STOCKS TELEGRAPH

Author: Iqra Jamal

  • Nutanix, Inc. (NTNX) Stock Surged 4.19% After-Hours, Here’s Why 

    Nutanix, Inc. (NTNX) is up 4.19% in the after-hours trading session at the price of $38.50 after the release of the fourth quarter and fiscal 2021 financial results. NTNX is a global leader in cloud software and a pioneer in hyper-converged infrastructure solutions, making clouds invisible. 

    NTNX Reported Fourth Quarter and Fiscal 2021 Financial Results 

    On 1st September 2021, NTNX reported financial results for its fourth quarter and fiscal year ended 31st July 2021. CEO of NTNX, Rajiv Ramaswami, remarked that their fourth quarter was a great end to an excellent fiscal year. They have observed consistent execution and solid progress across both financial and strategic objectives. They have entered their fiscal 2022 with good momentum and a solid growth plan. They are working on the model they laid out at Investor Day and delivering on their vision of making clouds invisible. They have achieved records across several key metrics in the fourth quarter. Their ACV billings and revenue grew 26 and 19 percent year over year, respectively. They anticipate their growing base of low-cost renewals will drive further improvements in top and bottom-line performance in fiscal 2022, he concluded.  

    Fourth Quarter Fiscal 2021 Financial Highlights 

    NTNX reported revenue of $1.39 million for the fourth quarter ended 31st July 2021. It represents a 19% year-over-year gain from $327.9 million in the fourth quarter of 2020. Operating expenses during fourth quarter of 2021 were $454.1 million. It represents an increase of 5% from $432.3 million in the same quarter ended 31st July 2020.  

    Fiscal 2021 Financial Summary 

    NTNX reported revenue of $390.7 million for the fiscal year ended 31st July 2021. It represents a 7% year-over-year gain from $1.31 billion in fiscal 2020. Operating expenses during fiscal 2021 were $1.76 billion. It represents a drop of 5% from $1.85 billion in the fiscal year ended 31st July 2020. 

    NTNX Scheduled Leading Hybrid Multi-cloud Conference 

    On 31st August 2021, NTNX announced the speakers and programming for its NEXT Digital Experience conference. The conference is scheduled virtually from 20-23rd September 2021. This event will bring together IT and cloud professionals from all around the world. They will collaborate to explore the latest trends, solutions, and best practices in hybrid multi-cloud technology. The event will feature fresh perspectives on topics that include hybrid multi-cloud, HCI and private cloud, and app modernization. NTNX will deliver insightful keynotes from experts and thought leaders. They will discuss the latest breakthroughs in data center and cloud technologies.   

  • Electro-Sensors, Inc. (ELSE) Stock Surged 0.19% After-Hours, Here’s Why 

    Electro-Sensors, Inc. (ELSE) stock is up 0.19% in the after-hours trading session at the price of $5.25 despite any recent news. 

    Second Quarter 2021 Financial Results  

    ELSE stock is a leading global provider of machine monitoring sensors and hazard monitoring systems. On 12th August 2021, ELSE published financial results for the second quarter ended on 30th June 2021. President of ELSE, David L. Klenk, remarked that they are pleased to report record revenue for the second quarter of 2021.  The Q2 results were positively affected by orders for industrial automation applications. It is an area that remains favorable to their growth strategy, he added.  

    ELSE stock reported net sales growth of 17.7% to $2,462,000 in the second quarter of 2021 from $2,092,000 in the same quarter the previous year. Net sales increased 8.7% to $4,363,000 for the first six months of 2021 from $4,015,000 for the first six months of 2020. The gross margin for the second quarter of 2021 was 55.9%, up from 52.5% in the same quarter in 2020. Earnings per share were $0.06 for the second quarter ended on 30th June 2021. Earnings per share were $0.01 for the same quarter the previous year. For the six months that ended on 30th June 2021, the net loss per share was $0.06. Net loss per share was $0.02 for the same period of 2020.   

    ELSE Stock First Quarter 2021 Financial Results 

    On 13th May 2021, ELSE stock published financial results for the first quarter ended 31st March 2021. President of ELSE, David L. Klenk, stated that COVID-19 continues to impact their business. In the first quarter, they were encouraged by international sales and gains from their HazardPRO line of wireless hazard monitoring systems. As travel restrictions were gradually beginning to lift, their ability to visit customers has improved. It led them to have closer engagements with their customers, he added.  

