STOCKS TELEGRAPH

Author: ST Staff

  • CBAK Energy Technology (CBAT) stock soared in the after-hours trading session: here’s why

    CBAK Energy Technology (CBAT) stock soared in the after-hours trading session: here’s why

    CBAK Energy Tech (CBAT) stock recently traded at $5.02 which is a 0.40% upward movement. The CBAT stock previously closed at $5.00. CBAT stock also soared in the after-hours trading session by 16.53% at the time of writing.

    The boost in the CBAT stock price in the recent trading session has a possible relation with CBAK’s prospering performance and operation expansion in both the EV market and now recently the Hydrogen energy market.

    Brief introduction to CBAK Energy Technology

    CBAK Energy Technology, Inc. is an electrical equipment & parts company that deals with the production, manufacturing and sale of electrification applications and solutions. The company has a diversified portfolio of electric products and solutions which include electric tools, electric cars, heavy electric vehicles, energy storage, uninterruptible power supply along with other powered applications. CBAT stock had recently entered the EV market and has been the first lithium battery manufacturer in China listed on the NASDAQ stock market. The company is currently a leading seller and manufacturer of the latest high energy lithium battery.

    CBAK announces the addition of Fuel Cell development to its portfolio

    CBAK announced on 15th March 2021, that it has shown a keen expressed interest in the hydrogen fuel cell market by signing a memorandum of cooperation with a leading European Hydrogen energy group.

    The announcement does not specify if this is the actual name of the European Company or just a general description. However, CBAK, does give details about the partner’s company operations and background stating that it has 100 years of operation history and was created in 1902. The company has over 60,000 employees and its revenue reached 20.3 billion euros in 2017. Oxygen, Nitrogen, and Hydrogen are the related portfolios for its operations since its creation.

    The press release says that CBAK and the “Hydrogen Energy Group” will be actively looking for new partnership opportunities in the future which will include but not limit to areas of hydrogen fuel cell stack, hydrogen storage, refueling stations, Fuel cell production, and more. This MOC will give both company’s a boost for their stock value especially CBAT stock.

    CBAK shows a consistent operational performance

    CBAK has shown strong performance and fundamentals in this first week of the month and has been surging since the past year due to its growth potential in the EV market. However, it had a well over 19% plunge in February as the hype around growth stock and EV stocks died down in the month. This was because traders and investors have developed a more cautious approach to these stocks; they decided to sell off a substantial portion of the EV stocks.

    CBAT stock maintained consistent operational activities during the EV market dip, which briefly propped up its stock value as it announced a new battery tech on Feb 19 which functions in ultra-low temperatures and known as 26650 lithium rechargeable batteries or simply Special 26650 battery.

  • Galectin Therapeutics Inc. (GALT) stock plunged in the after-hours trading session: here’s why

    Galectin Therapeutics Inc. (GALT) stock plunged in the after-hours trading session: here’s why

    Galectin Therapeutics Inc.  (GALT) stock recently traded at $2.80 which is a 35.27% upward movement. The stock previously closed at $2.07. GALT stock, however, plunged in the after-hours trading session by 10.71% at the time of writing.

    The recent trend of downward movement of the GALT stock in the after-hours session comes with no news. However, the increase of 35.27% in the previous day’s trading session was due to GALT’s announcement of launching a trial website called NAVIGATEnash.com for educational purposes.

    Galactin Therapeutics’ background

    Galactin Therapeutics is essentially a biotech company which focuses on the development of novel therapies in an innovative way for the treatment of chronic liver disease and cancer patients. GALT stock is the leading developer for specialization in galectin proteins. The lead drug of the biotech company is a carbohydrate based drug that inhibits galectin-3 protein. It’s known as belapectin (GR-MD-02) which treats multiple inflammatory, fibrotic and malignant diseases. Belapectin has been given the fast track designation by the Food and Drug Administration which will allow the drug development, testing and approvals to become more efficient.

