STOCKS TELEGRAPH

Author: Asim Kamal

  • Why did Wrap Technologies Inc. (WRAP) stock flip in the after-hours on Friday?

    Wrap Technologies Inc. (WRAP) shares rose 7.53% in after-hours on Friday, July 2, 2021, and closed the weekly trading at $8.00 per share. Earlier in the morning session on Friday, WRAP’s stock lost 2.49% to close Friday’s session at $7.44 per share. WRAP shares have fallen 33.27% over the last 12 months, and they have moved down 10.47% in the past week. Over the past three months, the stock has gained 38.81%, while over the past six months, it has declined 54.04%.

    Let’s see what are the recent news and developments about WRAP?

    New appointment

    On July 02, 2021, Wrap Technologies, Inc. appointed Glenn Hickman as Chief Operating Officer. Hickman will work closely with the growing engineering and operations teams to continue building out WRAP’s product lines. Woody Norris, the inventor of the BolaWRAP, retired as CTO at the end of June and will continue to play an active role at WRAP as a strategic consultant focusing on innovations.

    WRAP Reality Virtual Training Platform was chosen by Princeton Police Department

    On June 30, 2021, the Princeton Police Department in New Jersey selected the WRAP Reality Virtual Training Platform to deliver the latest simulator training technology to Princeton’s police officers.

    Princeton PD will now have access to WRAP Reality’s robust, cutting-edge training scenarios and technological innovation.

    2021 Virtual Annual Meeting of Stockholders

    Wrap Technologies held its shareholders’ annual meeting virtually on June 22, 2021, at 9:00 A.M. Pacific Time.

    Expiration of Warrants

    On June 21, 2021, Wrap Technologies, Inc announced that the exercise period of warrants issued in connection with the Company’s 2019 offering of units consisting of common stock and warrants expired on Friday, June 18, 2021, and unexercised warrants are no longer exercisable.

    In 2019, the Company issued 1,923,076 warrants to participating investors, each exercisable at $6.50 per share, and 153,846 warrants to the placement agents for the 2019 Unit Financing, each exercisable at $8.125 per share. The company received $12.05 million of these proceeds this fiscal quarter to date ending on June 30, 2021.

    Participation at United Kingdom Healthcare’s Restraint & Safety Conference

    Wrap Technologies, Inc was a featured presenter at Healthcare Conferences UK’s first international conference of the Safety Without Compromise Expert Group. The event held virtually on June 17, 2021.

    WRAP President & CEO Tom Smith led the discussion entitled “Restraint & Safety” to discuss methods for safer use of force, including the Company’s BolaWrap® Remote Restraint device.

    Demonstration of the BolaWrap®

    On June 11, 2021, Wrap Technologies, Inc demonstrated the BolaWrap for the Miami Police Department followed by a second demonstration at Miami’s City Hall for the City Commissioners, Miami Mayor Francis Suarez and local media.

    Mayor Suarez experienced the BolaWrap technology for himself when WRAP Master Instructors deployed the device at the Mayor, successfully double-wrapping his legs, at the City Hall demonstration.

    Conclusion

    We have only one recent news which is the new COO announcement which may or may not be the reason behind its flip on Friday. Let’s see how it opens the new week after the long weekend.

  • Why Cabaletta Bio Inc. (CABA) stock performed well on Friday?

    Cabaletta Bio Inc. (CABA) shares jumped 9.49% in after-hours on Friday, July 2, 2021, and closed the week at $9.23 per share. Earlier, CABA’s stock gained 11.51% to close Friday’s session at $9.40. CABA shares have fallen 25.46% over the last 12 months, and they have moved up 12.70% in the past week. Over the past three months, the stock has lost 27.33%, while over the past six months, it has declined 32.45%.

    Let’s see what are the latest news and developments about CABA?

    New appointment

    On June 28, 2021, Cabaletta Bio, Inc appointed veteran biopharmaceutical leader, Scott Brun, M.D., to its Board of Directors.

    Dr. Brun has over 20 years of wide-ranging drug development and business development experience in many reputable pharmaceutical companies and worked in different executive positions.

