expanded and replaced its original distribution agreement with Ultra Pain Products, to extend the term and increase minimum purchase requirements. UPPI is the exclusive distributor of PainShield® and PainShield® Plus™ devices to the Durable Medical Equipment (“DME”) distribution sector of the healthcare market in the United States.
    • The company is establishing manufacturing capabilities both in the United States and Israel that will run parallel to its existing manufacturing operations located in Asia.

    Adjourning of Special Meeting of NAOV Stockholders

    On April 27, 2021, NanoVibronix, Inc (NAOV) adjourned the Special Meeting of Stockholders and scheduled it on May 6, 2021, but still, it has not been done yet and there is no new schedule is provided for the meeting.

    Conclusion

    The NAOV stock soared massively on Friday after the publication of positive results of UroShield. The NAOV stock can commence the new week with positivity as well.

  • Why did IMV Inc. (IMV) shares rallied on Friday?

    IMV Inc. (IMV) shares surged 31.29% in pre market trading on Monday, July 26, 2021, and moved at $2.14 per share. Earlier, IMV’s stock gained 18.12% to close Friday’s morning session at $1.63. IMV stock fallen 67.47% over the last 12 months, and they have moved up by 18.12% in the past week. Over the past three months, the stock has lost 41.37%, while over the past six months, it has declined 55.71%.

    Let’s see is there any recent news or development behind its positive momentum?

    Closing of the public offer of IMV stock 

    On July 20, 2021, IMV Inc closed its previously–announced underwritten public offering of 14,285,714 units at a price to the public of US$1.75 per Unit.

    Each Unit is comprised of one common share and three-quarters of one common share purchase warrant. Each Warrant entitles the holder thereof to purchase one common share at US$2.10 per common share.

    The company will get gross proceeds of approximately US$25 million.

    Voting results from IMV AGM

    On June 18, 2021, IMV Inc announced the voting results from its annual and special meeting of shareholders held on June 18, 2021. All resolutions were accepted including the election of directors, based on the votes received.

    New appointment

    IMV Inc appointed Jeremy R. Graff, Ph.D. as Chief Scientific Officer, effective as of June 14, 2021. Dr. Graff brings over 20 years of experience in preclinical and clinical research and translational analysis for novel immune-activating therapeutics in oncology.

    Participation in the investor conferences

    IMV Inc recently participated in Sachs and Associates, 7ᵗʰ Annual Immuno-oncology Innovation Forum Panel, which was held on Wednesday, May 19, 2021.

    The company also took part in the Family Office Investor Event – Healthcare & Biotech TSX Showcase which was held on Wednesday, May 19, 2021.

    Recent IMV financial results announcement

    On May 12, 2021, IMV Inc announced its financial results for the first quarter ended March 31, 2021.

    Q1 2021 financial highlights

    • Research and development expenses were $4.7 million in Q1 2021 compared to $5.1 million for the three months ended March 31, 2020.
    • In Q1 2021, general and administrative expenses were$3.2 million compared with $2.3 million for the three months ended March 31, 2020.
    • The company suffered a net loss of $7.0 million or $0.10 per share in Q1 2021 compared to a $7.2 million net loss or $0.14 per share for Q1 2020.
    • The Company had cash and cash equivalents of $30.5 million and working capital of $31.6 million on March 31, 2021, compared with $36.3 million and $35.6 million, respectively as of December 31, 2020.

    Conclusion

    Well, as of this writing, there is no reason which could justify its exceptional performance on Friday. we hope that IMV will continue its surge in the new week as well.

  • Here is why Tonix Pharmaceuticals Holding Corp. (TNXP) stock plummeted on Friday?

    TNXP stock closed Friday, July 23, 2021 at $0.98. Earlier in the morning session on Monday, TNXP shares lost 34.18% at $0.64. Tonix Pharmaceuticals Holding Corp. (TNXP) shares have fallen 35.10% over the last 12 months, and they have moved up 0.04% in the past week. Over the past three months, the stock has lost 5.77%, while over the past six months, it has shed 4.85%.

    Let’s have a brief look at its recent news and developments.

    Negative Results of Interim Analysis of Phase 3 Study of TNX-102 SL

    On July 23, 2021, Tonix Pharmaceuticals Holding Corp (TNXP)  decided to stop enrollment in the Phase 3 RALLY study of TNX-102 SL (cyclobenzaprine HCl sublingual tablets) 5.6 mg for the management of fibromyalgia following an unblinded, pre-planned interim analysis by the Independent Data Monitoring Committee (IDMC) of the RALLY study.

    IDMC recommended stopping the trial for futility, after the interim analysis results of the first 50% enrolled participants as TNX-102 SL is unlikely to demonstrate a statistically significant improvement in the primary endpoint of overall change from baseline in daily diary pain severity scores between those treated with TNX-102 SL 5.6 mg (2x 2.8 mg tablets) and those receiving placebo.

    TNXP New board member appointment

    Tonix Pharmaceuticals Holding Corp appointed Carolyn E. Taylor to its Board of Directors, effective as of July 16, 2021.