    What is NAVIGATEnash.com

    GALT announced a press release on 6th April to announce the launch on its website called NAVIGATEnash.com. It is created to bring awareness among the users as well as patients and physicians about liver cirrhosis which results from non-alcoholic steatohepatitis. The physicians can refer patients on the website or participate themselves by clicking the “For Physicians” section provided on the homepage.

    More details about NAVIGATEnash.com

    The website also gathers support for GALT’s NAVIGATE study. NAVIGATE is aimed to target the prevention of NASH cirrhosis which can manifest into a potentially life-threatening complication. In details, its goal is to prevent the development of esophageal varices which is an earlier sign of further serious complications of NASH cirrhosis. The study will offer the opportunity for volunteers who are patients as well as their families to participate in the creation of the first potential therapy aimed specifically for NASH cirrhosis.

    GALT’s primary clinical program focus

    GALT stock’s lead candidate is the Belapectin that contains the galectin-3 protein inhibitor. Belapectin is the candidate drug being tested in the NAVIGATE study for the adaptively designed Phase 2b/3 trial. This treatment is specifically aimed for NASH cirrhosis patients who indicate clinical signs of portal hypertension and are at the risk of developing esophageal varices. Phase 2b part of the trial will enroll approximately 315 NASH patients from 130 sites and 12 countries. There will be an interim analysis conducted after 18 months to determine the amount of dosage required for belapectin. After this, the trial will successfully move towards phase 3.

    Galectin’s aim for other pipeline programs

    Galectin has many clinical programs in its pipeline which include treatment of combination immunotherapy which is for advanced melanoma and other malignancies. However, the initiation of these clinical programs is dependent on partnerships with suitable companies. A partnership is required from which it can seek scientific and development expertise. This will allow GALT stock to expand its clinical-stage operations which will attract more investors. However, it is important for the clinical programs to announce success in order for it to sustain its operational progress

  • Property Solutions Acquisition (PSAC) stock Confirm Pending Merger In EV Space. Here’s What happened

    Property Solutions Acquisition (PSAC) stock Confirm Pending Merger In EV Space. Here’s What happened

    Property Solutions Acquisition (PSAC) peaked investor interest after confirmation of filing essential documents with the U.S. Securities and Exchange Commission (SEC)in regards to the PSAC merger in the electric-vehicle (EV) community.

    PSAC stock price increased by more than 10% as it notified its aim to merge with Farraday Future, a distinguished company specializing in Electric vehicles, in late January. Hence the SPAC price increased up to $20 per stock, which is approximately double compared to its price in the beginning of2021. However, the share price plunged $12 per PSAC share by early March, as investor interest for SPACs, in general, decreased, even though the agreement was still on.

    Could The Property Solutions Acquisition Corp. (NASDAQ: PSAC) Ownership Structure Be Significant For Company Valuation?

    With a market capitalization of US$366m, Property Solutions Acquisition does consist of institutional investors, with LLC owning 18% of shares outstanding, however, no single shareholder has significant control over the company as, the second-largest shareholder owns a tiny proportion of 4% with the third-largest shareholder owning 3.4% respectively.

    43% of the company is owned by the general public which can still make a collective impact on company policies, even though ownership may not be adequate to overturn a decision in their favor.

    Private Companies own 18%, of the Property Solutions Acquisition shares, depicting that the company has credibility among institutional investors, however still considers general public ownership to be of most significance.

    Conclusion

    PSAC offered a better-than-expected outlook for the current quarter, and are anticipated to produce a decent profit as their stock price surged 10% after announcing their merger with Faraday future, a renowned company in the lucrative Electric-vehicle market. Furthermore, SPAC price per share reaching an all-time high of $20, and diversification into the EV industry has further peaked investor interest.

