STOCKS TELEGRAPH

Author: Shimrez Hyder

  • Akoustis Technologies Inc. (AKTS) Stock Dips Following Disclosure of Financial Reports for Q2 2021

    Akoustis Technologies Inc. (AKTS) Stock Dips Following Disclosure of Financial Reports for Q2 2021

    Akoustis Technologies Inc. (AKTS) stock prices dipped by 11.11% some time after market trading commenced on August 30th, 2021. This brought the price per share down to USD$8.88 early on in the trading day.

    Promising Financial Reports

    August 30th, 2021 saw the integrated device manufacturer of patented bulk acoustic wave high-band RF filters for mobile and other wireless applications release financial reports for Q2 2021. Revenues for the fourth quarter of the fiscal year 2021 were reported at USD$6.6 million, representing a 270% year-over-year increase. This is despite continuing headwinds stemming from a combination of the Coronavirus and semiconductor supply chain challenges. AKTS stock reported a solid liquidity position as of June 30th, 2021, with USD$88.3 million in cash.

    AKTS Stock Ramps Up Production

    The fourth quarter of fiscal 2021 saw the delivery of record numbers of XBAW filter shipments. The company’s existing design win pipeline also serves to support a return to double-digit sequential revenue growth in the December quarter. This will result from the ramping up of the volume of XBAW RF filter solutions to multiple customers across the WiFi 6, WiFi 6E, 5G network infrastructure, and defense markets.

    AKTS Stock’s 5G Technology

    AKTS stock reported the continuation of strong demand and a growing sales to funnel for their proprietary WiFi 6E, 5G mobile, and CBRS XBAW filters. The company’s continued efforts in 5G mobile have been met with the recently announced foundry agreement. This saw AKTS ship early 5G mobile filter prototypes to their tier-1 mobile customer, with the company on track to deliver two fully qualified filters next calendar year.

    Cutting-edge Communications Solutions

    The company is actively facilitating the delivery of volume production of its WiFi 6 tandem filter solutions, shipping multiple 5G small cell XBAW filter solutions. The company is also allocating resources towards delivering initial designs of its new 5G mobile filter solutions to multiple customers. AKTS stock is now entering the market on the basis of its new WiFi 6E coexistence XBAW filter solutions. the company expects to increase the annual production capacity at its New York fab up to roughly 500 million filters annually by the end of calendar 2021.

    Future Outlook for AKTS Stock

    The company reported a promising quarter, consolidated by the strength of its financial reports for the last quarter of fiscal 2021. AKTS stock is poised to capitalize on the opportunities presented to it in order for it to recover from recent volatility in stock price. Investors are hopeful that management will be able to usher in consistent organic growth over the long term.

  • DSP Group Inc. (DSPG) Stock Surged Following News of Acquisition by Synaptics

    DSP Group Inc. (DSPG) Stock Surged Following News of Acquisition by Synaptics

    DSP Group Inc. (DSPG) stock prices surged by 17.50% some time after market trading commenced on August 30th, 2021. This brought the price per share up to USD$21.50 early on in the trading day.

    DSPG Stock Acquired by Synaptics

    August 30th, 2021 saw DSPG stock announce the signing of a definitive agreement with Synaptics Inc. The agreement was unanimously approved by the boards of directors of both companies. As per the agreement, Synaptics will acquire DSP Group, a leading global provider of voice and wireless chipset solutions for converged communications. The transactions will be conducted entirely in cash and will be valued at USD$22.00 per share. The acquisition is expected to result in the generation of annual run-rate synergies of USD$30 million, which the combined entity will realize within 12 months of closing.

    Transaction Details

    This sum is immediately accretive to Synaptics’ non-GAAP earnings. The funding of the transaction is expected to be comprised of a combination of cash on hand and a fully committed, incremental debt financing arrangement. This arrangement has a projected closing date for the end of the calendar year 2021, pending DSPG stocks’ shareholder’s approval and customary closing conditions.

