STOCKS TELEGRAPH

Author: Shimrez Hyder

  • Minim Inc. (MINM) Stock Plummets Following Pricing of its USD$25 Million Underwritten Public Offering

    Minim Inc. (MINM) stock prices were down 15.90% some time after market trading commenced on July 29th, 2021, bringing the price per share up to USD$2.38 early on in the trading day.

    Pricing of Public Offering

    July 29th 2021 saw the company announce the pricing of its underwritten public offering, wherein MINM stock will offer 10 million shares of its common stock. The public offering price has been set at USD$2.50 per share, with aggregate gross proceeds in the amount of USD$22.7 million expected to be generated before the deduction of expenses related to the offering.

    Additional Offering Details

    The offering comes equipped with a 30-day option for underwriters to purchase up to an additional 1.5 million common shares at the public offering price. The closure of the offering is expected for August 2nd, 2021. Capital generated from the offering is planned to be allocated towards general corporate and working capital purposes, including, but not limited to, inventory optimization, development and marketing of new product offerings, and the company’s expansion into overseas markets.

    MINM Stock’s Financial Growth

    The second quarter of fiscal 2021 reported MINM stock having accelerated consolidated revenue growth rate of almost 43%, as compared to numbers reported for the prior-year quarter. The quarter also saw consolidated revenue in the amount of USD$14.75 million, up from the USD$10.3 million reported for the second quarter of 2020. Gross margins also continued to improve, with Q2 2021 having achieved a gross margin of 30%, up more than 900 basis points from the gross margin reported for the prior-year quarter.

    MINM Stock Consolidating Market Presence

    The company’s Motorola MG8702 product was the category leader during Amazon Prime Day in terms of units sold for DOCSIS 3.1 gateways. The high-speed modem comes equipped with a powerful AC3200 router and a bundled mobile app facilitate the provision of an all-in-one package for consumers’ homes. Furthermore, MINM stock reported strong sales for the Motorola MH7020 expandable AC2200 Mesh System in retail. Strong sales of the software-driven, higher ASP products drove a 300% increase in deferred revenue from software subscriptions, as compared to the prior quarter.

    Future Outlook for MINM Stock

    Armed with a strengthened balance sheet as a result of its public offering, as well as the success of its second-quarter financial reports for 2021, MINM stock is poised to leverage its additional capital to continue its trajectory of growth. Investors are hopeful that management will be able to spearhead the effective proliferation of its product portfolio across global markets.

  • Aqua Metals, Inc. (AQMS) Stock on the Rise Following Announcement of Partnership with ACME Metal Enterprise

    Aqua Metals, Inc. (AQMS) stock prices were up 4.13% shortly after market trading commenced on July 29th, 2021, bringing the price per share up to USD$2.40 early on in the trading day.

    Partnership with ACME Stock

    July 29th 2021 saw AQMS stock announce the signing of a definitive agreement with ACME Metal Enterprise which would see the deployment and licensing of AquaRefining equipment at its Taiwan facility. Both companies signed a Letter of Intent on July 1st 2021, with the provision of 60 days to reach a definitive agreement. Despite this, the companies signed the contract in less than a month.

    Details of the Collaboration

    The agreement also serves to define a phased deployment of AquaRefining technology, as well as provisions for ACME to work with AQMS and one or more large battery manufacturers. The partnerships will see the collaborative partners working to develop a second methodology to produce oxide directly from AquaRefined material. This will enable the significant improvement of economic costs, safety, environmental impact while streamlining the link between battery recycling and new battery manufacturing.

    Scope of AQMS Stock’s Partnership

    ACME is currently known for refining lead bullion into lead alloys for sale to global battery manufacturers. These relationships will allow the company to make use of AquaRefining as the only proven environmentally-friendly method for the recycling of lead in the largest and fastest-growing lead recycling market in the world. AQMS stock plans to commence shipping Aqualyzers, while supporting equipment to its partner company over the course of the upcoming quarter for the first phase of its deployment. The deployment is anticipated to commence operation by the fourth quarter of 2021.