  • Denison Mines (DNN) Stock Price dropped By 3.85% Recently. Here’s What Happened

    Denison Mines (DNN) Stock Price dropped By 3.85% Recently. Here’s What Happened

    Denison Mines Corp (DNN) Stock Price had a drop of 3.85% as the market cooled down after a sudden 10.2% increase in stock price the day before as DNN confirmed that it has completed a Funding Agreement with the English River First Nation with a Letter of Intent as well.

    The contract and letter of intent include the development of the expected in-position recovery uranium mine functioning at Denison’s, which is a 90% acquired by the Wheeler River Uranium Project. The location of uranium mining and its associated project is expected to be in the Athabasca Basin region in northern Saskatchewan. Furthermore, Denison and English River First Nation have also secured an exploration contract so Denison’s exploration of Uranium will take place among the cultural land of English River First Nation.

    Denison has stated that these contracts depict its aim of establishing a business in a modern and self-sufficient way that is on par with English River First Nation rights and forms a relationship with Indigenous peoples.

    Uranium, essential for green energy?

    Uranium has seen a sudden soar in price as Biden’s policy and aims to convert the US economy to clean electricity require building more nuclear plants and enriching them with uranium.

    Furthermore, experts from the EU are insisting EU governments to change the classification of nuclear energy to clean and sustainable hence uranium will be considered essential for green energy surging the price of uranium and its stocks. One nuclear plant produces as much electricity as approximately two coal plants or three to four renewable plants as reported from a US federal agency peaking investor interest in uranium ‘enriched’ stocks.

    Conclusion

    The contracts set that support mining operations while respecting the traditions of the surrounding has proven the company to have an ethical stance. Furthermore, with China announcing to increase 48 gigawatts presently, to 70GW by through uranium, Investors are expecting future valuations of the company to climb as the company displays ethical values combined with a competitive spirit.

  • BP p.l.c. (BP) stock soared in the recent trading session: here’s why

    BP stock recently traded at $25.46 which is a 5.03% upward movement. The BP stock previously closed at $24.26.

    The recent BP stock movement has had a positive bump which came adjacent with the BP announcement that it is expecting to reach its net debt target earlier than expected.

    In-depth operational background of BP PLC

    BP PLC is the leading energy company globally. It was founded in 1889 and is headquartered in London, UK. The Upstream segment of BP consists of oil and gas exploration and extraction. The process also includes operations of processing, supplying, marketing, and trading of LNG and other fuels that have been extracted. The downstream segment of operation includes the refinement process, manufacturing, transportation and trading of crude oil, petroleum, petrochemical, and supply services to wholesale and retail customers. The last operation segment of BP PLC is known as the Rosneft segment which owns 13 refineries in Russia and engages in the exploration and production of mainly Hydrocarbons. Its other products include ethanol, bio-power, solar energy, and lubricant activities.

    BP PLC announces that it is reaching its net debt target earlier

    Along with possibly reaching the net debt target which was boosted by assets sales, there was also news of oil prices going up and higher. BP had previously forecasted that Q4 of 2021 and Q1 of 2022 will be the timeline where it will reach its $35 billion net debt. Furthermore, the details of the sale include an Oman-based oil field’s stake as well as an interest in Palantir. This Q1 net sale totaled $4.7 billion. BP stock will now resume its share buybacks.

    Reasons of increase in Oil prices

    The Brent futures rose to $62.63 (0.8%) and crude futures reached $59.21 (1%). However, oil price had fallen a day earlier by around 4% on both Brent and crude futures. The reason for this was that OPEC countries and OPEC-allied countries decided to increase oil production to 350,000 bpd supply in May, 350,000 bpd in June, and 400,000 in July.

    Rise of prices is due to uplift in the economy of the US and China. UK is seeing the ease in lockdown restrictions as the number of COVID cases reduces in the country and chances of herd community become seemingly possible. Earlier in the UK, there was a fear of oil demand dropping because UK prime minister Boris Johnson made no confirmation as to when the foreign travel may resume since new variants have emerged.

