STOCKS TELEGRAPH

Author: ST Staff

  • Howard Bancorp, Inc. (HBMD) Stock Surges Following Announcement of Strategic Merger with FNB

    Howard Bancorp, Inc. (HBMD) stock prices surged by 28.30% shortly after market trading commenced on July 13th, 2021, bringing the price per share up to USD$20.04 early on in the trading day.

    Merger with FNB

    July 13th, 2021 saw the company announce its signing of a definitive merger agreement that would see FNB acquire Howard Bancorp, including its wholly-owned banking subsidiary, Howard Bank. The all-stock transaction will see each share valued at USD$21.96, coming out to a fully diluted market value of roughly USD$418 million, reflecting the company’s closing stock price as of the market closing on July 12th, 2021.

    Details of Merger

    Based out of Baltimore, Howard boasts roughly USD$2.6 billion in total assets, USD$2 billion in total deposits, and USD$1.9 billion in total loans and leases as of March 31st, 2021. The company operates 13 full-service banking offices spread out across Baltimore and the greater Washington, D.C., area. The strategically significant merger is expected to facilitate the continuation of the company’s growth trajectory, as well as consolidating FNB’s historic presence in the Mid-Atlantic Region.

    Scope of Acquisition

    On a pro-forma basis, the proposed merger is expected to result in FB reporting roughly USD$41 billion in total assets, USD$32 billion in deposits, as well as USD$27 billion in total loans. As per the merger agreement, that has been unanimously approved by both companies’ Boards of Directors, shareholders of HBMD will be entitled to receive 1.8 shares of FNB common stock for each already owned share of Howard’s common stock.

    Consolidated Market Presence

    The exchange ratio is fixed, with the transaction expected to qualify as a tax-free exchange for HBMD’s stockholders. Concurrently with the parent company merger, HBMD will also merge with and into FNB’s subsidiary, First National Bank of Pennsylvania. Cumulatively, the combined entity will boast the sixth-largest deposit share in the Baltimore market, consolidating their strong presence in the market. Furthermore, it will present the companies with the opportunity to deliver an unprecedented experience for its customers, communities, and dedicated teams.

    Future Outlook for HBMD

    Armed with the fortuitous pending merger, the company is poised to capitalize on the expanded scope of opportunities it finds at its disposal. HBMD is keen to leverage its additional resources in a bid to facilitate significant and sustained increases in shareholder value over the long term.

  • Bit Brother Limited (BTB) stock surged in the current trading session; here’s why

    In the current trading session, the latest check indicated that Bit Brother Limited (BTB stock) shares surged by 8.21% to trade at the price of $2.11. BTB stock previously closed the session at $1.95. The BTB stock volume traded 1.67 million shares, and the average daily volume traded for the past 50 days has been 0.68 million shares. In the past year, up-to-date BTB shares have dropped by -71.32% and in the past week, they have moved down by -4.41%. In the past three and six months, the stock has shed -48.68% and added 10.17%. Furthermore, Bit Brothers currently valued in the market at $38.49 million and has 19.74 million outstanding shares.

    About Bit Brother Limited

    Bit Brother limited is a restaurant-based company that specifically focuses on providing specialty tea product distribution as well as food and retail business for its customers. The operations of the company are based in the People’s Republic of China. The company’s product offering related to the beverages consists of various kinds of tea; fruit tea, milk cap tea and fresh milk tea. It also provides savory and light meals options which include sandwiches, steak, burritos, salads as well as healthy options of meals. BTB stock has in its food products, list of confectionaries and bakery items like cakes, bread, frosted pastries. As of June 30, 2020, it worked through four bistros, remembering two lead and two convenience stores for the Hunan area, the People’s Republic of China. The organization was some time ago known as Urban Tea, Inc. also, changed its name to Bit Brother Limited in May 2021. Bit Brother Limited is settled in Changsha, the People’s Republic of China.

    Bit Brother plans to acquire 51% of Angelo’s Pizza for its international expansion

    Bit Brother Limited announced that it has entered an agreement on mutual understanding with Angelo’s Pizza. The agreement is for the acquisition of Angelo’s pizza restaurant chain which includes Angelo’s Pizza 1697 Inc., 1279 1st Avenue LLC, and 60th Street Restaurant Corporation. The acquisition is partial with 51% ownership and the agreement’s nature is a non-binding letter of intent (LOI).