    Participation in the recent investor conference

    Cabaletta Bio, Inc recently participated in a fireside chat at the Jefferies Healthcare Conference which held on Thursday, June 3, 2021. The company was presented by President and Chief Executive Officer, Steven Nichtberger, M.D.

    Earlier the company also took part in the 20th Annual Needham Healthcare Conference which held on Wednesday, April 14, 2021.

    Favourable Safety Profile of DSG3-CAART

    On May 03, 2021, Cabaletta Bio, Inc reported acute safety data from the first dose cohort of the ongoing DesCAARTes™ Phase 1 clinical trial of DSG3-CAART for the treatment of patients with mucosal-dominant pemphigus vulgaris (mPV).

    There were no clinically relevant adverse events in the first cohort of three patients dosed with DSG3-CAART.

    Also, two patients who have completed more than the full 28-day DLT monitoring period post-infusion did not get clinically relevant adverse events or toxicities.

    Recent financial results announcement

    On May 03, 2021, Cabaletta Bio, Inc released its financial results for the first quarter ended March 31, 2021.

    Q1 2021 financial highlights

    Cabaletta Bio suffered a net loss of $9.7 million or a net loss per, basic and diluted share of $0.41 in Q1 2021 compared to $7.5 million or a net loss per, basic and diluted share of $0.33 in Q1 2020.

    • Research and development expenses were $6.6 million for Q1 2021 compared to $4.6 million for the same period in 2020.
    • General and administrative expenses were $3.2 million in Q1 2021, compared to $3.3 million for the same period in 2020.
    • The company had cash, cash equivalents and investments totaled $102.0 million on March 31, 2021, compared to $108.7 million as of December 31, 2020.

    Conclusion

    Well, as of this writing, we have no recent development in July which we could like with its recent good performance. We hope that CABA stock will commence the new week by continuing its positive momentum.

  • Here is why Ocugen Inc. (OCGN) stock turnaround in the after-hours on Friday?

    Ocugen Inc. (OCGN) shares gained 13.85% in after-hours on Friday, July 2, 2021, and closed at $8.30 per share. Earlier in the morning session on Friday, OCGN’s stock lost 6.90% to close Friday’s session at $7.29. OCGN shares have risen 3195.66% over the last 12 months, and they have moved down 12.69% in the past week. Over the past three months, the stock has gained 10.96%, while over the past six months, it has shed 298.36%.

    Let’s have a look at its recent developments.

    Positive results from phase 3 study of COVAXIN

    On July 02, 2021, Ocugen, Inc, co-development partner, Bharat Biotech, shared positive results of its Phase 3 study of COVAXIN. COVAXIN™ demonstrated a vaccine efficacy in mild, moderate, and severe COVID-19 disease of 77.8% with efficacy against severe COVID-19 disease alone of 93.4%.

    In phase 3 clinical trial, 25,798 participants across 25 sites and between 18-98 years of age in India were enrolled, including 2,750 over the age of 60 and 7,065 with comorbidities.

    Subjects vaccinated with COVAXIN™ in the phase 3 trial, achieved greater protection against emerging B.1.617.2 (delta) and B.1.351 (beta) variants than those who had previous natural infections. The phase 3 results showed an efficacy rate of 65.2% (95% CI; 33.1-83.0).

    New appointment

    On June 21, 2021, Ocugen, Inc appointed Ken Inchausti as Head, Investor Relations & Communications. Mr Inchausti will oversee the company’s investor relations activities, corporate communications and strategic positioning, leading issues management strategy and proactive media and social media relations programming.

    Inducement grants

    On June 18, 2021, the Board of Directors of Ocugen approved the grant of stock options to purchase an aggregate of 157,450 shares of its common stock and restricted stock units (RSUs) covering an aggregate of 26,300 shares of common stock to four new employees.

    Coronavirus Vaccine Manufacturer in the US

    On June 15, 2021, Ocugen, Inc selected Jubilant HollisterStier of Spokane, Washington as its manufacturing partner for COVAXIN™ to prepare for potential commercial manufacturing of COVAXIN™ for the US and Canadian markets.

    Ocugen aimed for full U.S. approval of COVAXIN

    On June 10, 2021, Ocugen Inc said that the company is no longer pursue an emergency use authorization for its COVID-19 vaccine candidate and would instead aim to file for a full U.S. approval of the shot.