    Speculation of Iran-US talks and potential nuclear-deal

    Since Biden has taken the seat of presidency there has been ongoing discussions of talks with Iran. These discussions have been around the subject of allowing Tehran sanctions relief in exchange for restriction of a nuclear program to allow it to connect with the rest of the world. Now the latest round of talks is happening indirectly in Vienna. However, it has raised concerns and speculations of global oil price dropping again if the deal went through as Iranian oil supply will increase in the world.

  • Phunware, Inc. (PHUN) stock is popping high today: Why is it so?

    Phunware, Inc. (PHUN) stock is popping high today: Why is it so?

    Shares of Phunware, Inc. (PHUN) stock were popping high today after the spread of the news that Phunware board of directors has authorized the Bitcoin purchases for the launch of the Blockchain ecosystem after which the PHUN stock price saw a push of  25.58% to reach $2.16 a share at the time of this writing.PHUN stock seemed green at the previous trading session and closed with a 6.17% gain. Let’s have a look at current events.

    What’s happening?

    Phunware, Inc is the provider of an integrated software platform to brands worldwide to monetize their mobile application portfolios.PHUN’s board of directors has authorized the Bitcoin purchases for the launch of its Maas Customer Data Platform and Maas Mobile Loyalty Ecosystem both of which are equipped with Blockchain technology.

    PHUN stock is expected to release its mobile application PhunWallet on both iOS and android soon this month after getting approvals from Apple App Store and Google Play Store.PhunWallet will reward consumers PhunCoin and PhunToken for the value of their data and engagement, respectively.

    Recent Developments:

    According to the management, Phunware recently completed the purchase of 25.8 bitcoin at an average price of $58,133 per bitcoin. PHUN stock has recently signed an agreement with BitPay in order to expand its corporate benefits package. Employees would be provided cryptocurrency payroll options including Bitcoin, in connection with this agreement.

    Financial View of PHUN stock:

    On March 26, 2021, Phunware stock announced the fourth quarter and full-year 2020 financial results according to which PHUN stock recorded $10.0 million net revenue in 2020. Revenue from the MaaS platform totaled $9.1 million for PHUN in 2020. Gross margin was 66.4% in 2020 while net loss and net loss per share were $22.2 million and $0.50, respectively.

    In the fourth quarter of 2020, earnings per share fell by 20% while the revenue was reduced by 24.93% as compared to the same period of the prior year to drop at $2,018,000 and missed the estimate of  $3,200,000.

    Conclusion:

    Investors are responding to the news of PHUN stock related to authorization of Bitcoin purchase by the board of directors of Phunware. Management is focused on the adoption of cryptocurrencies as well as providing blockchain services to various enterprises. Financial results of PHUN stock showed a declined growth in terms of its revenue. In a nutshell, deep fundamental and technical analysis is necessary before adding PHUN stock to the portfolio.

  • MicroVision (MVIS) Stock Price Surged 24.7% In March. Here Is What Happened

    MicroVision (MVIS) Stock Price Surged 24.7% In March. Here Is What Happened

    MicroVision (MVIS) stock climbed 24.7% in March as MVIS avoided the fluctuating and unforeseeable nature of stocks in the laser scanning technology area, used for a variety of purposes. This produced huge capital gains due to an emphasis on corporate management and a huge future potential in the scanning methodology the company pioneered.

    MVISreleased its 4th quarter result, stating that a staggering $395,000 in the capital was produced due to licensing revenue however a net loss of $3.6 million took place in the same time frame, which the company intends to improve through strategic alliances.

    Furthermore, rumors that MVIS long-range light-detection-and-ranging (lidar) technologies could be commercialized for general public use by as early as this year soared MVIS stock immensely.

    MicroVision stock price was also increased at the end of the month following news that a $22B Agreement took place among Microsoft and providing augmented reality Headsets for the US Military.

