STOCKS TELEGRAPH

Author: ST Staff

  • Do You Know Why IMRA Stock Jumped Nearly 7% In After-hours Session?

    Do You Know Why IMRA Stock Jumped Nearly 7% In After-hours Session?

    IMARA Inc. (IMRA) shares were up 7.91% in after-hours trading at $6.00 on the last check on Friday. At $5.56, Imara stock closed the last session down -4.14% or $0.24. IMRA shares traded between $5.42 and $5.89 during regular trading. On the day, 0.86 million shares of IMRA stock were traded, exceeding the company’s 50-day daily volume of 0.15 million and exceeding its Year-to-Date volume of 0.15 million.

    The share price of IMRA stock has fallen -74.28% over the past 12 months, while it has declined by -22.78% over the past week. The IMRA stock has decreased by -59.83% over the last six months, and by -19.65% over the last three months. After announcing the pricing of its underwritten public offering, IMRA stock rose.

    What is the stock offer of IMRA?

    Imara is a clinical-stage biotech company developing and commercializing novel therapies for treating patients suffering from hemoglobin disorders caused by inherited genetic changes. IMRA is currently working on developing IMR-687, a small molecule inhibitor of PDE9 capable of modifying sickle cell anemia and beta thalassemia through oral administration, once daily. A multimodal mechanism of action is being designed for IMR-687, which will act on red blood cells, white blood cells, adhesion mediators, and other types of cells.

    It was announced last Tuesday that Imara Inc. had priced its previously announced underwritten public offering of common stock.

    • After underwriting discounts and commissions, the public offering price for IMRA’s stock was $6.00 per share, which resulted in proceeds of $50 million.
    • According to customary closing conditions, the offering was expected to close on July 16, 2021.
    • IMRA itself offered all shares.
    • Furthermore, IMRA has given the underwriters the option to purchase an additional $7.5 million of its common stock at a public offering price of $0.50 a share, less underwriting discounts and commissions, for a period of 30 days.

    In its latest Real Impact community support initiative, Imara recently announced its second-year award recipients.

    IMRA fund 30 nonprofit, community-based organizations (CBOs) serving patients and families affected by sickle cell disease (SCD) and beta-thalassemia out of a total of $150,000 awarded under this program. A $25,000 increase was made from the grant funding in 2020 when the program was implemented.

    How did IMRA grant the award?

    Imara (IMRA) evaluated grant applications based on metrics such as clear identification of a pressing need, plan of execution, impact on target communities, and proposed measures of success. It was important that IMRA’s executive officers were not involved in selecting grant applications as each grant committee was composed of external reviewers.

  • Did Anything Boost SGRP Stock In Extended Trading?

    Did Anything Boost SGRP Stock In Extended Trading?

    The stock of leading global provider of merchandising and marketing services SPAR Group Inc. (SGRP) has risen by 8.22% to $1.58 in extended trading on Friday. SPAR stock price fell -5.81% to $1.46 in its regular trading session. A price range of $1.4501 to $1.61 was observed for the SGRP stock. A volume of 0.13 million shares was traded in SGRP, below its 100-day daily average of 0.16 million shares.

    Within the last week, SGRP shares have gained 8.15%, and within the last month, 2.82%. The price to earnings ratio for SGRP is currently 7.77, and the price to book ratio is 1.35. SGRP also had a price-to-cash-flow ratio of 2.04. Following the appointment of some new executives to the management team, SGRP stock has risen.

    Who has been appointed to the SGRP?

    SPAR Group is one of the leading global marketing and merchandising services providers, providing a wide range of services to distributors, retailers, manufacturers, and other businesses around the globe. A global network of more than 25,000 merchandising specialists accompanies SGRP at all times, along with more than 200,000 weekly store visits and long-term relationships with some of the biggest companies in the world. SGRP can provide specialized services covering 9 countries on four continents.

    The SPAR Group announced the appointment of key executives last week, strengthening its executive team and supporting the company’s global expansion.

