STOCKS TELEGRAPH

Author: Shimrez Hyder

  • Air Industries Group (AIRI) Stock Minorly Volatile Following Disclosure of Promising Financial Reports for Q2 2021

    Air Industries Group (AIRI) stock prices were down by 2.38% as of the market close on August 6th, 2021, bringing the price per share down to USD$1.23 at the end of the trading day. Subsequent premarket fluctuations saw the stock rise by 7.32%, bringing it up to USD$1.32.

    F-35 Aircraft LTA

    AIRI stock reported having received a follow-on Long-Term Agreement (LTA) that will see the company produce landing gear components for the F-35 Joint Strike Fighter Aircraft. The agreement with the customer is anticipated to secure purchases ranging from USD$12 million to USD$18 million over the course of a three-year period starting in 2022. The company produces a variety of landing gear components to be used in all three variants of the aircraft.

    AIRI Stock’s Thrust Struts LTA

    May 2021 had seen AIRI stock announce having received an order for Thrust Struts, which are a critical component of the Geared Turbofan Jet Engine. This development builds on a previously announced Long-Term Agreement, with the order for Thrust Struts expected to generate USD$7.4 million in revenue.

    Strong AIRI Stock Financials

    AIRI stock reported promising Q2 2021 financial reports on August 4th, 2021 for the time period ended June 30th, 2021. In relation to the USD$7.4 million order for Thrust Struts, the company reported a fully funded backlog of USD$91.5 million. Consolidated net sales were up by USD$7 million up to USD$15.5 million. This is a massive 82.4% increase from the USD$8.5 million AIRI stock reported for the prior-year quarter. Consolidated gross profits were also up, this time by a staggering 333.3% from USD$600,000 in the second quarter of 2020 to USD$2.6 million in Q2 2021.

    Additional Financials

    Operating income for the second quarter of fiscal 2021 was reported at USD$400,000. This is a USD$1.7 million improvement on the operating loss of USD$1.3 million reported in the prior-year quarter. AIRI stock reported Adjusted EBITDA in the amount of USD$1.4 million in Q2 2021, representing a USD$1.5 million increase from the EBITDA loss of USD$100,000 reported in the second quarter of fiscal 2020.

    Future Outlook for AIRI Stock

    Armed with the tenured security resulting from its Long-Term Agreements, AIRI stock is poised to capitalize on the strength of its most recently disclosed financials. The company is keen to execute its business strategy so as to continue its trajectory of success. Investors are hopeful that management will be able to maintain its financial strength over the course of the upcoming quarters, ensuring consistent increases in shareholder value.

  • AGM Group Holdings Inc. (AGMH) Stock Exhibits Minor Volatility Following Appointment of New Executives

    AGM Group Holdings Inc. (AGMH) stock prices were down by a marginal 1.52% as of the market close on August 6th, 2021, bringing the price per share down to USD$9.10 at the end of the trading day. Subsequent after-hours fluctuations saw the stock rise by 5.23%, bringing it up to USD$9.66.

    Foray into Blockchain Tech

    August 5th, 2021 saw the fintech software company announce its entry into the ASIC chip research and development field. This will, in turn, commence the manufacturing and sale of high-performance ASIC computing equipment. AGMH stock hired new executives to lead and operate the new business segment, with a focus on the institutional market.

    Appointment of Executives

    Both Mr. Li, the newly appointed Co-CEO, and Mr. Zhu, the new CSO of AGMH stock, bring an impressive track record of experience and industry resources in chip designs and blockchain applications. Having been a pioneer of the ASIC chip design space, Mr. Li has an established history in the chip production supply chain. Mr. Li designed the first-generation ASIC that could be applied to Bitcoin computing. He also successfully completed the mass production of 16nm and 10nm ASIC chips at TMSC in 2015 and Samsung in 2017.

    Strength of Leadership

    Mr. Zhu, on the other hand, has demonstrated an in-depth understanding of the application of blockchain technology. He also brings to the table an established reputation and extensive network within the industry. This is a result of his extended time having been working on high-performance computing research over the past several years.