    So what

    MicroVisionaims to show a prototype of its long-range lidar technology, and MVIS expects to sell a few units by the end of this year. The company is predicted to provide parts to Microsoft for its HoloLens 2 components, and a strategic relationship between Microsoft and the US military showed a sudden surge in Investor interest with a potential of huge financial surplus.

    MVIS stock had a whopping 109% increase compared to the company’s share price in February, however, Microvision Stock price decreased 16.7% in the first trading day of April, being hit with a significant sell off.

    Conclusion

    MVIS offered a better-than-expected outlook for the current quarter and anticipates sales and profits to grow for the full year after gaining a gigantic financial surplus due to providing components to Microsoft for their headsets after Microsoft struck a deal with the US military worth $22B.

  • Romeo Power Inc. (RMO) stock went up in the recent trading session: here’s why

    Romeo Power Inc. (RMO) stock recently traded at $8.02 which is a 3.14% downward movement. The RMO stock previously closed at $8.28. RMO stock however soared in the pre-market trading session by 11.97% at the time of writing.

    The recent positive movement in the RMO stock came adjacent with the press release of Romeo stating that it entered into a long-term supply agreement for battery electric vehicles.

    About Romeo Power (RMO)

    Romeo Power is essentially an auto-parts Company that specifically focuses on manufacturing and selling electric vehicle components and parts. It is an energy tech leader that has scaled up its electrification solutions and now sells diverse commercial applications. Its flagship products are battery management systems as well as complex hardware applications. Romeo Power was founded in 2016 and is headquartered in LA.

    The company also has a mega manufacturing facility which envelopes 113,000 square feet of land upon which it was built. This allows it to combine the design and manufacturing sector under one-roof which allows it to excel in the craft of the most complex and efficient application designs.

    RMO stock is pushing through backlash and investigations

    There are several investigations being made on Romeo Power for announcing on 30 March 2021 that its projection for 2021 of $140 million revenue has been revised due to the shortage of battery cells now to $18-4. This caused a 19.7% slump in the stock price on 31st March which led the RMO stock to close at $8.33.

    Previously the company announced on 29th December that it has gone under a SPAC deal completion and that on 30th December RMO stock will start publically trading. Estimation of revenue for 2021 was then made.

    The company is being investigated now many firms including Kaplan Fox and Bronstein for potential securities fraud.

    Romeo pursues a long term deal with PACCAR

    Amidst these investigations and allegations, Romeo Power has been steadily running its operations and seeking out more partners for long-term supply agreements. Today ROM stock is moving upwards in the current trading session because of the announcement that it has entered into a long-term deal with PACCAR (NASDAQ: PCAR). PACCAR is the manufacturer of high-quality Trucks of each light, medium, and heavy-duty variant.

    The specifics of the deal are that the supply and provision of battery packs, modules, and battery management systems (BMS) for PACCAR. Furthermore, the agreement specifies that Romeo Power will be a battery supplier for PACCAR’s Peterbilt 579 and 520 BEVs through 2025 in the United States and Canada.

    What is the outlook for RMO stock’s operational performance?

    The shortfall in the battery cell capacity industry-wide has affected the manufacturing and supply distribution of Romeo Stock which affected the RMO stock performance. However, Romeo Power is adamantly in pursuance of long-term supply agreements for battery cells from several preferred providers. Romeo Power has also not deterred from its quality and validation assurance process for cells when looking for their procurement and contracted order backlog.

  • AzurRx BioPharma Inc. (AZRX) stock gains in the pre-market trading. Here’s to know why?

    AzurRx BioPharma Inc. (AZRX) stock gains in the pre-market trading. Here’s to know why?

    AzurRx BioPharma Inc. (AZRX) stock declined by 3.92% at the last trading close whereas the AZRX stock gains by 2.04% in the pre-market trading after AZRX announced that they have started their Phase 2 RESERVOIR clinical trial of a proprietary oral formulation of micronized niclosamide. AzurRx BioPharma is a clinical-stage biopharmaceutical company focused on developing non-systemic, therapeutic strategies for gastrointestinal (GI) diseases.