    • As Chief Global Commercial Officer and Chief Strategy and Growth Officer, SGRP appointed Ron Lutz and William Linnane.
    • Kori Belzer has also been named the global chief operating officer with expanded responsibilities over global operations and results at SGRP.
    • Lutz will be responsible for SGRP’s business development teams in Japan, Canada, and the United States.
    • Linnane will oversee the work of SGRP’s Chief Information Officer, Division Vice President, Great Openings Division and Senior Vice President, Operations and Assembly Division.
    • In Ms. Belzer’s expanded role as Global Chief Operating Officer at SGRP, she will have the responsibility for developing global synergies and operational efficiencies that can improve both the performance of individual countries and the enterprise as a whole.

    How will SPAR leverage the expertise of its newly appointed executives?

    SGRP’s global business development will be led by Lutz, and he will oversee global business development, branding, and marketing, and SGRP’s operations in Japan and Canada. SGRP expects Linnane to develop new markets, grow the Great Openings and Assembly business lines and expand global programs.

    Beltzer’s responsibilities at SPAR Group (SGRP) will be expanded to include developing global synergies and enhancing operating efficiency across the globe. In addition to expanding SGRP’s success in its current markets, its expanded leadership team will accelerate its expansion into new ones.

  • GOL Stock Rose 10% In Afterhours Trades, Why?

    GOL Stock Rose 10% In Afterhours Trades, Why?

    The shares of Brazil’s premier domestic airline Gol Linhas Aereas Inteligentes S.A. (GOL) were trading at $9.26 in after-hours at last check, up 10.77%. In the regular session on Friday, GOL stock closed at $8.36, down -2.45%. A total of 1.77 million shares were traded for the GOL stock on Friday, higher than the average daily volume of 1.66 million shares over the past 50 days.

    Over the last 12 months, GOL shares have gained 6.63%, and in the past week, they have gained 0.72%. The GOL stock has gained 2.58% over the past three months, while it has lost -10.30% over the past six months. Moreover, GOL’s market capitalization stand at $1.36 billion and it has outstanding shares of 177.92 million. Following the announcement of its quarterly results, GOL stock rose.

    GOL’s financials will be released when?

    GOL An estimated 36 million passengers travel through GOL annually. GOL is Brazil’s largest airline operating daily flights over 750 times to more than 100 destinations in the country and in many other Latin American and Caribbean countries. More than 3,400 Brazilian municipalities and 200 international destinations are served by GOLLOG, GOL’s cargo transportation, and logistics business. The GOL partner network offers more than 700 destinations around the world through SMILES, allowing over 16 million registered users to earn miles and redeem tickets.

    In addition to its headquarters in Sao Paulo, GOL maintains a team of approximately 14,000 high-skilled aviation professionals, who fly 127 Boeing 737 aircraft with an industry-leading on-time performance record. To enhance the customer experience, GOL invests billions of Reais in facilities, technology, products, and services.

    GOL will announce its 2Q21 earnings before trading hours on Thursday, July 29, 2021. It will be available on the GOL website under the investor relations section, and interested investors and parties will be able to download it. On the day of the conference call, GOL will issue its corporate update and financial results. The GOL website will also feature a slide presentation that can be viewed and downloaded together with the live call.

    How investors could access the webcast?

    On GOL’s website, under “Events and Presentations” investors will have the option to stream the event over the Internet. Afterwards, GOL will provide an archive of the conference call as well as a link to the webcast on its website, which will be accessible for 7 days after the call ends.

  • ControladoraVuelaCompañía de Aviación, S.A.B. de C.V. (VLRS) Stock Continues Surging Following Stellar Fiscal Q2 2021 Financial Reports

    ControladoraVuelaCompañía de Aviación, S.A.B. de C.V. (VLRS) Stock Continues Surging Following Stellar Fiscal Q2 2021 Financial Reports

    ControladoraVuelaCompañía de Aviación, S.A.B. de C.V. (VLRS) stock prices were up by 6.06% some time after market trading commenced on July 16th, 2021, bringing the price per share up to USD$23.28 early on in the trading day.

    Expansion of VLRS’ Fleet

    The second quarter of fiscal 2021 saw the company announce the incorporation of 5 new A320neo aircrafts to its existing fleet, which consisted of 92 aircrafts as of June 30th, 2021. The 6 A319s, 70 A320s, and 16 A321s have an average age of 5.4 years and an average of 188 seats per aircraft. 80% of the company’s aircrafts are sharklet-equipped, with 39% of the fleet boasting New Engine Option (NEO) models.