    Expanding Scope of AGMH Stock

    The newly appointed executives are keen to facilitate the launch of AGMH stock’s high-performance ASIC and ASIC miner. The goal is to penetrate the market effectively enough to become one of its key players. The company’s proprietary ASIC miner and its parameters are forecasted to be released in the near future. In the meanwhile, the new leadership team will be working to facilitate the expansion of its product into overseas markets. The executives are targeting institutional clients and networks abroad with the aim of facilitating the provision of innovative energy optimization solutions for its clients.

    Future Outlook for AGMH Stock

    Armed with a new leadership team, AGMH stock is poised to capitalize on its recently initiated foray into the blockchain technology space. The company is keen to implement the maximally effective penetration of the burgeoning market. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Erytech Pharma SA (ERYP) Stock Skyrocket Following Granting of Fast Track Designation for Eryaspase by U.S FDA

    Erytech Pharma SA (ERYP) stock prices were up by a massive 60.15% some time after market trading commenced on July 30th, 2021, bringing the price per share up to USD$6.58 early on in the trading day.

    ERYP Stock’s Market Scope

    Asparaginase has been a core part of ERYP stock’s ALL treatment for several years but has been associated with hypersensitivity that adversely affects treatment. This hypersensitivity affects up to 30% of all patients undergoing the treatment, making it a serious problem. The discontinuation of asparaginase therapy has been linked to inferior event-free survival, emphasizing the need for other asparaginase based treatment options.

    Results of Eryaspase Trial

    December 2020 saw ERYP stock report positive results from its Phase 2 trial, designed to evaluate the safety and enzyme activity of eryaspase. The treatment targeted primarily pediatric ALL patients who developed hypersensitivity reactions to pegylated asparaginase. Results from the study were presented by the Nordic Society of Pediatric Hematology and Oncology at the 2020 American Society of Hematology annual meeting.

    Details of the Results

    The data presented showed that the combination of eryaspase and chemotherapy provided a sustained asparaginase enzyme activity level when administered every two weeks. The treatment was generally well tolerated with few hypersensitivity reactions. ERYP stock recently confirmed its plans to submit a Biologics License Application (BLA) for eryaspase in this indication. The submission is expected for the fourth quarter of 2021, contingent on the successful completion of remaining steps.

    ERYP Stock Granted Fast Track Designation

    The United States Food and Drug Administration’s Fast Track program is designed to facilitate the accelerated development and review of new drugs, either alone or in conjunction with other drugs. This leeway is granted to drugs that can be used to treat serious or life threatening conditions that have a demonstrated potential for an unmet medical need that needs to be addressed. April 2020 had seen ERYA stock’s eryaspase being granted Fast Track designation, which facilitated the development of a second-line treatment of patients that suffer from metastatic pancreatic cancer. A Phase 3 trial in the indication completed enrollment of patients in January 2021, with results expected for Q4 2021.

    Future Outlook for ERYP Stock

    Armed with the concurrent development of its promising clinical trials, ERYP is poised to allocate resources to capitalize on its Fast Track Designations. The company is keen to facilitate the pushed up expected timeline for commercialization of its products. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Upwork Inc. (UPWK) Stock Drops Significantly Following Disclosure of Q2 2021 Financial Reports

    Upwork Inc. (UPWK) stock prices were down by 12.95% some time after market trading commenced on July 30th, 2021, bringing the price per share up to USD$50.09 early on in the trading day.

    UPWK Stock’s Trajectory of Success

    The second quarter of fiscal 2021 marked UPWK stock’s fourth consecutive quarter of accelerated year-over-year increases in GSV and revenue. The company continues to facilitate the execution of their business plan as it operated at unprecedented levels. This is a result of the growing tide of businesses of all sizes around the world making increasing use of freelancers.

    Launch of Talent Scout

    Concurrently, the company launched Talent Scout over the course of the quarter. Talent Scout offers businesses involved recruiting assistance at a more reasonable price tag than the pricing of traditional staffing agencies. The launch follows the successful introduction of Project Catalog earlier in the year. UPWK stock continues to innovate, scale, and increase awareness of their online marketplace. The company has transformed from a single product company to a multi-product company in an effort to capitalize on a USD$1.3 trillion market opportunity.