    Bit Brother Limited wants to acquire Angelo’s Pizza due to its 120 years in total strong brand recognition along with par-excellence reviews. Furthermore, Bit Brother Limited is attracted by Angelo’s Pizza’s plans of expansion in the international market which will allow it to have a presence in Canada, Australia, New Zealand, Singapore, China, Japan, and South Korea. This acquisition will then allow these three restaurants to accept bitcoin and another form of cryptocurrency as payment.

    The restaurant company aims to open up 1000 branches overseas and sees itself doing it in the next 5 years. The company is scaling and expanding its business cost-efficiently by providing takeout and delivery services in its overseas branches. It will also have a limited dine-in seating capacity. This is done to incur low rent, build-out and efficient scaling of takeout types of restaurants.

    The 51% equity interest of BTB stock in Angelo’s Pizza is equal to $12.5 million and half of the payment will be paid in cash while the other half will be paid in BTB stock’s ordinary shares.

  • Organigram Holdings Inc. (OGI) Stock on the Rise Following Improved Financials for Q3 2021

    Organigram Holdings Inc. (OGI) stock prices were up 12.83% shortly after the trading day commenced on July 13th, 2021, bringing the price per share up to USD$2.99 early on in the trading day.

    Net Revenue Reports

    Net revenues for the third quarter of fiscal 2021 were up 13% from the prior-year quarter, resulting primarily from higher adult-use recreational net revenue and higher wholesale revenue reported for the 2021 quarter. The third quarter of fiscal 2020 reported a reduction in adult-use recreational net revenue, stemming from a provision for product returns and pricing adjustments in the amount of USD$3 million. This, in turn, was largely motivated by slow-moving oil and certain flower products.

    Gross Revenue

    The same factors contributed to gross revenues for the third quarter of fiscal 2021 also increasing, up 31% as compared to the third quarter of 2020. Cost of sales for the quarter were down from the previous year, with the year-over-year difference being largely attributable to USD$30 million in inventory write-offs and provisions. Further compounding the difference were changes in the workforce in the 2020 quarter, instigated by the onset of the global pandemic.

    Improvements in Gross Margin

    Gross margin for Q3 2021 was up a significant 104% from the negative Q3 2020 gross margin, largely driven by fair value changes to biological assets and the sale of inventory. Net non-cash positive fair value changes to biological assets and inventories sold in the third quarter of 2021, as compared to the negative changes reported for the prior year quarter.

    Solid Liquidity Position

    The company reported a significant year-over-year improvement of 163% in their liquidity position. April 1st 2021 saw the company having repaid the entirety of its outstanding balances, in the amount of almost USD$58.5 million, as per its credit agreement with BMO and a cohort of lenders. This move is expected to save the company USD$2.7 million in annual interest savings. The company currently has a solid liquidity position of USD$222 million in cash and short-term investments.

    Future Outlook for OGI

    Armed with a solid liquidity position and the disclosure of healthy financials, OGI is poised to capitalize on the momentum generated by its success in Q3 2021. Current and potential investors are keen to see the company leverage the resources at its disposal to continue its trajectory of success, in order to usher in long term increases in shareholder value.

  • 36Kr Holdings Inc. (KRKR) stock surged in the current trading session; here’s why

    The current trading session was noted at the last check for 36Kr Holdings Inc. (KRKR stock) shares. The trend was a surge of 0.47% trading at the price of $2.13. The previous session of the KRKR stock had closed at a share price of $2.12. While in the past 50 days, the average daily volume was 0.12 million shares and the KRKR stock volume traded lower than average today at 29832.0 shares. In the past year up-to-date the KRKR shares have plunged by the percentage of -39.94%, and in the past week, the KRKR stock shed -11.67%. In the past three and six months, the stock had shed -32.91% and -39.08% respectively. Furthermore, the company is currently valued in the market at $82.87 million and has 41.17 million outstanding shares.

    What you need to know about 36Kr Holdings Inc.

