STOCKS TELEGRAPH

Author: Hassan Masood

  • Camber Energy, Inc. (CEI) Stock Continually Rising the Slope, Here’s Why

    Camber Energy, Inc. (CEI), an independent oil and natural gas company has increased 4.14% in the premarket trading session and is changing hands at $1.76 at the time of this writing. On Tuesday, CEI closed the day at $1.69 after surging 22.46% during the mid-day session. The reason for this continuous increase in CEI stock is a push by Twitter’s “FinTwit” community, as the stock is highly popular among the community. Let’s discuss some recent developments related to CEI stock.

    Claims of securities fraud

    Recently, several law firms have been investigating claims of securities fraud against CEI. On 5th October 2021, Kerrisdale Capital released a report. The report alleged that Camber had failed to file its financial statements with SEC since September 2020. The report said that CEI stock is in danger of getting delisted next month. Due to the same reason, CEI fired its accounting firm in September. Further, the report highlighted that the company only has one real asset, which is a 73% stake in OTC traded company having a negative book value. Kerrisdale Capital also said that the market is mistaken about the company’s share count and doesn’t know its terrible capital structure as evident from the fact that its fully diluted share count is about triple the widely reported number. As a result of the allegations, CEI stock fell a monumental 50% and law firms started investigating the claims on behalf of its investors.

    CEI subsidiary Viking Q2 2021 financial results

    On 17th August, the majority-owned subsidiary of CEI, namely Viking Energy Group Inc., reported the financial results for the second quarter of the fiscal year 2021 which ended on 30th June. Camber owns approximately 73% of the issued and common outstanding shares in Viking. The company generated a record revenue of $10.69 million against the revenue of $9.54 million for the same period of 2020 and $8.73 million for the same period of 2019. James Doris, President and Chief Executive Officer of both Camber and Viking, commented on the results that Camber is pleased with Viking’s outstanding results. Further, he said that the company is excited about the steps it has taken to for strengthening the organization, the prime among them being Viking’s acquisition of a major interest in Simson-Maxwell Ltd.

    Future for CEI

    The recent developments, however, haven’t much affected the performance of CEI stock. During the last three months, CEI stock has burgeoned by more than 200%. Analysts believe that the recent boom in oil prices could provide Camber with a chance to improve its business model.

  • ATI Physical Therapy, Inc. (ATIP) Stock on a Sharp Decline in Premarket, Here’s Why

    ATI Physical Therapy, Inc. (ATIP) Stock on a Sharp Decline in Premarket, Here’s Why

    ATI Physical Therapy, Inc. (ATIP), an outpatient physical therapy provider, has declined 15.07% in the premarket trading session. As a result, ATIP was trading at $3.10 when last checked. The decline has come after the company reported preliminary third-quarter 2021 results in the early hours of Wednesday. On Tuesday, ATIP closed the day at $3.65 after increasing 2.24% in regular trading hours.

    ATIP announced Q3 2021 preliminary results

    According to the details, ATIP announced the selected preliminary results for the third quarter of the fiscal year 2021 which ended on 30th September 2021. The company said that it anticipates the revenue for the quarter to be about $159 million. The income before taxes is expected to stand around $147 million. Besides, the adjusted EBITDA was could be $8 million approximately. The company implemented targeted measures to reduce the clinical staff’s attrition and for improvement in clinical full-time equivalent (FTE) growth during the last two months of the quarter. Apart from that, the company made rapid progress toward restoring FTEs with the ATI hiring roughly 2 clinicians with every 1 departure in August and September 2021. Compared to that, the ratio for the second quarter stood at 1 to 1. Commenting on the results, Jack Larsen, Executive Chairman of ATI Physical Therapy, said that the company remains confident about long-term growth prospects for it.

    Q2 2021 financial highlights

    On 16th August, ATIP reported the detailed financial results for the second quarter of the fiscal year 2021 which ended on 30th June 2021. The company had cash and cash equivalents of $90.56 million on 30th June. The total assets in possession of the company were $2.08 billion, while total liabilities were $1.26 billion. The net revenue generated by the company during the period was $164.03 million against $107.75 million for the same period of 2020. The total clinical operating costs for the period were $128.58 million against $96.61 million for the same period of 2020. The operating loss for the period was $458.05 million against $13.62 million for the same period of 2020. The net loss for three month period was $452.46 million (or net loss of $3.22 per basic and diluted share) against the net income of $4.59 million (or net income of $0.02 per basic and diluted share) for the same period of 2020.

    What’s ahead for ATIP?