    Fleet Breakdown

    Over the next 18 months, the company anticipates incorporating 25 A320neo family aircrafts to its fleet, with the company hoping to end the fiscal 2021 year with 101 aircrafts and the year 2022 with 113 aircrafts. The company forecasts the percentage of A320neo family aircraft of its fleet to be in line with the company’s strategy for sustainability, coming in at 54% by the end of 2022.

    Promising Financials

    The second quarter of 2021 saw the company generate cash flow in the amount of USD$104.40 million, with the company reported a solid liquidity position of USD$532 million as of June 30th, 2021, representing 44% of the operating revenue generated over the previous 12 months. The net cash flow generated by operating activities came in at roughly USD$256.30 million, with cash outflows coming out to USD$39.10 million in investing activities and USD$149.09 million in financing activities.

    Volatility of Exchange Rate

    The comprehensive financing result for the quarter was down 2%, largely driven by a foreign exchange gain of almost USD$226 million. This was despite a 24% increase in the financial cost associated with the expansion of VLRS’ fleet. With the Mexican peso having depreciated by 5% against the U.S dollar, the exchange rate was up to Ps.20.05 per US dollar for Q2 2021, up from Q2 2020 having reported Ps.19.12. The end of the second quarter of 2021 ended with the Mexican peso appreciating 4% as compared to the exchange rate from the prior quarter.

    Future Outlook for VLRS

    Armed with the impressive expansion of its fleet of aircrafts, the company is keen to leverage its financial success to continue extrapolating its trajectory of success. VLRS is hopeful that the mitigation of the effects of the coronavirus and the return of the global economy to post-pandemic levels will further boost its growth to unprecedented levels.

  • Turquoise Hill Resources Ltd. (TRQ) stock plunged in the current trading session; here’s why

    Turquoise Hill Resources Ltd. (TRQ) stock plunged in the current trading session; here’s why

    In the current trading session, we see a downward trend for Turquoise Hill Resources Ltd. (TRQ stock) shares which plunged -15.05% to $13.74 at last check. TRQ stock previously closed the session at $16.18. The TRQ stock volume traded 1.79 million shares. In the past year up to date, TRQ shares have jumped by 95.27% and in the past week, the shares moved down by -1.40%. Furthermore, Turquoise is currently valued in the market at $3.12 billion and has 201.23 million outstanding shares.

    All you need to know about Turquoise Hill

    Turquoise Hill Resources Ltd. works as a mining operations company. TRQ stock carries out its operations along with its subsidiaries. The mining work is segmented based on different deposits; copper, silver, and gold deposits. The company is focusing on the development and operations in the OyuTolgoi mine of gold and copper. This OyuTolgoi mine is located in Southern Mongolia and the company itself has been founded in 1994 by then it went by the name of Ivanhoe Mines Ltd. However, in 2012 August, the company decided to change its name to its existing one right now. The headquarter of the company is in Montreal, Canada. Mainly the company is a subsidiary itself of Rio Tinto plc.

    Announcement of result for the 2nd quarter 2021 for OyuTolgoi Mining

    On 15th July 2021, TRQ stock had announced the update on the financial result of their second quarter of 2021’s performance. These performances are specifically recorded for the mining operations of OyuTolgoi LLC.

    The opening pit mining activities saw a decrease due to being impacted by the shortage of employees and personnel in during the pandemic. This reduction in the stockpile had caused a lot of downgrading of the quality of the stockpile being produced from OyuTolgi especially for this quarter. In the second quarter of 2021, the mill throughput had also under-performed because of the shortage of personnel which caused the throughput of the mill to be reduced by 4% compared to the throughput of the first quarter of 2021.

    However, there is potentially positive news about these updates which is that there will be access to higher copper and gold grades. This access exists due to Phase 4B which is expected to be continued throughout the rest of the year.

    Personnel shortage is being the major reason for the impacted operational and mining activities and Covid 19 is being the major reason for the shortage of personnel; cases expanded altogether in Mongolia during Q2 2021, causing a progression of lockdowns in the nation and South Gobi district which restricted the capacity of OyuTolgoi to keep up with typical program changes for its laborers. Because of COVID19, there is also development cost which is being additionally impacted with delays that took place up to 30th of June.