    Net sales for the first quarter of 2021 declined 1.1% to $1,901,000 from $1,923,000 in the same quarter the previous year. Operating expenses have been reduced, leading to a smaller net loss in the first quarter of 2021, compared to the same quarter of 2020.  ELSE stock reported a loss per share of $0.00 for the second quarter ended on 31st March 2021. Loss per share was $0.03 for the same quarter the previous year. Net loss was $2k for the three months ended 31st March 2021. Net loss of $31k reported for the same quarter of 2020. 

  • IHT Stock Surged 2.33% Currrent Market, Here’s Why

    IHT Stock Surged 2.33% Currrent Market, Here’s Why

    InnSuites Hospitality Trust (IHT) is up 2.33% in the current-market trading session at the price of $3.95 despite any recent news.

    IHT Reported 51st Consecutive Annual Dividend

    On 23rd June 2021, the Board of Trustees of InnSuites Hospitality Trust (IHT) announced a semiannual dividend of $0.01 per share. The semiannual dividend, payable on 30th July 2021 to shareholders, continued an uninterrupted 51-year annual dividend history. InnSuites Hotel operations continue to recover while UniGen continues to progress efficient and clean energy investment.

    Fiscal First Quarter Financial Results

    On 28th June 2021, IHT reported revenues of roughly $1.4 million for the 2022 fiscal first quarter ended 30th April 2021. It remained relatively flat from revenues of approximately $1.4 million for the same period of the previous year. Basic earnings per share were $0.01 for the fiscal first quarter ended 30th April 2021. Basic earnings per share were $0.04 for the same quarter prior year. This increase was attributable to the solid start of the Trust’s operations along with the reduced impact of Covid-19. These results have accelerated in the fiscal second quarter of the current year.

    IHL reported a fiscal first-quarter profit of 157,161 dollars. It indicates an increase of $500,000 from the same period of the prior year. Consolidated net income has increased more than $500,000 in fiscal first-quarter 2022 compared to fiscal first quarter 2021. It is more than $425,000 over fiscal first quarter 2020 and approximately $450,000 greater than fiscal first quarter 2019.

    CEO James Wirth commented that they continue to execute their strategic plan of selling existing hotel real estate. The sale will be at a market price significantly above their low carrying values. They are moving toward IHT’s high potential diversification investment in efficient and clean-energy power generation, he added.

    Fiscal Year 2021 Earnings Report

    On 17th May 2021, IHT reported revenues of approximately $4.203 million for the fiscal year ended 31st January 2021. Revenues of $6.568 million were reported, for the same quarter the prior year. Basic earnings per share were $0.31 for the fiscal year ended 31st January 2021. For the fiscal year ended 31st January 2020, basic earnings per share were $0.21. This decline resulted from the adverse impact of the Covid-19 virus pandemic. Fiscal 2021 fourth-quarter revenues remained approximately flat for the three months ended 31st January 2021, compared to revenues for the third quarter of the fiscal year 2021.

  • NIO Inc. (NIO) Stock Plunged 4.22% Pre-Market, Here’s Why

    NIO Inc. (NIO) Stock Plunged 4.22% Pre-Market, Here’s Why

    NIO Inc. (NIO) is down 4.22% in the pre-market trading session at the price of $37.65 after the release of August 2021 delivery updates and the third-quarter revised guidance.

    NIO Released August 2021 Delivery Updates

    NIO is a leading company in the premium smart electric vehicle market. On 1st September 2021, it announced its delivery results for August 2021. The company delivered 5,880 vehicles in August 2021. It represents a 48.3% year-over-year growth. NIO’s new order reached an all-time high in August. It was primarily due to the increasing demand, vehicle production, and manufacturing of the ES6 and EC6. However, the growth was disrupted by supply chain constraints resulted from the COVID-19 pandemic. The deliveries comprised 1,738 ES8s. The total deliveries of the ES8, ES6, and EC6 reached 131,408 vehicles by 31st August 2021.

    NIO adjusted the vehicle production and delivery report due to continued uncertainty and volatility of semiconductor supply. A revised report expects to deliver 22,500 to 23,500 vehicles in the third quarter of 2021. The previous guideline has an estimation of 23,000 to 25,000 vehicle deliveries.