    Expanding Market Footprint

    The Aqualyzers will facilitate ACME’s production of ultrapure lead metal in Taiwan with significantly improved emissions and worker safety. The partnership includes the joint development of a process for converting the ultra-high purity AquaRefined briquettes into lead oxide with the use of a ball mill that ACME will have the rights to. AQMS stock announce in January 2021 that it had developed a process for converting briquettes into lead oxide through the Barton pot method (melting).

    Future Outlook for AQMS Stock

    Armed with the expansive scope afforded to it by its most recent partnership agreement, AQMS stock is poised to capitalize on the opportunities it finds at its disposal. The company is keen to expand and consolidate its collective market footprint, with investors hoping this will result in significant and sustained increases in shareholder value.

  • Palisade Bio, Inc. (PALI) Stock Trending Lower Despite Announcement of Positive Topline Data from LB1148 Clinical Trial

    Palisade Bio, Inc. (PALI) stock prices were down 3.4483% shortly after market trading commenced on July 29th, 2021, bringing the price per share down to USD$3.36 early on in the trading day.

    Phase 2 LB1148 Trial

    July 29th, 2021 saw the company announce the positive topline data from its Phase 2 clinical trial of LB1148. The treatment had a statistically significant effect in facilitating the acceleration of the restoration of bowel function in patients undergoing elective bowel resection surgery. The results indicate a strong efficacy profile in the acceleration of the time to recover bowel function. The treatment’s safety and tolerability profiles were also found to be favorable.

    About LB1148

    LB1148 is expected to simplify a patient’s surgery process, facilitating a faster recovery while potentially reducing costs to the healthcare system. The treatment has also been shown to statistically significantly accelerate the return of bowel function in a Phase 2 study for cardiovascular surgery, as well as a Phase 2 study for GI surgery. These data are the basis for the foundation of PALI stock proceeding to pivotal studies for these indications.

    Scope of PALI Stock’s Treatment

    The positive topline data brings PALI stock another step closer to commencing the launch of the first protease inhibitor indicated to accelerate the return of GI function. The typical delay of the return of bowel function affects millions of patients across the globe annually. Despite this, the treatment prospects for this global population has been relatively unchanged for decades. The treatment is forecasted to revolutionize the healthcare landscape for patients undergoing major surgery.

    About the Clinical Trial

    The Phase 2, multicenter, randomized, double-blind, parallel, placebo-controlled clinical trial was concluded as a critical part of a co-development agreement between PALI stock and Newsoara. The study included a total of 120 patients undergoing elective bowel resection surgery, covering both laparotomy and laparoscopic surgical approaches. Furthermore, the study also included patients undergoing either anastomosis or stoma creation. The primary endpoint of the study was the recovery of bowel function, which is measured as the time from the end of surgery to oral food tolerance and passage of stool.

    Future Outlook for PALI Stock

    Armed with the success of its positive topline data from its clinical study of LB1148, PALI stock is poised to capitalize on the range of opportunities afforded to it as a result. The company is keen to spearhead the continued development and eventual commercialization of its flagship treatment. 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.

  • Nokia Corp. (NOK) Stock on the Rise Following Success of its Promising Financial Reports Q2 2021

    Nokia Corp. (NOK) stock prices were up 1.04% as of the market close on July 28th, 2021, bringing the price per share up to USD$5.81 at the end of the trading day. Subsequent premarket fluctuations saw the stock drop by 7.75%, bringing it down to USD$6.26.

    Continued Financial Growth

    NOK stock reported the continuation of its top-line strength through the second quarter of fiscal 2021. Constant currency net sales were up 9% as compared to the numbers reported for the prior-year quarter. This increase was largely driven by growth across all of the company’s business groups, with the Network Infrastructure showing particularly exceptional growth. Reported net sales for the second quarter of fiscal 2021 were up by 4%.