    Nonetheless, the organization’s labor force is 93% completely inoculated and suitable controls keep on being followed at site. OyuTolgoi keeps on helping out the Mongolian specialists to carry out and keep up with control measures to ensure the wellbeing and prosperity of its laborers just as the nearby local community.

  • Byrna Technologies, Inc. (BYRN) Stock Surges Following Announcement of Pricing of its Upsized Public Offering

    Byrna Technologies, Inc. (BYRN) Stock Surges Following Announcement of Pricing of its Upsized Public Offering

    Byrna Technologies, Inc. (BYRN) stock prices were up 12.79% shortly after market trading commenced on July 16th, 2021, bringing the price per share up to USD$25.40 early on in the trading day.

    Registered Direct Offering

    July 16th, 2021 saw the company announce the pricing of its upsized underwritten public offering, wherein the company will sell 2.5 million common shares. Each share will be priced at USD$21.00, with total gross proceeds in the amount of roughly USD$52.5 million being generated, before the deduction of expenses related to the offering. This upsizing saw the company bump its shares up from the previously announced 2.25 million common shares.

    Details of the Offering

    Furthermore, the offering includes an option for underwriters to purchase up to an additional 375,000 common shares within 30-days of the offering, at the same price as the public offering. The company plans to allocate the capital generated in net proceeds from the offering towards working capital, as well as other general corporate purposes.

    Revenue Reports

    Revenues for the second quarter of fiscal 2021 were up to USD$13.4 million, a significant year-over-year improvement from the USD$1.2 million reported for the prior-year quarter. This increase in sales was largely driven by the strength of the company’s order growth for its flagship Byrna HD personal security device. This has been facilitated by favorable media attention, as well as an increase in quarterly production volumes.

    Operating Expense Breakdown

    Operating expenses were up to USD$5.5 million in the second quarter of 2021 from the USD$1.4 million in the prior-year period. This year-over-year difference was indicative of greater investment in corporate infrastructure needed for the support of the company’s growth, largely driven by the addition of key management positions over the previous year, including, but not limited to, CFO, CMRO, CSCO, and CPO. Further facilitating the difference was an increase in marketing expenses, as well as increases in legal and public company-related costs. These costs include expenses associated with a reverse stock split, wherein the conversion of the Series A preferred stock into common stock, as well as the up-listing of the company to the Nasdaq Capital Market.

    Future Outlook for BYRN

    Armed with the influx of the capital generated from the public offering, as well as the success of its financial reports for the most recent quarter, BYRN is poised to continue its trajectory of success. 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.

  • Bit Brother Ltd. (BTB) Stock Plummets Following Pricing of Registered Direct Offering

    Bit Brother Ltd. (BTB) Stock Plummets Following Pricing of Registered Direct Offering

    Bit Brother Ltd. (BTB) stock prices plummeted by 47% shortly after market trading commenced on July 16th, 2021, bringing the price per share down to USD$1.06 early on in the trading day.

    Registered Direct Offering

    July 16th, 2021 saw the company announce having entered into a securities purchase agreement with various accredited investors. The agreement will see the company sell USD$22.5 million in ordinary shares and warrants in a registered direct offering. The offering will consist of the sale of 15 million ordinary shares and warrants that will facilitate the purchase of an additional 15 million shares.

    Offered Warrants

    The warrants will be exercisable immediately, with an expire date of five years from the date of issuance. A single unit consisting of one ordinary share and one corresponding warrant has been priced at USD$1.50, with the offering expected to generate USD$22.5 million before the deduction of expenses related to the offering.

    Acquiring Angelo’s Pizza

    July 13th, 2021 saw the company announce having entered into a non-binding letter of intent which will see it acquire a majority 51% stake in Angelo’s Pizza. The family-style boutique restaurant has been in business for 30 years, with a combined history of 120 years as it pivoted to a chain restaurant. Over this time, the company has garnered a strong brand name for itself, consolidated by excellent customer reviews. Following the completion of the acquisition, the chain restaurants will begin accepting cryptocurrency as a form of payment.