    36Kr Holdings Inc. is an internet content and information company that specifically focuses on providing its customers business as well as content services. These services are provided to the new economy participants that reside in China and the company also operates its business in the People’s Republic of China. The company creates a platform of content-driven distribution, high-detailed research reports, and cases on companies, market timing updates, as well as editorial and views on various industries. These industries include technology, consumer, retail and healthcare. Furthermore, the company has its business service portfolio diversified by providing value-added services, integrated marketing, offline events, and consulting services all in the form of advertising services. Furthermore, the business model also offers payment through subscription services to individuals, institutional investors and enterprises. KRKR stock was founded in 2010, is based in Beijing, China.

    Collaboration with NIO to host a business-centric podcast on NIO radio

    36Kr announced on 13th July 2021 that China’s pioneer in premium electric car NIO has on-boarded KRKR stock’s company on a collaboration of radio podcasting. The two companies will launch a business-centric podcast run by 36Kr on the NIO radio. NIO radio is operated by the electric vehicle company as an interactive platform for the community.

    The NIO Company has created this platform NIO radio solely for the owners of NIO automobiles and users. The channel is run 24/7. The 36Kr will provide business data and information sharing platform along with Kr-Intelligence will be played on the NIO Radio playlist with a focus on the most recent business patterns, giving clients extensive, top caliber, keen and ideal business, and monetary data through inside and out proficient examination.

    36Kr distributes various adroit insightful reports, convenient market refreshes just as intriguing publications, and critiques each and every day. Moreover, the Company has been extending its substance through broader digital mediums based to furnish clients with customized and expertly created sound content.

    The collaboration between NIO Radio and 36Kr attendants demonstrates an opportunity and platform for vehicle brands and content services to construct sound substance and produce more freedoms for the profound coordination of content creation and administration capacities. The organization is consistently investigating business esteem in the New Economy field by advancing substance designs, co-making content channels, developing top-notch content.

  • Huize Holding Ltd. (HUIZ) Stock on the Rise Following Announcement of Partnership with Sungrow

    Huize Holding Ltd. (HUIZ) stock prices were up by 15.55% shortly after market trading commenced on July 13th, 2021, bringing the price per share up to USD$6.02 early on in the trading day.

    Partnership with Sungrow

    July 13th, 2021 saw the company announce its partnership with Sungrow that will see the collaborative launch of immune cell cryopreservation as a value-added healthcare service offered to eligible insurance customers. Supported by BGI Cell, immune cell cryopreservation technology refers to the use of advanced biotechnology to extract immune cells from a healthy human body. The cells will be preserved at temperatures below negative 196 degrees Celsius, with the dormant cells able to be reactivated in the future. These cells will serve as valuable anti-aging, tissue regeneration, immune regulation, and other disease treatments.

    Complementary Collaboration

    The company is excited to have appointed Sungrow as its third-party administrator as it continues to execute its longer-term strategy of complementing insurance products with more value-added services. The company is keen to maximize the benefits to its users from the building of a more integrated insurance ecosystem.

    Scope of Collaboration

    The company has been offering high-quality insurance products with value-added services, such as increased accessibility of cancer screening and online medical consultation, in an effort to satisfy the growing user demand for diversified healthcare services since the beginning of the year. HUIZ believes these services over the course of the policy will result in increases in the core competitiveness of the platform within the marketplace, as well as facilitating the creation of longer-term engagements with users, thus maximizing their lifetime value.

    Healthy Financials

    The company reported a combined balance of USD$76 million in cash and cash equivalents as of March 31st, 2021. Net Profit for the first quarter of 2021 was up to USD$4.4 million from the USD$0.36 million in net loss reported for the prior-year quarter. Non-GAAP net profit for the 2021 quarter came in at USD$5.9 million, up from the USD$3.43 million reported for the first quarter of 2020.

    Future Outlook for HUIZ

    Armed with an expansive partnership with Sungrow, HUIZ is poised to capitalize on the opportunities afforded to it as it strives towards the proliferation of its technology throughout the global healthcare space. Current and potential investors are hopeful that the partnership will result in significant and sustained increases in shareholder value over the long term.

  • Why Is IMTE Stock Falling Today?