    About DSPG Stock

    DSPG stock has leadership positions across a myriad of markets in the Internet of Audio Things (IoAT). The company also boasts significant growth opportunities in low power SmartVoice, unified communications & collaboration, and wireless IoT devices. A majority of the solutions offered are relevant to the existing consumer base of the partnering company, facilitating the strategy of cross-selling portfolio devices.

    Scope of Collaboration

    Synaptics recently announced its Low Power Edge AI initiative. This initiative results in a significant long-term opportunity with ABI research, with forecasts of 2.5 billion TinyML units being sold by 2030. The addition of DSPG stock’s best-in-class SmartVoice products to Synaptics’ Katana smart vision platform will create a more complete portfolio. This will result in the serving of existing customer needs as well as the addressing of the significant future market. Furthermore, the collaboration further consolidates Synaptics’ industry leading wireless connectivity portfolio with the addition of DECT ULE.

    Future Outlook for DSPG Stock

    The company reported a promising quarter, consolidated by its definitive agreement to merge with Synaptics. DSPG stock is poised to capitalize on the expanded scope of opportunities ahead of it as it leverages the additional resources at its disposal. Investors are hopeful for significant and sustained increases in shareholder value over the long term.

  • Vascular Biogenics Ltd. (VBLT) Stock Exhibits Minor Volatility Following Resuming of Patient Enrollment in OVAL Trial

    Vascular Biogenics Ltd. (VBLT) Stock Exhibits Minor Volatility Following Resuming of Patient Enrollment in OVAL Trial

    Vascular Biogenics Ltd. (VBLT) stock prices were down by 1.44% shortly after market trading commenced on August 30th, 2021. This brought the price per share down to USD$2.06 early on in the trading day.

    VBLT Stock Resumes Patient Enrollment

    August 30th, 2021 saw VBLT announce the resumption of enrollment of new patients in VB-111 studies in the United States. This development comes immediately with the following authorization from the U.S Food and Drug Administration (FDA) Chemistry, Manufacturing, and Controls (CMC) Group. The FDA authorization will allow for the use of new batches of VB-111 produced in VBL’s commercial-scale GMP Modiin facility in clinical studies in the United States.

    OVAL Trial Resumes in the U.S

    VBLT stock was notified by the FDA that clinical use for new VB-111 batches in the United States was pending as of June 2021. The technical review would be conducted by the CMC group and would be focused on the comparability of VB-111 manufacturing between difference source sites. The company prepared and, in early August of 2021, submitted the request data and documentation to the FDA. Patient enrollment in the OVAL trial in the United States has been continued on the basis of the company having sufficient FDA-cleared batches.

    About the OVAL Trial

    The OVAL trial serves to evaluate VB-111 in ovarian cancer. It expects to enroll a total of nearly 400 patients around the world, with 80% of patients having already been recruited. The trial has two primary endpoints, the first of which is progression-free survival (PFS). The study will also be evaluating overall survival (OS) as a primary endpoint.

    VBLT Stocks’ Primary Endpoints

    The successful meeting of either primary endpoint could serve as the potential basis for a biologics license application (BLA). The meeting of the PFS endpoint has an expected readout by the second half of fiscal 2022. Should things go according to plan, meeting the PFS endpoint could accelerate BLA submissions by almost a full year. This is contingent on discussions with the FDA. Original projections based on the readout of the OS primary endpoint remain anticipated for fiscal 2023.

    Future Outlook for VBLT Stock

    The company reported a promising quarter, consolidated by the resuming of patient enrollment in the company’s OVAL trial. VBLT stock is poised to capitalize on the opportunities afforded to it within the United States marketspace. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal. This is hoped to facilitate organic growth over the long term.

  • Phunware Inc. (PHUN) Stock Undergoes Minor Volatility Following Launch of PhunCoin

    Phunware Inc. (PHUN) Stock Undergoes Minor Volatility Following Launch of PhunCoin

    Phunware Inc. (PHUN) stock prices declined 0.47% to $1.04 in the current market trading today.

    PHUN Stock Launches PhunCoin

    August 27th 2021 saw PHUN stock announce the launch of a security token by the name of PhunCoin. The fully integrated enterprise cloud platform for mobile is known as Multiscreen-as-a-Service (MaaS), which facilitates the provision of products, solutions, data, and services for global brands. With the release of PhunCoin, the company hopes to empower consumers to take control of and be compensated fairly for their data.