    Second Quarter 2021 Financial Results

    On 11 August 2021, NIO declared its unaudited financial results for the second quarter ended on 30th June 2021. CEO of NIO, William Bin Li, remarked that they had achieved a record-high quarterly delivery of 21,896 vehicles in the second quarter of 2021. The cumulative deliveries of NIO vehicles are now 125,528 as of 31st July 2021. They have been working closely with their partners to improve the overall supply chain production capacity. They are committed to expanding their power network, increasing their service and sales coverage, and accelerating their product and technology development.

    Financial Highlights

    NIO reported total revenues of RMB8,448.0 million (US$1,308.4 million) in the second quarter of 2021. It represents an increase of 5.8% from the first quarter of 2021 and an increase of 127.2% from the second quarter of 2020. The operating loss was RMB763.3 million (US$118.2 million) in the second quarter of 2021. It represents a decrease of 34.2% from the second quarter of 2020 and an increase of 158.0% from the first quarter of 2021.

    NIO reported a net loss of RMB587.2 million (US$90.9 million) in the second quarter of 2021. It represents a drop of 50.1% from the second quarter of 2020 and a rise of 30.2% from the first quarter of 2021. Gross profit was RMB1,573.9 million (US$243.8 million) in the second quarter of 2021. An increase of 402.7% from the second quarter of 2020 and 1.2% from the first quarter of 2021. Basic and diluted net loss per share (ADS) were both RMB0.42 (US$0.07) in the second quarter of 2021. It excluded share-based compensation expenses and accretion on redeemable non-controlling interests to redemption value.

  • Pixelworks, Inc. (PXLW) Stock Surged 2.58% Pre-Market, Here’s Why

    Pixelworks, Inc. (PXLW) Stock Surged 2.58% Pre-Market, Here’s Why

    Pixelworks, Inc. (PXLW) is up 2.58% in the pre-market trading session at the price of $7.95 despite any recent news. PXLW delivers industry-leading content creation, video delivery, and display processing solutions. It has the technology that enables highly authentic viewing experiences with superior visual quality.

    High-end Flagship iQOO 8 Series with Pixelworks Technology

    PXLW, on 17th August 2021, declared that the iQOO 8 series smartphone from the iQOO brand of Vivo incorporates the Pixelworks X5 Pro visual processor. The iQOO 8 model features a flat AMOLED screen with a refresh rate of120 Hz. It has a maximum resolution of 1080 x 2376 pixels. The iQOO 8 Pro provides uniformly consistent Top Tier display performance through DisplayMate’s extensive Lab Tests and Measurements.

    PXLW Reported Second Quarter 2021 Financial Results

    On 10th August 2021, PXLW announced financial results for the second quarter ended on 30th June 2021.

    CEO of PXLW, Todd DeBonis, remarked that they had a solid and very busy second quarter. They had sequential and year-over-year basis revenue growth of over 50%. They continued to gain increased traction across an expanded number of OEMs and launched models during the first half of 2021. Their projector business profited from a substantial market recovery as well as increased demand. Consolidated gross margin also expanded significantly in the quarter to above 50%, he added.

    Financial Highlights

    PXLW reported revenue of $14.1 million for the second quarter of 2021. The total revenue was $9.3 million in the first quarter of 2021 and $9.3 million in the second quarter of 2020. The 50% sequential and year-over-year increase in Q2 revenue resulted from the strong growth and record revenue in the mobile market. It indicated a significant rebound in demand in the projector market.

    PXLW reported a GAAP net loss of $4.4 million or $0.08 per share for the second quarter of 2021. A GAAP net loss of $8.1 million or $0.16 per share was reported in the first quarter of 2021. GAAP net loss was $6.6 million or $0.17 per share in the same quarter the previous year. The gross profit margin in the second quarter of 2021 was 50.6%, compared to 40.2% in the first quarter of 2021. Gross profit was 54.6% in the second quarter of the previous year. GAAP operating expenses for the second quarter of 2021 were $11.6 million. Operating expenses were $11.6 million in the first quarter of 2021 and $11.5 million in the prior year same quarter.

  • Globalstar, Inc. (GSAT) Stock Surged 44.06% Current-Market, Here’s Why

    Globalstar, Inc. (GSAT) Stock Surged 44.06% Current-Market, Here’s Why

    Globalstar, Inc. (GSAT) is up 44.06% in the current-market trading session at the price of $2.06 despite any recent news.