    NOK Stock Ahead of its Competition

    The company has continued to allocate resources towards its long-term three phased strategy, making significant advancements. Mobile Networks saw the consolidation of its market competitiveness with a major product launch, which includes some features that set NOK stock apart from its competitors. Network Infrastructure continued to gain share over the course of the first half of fiscal 2021. The company’s new operating model paves the way for transparent accountability and fiscal discipline throughout the business structure.

    Scope of NOK Stock’s Growth

    Comparable gross margins came in at 42.3% in the second quarter of fiscal 2021, indicative of substantial and widespread improvements throughout the business. Mobile Networks were particularly lucrative, having benefitted from a one-time software deal, as well as the rapid growth of the scope of 5G connectivity. Accordingly, a comparable operating margin was reported at 12.8% in the second quarter of fiscal 2021.

    Earnings per Share Reports

    NOK Stock reported earnings per share in the second quarter of 2021 amounting to USD$0.11, with diluted earnings per share coming out to USD$0.071. The company reported generating positive free cash flow for the fifth consecutive quarter, with its liquidity position remaining strong at USD$4.39 billion in net cash. The strong performance shown by the company in the first half of 2021 were indicated by the 9% constant currency sales growth, as well as a comparable operating margin of 11.9%. This resulted in the company bumping up its fiscal outlook for the full year.

    Future Outlook for NOK

    Armed with the continued strength of its financial reports for the second quarter of fiscal 2021, NOK stock is poised to capitalize on the opportunities it finds at its disposal. The company is keen to keep its momentum going as it consolidates its market footprint, with shareholder looking forward to significant and sustained increases in shareholder value.

  • iRobot Corp. (IRBT) Stock Trending Lower Despite Promising Fiscal Q2 2021 Financial Reports

    iRobot Corp. (IRBT) stock prices were down 0.59% as of the market closing on July 28th, 2021, bringing the price per share down to USD$88.83 at the end of the trading day. Subsequent premarket fluctuations saw the stock drop by 8.25%, bringing it down to USD$7.33.

    Revenue Reports

    The second quarter of fiscal 2021 saw IRBT stock report revenues in the amount of USD$365.6 million, up 31% from the USD$279.9 million reported for the prior-year quarter. This year-over-year increase was largely driven by healthy demand from retailers in North America, as well as from the company’s retail and distribution partners in EMEA. Revenue for the first half of 2021 was reported at USD$668.9 million, up from the USD$472.4 million reported in the same time period of the prior year.

    IRBT Stock’s Liquidity Position

    IRBT stock reported cash, cash equivalents, and short-term investments in the amount of USD$415.8 million as of July 3rd, 2021. This is compared to the USD$500.8 million reported as of April 3rd, 2021, and USD$483.7 million reported at the end of 2020. With the company having absolved itself of all of its debt, it also gained access to an unsecured revolving line of credit in the amount of USD$150 million, with an additional USD$75 million accordion feature.

    Quarterly Developments

    The second quarter of 2021 saw the company repurchased 446,954 shares of its common stock. The transaction totaled roughly USD$50 million, with an average share purchase price of USD$111.85. IRBT stock reported having appointed Faris Habbaba as EVP and Chief Research and Development Officer. The company’s proprietary Roomba was a featured product on Amazon’s Prime Day event for the 7th consecutive year, with the product being cited as a top-seller by Amazon.

    Accelerated Share Repurchase Agreement

    IRBT stock recently announced its intention to enter into an accelerated share repurchase agreement, which would see the company repurchase USD$100 million of its common stock. The accelerated share repurchase program is forecasted to be executed in August of 2021. The company plans to fund the repurchase program by leveraging its current solid liquidity position, with a Current Report on Form 8-K expected to be filed when the ASR is formally executed.

    Future Outlook for IRBT

    Armed with the success of its financial reports for the quarter, as well as the traction its strategic developments are gaining, IRBT stock is poised to capitalize on the opportunities ahead of it. The company is keen to extend the success of its recent quarters into the upcoming return of the economy to pre-pandemic levels.