    UPWK Stock’s Financial Strength

    The second quarter of fiscal 2021 saw UPWK stock report a significant 50% year-over-year increase in its GSV, which climbed to USD$875.8 million. Revenue was up a massive 42% as compared to the USD$124.2 million reported in the prior year quarter. Marketplace revenue totaled USD$114.5 million, representing a 46% year-over-year increase. Marketplace take rate suffered slightly, reported at 13.2%, down from the 13.7% reported in the second quarter of 2020.

    Additional Finances

    Gross margin reports improved since the prior year quarter, improving 2 percentage points to hit 73%. Net loss came in at USD$16.5 million, representing a net loss of USD$0.13 per basic share. This is comparable to the USD$11 million net loss reported by UPWK stock in the second quarter of 2020, representing a net loss of USD$0.09 per basic share. Non-GAAP net income was reported at USD$4.6 million, representing a non-GAAP income of USD$0.03 per diluted share. This is a significant improvement on the USD$3.0 million non-GAAP net loss reported for the prior year quarter, coming out to a non-GAAP net loss of USD$0.03

    Future Outlook for UPWK Stock

    Armed with the expansion of its catalog of offerings with the launch of Talent Scope, UPWK stock is poised to continue its trajectory of success and address any vulnerabilities. The company is keen to allocate resources towards the continued expansion and consolidation of its market footprint. Investors are hopeful that management will be able to usher in unprecedented growth over the upcoming quarters.

  • Qumu Corp. (QUMU) Stock on the Rise Following Promising Developments in Q2 2021 Financial Reports

    Qumu Corp. (QUMU) stock prices were up by 6.17% some time after market trading commenced on July 30th, 2021, bringing the price per share up to USD$2.55 early on in the trading day.

    2nd Quarter Developments

    The second quarter of fiscal 2021 saw QUMU stock launch its 360 degree video on demand for an unparalleled immersive enterprise video experience. The company introduced artificial intelligence-based translations of voice to on-screen captions for its video viewing consumer base, while also releasing integration with Socialive during the quarter. This afford video creators improved studio-quality production capabilities with the provision of a single unified interface

    QUMU Stock Revenue Reports

    QUMU stock reported revenues in the amount of USD$5.9 for the second quarter of fiscal 2021, up USD$5.8 million reported for the prior quarter. Subscription, maintenance, and support revenue for the second quarter of fiscal 2021 was up 9% to USD$5.1 million, up from the USD$4.7 million reported in the second quarter of the prior year. The difference was largely driven by a significant one-time license, as well as appliance revenues recognized from a large single customer from Q2 2020.

    Net Loss Reports

    Net loss for the second quarter of fiscal 2021 was reported at USD$4.3 million, representing a net loss of USD$0.24 per basic share and a net loss of USD$0.30 per diluted share. This is comparable to the net loss of USD$692,000 reported for the second quarter of 2020. The 2020 quarter reported a net loss of USD$0.05 per basic share and USD$0.06 per diluted share. The year-over-year difference in net loss was largely attributable to expenses associated with the execution of QUMU stock’s business strategy.

    Additional Financials

    Gross margins indicated a year-over-year improvement, up to 74% for the second quarter of 2021. This is comparable to the gross margin of 69% in the second quarter of 2020. The end of the 2021 quarter saw the company report USD$21.3 million in cash and cash equivalents, indicating a strong liquidity position. Concurrently, the company disclosed an absence of any borrowings on QUMU stock’s revolving credit facility.

    Future Outlook for QUMU

    Armed with a second 2021 quarter that was rife with expansive developments, QUMU is poised to leverage its resources to capitalize on the scope of opportunities it finds at its disposal. The company is keen to expand and consolidate its market footprint as it continues its trajectory of success. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Lexicon Pharmaceuticals Inc (LXRX) Stock on the Rise Following Promising Q2 2021 Financial Reports and Continued Enrollment in Clinical Studies

    Lexicon Pharmaceuticals Inc (LXRX) stock prices were up by 6.98% some time after market trading commenced on July 30th, 2021, bringing the price per share up to USD$3.83 early on in the trading day.