    The decision is based on FDA asked for more information and data for full approval.

    Conclusion

    The recent phase 3 trial results of COVAXIN showed positive results against deadly variants which was the reason behind its surge in the after-hours on Friday. the OCGN stock can continue its surge on Tuesday, after the long weekend.

     

  • Why Adtalem Global Education Inc. (ATGE) stock performed well on Thursday?

    Adtalem Global Education Inc. (ATGE) shares gained 7.11% in after-hours on Thursday, July 1, 2021, and closed the day at $39.30 per share. Earlier in the morning session, ATGE’s stock gained 2.95% to close Thursday’s normal session at $36.69 per share. ATGE shares have risen 17.86% 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 8.50%, while over the past six months, it has declined only 11.49%.

    Joining S&P SmallCap 600

    Adtalem Global Education will replace Boston Private Financial Holdings Inc. in the S&P SmallCap 600 effective before the opening of trading on Wednesday, July 7, 2021.

    CAFCA Scholarship Program for BIPOC

    On June 16, 2021, the Association of Certified Anti-Money Laundering Specialists which is a part of Adtalem Global Education Inc.’s ATGE Financial Services unit, has announced a scholarship program for Black, Indigenous, and People of Color (BIPOC) professionals to become Certified AML FinTech Compliance Associate (CAFCA).

    The CAFCA program is only for 30 applicants to take the FinTech compliance certification course with a full waiver of fees. The applicants will get enhanced compliance skills and knowledge of FinTech personnel working in entry-level financial crime prevention.

    New appointment

    On June 14, 2021, Adtalem Global Education appointed Douglas G. Beck as Senior Vice President, General Counsel, and Corporate Secretary, effective immediately. Beck is responsible for the legal department’s operations and advice and counsel provided to clients in the areas of commercial, corporate governance, IP, labour and employment, litigation, M&A, real estate, regulatory and compliance, and securities.

    Update about its medical student graduation

    On June 3, 2021, Adtalem Global Education announced that more than 1,000 students graduated from its two medical schools – American University of the Caribbean School of Medicine (AUC) and Ross University School of Medicine (RUSM) – and its Ross University School of Veterinary Medicine (RUSVM) during recent commencement ceremonies.

    Graduates from Adtalem’s two medical schools will fulfil the critical workforce shortages in primary care across the U.S. and contribute to the diversity of the profession.

    Adtalem Global Education and LCMC HealthlaunchedTuition-Free Nursing Program

    On May 27, 2021, Chamberlain University which is a subsidiary of Adtalem Global Education Incand LCMC Health partnered to address the need for more nurses by expanding access to tuition-free education.

    The Called-to-Care Scholars Program will address the critical staffing challenges and decreased patient care readiness. It is estimated that by 2030, the United States is likely to face a shortage of about half a million nurses.

    Conclusion

    Well, there is no significant development or news which could justify its gains on Thursday. we are not sure how ATGE will perform on the last day of the week.

  • Here is why Iterum Therapeutics plc (ITRM) stock plummeted on Thursday?

    Iterum Therapeutics plc (ITRM) shares plunged 39.74% in after-hours on Thursday, July 1, 2021, and closed the day at $1.38 per share. earlier in the morning session, ITRM’s stock lost 0.87% to close Thursday’s normal session at $2.29 per share. ITRM shares have risen 92.44% over the last 12 months, and they have moved up 12.81% in the past week. Over the past three months, the stock has gained 56.85%, while over the past six months, it has declined 140.55%.

    Let’s have a look at ITRM recent developments.

    Recent Regulatory Update about sulopenemetzadroxil/probenecid

    On July 01, 2021, Iterum Therapeutics plc received a letter from the U.S. Food and Drug Administration (FDA) stating that as part of their ongoing review of the Company’s New Drug Application (NDA) for sulopenemetzadroxil/probenecid.

    The FDA identified deficiencies that prevent the continuation of the discussion of labeling and post-marketing requirements. The notification does not reflect a final decision on the information under review and FDA has set July 25, 2021, for completion of its review of the NDA.

    Recent financial results

    On May 14, 2021, Iterum Therapeutics plc announced its financial results for the first quarter ended March 31, 2021.