    What is happening?

    Today AzurRx BioPharma announced that it has started the RESERVOIR Phase 2 clinical trial of a proprietary oral formulation of micronized niclosamide for the prevention of COVID-19-related GI infections. Patient registration is set to begin in April 2021, with topline results expected in the first quarter of 2022.

    The RESERVOIR Phase 2 clinical trial of AZRX stock is a two-part, two-arm, placebo-controlled study that looks at the safety and effectiveness of micronized oral niclosamide tablets, also known as FW-1022, in patients with COVID-19 GI infection. The primary goals of this study would be to confirm the safety of niclosamide in the treatment of COVID-19 GI infection in patients and also to show that it has the ability to clear the SARS-CoV-2 virus from the GI tract.

    The rate of fecal SARS-CoV-2 virus clearance (rectal swab or stool sample) measured by RT-PCR in the RESERVOIR trial is the primary efficacy indicator, with the niclosamide arm compared to the placebo arm for up to six months. These long-term data suggest that niclosamide treatment can help with COVID-19 symptoms in the long run.

    Furthermore,

    The Chief Medical Officer of AzurRx, Dr. James Pennington said that Long-haul COVID cases are becoming a big problem around the world, and it’s fair to believe the GI tract may be acting as a silent reservoir. Because of its validated safety profile, known efficacy in treating other GI ailments, and exceptional ability to stay in the gut for extended periods of time, the team at AZRX stock assumes that niclosamide is ideally suited to remove these secret GI SARS-CoV-2 reservoirs. AZRX’s micronized niclosamide formulation, which allows for localized concentrations in the gutwill enhance these properties.

  • Aptinyx Inc. (APTX) stock rises in the pre-market trading. Here’s to know why?

    Aptinyx Inc. (APTX) stock surged by 7.33% at the last trading close while the APTX stock continued to show gains by 1.86% in the pre-market trading as well after APTX announced that it has recommenced the screening of patients in a Phase 2 study of NYX-458. Aptinyx is a clinical-stage biopharmaceutical company that develops and commercializes patented synthetic small molecules for the cure of brain and nervous system disorders.

    What is happening?

    Today on April 6, 2021, APTX stock has reported that patient screening for a Phase 2 trial of NYX-458 in patients with moderate cognitive impairment, mild dementia associated with Parkinson’s disease, and dementia with Lewy bodies has started again. The results of this study are expected to be released in the second half of 2022, according to the company.

    NYX-458 is a novel oral NMDA receptor modulator that is currently being studied in clinical trials for the cure of cognitive dysfunction in Parkinson’s disease and dementia with Lewy bodies. In a design that is closely comparable to Parkinson’s disease in humans, NYX-458 has been shown to reverse cognitive deficits in nonhuman primates.

    Outlook of Phase 2 study

    The Phase 2 study is a randomized, double-blind, parallel-design, placebo-controlled trial in about 100 patients with moderate cognitive impairment or mild dementia linked with Parkinson’s disease or prodromal or indicate dementia with Lewy bodies to assess the safety and possible cognitive benefits of NYX-458.

    Over the course of 12-week duration, the study aims to compare daily oral dosing of NYX-458 30 mg to placebo. NYX-458’s overall safety and efficacy in patients will be assessed, as well as the drug’s possible cognitive benefits across various neurocognitive endpoints based on the concentration, memory, and executive function.

    Furthermore,

    The CEO of Aptinyx Norbert Riedel said that they are hoping for positive results from the evaluation of NYX-458 in patients who are suffering from cognitive impairment. He also added that current treatments for these patients often fail to provide significant results, and new treatment approaches are desperately needed. They also assume that NYX-458’s mechanism is ideally suited to solve these patients’ cognitive deficits, and they look forward to building on the convincing preclinical evidence we’ve gathered so far with NYX-458.