    During the last three months, ATIP has declined more than 50%. The prime reason for the decline appears to be the ongoing investigations against ATIP by numerous law firms. The investigations are based upon the provision of false and misleading statements to the market by the company. Analysts believe that ATIP has the potential to attract investors once it comes out of these ongoing investigations successfully.

  • ION Geophysical Corp. (IO) Stock Burgeoned on Monday, Here’s Why

    ION Geophysical Corp. (IO) Stock Burgeoned on Monday, Here’s Why

    ION Geophysical Corp. (IO), a company providing data-driven decision-making to offshore energy, ports, and defence industries globally, has declined 5.05% in the premarket trading session, and is trading at $2.07 at the time of this writing. On Monday, IO stock closed the day at $2.18 after surging a massive 56.83% during regular trading hours. The phenomenal increase has come after the announcement of preliminary third quarter 2021 record revenue.

    Expectations about Q3 2021 revenue

    IO announced on Monday that it expects the third quarter of 2021 revenues to be in the range of $44-$45 million. That’s an increase of 125% sequentially and 175% from the same period of 2020. Apart from that, the company could report a significant sequential improvement in Q3 2021. The company further said that its total liquidity improved to about $35 million. It included $24 million of cash and cash equivalents and $11 million of available borrowing capacity. Further, the E&P backlog is estimated to be about $12 million. The third phase of the Mid North Sea High 3D multi-client program strengthened that backlog program. The company initiated the program in September. Chris Usher, ION’s President, and CEO, stated that the revenue increase was consistent with the company’s expectation of continually building the momentum. He further said that the company is making efforts to secure a multi-million dollar digitization project of port management and it has made good progress in that regard.

    Developments related to IO platform Marlin SmartPort

    On 14th October, IO announced that its climate support platform, namely Marlin SmartPort™, was featured in a British Ports Association Program, Gateways to Growth. The program highlighted the vital contribution of the ports toward the societies. Marlin SmartPort enables operations to be safer and smarter. Besides, it aims at making the port hub of environmental transition by digitization process as well as connecting stakeholders to the critical data. Apart from that, the company launched two new Marlin SmartPort Modules. One of them, Agent Portal, enables agents and vessels. Agent Portal could access a plethora of real-time information and directly book port calls. The other, billing management module, captures a timestamp of all billable activities that could integrate into an existing financial system.

    What’s next for IO?

    During the previous quarter, IO has surged more than 40%. The continuous improvement in oil prices after the mitigation in effects of the pandemic is the prime mover behind the development. With the increasing energy demand, the energy-related stocks, including IO, could flourish in the future.

  • Kaival Brands Innovations Group, Inc. (KAVL) Stock Soaring in Premarket, Here’s Why

    Kaival Brands Innovations Group, Inc. (KAVL), a blank check company, has surged 20.50% in the premarket trading session. Consequently, KAVL stock was trading at $1.94. In the regular trading hours of Monday, KAVL stock surged 18.38% and closed the day at $1.61. The increase has come after the FDA approved Vuse e-cigarettes, which is its first vape authorization. Complete details are not out yet, so let’s discuss some recent developments related to KAVL.

    KAVL plans of launching in the UK

    On 5th October, KAVL announced its plans to launch the distribution of its products in the UK. The company said that it intends to shift its focus to international markets. At the time, the flavoured ENDS faced hurdles to get back on the US market. That was due to denial of marketing authorization by the US FDA. Being an exclusive global partner of products manufactured by Bidi Vapor, LLC, the company had received marketing and distribution approval in 11 markets throughout the world. With the favourable market dynamics in the UK, the company said that it had focused its substantial time and efforts toward targeting consumers in the UK. The company said that it believes that it has the budget for marketing, staffing, and executing its business plans successfully in the UK. Kaival Brand’s Founder & CEO, Niraj Patel, said that the company intends to have a strong first year in the UK and recapture the leading market share in ENDS in the US.

    Q3 2021 financial results

    On 14th September, KAVL reported the financial results for the third quarter of the fiscal year 2021 which ended on 31st July 2021. The company had cash and cash equivalents of $938,435 million on 31st July. The total assets in possession of the company were $23.89 million, while total liabilities were $17.52 million. The company generated total revenue of $3.44 million in the quarter against $32.37 million in the same period of 2020. The total cost of revenue for the period was $3.52 million against $27.97 million for the same period of 2020. The gross loss for the period was $84.29 million against the gross profit of $4.39 million for the same period of 2020. The total operating expenses for the period were $3.53 million against $1.47 million for the same period of 2020. The net loss for the three month period was $3.43 million (or the basic and diluted loss per share of $0.15) against the net income of $2.60 million (or the basic and diluted income per share of $0.05) for the same period of 2020.