  • JAKKS Pacific, Inc. (JAKK) Stock Undergoes Minor Volatility Following Disclosure of Q2 2021 Financial Reports

    JAKKS Pacific, Inc. (JAKK) stock prices were up 6.55% as of the market closing on July 28th, 2021, bringing the price per share up to USD$13.66 at the end of the trading day. Subsequent after-hours trading saw the stock drop by 5.93%, bringing it down to USD$12.85.

    Net Sales Improvements

    JAKK stock reported USD$112.4 million in net sales for the second quarter of fiscal 2021, representing a 43% increase over the prior year quarter, which reported USD$78.8 million. Toys/Consumer Products segment sales increased 45% globally, with sales of Disguise costumes reporting a 37% year-over-year increase. Toys/Consumer Products sales reported a year-to-date increase of 36% as compared to the 2020 period and 28% higher than numbers reported for the 2019 period. Costumes segment sales were up 31% in the year-to-date period, as compared to the 2020 period. The more robust entertainment slate was up 13% from the 2019 period.

    JAKK Stock’s Liquidity Position

    The end of the second quarter of fiscal 2021, ended June 30th, 2021, saw JAKK stock report USD$38.3 million in cash and cash equivalents, inclusive of restrictive cash. The company reported a liquidity position of USD$52.7 million as of June 30th 2020, whereas December 31st, 2020 saw the company report USD$92.7 million in restricted and unrestricted cash and cash equivalents.

    Refinancing of Debt

    The second quarter of 2021 saw JAKK stock refinance long-term debt into a new term loan. With the debt having previously been due in 2023, the refinanced loan will mature in 2027. The company effectively leveraged its solid liquidity position to lower its level of long-term debt. The transaction also saw the interest rate decrease from 10.5% to 7.5%.

    Unsecured Senior Convertible Notes

    Having paid off its previous term loan, JAKK stock managed to facilitate the accelerated maturity of its unsecured senior convertible notes. These unsecured senior convertible notes are now expected to mature in September of 2021. July 27th 2021 saw the company report USD$2.9 million in notes remaining, with the balance having been converted into shares of the company’s common stock. As of the same date, JAKK reported having a total of 9.4 million shares of common stock outstanding.

    Future Outlook for JAKK Stock

    Armed with the success of its financial reports and a steady trajectory of recent growth, JAKK stock is poised to capitalize on continuing its long-term success. The company is keen to maintain its momentum through the next several years. 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.

  • LakeLand Financial Corp. (LKFN) Stock on the Rise Following Promising Q2 2021 Financial Reports and Quarterly Developments

    LakeLand Financial Corp. (LKFN) stock prices were up 9.49% some time after the market opened on July 28th, 2021, bringing the price per share up to USD$64.95 early on in the trading day.

    LKFN Stock Approves Cash Dividend

    July 13th, 2021 saw LKFN stock’s board of directors approve a cash dividend for the second quarter of 2021. The dividend has been set at USD$0.34 per share and is payable on August 5th, 2021 to shareholders of record as of July 25th, 2021. The second-quarter dividend is the same as the dividend paid out for the first quarter of 2021, reflecting a 13% increase from the dividend rate from the prior year’s quarter.

    Share Repurchasing Program

    LKFN stock’s board of directors also approved the reauthorization and extension of a share repurchase program on April 13th, 2021, with the program scheduled to run through to April 30th, 2023. As per the program, LKFN has been authorized to repurchase from time to time, as the company sees fit, shares of its common stock. The aggregate purchase price set by the share repurchasing program is a maximum of USD$30 million. 2021 did not see the repurchasing of any shares, while the first quarter of 2020 saw 289,101 shares being repurchased at an average price per share of USD$34.66.