    Stocks of Integrated Media Technology Limited (IMTE) fell 6.55% in premarket trading this morning to trade at $4.71. The Integrated Media stock closed at $5.04 on Monday, up 24.75%. IMTE stock traded 16.67 million shares on Monday, below the 0.95 million share averages published daily for the last 50 days.

    In the last five days, IMTE shares have advanced 23.83%; however, they have gained 4.13% in the last month. IMTE stock has gained 29.23 percent so far this year, adding 4.56% over the previous three months. A recent development might give more insight into the IMTE stock since its stock is on a downbeat in the absence of recent news.

    Are there any recent developments at IMTE?

    Glasses-free 3D is also known as autostereoscopic 3D and is a solution available from Australian company IMTE. Aside from manufacturing and selling nanocoated glass and filters, IMTE is also engaged in financial research businesses.

    Integrated Media has entered into three (3) Securities Purchase Agreements with accredited investors in recent weeks.

    • IMTE agreed to sell 888,888 ordinary shares of the company’s ordinary shares with no par value, at a price of close to US$3.15 per share.
    • A total of US$2,800,000.00 was raised through Cash Offerings by IMTE.
    • The net cash proceeds of the Cash Offerings were to be used for working capital and equipment purchases for IMTE’s electronic glass business.
    • According to Mr. Con Unerkov, Chairman of IMTE, the offering will strengthen IMTE’s capital base and assist in furthering IMTE’s electronic glass sales.
    • The Offering will be made in compliance with IMTE’s shelf registration statement on Form F-3, which was filed with the Securities and Exchange Commission (“SEC”) on October 9, 2018 and became effective on October 19, 2018.
    • IMTE is offering Ordinary Shares by means of a prospectus supplement only in the United States.
    • As part of the registered direct offering, a prospectus supplement and accompanying prospectus were filed with the SEC on July 7, 2021.
    • On the website of the SEC, the prospectus and prospectus supplement relating to the registered direct offering were made available by IMTE.

    IMTE’s recent offering:

    Integrated Media (IMTE) has recently completed its previously announced direct offering of 708,000 ordinary shares of the Company in March this year. The offering price was USD6.50 per IMTE share with a total offering amount of USD4,602,000.

    In the event of the Cash Offering, IMTE received approximately US$4,577,000 in net cash proceeds after deducting estimated expenses incurred during the offering. As part of its plans to establish a strong balance sheet, IMTE wanted to use the net cash proceeds to expand its switchable glass, nano-coated filter, and financial research businesses.

  • Auddia Inc. (AUUD) stock surged in the premarket trading session; find out why this happened

    It was observed in the premarket trading session that Auddia Inc. (AUUD) stock shares had surged by a percentage of 2.82% to trade at the price $5.11 at the last check. AUUD stock had closed the previous session on Tuesday with a loss of -7.45% at $4.97. The AUUD stock volume had traded 3.2 million shares. We see that in the past week AUUD shares have moved down by -33.02%. The AUUD stock in the past three months has shown a gain of approximately 67.91%. Further, the company Auddia Inc. is currently valued in the market at $58.10 million and Auddia has a total of outstanding shares that stand at 11.29 million.

    All you need to know about Auddia Inc.

    Auddia Inc. is a SaaS company that specifically focuses on the production and development of software products that are for clients in the audio and podcast market. The company serves its market through its main flagship component and product offering known as Auddia. What Auddia enables is a subscription service for users of a mobile applications that will allow them to watch and stream their favorite FM/AM stations without any commercials The company has an interactive platform which is dedicated for podcasting and application known as the Vodacast along with its management system known as the Vodacast Hub. The company was previously known as Clip Interactive up till November 2019 and was originated in the year 2012. The headquarter of the company exists in Boulder, Colorado.

    The company is finally ready to release its Vodacast Hub for podcasters

    The company announced on 12th July 2021, that it is releasing the Vodacast Hub which is the management system for AUUD’s AI based podcasting platform. Vodacast is being focused as an interactive platform for the podcasts that will allow digital content creators to easily process the audio content of their work and integrate it with the digital content they feel like goes with their audio content.