    What’s ahead for KAVL?

    The recent step of FDA approval of e-cigarettes is a major success for the business of KAVL. Potential investors should keep a close eye on the developments related to the matter in near future. That could aid them in making an informed decision regarding their investment.

  • DLocal Ltd. (DLO) Stock Declining in Premarket Trading Session, Here’s Why

    DLocal Ltd. (DLO), a company operating as a payments platform worldwide, has declined 5.93% in the premarket trading session. As a result, DLO stock is trading at $57 at the time of this writing. The quarterly results for Q3 2021 are perceived to be the reason behind this decline. On Monday, DLO closed the day at $60.59 after declining 1.14% during regular trading hours.

    Q3 2021 financial results

    DLO announced in the late hours of Monday the financial results for the third quarter of the fiscal year 2021 which ended on 30th September 2021. The company said that the total payment volume for the three months was between $1780 million and $1800 million. During the same period of 2020, however, the total payment value was about $572 million. The increase represented a growth of about 211% to 215%. The net revenue retention rate for the period was between 175% and 180% against 175% for the same period of the fiscal year 2020. The net revenue for the three-month period was estimated to be between $67 million and $68 million against $30.9 million for the same period of 2020. The prime reason for this staggering growth, of about 116% to 120%, was due to continued improvements in the company’s enterprise merchants across most verticals.

    DLO began underwritten public offering

    On the same day, i.e. Monday, DLO announced the beginning of underwritten public offering of 16,000,000 Class A common shares. The shares were being offered by certain selling shareholders. The shares were offered pursuant to a registration statement filed with US Securities and Exchange Commission. The selling shareholders would intend to grant the underwriters an option to purchase up to 2,400,000 additional class A common shares in connection with the offering. J.P. Morgan, Goldman Sachs & Co. LLC, Citigroup and Morgan Stanley were serving as the global coordinators for that offering.    

    Launch of dLocal direct issuing

    On 21st September, DLO announced the launch of dLocal’s Direct Issuing, which is a service that enables the merchants to issue their own branded prepaid cards for online and in-store shopping in the local currency. Chilean fintech, namely Vita Wallet, was the first one to accept the product. Moisés Zambrano, CBO, and Founder of Vita Wallet said that the partnership between dLocal and Vita Card would enable people to shop, pay their bills and receive payments much faster.

    What’s ahead for DLO?

    During the last three months, DLO stock has surged more than 25%, primarily due to strong second-quarter results. For the future ahead, the situation seems sanguine. The business expansion plans of dLocal have proven to be exciting for the investors in past and would prove in the future as well.

  • Nxt-ID, Inc. (NXTD) Stock Declining in Aftermarket, Here’s the reason

    Nxt-ID, Inc. (NXTD) Stock Declining in Aftermarket, Here’s the reason

    Nxt-ID, Inc. (NXTD), a company providing technology products and services for healthcare applications, has declined 7.48% in aftermarket trading sessions. Consequently, NXTD stock was trading at $0.37 when last checked. The decline seems to be due to profit-taking after NXTD surged 17.21% on Friday and closed the day at $0.40. The surge resulted from the company’s shareholders’ approval of reverse stock split proposals.

    NXTD shareholders’ approval of reverse stock split

    NXTD announced on Friday that its shareholders had approved the two reverse stock split proposals which were related to the common stock of NXT-ID as well as series C preferred stock. The approbation came at the special shareholders’ meeting of the company. The Board of Directors of the company approved a 1-for-10 reverse stock split for the company’s common stock. Besides, a corresponding 1-for-10 reverse stock split was also approved for the company’s series C preferred stock. The splits had to become effective after the closure of trading hours on Friday. The move ensured that the common stock of the company would continue to be listed on NASDAQ. The company said that it anticipates that the common stock would begin trading on Monday. Commenting on the development, Chia-Lin Simmons, Chief Executive Officer of NXT-ID said that the move would bring the company to a better position to create value for customers and investors.

    Q2 2021 financial highlights

    On 17th August, NXTD reported the financial results for the second quarter of the fiscal year 2021, which ended on 30TH June 2021. The company generated revenue of about $2.8 million, an increase of 14% when compared with the prior quarter. The gross profit for the quarter was $1.8 million against $1.6 million for the first quarter of 2021. The operating expenses were $2 million against $2.3 million for the first quarter of the fiscal year 2021. The operating loss for the three-month period was $212,000 against $783,000 in the prior quarter. The net loss for the quarter was estimated to be $1.2 million, against $5.8 million for the prior quarter. The loss per basic and diluted share for the period was $0.02 against $0.12 for the first quarter of 2021. Chia-Lin Simmons stated that the company has the potential to expand its customer base, as evident from the strong performance.