    Q1 2021 financial highlights

    • Research and development expenses were $2.5 million inQ1 2021 compared to $9.7 million for the same period in 2020.
    • General and administrative expenses were $3.4 million in Q1 2021 compared to $3.2 million in Q1 2020.
    • Iterum suffered from a non-GAAP net loss of $6.1 million in Q1 2021 compared to a non-GAAP net loss of $13.4 million for Q1 2020.
    • Iterum reported a net loss of $98.9 million in Q1 2021 compared to a net loss of $16.1 million in Q1 2020.
    • Net loss per share attributable to ordinary shareholders, basic and diluted was $0.81 in Q1 2021 compared to $1.08 in Q1 2020.
    • Iterum had cash, cash equivalents and short-term investments of $100.5 million on March 31, 2021. 

    Participation in the investor and health conferences

    Iterum Therapeutics participated in the 20th Annual Needham Virtual Healthcare Conference which held on Thursday, April 15, 2021. The company was presented by Chief Executive Officer, Corey Fishman.

    The company took part in HC Wainwright Global Life Sciences Conference which held on March 9, 2021.

    The company also participated in SVB Leerink Annual Global Healthcare Conference which held on Thursday, February 25, 2021.

    New Board member

    On March 16, 2021, Iterum Therapeutics appointed Beth P. Hecht to the Company’s Board of Directors replacing Patrick Heron, who left the Board on March 12, 2021. Ms. Hecht will also serve as a member of the Audit Committee and Compensation Committee of the Board.

    Conclusion

    The recent letter from the FDA identifying the deficiencies in its NDA for sulopenemetzadroxil was the reason behind its poor performance on Thursday. ITRM can face more headwinds on Friday as well.

  • Here is why Cerence Inc. (CRNC) stock had a GOOD Thursday?

    Cerence Inc. (CRNC) shares gained 7.77%  in after-hours on Thursday, July 1, 2021, and closed the day at $117.01 per share. Earlier in the morning session, CRNC’s stock gained 1.74% to close Thursday’s session at $108.57. CRNC shares have risen 159.99% over the last 12 months, and they have moved down 4.77% in the past week. Over the past three months, the stock has gained 16.32%, while over the past six months, it has shed 6.04%.

    Cerence debut on S&P MidCap 400

    Cerence Inc will replace Adtalem Global Education Inc in the S&P MidCap 400effective before the opening of trading on Wednesday, July 7, 2021.

    Boston CIO of the Year

    On June 24, 2021, Cerence ‘s Chief Information Officer, Bridget Collins, was named 2021 Boston CIO of the Year® in the Corporate category, chosen by her CIO peers.

    The CIO of the Year® ORBIE® Awards is the premier technology executive recognition program in the United States.

    Cerence and SiriusXM partnership

    On June 10, 2021, Cerence Inc announced to team up with SiriusXM to bring Cerence’s conversational AI technologyas part of a packaged offering for automakers.

    The two companies will work together to enrich the driver experience by offering natural, conversational access to SiriusXM. The partnership will also better voice technology to more drivers across more OEMs and deliver an easy-to-use and more uniform way.

    Cerence and Pioneer partnership

    On June 08, 2021, Pioneer Corporation and Cerence Inc signed a strategic partnership agreement to develop scalable, secure, AI-powered products and services for the mobility world.

    The agreement will combine the leading-edge technologies of Pioneer and Cerence to utilize the companies’ respective knowledge and technologies to accelerate and develop products and services that enhance mobility experiences for drivers and passengers globally.

    Cerence was awarded to power WISE

    On June 03, 2021, SAIC-GM-Wuling selected Cerence Inc to power WISE(Wuling Interconnected Smart Ecosystem) which is the integration of Internet vehicle and ADAS features, as well as the upgraded generation of WIND (Wuling Indonesian Command).

    WIND was launched in Wuling Almaz in 2019 as the automaker’s first smart model built for a market outside of China.WIND marks a significant milestone as Cerence supports Wuling’s journey of globalization with optimized recognition of the Indonesian language, as well as additional voice-powered features and functionalities.