    Scope of Foray into Crypto

    The innovative cryptocurrency is uniquely positioned to be adopted on a massive scale. This is because it is built on the leveraging of the global reach and distribution of a NASDAQ-listed company that specializes in consumer engagement and monetization. The company is backed by its extensive history since its inception in 2009, having since developed mobile ecosystems for some of the world’s leading brands. PHUN stock has also generated more than 15 billion Phunware IDs from users across the globe to develop a customer data platform (CDP). This platform manages roughly one billion monthly active devices when operating at scale.

    PHUN Stock Advocates for Autonomy

    PHUN stock sought to address the exploitation of consumers’ data, which it considered to be one of the most valuable assets in the global marketspace. Accordingly, the company launched PhunCoin to usher in a new era of transparency and accountability, which will serve to enable consumers to determine the value of the data they choose to share with whoever they choose to share it with.

    PhunCoin Functionality

    The cryptocurrency will be managed by PhunWallet, which is available on both iOS and Android. PhunCoin operates in conjunction with PhunToken to establish a dual token economy that aims to blockchain-enable the company’s CDP. PHUN stock has recruited Securitize to ensure the compliant tokenization of PhunChoin. Securitize is the first blockchain-based SEC-registered transfer agent.

    Future Outlook for PHUN Stock

    PHUN stock reported a promising quarter, consolidated by its announcement of the launch of PhunCoin. The company is keen to capitalize on its foray into the NFT space, with investors hoping that management will continue leverage their resources effectively. This is hoped to facilitate significant and sustained increases in shareholder value.

  • Mechel PAO (MTL) Stock Prices Trend Higher Following Disclosure of Promising Q2 2021 Financial Reports

    Mechel PAO (MTL) stock prices were up 8.68% as of the market closing on August 27th, 2021. This brought the price per share up to USD$2.88 at the end of the trading day. Subsequent premarket fluctuations saw the stock surge by 8.68%, bringing it up to USD$3.13.

    MTL Stock Reports Promising Revenues

    MTL stock reported consolidated revenues for the second quarter of fiscal 2021 in the amount of USD$1.48 billion. This represents a 43% quarter over quarter increase. EBITDA for Q2 2021 came out to USD$0.46 billion, up 85% from the prior quarter, while EBITDA margin was up to 31%. The quarter over quarter improvements were largely driven by an increase in prices of nearly the entirety of the company’s product range in both the mining and steel divisions.

    MTL Stock’s Sales Breakdown

    In light of recent favorable market trends, the company’s enterprises have increased sales on a myriad of the most profitable products. Coking coal concentrate sales to third parties exhibited a 121% quarter over quarter increase, while coke sales increase by 53%. Sales of anthracites and PCI were up by 11%, while sales of the universal rolling mill’s structural shapes were up by 41%. Rebar sales were up by 24%, hardware by 21%, flat products by 15%, forgings by 15%, and stampings by 42%.

    Consolidating Q2 2021 Success

    Sales volume for MTL stock’s steel division saw a surge in the second quarter of fiscal 2021. This boost was driven by high demand for steel products at the peak of the construction season. The quarter’s strength was also consolidated by the company’s measures for improving their operations’ stability. This move comes after the decrease in late 2020 and early in 2021 due to insufficient investment in the last year.

    Quarterly Improvement

    MTL stock’s boost in coal production and sales led to lower unit costs at their mining facilities. The growth in steel products’ costs was largely attributable to increased prices for incoming raw materials, such as iron ore concentrate, including pellets, and coke. The financial success of Q1 2021 fueled MTL stock’s increasing of their facilities’ supply of raw materials, spare parts and components, intensify repairs, maintenance, and acquisitions of new mining equipment.

    Future Outlook for MTL Stock

    The company reported a promising quarter, consolidated by the strength of its Q2 2021 financial reports. MTL stock is poised to capitalize on the opportunities afforded to it over the course of the upcoming quarters. Investors are hopeful that management will be able to facilitate significant organic growth over the long term.