    LXRX Stock Continues Trial Enrolments

    The second quarter of fiscal 2021 saw LXRX stock report the continuation of patient enrollment in its RELIEF-DPN-1 study. The Phase 2 clinical study is designed to evaluate the company’s proprietary LX9211 for the treatment of diabetic peripheral neuropathic pain. The study is expected to enroll a total of 300 patients across roughly 40 clinical sites. Concurrent enrollment continued in the company’s RELIEF-PHN-1 study, which served to evaluate LX9211 for the treatment of post-herpetic neuralgia. The study expects to enroll roughly 74 patients across 20 clinical sites.

    Revenue Reports

    Revenues for the quarter ended June 30th, 2021 were reported by LXRX stock at USD$9.2 million, a USD$0.2 million reduction from the numbers reported in the prior-year quarter. This year-over-year decrease was largely driven by the absence of product revenues resulting from the sale of XERMELO during the third quarter of 2020. R&D expenses for the quarter were down USD$10.3 million down to USD$57.3 million from the second quarter of 2020. This difference was largely a result of external clinical development costs in regard to sotagliflozin resulting from the completion of clinical studies.

    SG&A Expenses

    SG&A costs for the quarter were down USD$7.9 million from the USD$14.1 million reported for the prior-year quarter. This year-over-year difference was largely driven by lower salaries and benefit costs as a result of a reduced LXRX stock workforce in September 2020, as well as lower marketing expenses. LXRX stock reported USD$118.5 million in cash and investment as of June 30th, 2021, as compared to USD$152.3 million as of December 31, 2020.

    Net Loss Reports

    LXRX stock reported a net loss for the second quarter of 2021 in the amount of USD$18.1 million, representing a net loss of USD$0.13 per share. This is comparable to a net loss of USD$69.1 million in the prior year quarter, representing a net loss of USD$0.65. Both fiscal quarters reported net income that included non-cash, stock-based compensation expense of USD$2.8 million in the 2021 quarter, as compared to USD$4.3 million in the 2020 quarter.

    Future Outlook for LXRX Stock

    Armed with the success of its promising financial reports for the second quarter of fiscal 2021, LXRX stock is poised to continue the success of its most recent quarter through to the end of the year. Investors are hopeful that management will execute their business strategy effectively, so as to drive increases in shareholder value.

  • Capri Holdings Ltd. (CPRI) Stock Trending Lower Despite Disclosure of Promising Q1 2022 Financial Reports

    Capri Holdings Ltd. (CPRI) stock prices stayed stable as of the market closing on July 27th, 2021, with the price per share staying at USD$55.05 at the end of the trading day. Subsequent premarket fluctuations saw the stock drop by 8.89%, bringing it down to USD$54.50.

    Q1 2022 Total Revenues

    Total revenues for the first quarter of fiscal 2022 were reported at USD$1.25 billion, a significant increase of 178% from the numbers reported for the prior-year quarter. On a constant currency basis, total revenues were up 164%.

    Gross Profit Reports

    CPRI stock reported a gross profit in the amount of USD$856 million, with a gross margin coming out to 68.3% for Q1 2022. This is comparable to the USD$302 million gross profit and 67% gross margin for the first quarter of fiscal 2021. Adjusted gross profit was USD$853 million while adjusted gross margin was USD$68.1% as compared to USD$303 million in gross profit and 67.2% gross profit in the prior-year quarter.

    CPRI Stock Operating Income and Loss

    The first quarter of fiscal 2022 saw CPRI stock report income from operations in the amount of USD$258 million, a massive increase on the loss from operations of USD$162 million in the prior-year quarter. Operating margin for the 2022 quarter came out to 20.8%, up from the operating margin of negative 32.6% in the prior-year quarter. CPRI stock reported net inventory in the amount of USD$760 million for the first quarter of fiscal 2022, a 20% reduction from numbers reported in the prior-year quarter.