    Cerence Partnership with CarPay-Diem 

    On May 18, 2021, Cerence Inc announced the integration of the CarPay-Diem fuel payment platform into Cerence Pay. Cerence Pay delivers a secure, contactless payment experience in the car through voice-powered AI, enabling drivers to make key purchases like gas, food and parking through a world-class ecosystem of merchant partners, now including CarPay-Diem fuel retail partners.

    Conclusion

    Well, as of this writing, we have only one news which is its upcoming inauguration on S&P MidCap 400 which may or may not be the reason behind its good performance on Thursday. we hope that it will continue to perform well on the last day of the week.

  • Here is why TAT Technologies Ltd. (TATT) stock rallied in the after-hours on Thursday?

    TAT Technologies Ltd. (TATT) shares surged 53.59% in after-hours on Thursday, July 1, 2021, and closed the business at $9.10. Earlier in the morning session, TATT’s stock lost 0.59% to close Thursday’s session at $5.93 per share. TATT shares have risen 49.62% over the last 12 months, and they have moved up 2.33% in the past week. Over the past three months, the stock has gained 15.50%, while over the past six months, it has declined 31.08%.

    Let’s see why TATT stock rallied in the after-hours on Thursday?

    New Partnership with Honeywell

    On July 1, 2021, TAT Piedmont which is a fully owned subsidiary of TAT Technologies Ltd, signed an additional new strategic MRO and lease agreement with Honeywell for the maintenance repair and overhaul of Honeywell’s 131 Series of Auxiliary Power Units.

    Honeywell’s 131 SeriesAPU serves the Boeing 737 and Airbus 319/320/321 among other aircraft types with over 16,000 engines worldwide and additional units to be produced in the future.

    Partnership with Lufthansa Technik Shenzhen

    On May 19, 2021, TAT Technologies Ltd signed a partnership with Lufthansa Technik Shenzhen to establish a leading repair facility in China for Maintenance, Repair, and Overhaul of aircraft heat transfer components. The facility will support operators in the Asia Pacific region. The companies have already begun supporting operators in China through TAT Technologies on an interim basis.

    Recent financial results announcement

    On May 13, 2021, TAT Technologies Ltd released its unaudited results for the three months ended March 31, 2021.

    Q1 2021 financial highlights

    • TAT Technologies Ltd reported increased revenue of $18.3 million in Q1 2021 compared to6 million in Q1 2020.
    • For Q1 2021, gross profit was $3.4 million compared to$4.6 million in Q1 2020.
    • The gross margin was 18.6% for Q1 2021 compared to 18.5% in Q1 2020.
    • Adjusted EBITDA was $1.6 million in Q1 2021 compared to$2.5 million in Q1 2020.
    • The company earned a net income of $0.6 million in Q1 2021 compared to a net income of $0.4 million in Q1 2020.

    FY 2020 financial results announcement

    On March 30, 2021, TAT Technologies Ltd released its audited results for the twelve months ended December 31, 2020.

    FY 2020 financial highlights

    • TAT Technologies reported revenue of $75.3 million for FY 2020 compared to $97.4 million for the twelve months ended December 31, 2019.
    • Gross profit was $8.4 million for FY 2020 compared to $15.3 million in FY 2019.
    • Adjusted EBITDA was $1.1 million in FY 2020 compared to $7.1 million in FY 2019.
    • The company suffered a GAAP net loss of $3.5 million from continued operations in FY 2020 compared to GAAP net income of $1.5 million in FY 2019.

    Conclusion

    The new partnership news with Honeywell took the TATT stock towards the positivity in the after-hours on Thursday. TATT can close the weekly trading by continuing its surge on Friday as well.

  • Here is why CureVac N.V. (CVAC) stock plunged in the after-hours on Wednesday?

    Here is why CureVac N.V. (CVAC) stock plunged in the after-hours on Wednesday?

    CureVac N.V. (CVAC) shares dipped 8.82% in after-hours on Wednesday, June 30, 2021, and closed at $67.00 per share. Earlier in the morning session, CVAC’s stock gained 8.92% to close Wednesday’s normal trading session at $73.48. CVAC shares have moved up by 29.12% in the past week. Over the past three months, the stock has lost 19.66%, while over the past six months, it has shed 13.42%.