  • The9 Ltd. (NCTY) Stock Continues Rising Following Initial Launch of NFTStar Platform

    The9 Ltd. (NCTY) Stock Continues Rising Following Initial Launch of NFTStar Platform

    The9 Ltd. (NCTY) stock prices were up by 4.46% as of the market closing on August 27th, 2021. This brought the price per share up to USD$14.99 at the end of the trading day. Subsequent premarket fluctuations saw the stock rise by 8.67%, bringing it up to USD$15.29.

    NCTY Stock Announces NFTSTART Platform

    August 29th, 2021 saw NCTY stock announce having formally entered the Non-Fungible Token (NFT) marketspace. The company’s wholly-owned subsidiary, NFTSTAR Singapore, will launch an NFT trading and community platform NFTSTAR. The platform is forecasted to be officially launched in the fourth quarter of fiscal 2021, with a user pre-registration incentive program now underway.

    Appointment of new COO

    The company concurrently announced the appointment of Mr. Palrecha as NFTSTAR’s Chief Operations Officer (COO). Mr. Palrecha brings his extensive experience and resources to the table in the operation of the NFT platform, as evidenced by the success of NBA Top Shot, which was developed and operated by Dapper Labs, in the NFT market. His collaboration with NCTY stock’s management team will facilitate the formulation of both short-term and long-term product and operation strategies. Mr. Palrecha will be charged with business development and the fostering of partnerships with celebrities and strategic partners. He will also be responsible for business operations and the establishment of an operation team in North America.

    About NFTStar

    NFTSTAR is an NFT trading and community platform that facilitates the provision of purchase, trade, and interactive activities to users. It will feature NFT collections created by global stars licensed IPs, with users able to buy different tiers of blind boxes and own stars’ limited NFT collections. Upon purchase, users will obtain the ownership of unique NFT collectibles, each of which has a unique record on the blockchain. NFTs can be purchased on the platform or traded on NFTSTAR’s marketplace.

    Scope of NCTY Stock’s Platform

    The initial launch will see global sports stars being the main partners, but NFTSTART Community is expected to grow to feature stars from various fields. This includes celebrities from fields including, but not limited to, sports, entertainment, art, and other industries. NCTY stock expects to shortly announce NFTSTAR’s sports stars lineup one by one.

    Future Outlook of NCTY Stock

    NCTY stock prices continue their upward trend on the success of the initial launch of the NFTSTAR platform. The company is poised to capitalize on the opportunities afforded to it from its foray into the NFT marketspace. Investors are hopeful that management will continue to effectively leverage their resources. This is hoped to facilitate organic growth over the long term.

  • Intevac Inc. (IVAC) Stock Trends Higher After Disclosure of Lackluster Q2 2021 Financial Reports

    Intevac Inc. (IVAC) Stock Trends Higher After Disclosure of Lackluster Q2 2021 Financial Reports

    Intevac Inc. (IVAC) stock prices were up by 0.61% as of the market closing on August 27th, 2021. This brought the price per share up to USD$4.98 at the end of the trading day. Subsequent premarket fluctuations saw the stock rise by 5.22%, bringing it up to USD$5.24.

    IVAC Stock’s Net Loss Report

    IVAC stock reported a net loss for the second quarter of fiscal 2021 in the amount of USD$6.1 million, representing a net loss of USD$0.25 per diluted share. This is comparable to a net income of USD$1.5 million in the second quarter of fiscal 2020, which came out to a net income of USD$0.06 per diluted share.

    IVAC Stock’s Revenue Breakdown

    Revenues for the second quarter of fiscal 2021 came out to USD$13.8 million. This was comprised of USD$5.4 million in TFE revenues, which consisted of upgrades, spares, and service. The other USD$8.4 million was comprised of Photonics revenues. Photonics revenues was comprised of USD$5.3 million in product sales and USD$3.2 million in R&D development contracts. This is comparable to the USD$28.8 million in revenues, which consisted of USD$16.6 million in TFE revenues and USD$12.2 million in Photonics revenue. TFE revenues consisted of two 200 Lean HDD systems, upgrades, spares, and service. Photonics revenue consisted of USD$6.1 million in R&D development contract and USD$6.1 million in product sales.