    LKFN’s Allocation of Resources

    LKFN stock has deployed USD$600 million since late 2020 in excess liquidity to the company’s investment securities portfolio. This move was a response to the increase in deposit balances that started in 2020 and has carried over to 2021. The unprecedented solid liquidity position has afforded the company unique challenges, resulting in the allocation of the excess liquidity to the investment portfolio without any significant impact to LKFN’s asset sensitive balance sheet

    Commercial Line Utilization

    The company’s commercial line utilization was up from 39% in March 2021 to 41% in July 2021. Despite the improvement, this is still considerably lower than over the past several years. Over the course of the past 8 years, LKFN stock has averaged a commercial line utilization of 49%.

    Future Outlook for LKFN Stock

    Armed with solid financials for the second quarter of 2021, LKFN is keen to facilitate continued developments that will instill shareholder confidence. The company is keen to spearhead its fiscal performance as the global economy slowly returns to pre-pandemic levels. Investors are hopeful that management will be able to usher in further growth over the long term.

  • Tilray Inc. (TLRY) Stock Surges Following Announcement of Promising Financial Reports for Fiscal Q4 2021

    Tilray Inc. (TLRY) stock prices were up 22.47% as of the market opening on July 28th, 2021, bringing the price per share up to USD$15.69 early on in the trading day.

    Net Revenue Breakdown

    Net revenue for the fourth quarter of fiscal 2021 was reported at USD$142.2 million, up 25% from the USD$113.5 million reported for the prior year quarter. The increase was largely driven by a 36% increase in net cannabis revenue, which was reported at USD$53.7 million. This included a four wee contribution from legacy-Tilray, a 10% decline in distribution revenue, and a net beverage alcohol revenue of USD$15.9 million as a result of TLRY stock’s acquisition of SweetWater on November 25th 2020. Also contributing to the year-over-year increase was wellness revenue in the amount of USD$5.8 million from Manitoba Harvest.

    Income and Adjusted EBITDA

    Net income for the 2021 quarter came in at USD$33.6 million, a massive improvement from the net loss of USD$84.3 million reported in the prior year quarter. Adjusted EBITDA was up to USD$12.3 million during the fourth quarter of 2021, representing a massive 285% increase from the USD$3.2 million reported in the prior-year quarter. This marks the ninth consecutive quarter of positive Adjusted EBITDA.

    TLRY Stock’s Gross Profits

    Gross Profits were down to USD$22.5 million for the quarter, a 19% decrease from the USD$27.8 million reported in the prior-year quarter. Gross profits for the quarter included a one-time inventory valuation adjustment of USD$19.9 million, derived from excess inventory quantities as of the business combination with Aphria. Adjusted gross profit was reported at USD$42.4 million, a 53% increase from the USD$27.8 million reported for Q4 2020.

    Ongoing Cost Synergies

    TLRY stock anticipates facilitating significant cost synergies amounting to a total of USD$80 million within eighteen months of closing its business combination with Aphria Tilray. These cost synergies are forecasted to be focused in the key areas of cultivation and production, cannabis and product purchasing, sales, and marketing, as well as corporate expenses. So far, the company has achieved USD$35 million in synergies.

    Future Outlook for TLRY

    Armed with the success of its most recent financial reports for the last quarter of fiscal 2021, TLRY is poised to continue its trajectory of success into the new year. Current and potential investors are hopeful that management will be able to leverage the resources at its disposal to facilitate significant and sustained increases in shareholder value.

  • Grove Inc. (GRVI) Stock Surges Following Announcement of Successful Fiscal 2021 Financial Reports

    Grove Inc. (GRVI) stock prices were up 35.54% as of the market opening on July 28th 2021, bringing the price per share up to USD$6.30 early on in the trading day.

    Revenue and Net Income Reports

    July 28th 2021 saw GRVI stock, the Nevada based company that is revolutionizing the hemp industry, report preliminary and unaudited financial results for the fourth quarter of fiscal 2021, ended June 30th 2021. The company reported revenues ranging from USD$10.1 million to USD$10.4 million, representing a massive 300% increases over the numbers reported for the prior year quarter. Net income is expected to range from USD$1.5 million to USD$2 million, up from a net loss of more than USD$700,000 in the fourth quarter of fiscal 2020.