    Let’s see why CVAC stock faced negativity in the after-hours on Wednesday?

    Low efficacy recorded in the final trial of COVID-19 CVnCoV vaccine

    On June 30, 2021, CureVac N.V. announced results from the final analysis of its 40,000 subject international pivotal Phase 2b/3 study (the HERALD study) of the first-generation COVID-19 vaccine candidate, CVnCoV.

    CVnCoV demonstrated an overall vaccine efficacy of only 48%against COVID-19 disease of any severity, including single non-respiratory mild symptoms.

    The efficacy of 53% was achieved among participants in the age group of 18 to 60.

    In the same age group, CVnCoV provided 100% protection (vaccine 0 vs. 6 placebo) against hospitalization or death. The data confirm the favourable safety profile of CVnCoV in all age groups.

    New appointments

    On June 30, 2021, CureVac N.V. appointed Dr. Malte Greune as Chief Operating Officer (COO) effective July 1, 2021.

    Dr Florian von der Mülbe, co-founder and Chief Production Officer of the company will also now focus his extensive production expertise exclusively on the expansion and accelerated development of The RNA Printer(R).

    On June 2, 2021, CureVac N.V. appointed Klaus Edvardsen, MD, Ph.D., as Chief Development Officer. The appointment of Dr. Edvardsen will take effect on August 1, 2021.

    Supervisory Board Update

    On June 23, 2021, CureVac N.V. announced that Dr. Ingmar Hoerr, former Founding-CEO and former member of the Supervisory Board of CureVac, has withdrawn his candidacy for nomination to the Supervisory Board.

    Recent financial results announcement

    On May 26, 2021, CureVac N.V released its financial results for the first quarter of 2021.

    Q1 2021 financial highlights

    • CureVac reported revenue of €10.0 million for the first three months of 2021 compared to revenue of €3.1 million for the same period in 2020.
    • The company suffered from an operating loss of €115.8 million for the first three months of 2021 compared to an operating loss of €23.2 million for the same period in 2020.
    • The cost of sales and other operating expenses were €26.3 million for Q1 2021 compared to €125.8 million in Q1 2020.
    • As of March 31, 2021, the company had cash and cash equivalents of€1,497 million compared to €1,323 million as of December 31, 2020. 

    Conclusion

    The CVAC stock plummeted after the company announced that its Covid-19 vaccine shows 48% efficacy in the final analysis. The CVAC stock can further go down on Thursday as well because it’s a major setback for the company. 

  • Here is why EZGO Technologies Ltd. (EZGO) surged on Wednesday?

    Here is why EZGO Technologies Ltd. (EZGO) surged on Wednesday?

    EZGO Technologies Ltd. (EZGO) shares rose 4.60% in after-hours on Wednesday, June 30, 2021, and closed the day at $4.55 per share. Earlier in the morning session, EZGO’s stock gained 7.14% to close Wednesday’s normal trading session at $4.35 per session. EZGO shares have moved up by 12.69% in the past week. Over the past three months, the stock has lost 26.40%, The company has a current market of $58.46 million and its outstanding shares stood at 13.44 million.

    Let’s see what are the latest news and developments about EZGO?

    Recent financial results announcement

    On June 30, 2021, EZGO Technologies Ltd released its unaudited financial results for the six months ended March 31, 2021.

    Financial highlights of six months

    • EZGO TechnologiesLtd reported revenue of $9.6 million for the six months ended March 31, 2021, compared to approximately $5.5 million for the six months ended March 31, 2020.
    • The gross margin was 9.7% for the six months of 2021 ended March 31, 2021, compared to 9.6% for the same period in 2020.
    • Total operating expenses were $1.32 million for the reported six months compared to $1.22 million in the same period in 2020.
    • For the six months ended March 31, 2021, the company suffered a net loss of $0.3 million, compared with a net loss of $0.6 million for the same period in 2020.
    • As of March 31, 2021, the company has cash and cash equivalents of approximately $7.1 million compared to approximately $0.3 million on September 30, 2020.