    TFE Gross Margins

    The company reported TFE gross margin for Q2 2021 in the amount of 18.7%, as compared to the 36.4% in Q2 2020 and 23.1% in Q1 2021. The year over year and quarter over quarter difference was largely driven by IVAC stock’s lower revenues, which affected factory utilization.

    Photonics Gross Margin Reports

    IVAC stock reported a photonics gross margin in the amount of 24.9%, down from the 43.9% reported for Q2 2020 and up from the 13.1% reported in Q1 2021. The year-over-year decrease was largely driven to lower revenue, as well as higher costs associated with the completion of the integration of IVAC’s camera into the IVAS platform. The quarter over quarter was primarily attributable to a sequential increase in revenues, as well as higher margins on development programs.

    Future Outlook for IVAC Stock

    The release of financial reports for Q2 2021 were followed by IVAC stock’s price suffering, despite topping revenue estimates. With promising forecasts, the stock is making a rebound as it continues to trend higher. Current and potential investors are hopeful that management will be able to facilitate significant and sustained increases in shareholder value.

  • VMware Inc. (VMW) Stock Trends Lower Following Disclosure of Financial Reports for Q2 2021

    VMware Inc. (VMW) Stock Trends Lower Following Disclosure of Financial Reports for Q2 2021

    VMware Inc. (VMW) stock prices were down by 8.30% some time after market trading commenced on August 27th, 2021. This brought the price per share down to USD$145.62 at the end of the trading day.

    VMW Stock Addresses Market Changes

    The company reported observing its customers evolving their strategies from a ‘cloud first’ to a ‘cloud smart’ perspective. This sees them striving to pick the right clouds and cloud services for associated workloads, resulting in a large scale turning to multi-cloud environments. VMW stock aims to deliver the multi-cloud platform for all applications, allowing for the digital innovation and enterprise control required by customers. With the company’s help, these customers are better equipped to accelerate their business.

    VMware Anywhere Workspace

    VMW stock introduced VMware Anywhere Workspace over the course of the second quarter of the fiscal year 2022. The solution integrates VMware Workspace ONE, VMware SASE, and VMware Carbon Black Cloud to empower companies to manage multi-modal employee experiences. It also serves to facilitate better securing of the distributed edge, as well as to promote automation in the workspace.

    VMW Stock Partners with Zoom

    The second quarter of the fiscal year 2022 saw the company collaborate with Zoom Video Communications to enable a better and more secure collaborative experience for hybrid work environments. This will allow for interoperability between VMware Anywhere Workspace and the Zoom collaboration platform. As a result, consumers will enjoy improved ease of use, application and network performance, and security.

    Additional Collaborations

    Vapor IO and VMW stock announced their collaborative efforts to build a Multi-Cloud Services Grid that integrates the VMware Telco Cloud Platform with Vapor IO’s Kinetic Grid platform. The grid will be designed to greatly simplify and lower the costs of deploying distributed 5G systems and real-time applications. VMW stock and Cohere Technologies are developing an open radio access network (O-RAN) solution. This will help communications service providers facilitate improvements in network and spectrum efficiencies. With this, VMW stock hopes to deliver new and differentiated services and experiences for its consumer base.

    Future Outlook for VMW Stock

    VMW stock reported a promising quarter, consolidated by the strength of its financial reports for the second quarter of fiscal 2022. The company is keen to leverage the resources at its disposal to usher in unprecedented growth over the upcoming quarter. Investors are hopeful that management will be able to facilitate significant and sustained increases in shareholder value.

  • Taoping Inc. (TAOP) Stock Undergoes Minor Volatility Following Signing of MOU with APC

    Taoping Inc. (TAOP) Stock Undergoes Minor Volatility Following Signing of MOU with APC

    Taoping Inc. (TAOP) stock prices were down by 4.20% as of the start of market trading on August 27th, 2021. This brought the price per share down to USD$3.42 at the end of the trading day.