    GSAT Published Second Quarter 2021 Financial Result

    On 5th August 2021, GSAT published its operating and financial results for the quarter ended 30th June 2021. Globalstar is a leading provider of customizable Satellite IoT Solutions for customers worldwide. It delivers products to oil and gas, transportation, emergency management, government, maritime, outdoor recreation, and other industries.

    CEO of GSAT, Dave Kagan, remarked that they are happy with the performance of multiple indicators during the second quarter. They have noted a significant increase in SPOT and Commercial IoT equipment sales. SPOT activations continue at record levels by LTM gross activations up 26% from the previous quarter. Meanwhile, Commercial IoT ARPU continues to rise because of higher usage and a favorable rate plan mix. They have executed their robust sales pipeline while opening up with new opportunities. It will expand their customer relationships and distribution channels, he added.

    Financial Highlights

    GSAT reported total revenue of $30.28 million for the second quarter ended 30th June 2021. Total revenue was $30.36 million for the same quarter of 2020. Total revenue for the second quarter of 2021 reduced slightly from the second quarter of 2020. Operating loss was $16.0 million for the second quarter of 2021, compared to $15.4 million for the same quarter the previous year. The rise in operating loss resulted from higher operating expenses of $0.5 million.

    GSAT reported a drop of $3.3 million in net loss from the second quarter of 2020 to the same quarter of 2021. This change was due to lower interest expense, gain on extinguishment of debt, and higher foreign currency gains. Adjusted EBITDA was $9.8 million for the second quarter of 2021, consistent with the previous year’s same quarter. A loss per share was $0.01 for the second quarter of 2021. Net loss per share was $0.01 for the same quarter the previous year.

    Partnership With FocusPoint International Inc.

    On 1st July 2021, GSAT declared a partnership with FocusPoint International Inc. It aimed to provide crisis assistance services under the Global Overwatch & Rescue™ Plan to the customers. Overwatch & Rescue is an assistance plan launched by FocusPoint International. This plan gives 24/7 multi-lingual crisis consultation, medical and dental referrals, security assistance, and much more. The customers that add the Overwatch & Rescue Plan will have access to a team of highly experienced medical, security, and crisis response specialists. Moreover, the users who choose the annual plan will get free evacuations.

  • AEHL Stock Surged 8.33% Pre-Market, Here’s Why

    AEHL Stock Surged 8.33% Pre-Market, Here’s Why

    Antelope Enterprise Holdings Limited (AEHL) is up 8.33% in the pre-market trading session at the price of $3.38 despite any recent news. AEHL is a leading company of ceramic tiles in China. These ceramic tiles are used in residential and commercial buildings to design exterior siding and interior flooring.

    AEHL Announced Pricing of Registered Direct Offering

    On 10th June 2021, AEHL published that it has entered into definitive agreements with institutional investors for a registered direct offering of securities with gross proceeds of $3,180,295. The closing of the offering took place on 14th June 2021. The agreement is subject to the satisfaction of customary closing conditions.

    As per the offering, AEHL will issue 913,875 registered common shares at a purchase price of $3.48 per share. The investor will receive unregistered warrants from the company to purchase one common share. These warrants have an exercise price of $3.42 per share. They will be exercisable on the date of issuance and will expire five years from the date of issuance.

    Announcement of Second Half and Full Year Fiscal 2020 Results

    On 28th April 2021, AEHL announced its financial results for the second half and the fiscal year ended 31st December 2020.

    Six Months Results Ended 31st December 2020

    AEHL reported revenue of RMB 143.2 million (US$ 21.1 million) for the six months ended 31st December 2020. A 4.6% drop from RMB 150.2 million (US$ 21.4 million) for the same period of 2019. The decrease in revenue was due to the 9.1% decrease in average selling price to RMB 21.8 (US$ 3.34) for the second half of 2020 from RMB 24.0 (US$ 3.41) for the same period of 2019. It was partially offset by the 4.8% increase in sales volume to 6.6 million square meters of ceramic tiles for the second half of 2020.