    2021 Full Year Report

    GRVI stock reported expecting full year revenues for the full fiscal year in the amount of USD$23.6 million to USD$23.9 million, a substantial 200% increase over the USD$7.4 million reported for the fiscal year 2020. Net income for the 2021 year is expected to range from USD$2 million to USD$2.5 million, up from a considerable net loss of USD$5 million for the fiscal year 2020. Full financial results for the fiscal year 2021 are expected around September 15th 2021.

    GRVI Stock Exceeding Expectations

    The company is pleased to announce having exceeded all of its internal projections for growth and profitability over the course of 2021 so far. Driven by a combination of a stellar workforce and an effectively executed business strategy, the company continued to expand the scope of its growth while sustaining profitability.

    GRVI Stock Planning to Reinvest

    The company is keen to enter the fiscal year 2022 riding the momentum generated over the fiscal year 2021. The current years financial success afford the company flexibility in investing to further consolidate and enhance internal growth. A solid balance sheet and continued positive cash flow from operations will see the company invest heavily in facilitating the growth of GRVI stock’s Products and Manufacturing. Investments are also expected to be made in an Extraction and Lab Facility to pioneer the R&D in the Hemp and Wellness industries.

    Future Outlook for GRVI

    Armed with the immense success of its preliminary and unaudited financial reports for the fiscal year 2021, GRVI stock is poised to capitalize on its momentum. The company is keen to continue its trajectory of success into the new fiscal year, hoping to drive additional growth. Investors are hopeful that management will continue to execute its strategy so as to usher in further gains in shareholder value.

  • PolarityTE Inc. (PTE) Stock on the Rise Following Announcement of Positive Topline Data from SkinTE Clinical Trial

    PolarityTE Inc. (PTE) stock prices were up 4.84% as of the market opening on July 28th, 2021, bringing the price per share up to USD$0.85 early on in the trading day.

    SkinTE Clinical Trial

    July 28th, 2021 saw the company announce the final data from its multi-center, randomized, and controlled trial, designed to evaluate the treatment of Diabetic Foot Ulcers. PTE stock’s proprietary investigational product SkinTE, in combination with standard of care, was evaluated against just standard of care alone.

    PTE Stock’s Trial’s Success

    PTE stock reported having successfully met the primary endpoint of the trial of wound closure by the twelfth week of treatment. The secondary endpoint of Percent Area Reduction (PAR) was also met, having been assesses for every even-numbered week from the fourth to the twelfth. The trial had a total enrolment of 100 participants that were split into two equal groups, with one received SOC plus SkinTE, whereas the other cohort received only SOC. The trial was conducted and evaluated across 13 different sites.

    Trial Results

    35 out of the 50 patients, representing 70% of the cohort, who received SkinTE in conjunction with SOC exhibited wound closure at 12 weeks. This is comparable to the 17 patients out of 50, representing 34%, exhibiting wound closure by week 12 with SOC only. 45 out of the 50 patients who received the SkinTE plus SOC treatment received a single application of SkinTE. Treatment with SkinTE in tandem with SOC resulted in an increase in the odds of would closure by a massive 5.37 times versus SOC alone.

    Adverse Event Reports

    The trial reported 148 Adverse events that were attributable to 49 subjects. The SkinTE plus SOC treatment cohort reported 66 AEs among 21 subjects while the SOC treatment group reported 82 Adverse Events, attributable to 28 subjects. Of this total, 26 incidents were Serious Adverse Events, with 12 occurring in the SkinTE plus standard of care across 7 subjects. 14 Serious Adverse Events were reported for the standard of care cohort, allocated across a total of 9 subjects.

    Future Outlook for PTE Stock

    Armed with the resounding success of the results of its SkinTE clinical trial, PTE Stock is poised to capitalize on the opportunities for the proliferation of the treatment. The company is keen to allocate resources towards consolidating and expanding its market footprint. Current and potential investors are hopeful that management will be able to leverage the resources at its disposal to facilitate significant and sustained increases in shareholder value.