    TNXP Inauguration to Russell 2000® and Russell 3000® Indexes

    TNXP stock was added to the broad-market Russell 3000® index and the small-cap Russell 2000® Index, effective after the U.S. market opened on June 28, 2021, as part of the annual reconstitution of the Russell stock indexes.

    Treatment for Long COVID Syndrome

    On June 21, 2021, Tonix Pharmaceuticals Holding Corp (TNXP) announced its plans to develop TNX-102 SL (cyclobenzaprine HCl sublingual tablets) as a potential treatment for Long COVID Syndrome (Long COVID) which is now known officially as Post-Acute Sequelae of COVID-19 (PASC).

    Tonix plans to meet with the U.S. Food and Drug Administration (FDA) in the third quarter of 2021 to seek agreement on the design of a potential Phase 2 pivotal study and the overall clinical development plan to qualify TNX-102 SL as an indicated treatment for Long COVID.

    Participation in the conferences

    Tonix (TNXP) recently participated in the BIO Digital Conference which was held on June 10-11 and 14-18, 2021. The company was presented by Seth Lederman, M.D., President and Chief Executive Officer of Tonix.

    The company also participated in the Raymond James Human Health Innovation Conference which was held on June 23, 2021.

    Conclusion

    The company’s recent announcement about halting the enrolment in TNX-102 SL trials due to negative outcomes was the reason behind its significant loss on Friday. TNXP can continue to decline in the coming days as well.

  • Here is why Ocular Therapeutix Inc. (OCUL) stock flipped in the after-hours on Thursday?

    Ocular Therapeutix Inc. (OCUL) shares climbed 7.51% in after-hours on Thursday, July 22, 2021, and closed the day at $13.03 per share. in the morning session on Thursday, OCUL’s stock lost 4.42% to close Thursday’s session at $12.12 per share. OCUL shares have risen 38.51% over the last 12 months, and they have moved down 4.64% in the past week. Over the past three months, the stock has lost 22.85%, while over the past six months, it has shed 38.32%. Ocular has a current market of $962.57 million and its outstanding shares stood at 76.07 million.

    OCUL stock Preliminary financial announcements

    On July 22, 2021, OCUL stock announced preliminary net product revenue for the quarter ended June 30, 2021, and in-market unit sales for June 2021.

    • The company announced total net product revenue of approximately $11.7 million for the second quarter of 2021 which is a 600%increase versus the second quarter of 2020.
    • Ocular Therapeutix is projecting DEXTENZA second quarter, in-market unit sales of 24,990 billable inserts, which is an approximately 50% sequential increase over the first quarter of 2021.

    Strategic agreement with Mosaic Biosciences 

    On June 29, 2021, Ocular Therapeutix, Inc (OCUL) stock entered into a discovery collaboration with Mosaic Biosciences to identify new targets and therapeutic agents aimed at the treatment of Dry Age-related Macular Degeneration (dAMD).

    The collaboration between Ocular Therapeutix and Mosaic will focus on the discovery and development of novel complement inhibitors with an extended duration of activity. The goal of complement inhibition is to block the pathway that can initiate and drive these diseases.

    Participation in the recent investor and health conferences

    • Ocular Therapeutix Inc participated at the Raymond James Healthcare Conference 2021, which was held on June 23, 2021.
    • The company’s management also participated in a fireside chat at The JMP Securities Life Sciences Conference which took place on June 16, 2021.
    • OCUL stock was presented by its top management at Jefferies Virtual Healthcare Conference which was held on Tuesday, June 1, 2021.

    OCUL stock Q1 2021 financial results announcement

    On May 5, 2021, Ocular Therapeutix, Inc. (OCUL) stock reported financial results for the first quarter of 2021.

    Q1 2021 financial highlights

    • Ocular Therapeutix reported gross product revenue of $7.3 million in Q1 2021 compared to $2.69 million in Q1 2020.
    • Research and development expenses were $10.9 million in Q1 2021 compared to $6.1 million in Q1 2020.
    • Selling and marketing expenses were $8.1 million in Q1 2021 as compared to $7.1 million in Q1 2020.
    • The Company reported a net income of $3.1 million, or a profit of $0.04 per share on a basic basis and a net loss of $20.8million, or a loss of $0.24 per share on a diluted basis in the first quarter of 2021 compared to a net loss of $21.0 million, or a loss of $0.41per share on a basic and diluted basis Q1 2020.
    • OCUL stock had $209.4 million in cash and cash equivalents on March 31, 2021, compared to $228.1 million on December 31, 2020.

    Conclusion

    The Ocular Therapeutix stock jumped in the after-hours after the company announced preliminary financial figures for Q2 2021 which are quite good. The OCUL stock can continue to surge on the last day of the week as well.

  • Why AzurRx BioPharma Inc. (AZRX) stock plummeted on Thursday?

    AzurRx BioPharma Inc. (AZRX) stock declined 16.03% in after-hours on Thursday, July 22, 2021. The stock closed at $0.59 per share. Before that in the morning session, the share price of the Company lost 4.27% to close Thursday’s session at $0.71. AZRX stock has fallen 38.42% over the last 12 months, and they have moved down 0.06% in the past week. Over the past three months, the stock has lost 15.29%, while over the past six months, it has slid down 42.89%.