    Global Expansion

    Angelo’s Pizza intends to expand its market footprint across burgeoning international markets, such as Canada, Japan, South Korea, China, Singapore, Australia, and New Zealand. The overseas branches will allocate resources towards the provision of takeout and delivery services, given the limited dine-in capacity driven by the ongoing global coronavirus pandemic. The company expects to open up to 1000 branches around the world over the next five years. All of the branches, barring those in China, will be accepting Bitcoin in a big to tie its wagon to the cryptocurrency horse that is steadily increasing in momentum.

    Future Outlook for BTB

    Armed with the influx of capital from its registered direct offering and the acquisition of such an established restaurant chain, BTB is poised to capitalize on the opportunities afforded to it. The company is keen to push for the continued market proliferation of its chains, while investors are hopeful for significant and sustained increases in shareholder value over the long term.

  • Trinity Biotech PLC (TRIB) Stock Surges Higher Following Announcement of Proliferation of Covid-19 Testing Space

    Trinity Biotech PLC (TRIB) Stock Surges Higher Following Announcement of Proliferation of Covid-19 Testing Space

    Trinity Biotech PLC (TRIB) stock prices were up 11.70% shortly after market trading commenced on July 16th, 2021, bringing the price per share up to USD$2.229 early on in the trading day.

    Rapid Antigen Test

    The company reported being at an advanced stage in the development of an antigen test for the coronavirus that has been devastating the globe. The company leverages its core lateral flow technology to develop the test, which can be utilized without any specialized equipment, providing a result in 12 minutes. Accessibility is further enhanced with its easy-to-use anterior nasal swab sample.

    Scope of Antigen Test

    With the onset of the global coronavirus having signaled an unfathomable long-term toll on economies across the world, the world’s ongoing efforts to mitigate and eventually nullify its effects persist. As public health efforts continue with full force, antigen tests have played a critical role in the overall diagnostic response. As the world hurtles towards universal immunization, the company expects antigen tests to be a part of the core response to the pandemic, in combination with Covid-19 vaccinations.

    Rapid Antibody Test

    June 2021 saw the company submit a EUA application to the FDA for the UniGold Covid-19 rapid antibody test, which detects IgG antibodies against the coronavirus. The antibody test demonstrated a 100% sensitivity and a specificity of 95% over the course of the validation studies. The test was measured against a comparator PCR method which facilitated the confirmation of prior infection.

    EUA Application

    July 2021 saw the FDA inform TRIB that its application for the Emergency Use Authorization of the serological test would not currently be prioritized, on account of the sheer volume of EUA requests currently being processed by the government agency. In order to facilitate the timely commercialization and proliferation of its treatment, the company is exploring additional prospective pathways that would see it gain regulatory approval, thus allowing sales of the test in the U.S. Hitherto, any such potential options have required too significant and additional investment for them to be viable.

    Future Outlook for TRIB

    With the world’s continued efforts towards the aim of making the coronavirus a thing of the past, TRIB is poised to capitalize on the access it has gained to a burgeoning market. The company is keen to leverage its resources in order to drive increased market penetration. Current and potential investors are hopeful for the stock price to recover and increase over the long term.

  • How Is The LIZI Stock Rocketing In The Premarket Session?

    How Is The LIZI Stock Rocketing In The Premarket Session?

    During Friday’s premarket session, Lizhi Inc. (LIZI) shares grew 20.18% to $6.67. Lizhi stock ended last session at $5.55 after gaining 5.31%. There were 0.56 million shares traded for LIZI stock, below the average daily trading volume of 3.65 million shares over the last 50 days.

    In the last five days, LIZI shares have declined -4.80%; however, in the last month, they have lost -11.20%. The stock price of LIZI has gained 43.04 percent so far this year despite falling by -18.38% over the past three months.  Since the announcement that Lizi has partnered with an automotive technology company, Lizi stock has been surging.

    Who has LIZI partnered with?