    The launch of the hub takes the initiative of Vodafone to the next level by providing the users various new monetization models through which the podcasters can generate revenue from their content feed as well as will have a new content feature for podcast listeners.

    The Vodacast Hub changes the worldview, giving podcasters a simple to utilize computerized content administration framework giving makers the capacity to convey reward content to their audience members like any multimedia and digital content that content creators believe corresponds straightforwardly to the sound substance or subject of the digital broadcast. Practically all podcasters uncover intriguing advanced substance when they research their shows. Today, this substance goes to a great extent unused on the grounds that there is no stage that effectively allows makers to tag and post this substance in an intuitive computerized feed for helpful utilization by their audience members while they tune in or later as a source of perspective. Posting this substance in an advanced feed attached to the web recording sound permits podcasters to tell further, additional intriguing stories and for purchasers to have a more intelligent and vivid listening experience.

  • What Is Driving The AHT Stock Higher In Premarket Trades?

    Shares of Ashford Hospitality Trust Inc. (AHT) were up 1.81% at $2.25 as of the last pre-market check. Ashford Trust stock closed last session at $2.21, down -4.74% or $0.11. AHT stock traded between $2.19 and $2.44 during the recent session. Shares of AHT stock exchanged hands for a total of 22.37 million, less than the company’s 50-day daily volume of 42.58 million and on par with its year-to-date volume of 22.49 million shares.

    AHT stock has slipped -65.14% in the past year and decreased -6.75% in the last quarter. In the last six months, AHT stock has decreased by -6.75 percent, and in the last week by -44.19%. There is a possibility that recent developments regarding the AHT will provide additional information about the stock since the AHT stock rose when there was no recent news.

    Have there been any recent developments at AHT?

    The Ashford Trust is a real estate investment trust (REIT) specializing in the ownership of upper upscale, full-service hotels.

    According to Ashford Trust’s preliminary RevPAR for June 2021, the figure was approximately $91.27.

    • AHT’s current RevPAR is an increase of 256% as compared to June 2020 and a decline of 37% as compared to June 2019.
    • Based on AHT’s RevPAR of $75.66 for May 2021, this represents an approximate increase of 414% over May 2020 and a decline of 47% over May 2019.
    • The RevPAR reported by AHT represents an approximate increase of 624% compared to its April 2020 RevPAR, and a decline of 53% compared to its $67.52 RevPAR for April 2021.
    • The RevPAR for all properties in AHT’s portfolio should increase by a maximum of 372% in 2021 compared to 2020 and will drop by a maximum of 46% compared to 2019.
    • Pent-up leisure demand explains the improved preliminary RevPAR results for the second quarter.
    • In addition to its geographically diverse portfolio of properties, with a large portion of its business coming from transient leisure clients, AHT believes it is well-positioned to take advantage of the recovery trends.

    AHT will undertake a reverse split:

    The Ashford Trust (AHT) Board of Directors also unanimously approved this month a reverse stock split at a ratio of 1-for-10. The Company’s common stock will be automatically converted into 1/10th of a share of AHT’s common stock upon the reverse stock splits effective date.

    On July 19, 2021, AHT’s stock will begin trading on the New York Stock Exchange on the split-adjusted basis, and the reverse stock split will become effective as of business close on July 16, 2021. AHT’s Board of Directors approved the foregoing actions in accordance with Maryland General Corporation Law, so stockholder approval was not necessary.

  • Orbsat Corp. (OSAT) Stock Skyrockets Following Announcement of Partnership with Alibaba.com

    Orbsat Corp. (OSAT) stock prices were down by 5.39% at the end of July 12th, 2021, bringing the price per share down to USD$6.67. Subsequent premarket fluctuations have seen the stock surge by 77.06%, bringing it up to USD$11.81.

    Partnership with Alibaba

    The company announced on July 13th, 2021 that its Global Telesat Communications (GTC) unit had entered into an agreement with Alibaba.com. The B2B e-commerce website owned by the Chinese multinational technology company, Alibaba Group, specializes in e-commerce, retail, internet, and technology. Making use of the world’s largest B2B e-commerce website, Alibaba.com, GTC will be a Gold-Supplier. Alibaba.com boasts a network of global active business partners of more than 26 million, which serve customers across 190 countries in 19 different languages. The company receives over 340,000 product inquiries and 20,000 RFQs on a daily basis.