    Closing of Upsized $12 Million Registered Direct Offering

    On June 2, 2021, EZGO Technologies Ltd closed a registered direct offering of an aggregate of 2,564,102 units of its securities with each Unit consisting of (i) one ordinary share of the Company, par value $0.001 per share, and (ii) one warrant to purchase 0.7 ordinary shares for aggregate gross proceeds of approximately $12 million. The warrants are exercisable immediately, have an exercise price of $4.68 per share, and expire two years from the date of issuance.

    Expansion of e-bicycle production operations

    On May 20, 2021, EZGO Technologies Ltd agreed to acquire land and factory buildings owned by Tianjin Jiahao Bicycle Co., Ltd for a total purchase price of approximately US$10.2 million.

    With this addition, EZGO will have more than 35,000 square meters of factory land, including two factory buildings and an administration building, and a construction area of approximately 11,000 square meters.

    The expansion will provide a production capacity of 500,000 units of two-wheeled e-bicycles.

    Conclusion

    The EZGO share price went up on Wednesday after the company announced its financial results for six months. EZGO stock can end the week at a higher price by continuing its positive momentum on Thursday and Friday as well.

  • Here is why U.S. Well Services Inc. (USWS) performed well on Wednesday?

    Here is why U.S. Well Services Inc. (USWS) performed well on Wednesday?

    U.S. Well Services Inc. (USWS) shares jumped 14.85% in after-hours on Wednesday, June 30, 2021, and closed the day at $1.16 per share. Earlier in the morning session, USWS’s stock gained 2.34% to close Wednesday’s normal trading session at $1.01 per share. USWS shares have risen 107.18% over the last 12 months, and they have moved up 4.12% in the past week. Over the past three months, the stock has lost 2.88%, while over the past six months, it has declined 146.34%.

    Let’s have a look at its recent development.

    Commitment to Purchase 120 Electric Motors 

    on June 30, 2021, U.S. Well Services committed to purchase 60 Power Cubes from AmeriMex Motor & Controls, LLC which is a subsidiary of Industrial Service Solutions. Each patented Power Cube contains two 3,000 HHP electric motors, two variable frequency drives, a power transformer, and other components that combine to create a self-contained power centre. The Company expects to begin taking delivery of the Power Cubes in the third quarter of 2021.

    Important updates to execute strategic plans

    On June 28, 2021, U.S. Well Services issued $125.5 million of 16.0% Convertible Senior SecuredPIK Notes due June 2026 in a private placement to institutional investors. The Company sold $64.0 million of Notes convertible into U.S. Well Services Class A Common Stock and $22.5 million of Notes convertible into licenses to ProFrac Manufacturing, LLC. The above-mentioned transactions are done to execute its previously announced strategic plan to grow and become a fully electric hydraulic fracturing services provider.

    Surge EnergyElectric Frack Fleet Field Trial

    On June 25, 2021, Surge Energy US Holdings Company partnered with the U.S. Well Services on a field trial using USWS’ all-electric Clean Fleet®. This project represents Surge’s first well completions using all-electric hydraulic fracturing technology.

    USWS leaving Diesel Frac Market

    USWS reassured its commitment to fully exit the diesel frac market by the end of 2021 and replacing it with all-electric hydraulic fracturing.

    The company can become the first publicly traded, pure-play electric completion service provider if it fulfils its commitment.

    USWS electric frac technology significantly reduce emissions and sound pollutions. It also increased operating efficacies which reduced major fuel cost savings for the end customers.

    Next-Generation Nyx Clean Fleet® Pump

    On May 19, 2021, U.S. Well Services released the next generation of its proprietary Clean Fleet® technology with the unveiling of its newly designed Nyx Clean Fleet® frac pump. Nyx will use USWS patented PowerCube, driving two independently controlled electric motors and frac pumps to provide 6,000 hydraulic horsepower on a single trailer.

    Partnership with Northeast Natural Energy for Clean Fleet® Trial

    On May 18, 2021, U.S. Well Services announced that it is preparing to commence operations on a 5 well pad located in Monongalia County, W.Va. for Northeast Natural Energy LLC. This project will be NNE’s first well completion using an all-electric hydraulic fracturing fleet provided by USWS.

    Conclusion

    The purchasing of 120 electric motors could be the reason behind its exceptional performance on Thursday. the company is fulfilling its commitment which is providing more trust to investors and hence USWS stock price is going up.