    With Lizhi’s global presence, they have built an audio ecosystem composed of audio-centric social networks, podcast profiles, and audio community sites. The LIZI product portfolio aims to foster closer connections between people through sharing their voices. As users’ interest in social interactions in real time online grows, Lizhi provides an audio-based social networking product offering, including the TIYA App. Through LIZI’s app, users can also chat, share stories, connect with friends who have similar interests, and connect with friends online. Since January 2020, LIZI has been listed on Nasdaq.

    A partnership between Lizhi and Xinghe Zhilian Automotive Technology Co., Ltd. (“Xinghe Zhilian”) will see LIZI audio products integrated into Xinghe Zhilian’s in-car communication and entertainment network, LIZI announced in a press release today.

    • LIZI hopes to expand the application of its audio products to vehicle scenarios by collaborating with Xinghe Zhilian.
    • Through the joint partnership, LIZI’s audio technology will be further applied to vehicles through Xinghe Zhilian and its network of connected vehicles.
    • The partnership may also enable LIZI to make inroads into the field of in-car audio and reach a broader audience with its extensive podcast content and immersive audio experiences.

    LIZI’s previous similar move:

    Currently, Lizhi Inc. and Li Auto Inc. are working together on integrating Lizhi Podcast (also known as Lizhi Boke in China) into Li Auto’s vehicles. This year’s third quarter will see LIZI Podcast available in vehicles powered by Li Auto. Embedding LIZI’s vertical podcast in Li Auto vehicles will result in Lizhi Podcast being embedded in Li Auto vehicles.

    Lizhi Podcast offers access to LIZI’s existing extensive library of audio content, as well as a variety of original podcast content from industry thought leaders. In addition to gaining new audiences for its quality content, Lizhi Podcasts will continue to improve car audio experience by combining Li Auto’s technology expertise with Lizhi Podcasts.

  • Applied Optoelectronics, Inc. (AAOI) Stock Continues Downward Trend Despite Promising Q2 2021 Guidance

    Applied Optoelectronics, Inc. (AAOI) Stock Continues Downward Trend Despite Promising Q2 2021 Guidance

    Applied Optoelectronics, Inc. (AAOI) stock prices were down 1.31% as of the market closing on July 15th, 2021, bringing the price per share down to USD$7.52. Subsequent premarket fluctuations saw the stock fall by another 5.59%, bringing it down to USD$7.10.

    Weathering the Storm

    With the company having appropriately forecasted market dynamics, its financial reports for the first quarter of 2021 were in line with its expectations. While the data center business reported minor softening, the stellar recovery seen by the telecom market more than made up for it, as did the continued strength of the company’s CATV business. The quarter culminated with a significant backlog of CATV products, which the company expects to facilitate the driving of growth in the second quarter of 2021.

    Financial Improvement

    GAAP revenue for the first quarter of 2021 was reported at USD$49.7, up from the USD$40.5 reported for the first quarter of 2020. The previous quarter reported GAAP revenue in the amount of USD$52.3. GAAP gross margin was up to 21.6% for the quarter, up from the 15.7% reported in the prior-year quarter. Non-GAAP gross margin was up to 24.6% from the 19.5% reported for the first quarter of 2020, down from 27.5% in the prior quarter.

    GAAP Net Loss

    AAOI reported GAAP net loss in the amount of USD$15.6 million for the 2021 quarter, representing a net loss of USD$0.59 per basic share. This is an improvement from the USD$16.8 million net loss reported for the prior year quarter, representing a net loss of USD$0.83 per basic share for Q1 2020. However, this is still up from the USD$13.4 million reported for Q4 2020, coming out to USD$0.57 per basic share.

    Trajectory of Success

    The company anticipates revenues for the second quarter of 2021 to be in the range of USD$51 million and USD$56 million. Based on market dynamics, non-GAAP gross margin is expected to be in the range of 25.5% and 27.5%. Non-GAAP net loss is forecasted to be in the range of USD$3.8 million to USD$5.6 million, representing a loss per share of USD$0.14 to USD$0.2, based on roughly 27.2 million shares.

    Future Outlook for AAOI

    With the pandemic continuing to rage on despite accelerated global efforts towards universal immunizations, AAOI’s investors are looking to the company for strategic decisions or changes in fundamentals to address the persisting adverse market environment. The company is keen to allocate resources towards facilitating meeting its guidance for the second quarter of 2021.