    AEHL reported a net loss of RMB 81.6 million (US$ 12.0 million) for the six months ended 31st December 2020. A net profit of RMB 183.7 million (US$ 26.1 million), was reported for the same period of 2019. The net loss was due to the gross loss and the bad debt expense incurred in the second half of 2020. Loss per share, basic and diluted, was RMB 24.85 (US$ 3.67) for the six months ended 31st December 2020. Profit per share of RMB 92.01 (US$ 13.08), was reported for the same period of 2019.

    Full Year 2020 Financial Results

    AEHL reported revenue of RMB 183.0 million (US$ 26.5 million) for the year ended 31st December 2020. Revenue was RMB 327.6 million (US$ 47.4 million) for the year 2019. Net loss for the year ended 31st December 2020 was RMB 193.1 million (US$ 28.0 million). A net loss of RMB 9.5 million (US$ 1.4 million), reported for the same period of 2019. Loss per share was RMB 65.67 (US$ 9.51) for the year ended 31st December 2020. The loss per share of RMB 4.68 (US$ 0.69), reported for the same period of 2019.

  • Root, Inc. (ROOT) Stock Surged 18.91% After-Hours, Here’s Why

    Root, Inc. (ROOT) Stock Surged 18.91% After-Hours, Here’s Why

    Root, Inc. (ROOT) is up 18.91% in the after-hours trading session at the price of $7.61 despite any recent news. ROOT is the parent company of Root Insurance Company. It is a technology company revolutionizing personal insurance with a pricing model based upon fairness and a modern customer experience.

    Announcement of Second Quarter 2021 Financial Results

    On 11th August 2021, ROOT published financial results for the second quarter ended 30th June 2021. ROOT reported total revenue of $158.4 million for the six months ended 30th June 2021. The total revenue was $245.5 million for the same period of 2020. For the three months ended on 30th June 2021, the total revenue was $89.8 million. Total revenue of $121.4 million reported for the three months ended on 30th June 2020. Net loss per share, basic and diluted, was $1.12 for the second quarter ended 30th June 2021. Net loss per share was $3.74 for the same quarter the previous year. For the three months that ended on 30th June 2021, the net loss per share was $0.72. Net loss per share was $1.03 for the same period of 2020.

    ROOT Partnered with Carvana to Develop First Integrated Auto Insurance Solutions

    On 11th August 2021, ROOT published an exclusive partnership with Carvana. It aimed to develop integrated auto insurance solutions for Carvana’s online car-buying platform. Carvana will invest about $126 million of primary capital in Root, subject to customary regulatory approvals.

    Alex Timm, CEO of ROOT, remarked that Carvana had revolutionized the car buying experience for consumers. This partnership will further strengthen the Carvana experience by integrating insurance alongside car purchasing and financing decisions. This integrated solution will give ROOT exclusive access to a scaled and growing channel of prospective customers at the insurance decision point of buying a car. It will enable them to deliver an immediate customer need and drive sustainable policyholder growth.

    Root, Inc. Congratulated Washington Drivers on Credit Score-Free Car Insurance

    On 24th June 2021, ROOT shared insights with 5.9 million Washington drivers after the state removed credit scores from the car insurance rating system. Root has always worked on bringing fairness to insurance. It has offered personalized rates. They are based largely on driving behavior and less on discriminatory demographic factors. The company hopes to deliver car insurance in Washington by this year.

    CEO of ROOT, Alex Timm, commented that credit-based pricing poses an unreasonable barrier to economic advancement for the millions of drivers. Washington State has brought more fairness to its roads for the benefit of drivers and insurers alike. They congratulate Washington on this major step towards equity and inspire leaders across the country to follow its example in instituting rules to protect consumers, he added.

  • Aterian, Inc. (ATER) Stock Surged 21.71% After-Hours, Here’s Why

    Aterian, Inc. (ATER) Stock Surged 21.71% After-Hours, Here’s Why

    Aterian, Inc. (ATER) is up 21.71% in the after-hours trading session at the price of $7.40 despite any recent news.

    ATER Published Second Quarter 2021 Financial Results

    On 9th August 2021, ATER declared results for the second quarter ended on 30th June 2021. ATER is a leading technology-enabled consumer products platform. It develops, acquires, and partners with best-in-class e-commerce brands. It provides proprietary software and an active supply chain to deliver top-selling consumer products.