    What’s ahead for NXTD?

    During the last three months, NXTD stock has declined more than 45%. The prime reason for the decline was the constant mercurial performance of crypto-related stocks. However, a strong quarterly performance and business expansion strategies could change the fortunes of NXTD.

  • VPC Impact Acquisition Holdings (VIH) Stock Steadily Rising in Aftermarket, Here’s Why

    VPC Impact Acquisition Holdings (VIH), a blank check company, has steadily increased 3.53% in aftermarket trading sessions and is changing hands at $9.69 at the time of this writing. The increase has come after the merger of VPC holdings with Bakkt, a digital asset firm. On Friday, VIH closed the day at $9.36 after declining 1.06% during regular trading hours.

    VIH merger with BKKT

    On 14th October, VIH announced that its shareholders approved the previously announced business combination with Bakkt Holdings, LLC, a digital asset marketplace founded in 2018. About 85.1% of the votes were in favor of the business combination with Bakkt. The business combination was expected to close on 15th October 2021, subjected to the satisfaction or waiver of customary closing conditions. The company said that upon closing of the combination, the combined company’s class A common stock and warrants are expected to begin trading at New York Stock Exchange under the ticker symbol BKKT and BKKT WS respectively from 18th October 2021. The company said that the formal results of the voting were to be included in the current report on Form 8-K, which had to be filed with SEC.

    Q2 2021 financials

    On 13th August, VIH reported the financial results for the second quarter of the fiscal year 2021, which ended on 30th June. The company had cash and cash equivalents of $861,171 on 30th June. The total assets in possession of the company were approximately $208.44 million, while total liabilities were about $42.72 million. The total expenses bore by the company during the period were $1.18 million against $3.58 million for the same period of 2020. The company suffered a loss of $1.18 million from the operations against a loss of $3.58 million from the operations in the same period of 2020. The net income for the period was approximately $21.26 million against the net loss of $12.40 million for the same period of 2020. The net income per basic and diluted share for the period was $4.10 against the net loss of $2.40 for the basic and diluted share during the same period of 2020.

    What lies ahead for VIH?

    The merger of VIH with BKKT could prove fruitful for both of the companies, according to the investors. For them, potential investors should keep a close eye on the latest developments and take an informed decision regarding their investments.

  • Avadel Pharmaceuticals plc. (AVDL) Stock Faltering After a Descent Friday

    Avadel Pharmaceuticals plc. (AVDL) Stock Faltering After a Descent Friday

    Avadel Pharmaceuticals plc. (AVDL), a biopharmaceutical company operating in the US, has declined 14.41% in aftermarket trading sessions and is changing hands at $8.55 at the time of writing. On Friday, AVDL closed the day at $9.99 after increasing 6.96% during the mid-day session. The increase came after the announcement of an ongoing FDA review of the NDA.

    Review of AVDL NDA

    On Friday, AVDL announced that U FDA had notified the company regarding the review of the New Drug Application (NDA) for FT218. FDA said that the review of FT218 was still ongoing and no action was to be taken in October. The company was informed by FDA that there were no information requests at the time and a new target action date was to be provided as early as possible. FDA accepted AVDL NDA for FT218 in February 2021. It assigned a target action date of 15th October 2021. The NDA submission to FDA was supported by the positive data from the crucial phase-3 study, namely REST-ON. The study was completed under a Special Protocol Agreement (SPA) with FDA. Greg Divis, Chief Executive Officer of Avadel, commented on the development that the company is confident that the package it has submitted to FDA would be enough to satisfy all of its requests.

    Q2 2021 financial results

    On 9th August, AVDL reported the financial results for the second quarter of the fiscal year 2021, which ended on 30th June. The company had cash and cash equivalents of $67.14 million on 30th June. The total assets in possession of the company were $282.59 million, while the total liabilities were $163.71 million. The research and development expenses for the period were $6.8 million against $4.1 million for the same period of 2020. The general and administrative expenses for the period were $15.2 million against $7.1 million for the same period of 2020. The net loss for the quarter was $19.6 million against $30.9 million for the same period of 2020. The net loss per basic and diluted share for the three months was $0.33 against $0.49 for the same period of 2020.

    What’s ahead for AVDL?

    According to the statistics, AVDL has surged 53% during the last quarter, mainly on the back of excellent financial performance. Analysts believe that any positive update by the FDA regarding the review of FT2018 could provide a major boost to performing ANDL.