    Q1 2021 Net Income Reports

    Net income for Q1 2022 came in at USD$219 million, up from the net loss of USD$180 million from the first quarter of fiscal 2021. This comes out to a net income of USD$1.41 per diluted share for the 2022 quarter, up from a net loss of USD$1.21 in the 2021 quarter. Adjusted net income was USD$221 million, representing an adjusted net income of USD$1.42 per diluted share. This is comparable to a net loss of USD$156 million in the prior-year quarter, which represented a net loss of USD$1.04 per share.

    Future Outlook for CPRI

    Armed with the massive success of its most recent financial quarter, CPRI stock is poised to continue its stellar start to the fiscal 2022 year. The company is keen to maintain this level of growth, thereby creating a snowball effect of investor confidence. Investors are confident in the management’s ability to facilitate organic growth over the long term as the global economy heads towards pre-pandemic levels.

  • Axcella Health Inc. (AXLA) Stock Continues Downward Trend Despite Promising Q2 2021 Financial Reports

    Axcella Health Inc. (AXLA) stock prices were down 0.83% as of the market closing on July 29th, 2021, bringing the price per share down to USD$3.60. subsequent premarket fluctuations saw the stock fall by 5.56%, bringing it down to USD$3.40.

    AXA1665 Clinical Trial

    The second quarter of fiscal 2021 saw AXLA stock initiate its EMMPOWER Phase 2 clinical trial, a global 24-week, randomized, double-blind, placebo-controlled trial. The study is designed to evaluate the efficacy and safety of AXA1665 in almost 150 patients. Patients enrolled reported having experienced at least one prior OHE event and have neurocognitive dysfunction at screening.

    AXA1125 Clinical Trial

    April 2021 saw the U.S Food and Drug Administration cleared AXLA stock’s Investigational New Drug application for AXA1125. Shortly after, the company initiated its EMMPACT Phase 2b clinical trial. The trial spanned 48 week in a randomized, double-blind, placebo-controlled trial, which is designed to evaluate the efficacy and safety of AXA1125. Roughly 270 patients who had biopsy-confirmed F2/F3 NASH were enrolled in the study.

    AXLA Stock’s Liquidity Position

    AXLA stock reported a solid liquidity position as of June 30th 2021, with USD$78.9 million in cash, cash equivalents, and marketable securities. This is comparable to the USD$107.3 million reported as of December 31st 2021. The company forecasts that its existing cash balance will be enough to see company operations through to the third quarter of 2022.

    Net Loss Reports

    Net loss for the quarter came in at USD$15.9 million, representing a net loss of USD$0.42 per basic and diluted share. This is comparable to the USD$13.9 million net loss reported for the prior-year quarter, representing a net loss of USD$0.48 per basic and diluted share. AXLA stock reported a net loss in the amount of USDS$31.1 million for the first half of fiscal 2021, representing a net loss of USD$0.83 per basic and diluted share. This is comparable to the USD$28.9 million net loss reported for the first six-month period of 2020, coming out to a net loss of USD$1.10 per basic and diluted share.

    Future Outlook for AXLA Stock

    Armed with successful developments of its proprietary clinical trials and the comfort of its balance sheet, AXLA stock is poised to capitalize on its momentum moving forward. The company is keen to spearhead the completion of its clinical trials and the eventual commercialization of its products. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Tempur Sealy Intl. (TPX) Stock Surges Following Stellar Second Quarter 2021 Financial Reports

    Tempur Sealy Intl. (TPX) stock prices were up by 16.36% some time after market trading commenced on July 29th, 2021, bringing the price per share up to USD$43.81 early on in the trading day.

    TPX Stock’s Net Sales Reports

    Total net sales for the second quarter of fiscal 2021 increased by 75.8% to hit nearly USD$1.17 billion, up from the USD$665.2 million reported for the prior-year quarter. On a constant currency basis, TPX Stock reported total net sales being up by 72.6%, with the North American business segment reported a 73.8% increase while the International business segment reported an increase of 64.5%.