    Details of Collaboration

    Having been designated the highest level on Alibaba.com, OSAT finds itself in the most trusted seller category, which significantly expands the scope of its around-the-clock e-commerce presence with the launch of its latest global storefront. The company anticipates launching the new storefront during the third quarter of 2021, made possible by an extensive range of satellite IoT and connectivity products.

    OSAT Product Portfolio

    Among these products are the company’s specialized satellite tracking products, some of which are operated with the use of OSAT’s numerous ground station-based network processors. These can be used to track and monitor the location of a myriad of remote assets, including, but not limited to, cars, trucks, trailers, boats, containers, and animals. The company’s catalog of more than 500 products and connectivity services is set to be available on Alibaba.com by the start of the first quarter of 2022.

    Scope of Partnership

    The onset of the global pandemic and the ensuing closures and social restrictions has resulted in an explosion in online shopping, with e-commerce gaining unprecedented traction. The company is confident that e-commerce is the way of the future and is poised to consolidate its online presence with the recent partnership. Furthering this strategy, OSAT intends to secure new integration alliances, including joint commerce structures with additional connectivity partners.

    Future Outlook for OSAT

    Armed with the potentially massively profitable partnership, OSAT is keen to continue to allocate resources towards adapting to a pandemic and post-pandemic economy. Investors are hopeful that the company will effectively consolidate and expand its market footprint in successful efforts to facilitate significant and sustained increases in shareholder value.

  • Is JAGX Stock Up Premarket For A Reason?

    During pre-market trading on Tuesday, Jaguar Health Inc. (JAGX) climbed 2.55% to $1.61. The Jaguar Health stock finished the last trading session down -4.85% at $1.57. The price range for JAGX stock was between $1.55 and $1.65. During the past 100 days, JAGX stock traded 3.33 million shares daily but the volume of 11.44 million shares traded in the last session was much higher than that. In the past five days, JAGX shares have gained 3.29%, but have lost -17.80% over a month. We can use recent developments to provide a deeper understanding of the company as JAGX stock rose despite no current news.

    What is the latest from JAGX?

    As a commercial stage pharmaceuticals company, Jaguar Health aims to develop plant-based, non-opiod, and sustainably-derived prescription medications that are safe and effective for people and animals with GI distress, especially chronic, debilitating diarrhea. JAGX’s wholly-owned subsidiary, Napo Pharmaceuticals, Inc., is focused on the development and commercialization of plants harvested from rainforest areas for use in gastrointestinal pharmaceuticals.

    As the only oral plant-based prescription medicine approved under FDA Botanical Guidance, the Mytesi product developed by JAGX provides symptomatic relief of noninfectious diarrhea associated with HIV/AIDS in adults on antiretroviral therapy. The Napo EU S.p.A. subsidiary of Napo Pharmaceuticals aims to expand access to crofelemer in Europe.

    For the third time, Jaguar Health’s annual shareholders’ meeting on May 13 has been adjourned due to a lack of quorum.

    • Hence, the adjourned meeting of JAGX will now be held on August 6, 2021.
    • JAGX will hold its annual meeting at its San Francisco office.
    • The record date used to determine which JAGX stockholders will be eligible for the Annual Meeting was April 12, 2021.
    • The proposals have been generally well received by JAGX stockholders.
    • A JAGX stockholder who does not intend to revoke or change his or her previously delivered proxy is not required to take any action.
    • During the annual meeting, JAGX encouraged its eligible stockholders who still have not voted their shares / provided voting instructions to their broker / other record holder to do so.
    • The company counted on their participation as to reach quorum, JAGX still needs to receive votes from 2.9% of its eligible common stockholders.

    How can JAGX shareholders vote?

    There are several voting options available to Jaguar Health (JAGX) shareholders. Shareholders of JAGX can vote by internet at http://www.voteproxy.com or by phoning 800-776-9437 24 hours a day or submitting a proxy card properly executed. The street name holders of JAGX stock have the option of voting via their broker. In the process of preparing the proposals for stockholders to vote on at the Annual Meeting, JAGX has not made any changes.