    CEO of ATER, Yaniv Sarig, remarked that this had been a challenging quarter for e-commerce due to the global supply sought-after, inflation and an extreme shift in consumer behavior. Despite the difficult circumstances and significant growth in product variable cost, their sales grew on average 20% on a proforma basis across all fourteen brands compared to the Q2 2019. They remain confident about their best performance in class platform to execute the strategy of building the e-commerce consumer company of the future, despite the temporary global shipping crisis. They are committed to adapting their business to the current situation and emerging more resilient and better positioned to benefit from the massive long-term expected TAM of global e-commerce, he added.

    Second Quarter 2021 Financial Highlights

    ATER reported a net loss of $36.3 million. It contains $23.3 million benefits from the change in fair value of earnout liabilities, $29.8 million loss from extinguishment of debt, a $4.4 million loss from the change in fair value of warrants, and a $1.9 million charge affiliated with a derivative liability from their term loan. The net loss was $2.9 million in the same quarter the previous year. Operating expenses for the second quarter of 2021 were $28.3 million, a $29.4 million drop compared to the same quarter the prior year. Operating expenses for the second quarter of 2021 include $23.3 million of benefit from the change in fair value of the earnout liabilities.

    ATER reported net revenue of $68.2 million, a 14% gain year over year, for the second quarter of 2021. It reported net revenue of $59.8 million in the second quarter of 2020. Operating income raised to $4.5 million. It includes $23.3 million of benefit from the change in fair value of earnout liabilities. Operating loss was $1.8 million in the same quarter of 2020. The gross margin increased to 48.0% in the second quarter of 2021. The gross margin was 46.2% in the same quarter the previous year. Adjusted EBITDA declined to a loss of $3.7 million for the second quarter of 2021. It had a gain of $3.4 million in the same quarter the previous year.

  • MOGU Stock Surged 13.13% Pre-market, Here’s Why

    MOGU Stock Surged 13.13% Pre-market, Here’s Why

    MOGU Inc. (MOGU) is up 13.13% in the pre-market trading session at the price of $1.12 after the announcement of the $10 million share repurchase program and first-quarter fiscal year 2022 financial results. MOGU is the main KOL-driven online fashion and lifestyle destination in China.

    Announcement of $10 Million Share Repurchase Program

    On 27th August 2021, MOGU declared that its board of directors had approved a new share repurchase program. Under the terms, the company is authorized to repurchase up to $10 million of its shares. The program will be effective till 26th August 2022. The company anticipates funding the repurchases with its existing cash balance.

    Under the terms, MOGU’s proposed repurchases may be made on the open market at prevailing market prices, in privately negotiated transactions, in block trades, and through other legal means. It will depend on market conditions and will be according to rules and regulations. The company’s board of directors will review the share repurchase program from time to time. They have the right to authorize adjustment of its terms and size.

    MOGU Reported First Quarter Fiscal Year 2022 Financial Results

    On 27th August 2021, MOGU published its unaudited financial results for the first quarter of the fiscal year 2022, which ended 30th June 2021. MOFU reported a decrease of 30.6% to RMB92.0 million (US$14.2 million) in the total revenues. Total revenues reported during the same period of the fiscal year 2021 were MB132.5 million.

    MOGU reported an operating loss of RMB98.0 million (US$15.2 million) for the first quarter of fiscal 2022. The operating loss reported for the same quarter of the fiscal year 2021 was RMB94.9 million. Basic and diluted loss per ADS were RMB1.00 (US$0.15) and RMB1.00 (US$0.15), for the first quarter of fiscal 2022. Basic and diluted losses were RMB0.81 and RMB0.81 for the same period of the fiscal year 2021.

    CEO of MOGU, Mr. Chen Qi, remarked that they continue to make progress on the strategic transformation of Mogu’s Live Video Broadcasting business. The GMV from their Live eCommerce business continues to grow. It is rising by 14.7% YoY and accounting for 90.8% of their total GMV during the quarter. As they look forward, they will be establishing new partnerships with more suppliers that meet the needs of this new consumption trend. Meanwhile, they will focus on empowering more KOLs on their platform through their short video format, he added. By providing more fashionable and high-quality product offerings and services to their users, they will maintain a high user retention rate and ARPU. Likewise, they will further formulate and employ the service capabilities for commercial partners that they have built over the years to create a more abundant live video broadcasting eCommerce ecosystem, he concluded.