    TAOP Stock Signs MOU

    August 27th, 2021 saw TAOP stock announce the signing of a memorandum of understanding (MOU) between the company’s wholly-owned subsidiary Toaping Digital Assets and Aral Petroleum Capital. The MOU will facilitate the establishment of a joint venture in Kazakhstan. TAOP stock will own 51% of the joint venture, while the other 49% will be owned by APC. TDAA will be responsible for controlling the board of directors of the joint venture.

    About Aral Petroleum Capital

    APC is an oil and gas exploration and development company that operates in Kazakhstan as a wholly-owned subsidiary of Caspian Energy. The partnering company holds an exclusive license which facilitates the exploration and development of certain oil and gas properties known as the North Block. The North Block is an area that spans 1,916 square km. The company also holds a production contract for the area known as East Zhagabulak. APC is armed with a strong position within the industry and integration experience. This allows it to ensure a high-quality utility-scale electricity supply at a low cost to the joint venture.

    Scope of Partnership

    The joint venture will invest and build cryptocurrency mining sites that will boast a total capacity of 100MW. The first stage of construction of 30 MW is forecasted to be completed within three to six months. TDAA will have the priority to deploy cryptocurrency mining machines owned by TDAA or its partners. The collaboration will facilitate the operation and maintenance of crypto mining machines in Kazakhstan. The joint venture also plans to rent out excess operating capacity to third parties for additional income. April 15th 2021 saw TAOP stock announce the signing of a Bitcoin mining machine purchase agreement with Bitmain Technologies Ltd. The agreement will see the purchase of Antminer S19j Pro Bitcoin mining machines with a total hash rate of 300,000 TH/s.

    Future Outlook for TAOP Stock

    The company reported a promising quarter, consolidated by its recently announced MOU with APC. TAOP stock is poised to capitalize on the opportunities afforded to it in an effort to continue its trajectory of success. Investors are hopeful that management will be able to facilitate consistent gains in shareholder value.

  • Multiplan Corp. (MPLN) Stock Exhibits Minor Volatility Following Announcement of Share Repurchasing Program

    Multiplan Corp. (MPLN) Stock Exhibits Minor Volatility Following Announcement of Share Repurchasing Program

    Multiplan Corp. (MPLN) stock prices were down by 5.53% as of the market closing on August 26th, 2021. This brought the price per share down to USD$5.64 at the end of the trading day. Subsequentcurrent market fluctuations have seen the stock rise by6.82%, bringing it up to USD$6.03.

    Share Repurchase Program

    August 27th, 2021 saw MPLN stock announce that its Board of Directors had approved a share repurchase program. This authorization will see the company repurchase up to USD$250 million of its Class A common stock from time to time. The repurchasing can take place in the open market transactions at prevailing prices, as well as by other means in accordance with federal securities laws. The repurchase program is effective immediately, with an expiry date of December 31st, 2022. However, the company anticipates completing the repurchasing program before it expires.

    Potential of MPLN Stock’s Program

    The repurchasing program reflects the strength of the company’s business model and their cash flow. It also demonstrates the confidence of both the senior management team and Board of Directors in a continuation of the company’s strong performance. In light of this confidence, MPLN stock is keen to leverage the attractive opportunity to reacquire its common shares at a discount to their inherent value. This program is consistent with the company’s history of making use of disciplined capital allocation to facilitate significant returns on shareholder investments over the long term.

    Funding Repurchasing Program

    Purchases of shares will be funded using MPLN stock’s cash on hand, as well as cash from operations. This is supported by the company’s solid liquidity position, which totaled USD$158 million in cash and cash equivalents as of June 30th, 2021. The company expects share repurchases will be funded in part by future cash flow generated by the company’s operations. The majority of cash flow is planned to be allocated towards investments in organic growth initiatives, acquisitions, and debt reduction. Shares that have been repurchased will be held in treasury shares. They will be available for use in connection with MPLN stock’s plans and for other corporate purposes.

    Future Outlook for MPLN Stock

    The company reported a strong quarter, consolidated by the announcement of its share repurchase program. MPLN stock is keen to leverage the resources at its disposal to usher in organic growth over the long term. Investors are hopeful that this will translate into significant and sustained increases in shareholder value.