    Gross Margin and Operating Income

    Gross margin for the quarter came out to 44.3%, up from the 40% reported in the second quarter of 2020. Adjusted gross margin was reported at 40.6% in the prior-year quarter, with the 2021 quarter not having any adjustments to gross margin. TPX stock reported operating income was up by a massive 318.2%, coming in at USD$223.3 million as compared to the USD$53.4 million reported for the prior-year quarter. Adjusted operating income was up 191.7% from the prior-year quarter, up from USD$77.9 million to USD$227.2 million.

    Net Income and Liquidity

    Net income was up an astounding 512.2%, from USD$23 million in the second quarter of 2020 up to USD$140.8 million in the second quarter of 2021. Adjusted net income was up 294.9%, up from USD$40.9 million in Q2 2020 to USD$161.5 million reported in Q2 2021. Net cash generated by TPX stock’s operating activities were up to a record-breaking USD$226.7 million, up from the USD$155.4 million in the second quarter of 2020.

    Q2 2021 EBITDA and EPS

    EBITDA for the second quarter of fiscal 2021 was up 212.3% from the USD$85.2 million in the second quarter of fiscal 2020, with the 2021 quarter reporting USD$266.1 million. Adjusted EBITDA per credit facility was up 146.6%, up to USD$270.3 million as compared to the USD$109.6 million reported for the second quarter of 2020 by TPX stock. Earnings per share were up 527.3%, up to USD$0.69 from the USD$0.11 reported in Q2 2020.

    Future Outlook for TPX Stock

    Armed with the massive success of its stellar financial reports for the second quarter of 2021, TPX stock is poised to continue its trajectory of success into the upcoming quarters and beyond. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Golden Star Resources Ltd. (GSS) Stock Surges Following Announcement of Stellar Q2 2021 Financial Report and Developments

    Golden Star Resources Ltd. (GSS) stock prices skyrocketed by 29.52% some time after market trading commenced on July 29th, 2021, bringing the price per share up to USD$2.72 early on in the trading day.

    Wassa Production Improvements

    The second quarter of fiscal 2021 production came out to a total of 37.9 thousand ounces from Wassa, coming out to an all-in sustaining cost of USD$1182 per ounce. The first half of the fiscal year produced a total of 78 thousand ounces at an all-in sustaining cost of USD$1140 per ounce. Full-year 2021 production guidance anticipates volumes in the range of 145 to 155 thousand ounces.

    GSS Stock’s Continued Growth

    The Wassa underground grade averaged 3.1 grams per ton over the course of the quarter, which is in line with the reserve grade. This also represents a 4% increase from the average reported for the first quarter of 2021.Q2 2021 saw the continued investment by GSS stock in infill drilling and development at the Wassa facility, setting the stage for the company’s planned future production expansion.

    Continued Trajectory of Success

    Capital expenditure for the second quarter of 2021 came in at USD$12 million. The quarter also reported the continuation of paste fill test work, with the positive results providing the basis for a second test stope that is current in progress. Should it be successful, this will lead to the restart of the planned filling schedule in the fourth quarter of 2021.

    Solid Liquidity Position

    GSS stock reported cash reserves having increased by USD$6.6 million in the second quarter, with the company reporting USD$72.7 million as of June 30th, 2021. Net debt was reduced to USD$31 million over the course of the quarter. The senior secured credit facility with Macquarie Bank Ltd. was restructures and upsized. Since, it has a three-year term and facilitates the provision of a USD$90 million revolving credit facility, with USD$30 million of undrawn liquidity. The amortization profile was also restructured, resulting in the release of USD$30 million of liquidity in 2021 and 2022.

    Future Outlook for GSS Stock

    Armed with its expanded liquidity position and the success of its Q2 2021 financial reports, GSS stock is poised to capitalize on opportunities to continue expanding the scope of its business. The company is keen to extend its market reach, with investors hoping it will result in significant and sustained increases in shareholder value.