    Let’s see is there any recent development behind its plummeting on Thursday?

    AZRX stock expanding the previously announced public offering

    On July 22, 2021, AzurRx BioPharma, Inc announced that the underwriter has agreed to increase the size of the previously announced public offering and purchase on a firm commitment basis 9,090,910 shares of common stock of the Company, at a price to the public of $0.55 per share, due to high demand. The offer will close on July 27, 2021, subject to satisfaction of customary closing conditions.

    Participation in the recent conferences

    • The Chief Executive Officer of AzurRx, James Sapirstein recently presented the company at the 2021 BIO Digital virtual conference which took place on June 10-11 and June 14-18, 2021.
    • The company also participated in the Rocky Mountain Microcap conference which was held on May 26, 2021.MrSapirstein provided an overview of AzurRx’s business and clinical development programs and discussed anticipated 2021 and early 2022 milestones in the conference.

    First Patient dosed in Phase 2 Clinical Trial of Niclosamide

    On June 07, 2021, AzurRx BioPharma, Inc administered the first dose of FW-1022 to a volunteer in the ongoing Phase 2 RESERVOIR clinical trial. FW-1022 is a proprietary oral tablet formulation of micronized niclosamide developed for the treatment of COVID-19-related GI infections. Topline results from the trial are expected in the first quarter of 2022.

    AZRX stock revealed positive interim data from the phase 2 trial of MS1819 

    On May 13, 2021, AZRX stock announced positive interim data from the first 18 out of 20 patients in its Phase 2 trial evaluating MS1819 in combination with the current standard of care, porcine-derived pancreatic enzyme replacement therapy (PERT), for the treatment of severe exocrine pancreatic insufficiency (EPI) in patients with cystic fibrosis (CF).

    The interim data showed that the combination therapy led to clinically meaningful improvements in the primary efficacy endpoint, the Coefficient of Fat Absorption (CFA), with an average gain of 5.9 points from baseline.

    French Research Tax Credit

    On May 12, 2021, AzurRx SAS, which is a wholly-owned subsidiary of AzurRx BioPharma in France, received approximately 459,000 Euros ($550,000 U.S.) in non-dilutive funding in research tax credits from the French government for its 2020 CIR (French Research Tax Credit).

    Conclusion

    The AZRX stock plummeted after the company announced to increase in the size of its previously announced public offering. we are not sure how the stock market will react on Friday for AZRX.

  • Here is why Skechers U.S.A. Inc. (SKX) stock performed well on Thursday?

    Skechers U.S.A. Inc. (SKX) shares gained 7.46% in after-hours on Thursday, July 22, 2021, and closed at $55.03 per share. Earlier in the morning session, SKX’s stock gained 1.89% to close Thursday’s morning session at $51.21. SKX shares have risen  66.37% over the last 12 months, and they have moved up 5.35% in the past week. Over the past three months, the stock has gained 15.05%, while over the past six months, it has declined 39.50%.

    Let’s see what are the latest news about Skechers?

    Financial results announcement

    On July 22, 2021, SKECHERS U.S.A., Inc released its financial results for the second quarter ended June 30, 2021.

    Q2 2021 financial highlights

    • SKECHERS U.S.A. sales were $1.6 billion in Q2 2021 compared to $729.5 million in Q2 2020.
    • The gross profit was $849.5 million in Q2 2021 compared to $368.6 million in Q2 2020.
    • Selling, general and administrative expenses were $652.4 million in Q2 2021 compared to $432.1 million in Q2 2020.
    • Net earnings were $137.4 million and diluted earnings per share were $0.88 in Q2 2021 compared to $68.1 million and diluted earnings per share of $0.44 in Q2 2020.
    • As of June 30, 2021, the company had cash, cash equivalents and investments totalled $1.32 billion.

    Skechers collaboration with kansaïyamamoto

    On July 21, 2021, The new variety of footwear will arrive soon on Skechers which is inspired by the late iconic Japanese designer Kansai Yamamoto.

    The limited-edition Skechers x kansaïyamamoto collection of four fashion sneakers for men and women embrace Kansai’s aesthetic and will launch on the first anniversary of his passing, July 21, in Japan, North America, and Europe.

    Official Team Footwear Supplier of the 2021 Solheim Cup

    On June 29, 2021, Skechers was named as the official footwear supplier of both the European and United States Solheim Cup Teams for the 2021 tournament, for the first time. The footwear company has designed exclusive Skechers GO GOLF Elite 3™ styles in unique colours for the United States and European teams, to be provided to players with Skechers also providing footwear to caddies and support staff during the September event at Inverness Club in Toledo, Ohio.

    Skechers crossed 80-Plus RS Rating Benchmark

    On June 28, 2021, Skechers cleared the 80-plus RS Rating Benchmark, with a jump from 78 to 81 on Monday.

    This exclusive rating from Investor’s Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock’s price performance over the trailing 52 weeks stacks up against all the other stocks in our database.

    Conclusion

    The announcement of improved Q2 2021 financial results was the reason behind its good performance on Thursday. the SKX stock can close the weekly trading by continuing its momentum on Friday as well.