     

  • Alcoa Corp. (AA) Stock Leaping Forward in Aftermarket, Here’s Why

    Alcoa Corp. (AA) Stock Leaping Forward in Aftermarket, Here’s Why

     Alcoa Corp. (AA), a company that produces and sells bauxite, alumina, and aluminium products together with its subsidiaries, has increased 6.07% in aftermarket trading sessions. Consequently, AA stock was trading at $51.55 when last checked. The increase has come after the company reported better than expected quarterly earnings for the third quarter of 2021. On Thursday, AA closed the day at $48.60 after increasing 0.45% during the regular trading session.

    Record Q3 2021 financial results

    In the late hours of Thursday, AA reported its highest quarterly earnings per share and net income. The performance bettered the results for prior quarter record financial results. The continued increase in aluminium prices is perceived to be the basic reason for these staggering results. According to the details, the sales by the company during the three months, ended 30th September 2021, were $3.1 billion against $2.3 billion for the same period of 2020. The cost of goods sold during the period was $2.32 billion against $2.03 billion for the same period of 2020. The total costs and expenses for the three months were $2.61 billion against $2.34 billion for the same period of 2020. The net income for the quarter stood at $370 million against the net loss of $20 million bore by the company during the same quarter of 2020. The record earnings per share for basic and diluted shares were $1.80 and $1.76 respectively against the loss per share of $0.26 for basic and diluted shares. The company had cash and cash equivalents of $1.45 billion on 30th September. The total assets in possession of the company were $14.19 billion, while the total debt was $1.8 billion.

    AA to achieve net-zero GHG emissions

    On 4th October, AA announced its ambition to achieve net-zero greenhouse gas (GHG) emissions throughout its global operations by 2050. The endeavour aligns with the company’s priority to advance sustainability as well as complements the company’s existing targets. They include reducing GHG emissions from the aluminium smelting plants and alumina refining operations by 30% by 2050. The company intended to use its low carbon portfolio to increase the use of renewables at its operation sites. The company further aims to reduce the emission profile of its alumina refining system and its smelting portfolio.

    Future for AA?

    During the last three months, AA stock has increased more than 47%, mainly due to a strong financial performance and expansion of business in new horizons. Analysts predict that based on recent indicators, the upcoming time could provide AA stock with a monumental performance improvement.

  • Cemtrex, Inc. (CETX) Stock Tremendously Growing in Premarket, Here’s Why

    Cemtrex, Inc. (CETX) Stock Tremendously Growing in Premarket, Here’s Why

    Cemtrex, Inc. (CETX), a technology company based in the United States, has soared 18.84% in the premarket trading session. As a result, CETX stock is trading at $1.23 at the time of this writing. On Wednesday, CETX stock closed the day at $1.04 after increasing 15.29% through the mid-day session. This continual rise seems to be the result of corporate updates by the company.

    CETX reported a business operation update

    CETX provided on Monday a corporate update of its business operations as well as industrial outlook. Saagar Govil, Cemtrex CEO, said that during the second half of fiscal 2021, the continuous demand improvement resulted in the growth of the business. The company expected this improvement to pay dividends to it in near future. Cemtrex provided some innovative and exciting products during the period. The company said that it has a sanguine outlook for improvement in its business. It expected to carry the current momentum in the future. The corporate update further said that its operating brand Bravo Strong is developing its first VR game and expects the release of StarForceVR in Oculus Quest App Lab during the first quarter of the fiscal year 2022.

    Q3 2021 financial highlights

    On 16th August, CETX reported the financial results for the third quarter of the fiscal year 2021, which ended on 30th June. The company had cash and cash equivalents of $12.87 million on 30th June. The total assets in possession of the company were $58.23 million, while total liabilities were $27.48 million. The net revenue generated by the company was $10.32 million for the period against $8.44 million for the same period of 2020. The gross profit for the three months was $4.12 million against $3.27 million for the same period of 2020. The total operating expenses for the period were $6.42 million against $5.67 million for the same period of 2020. The operating loss for the three months was $2.30 million against $2.39 million for the same period of 2020. The net income for the period was $1.12 million against the net loss of $4.23 million for the same period of 2020. The net income per basic and diluted share for the period was $0.06 against the net loss of $0.38 per basic and diluted share.

    What’s could CETX face in future?

    According to statistics, CETX stock has declined by more than 25% during the last quarter. For analysts, the strong quarterly performance, as well as positive indications in the corporate update, could prove to be a catalyst for the movement of CETX stock.