Category: Mid Day Movers

Shares of the XpresSpa Group, Inc. (XSPA) stock rallied in the intraday trading after it announced the stock repurchase program. XSPA stock price saw a push of 4.21% to reach $1.85 a share at the time of this writing. The trading volume as of now was 2,170,315. XpresSpa Group, Inc is operating as a health and wellness service company that provides spa services at airports. Let’s take a close look at recent events of this stock.

Stock Repurchase Program:

XSPA’s board of directors has given consent for the stock repurchase program of up to 15 million shares of its outstanding common stock. There is no specific option for share repurchase as it can be on the open market or through the privately negotiated transaction. The factor including securities law limitations, cash flow requirements, and market condition will determine the timing and amount of future repurchases. Repurchases will continue until the acquisition of all the authorized shares or until repurchase authorization expires. The authorization will expire on September 15, 2022. The board of directors may suspend, extend or modify the authorization at any time.

Financial View of XSPA stock:

• In the second quarter ended June 30, 2021, XSPA stock generated $9.1 million in revenue as compared to $143,000 in Q2,2020.
• XpresSpa stock recorded $7.7 million from the cost of sales in the second quarter of 2021. This compares to $978,000 in the same tenure of the previous year.
• Gross profit improved to $1.4 million in the recently reported quarter from $835,00 in the prior year same quarter. The high revenue resulted in increased gross profit
• XpresSpa stock spent $4.6 million in general and administrative expenses in the recently reported quarter. These expenses in the same tenure as the previous year were $3.4 million.
• XSPA stock suffered a net loss attributable to common shareholders of $4.5 million. This represents a significant decrease as compared to $58.1 million net loss attributable to common shareholders in the prior-year same period.
• Loss from operations declined from $58.5 million in Q2,2020 to $4.7 million in Q2, 2021.

Balance Sheet of XSPA stock:

By the end of June 2021, XpresSpa had $102.5 million in cash and cash equivalents, excluding restricted cash. Total current assets and total current liabilities were $107.6 million and $18.6 million respectively.

Wrap Up:

Investors are responding positively to the announcement of the stock repurchase program by XSPA stock. The stock gained 55.40% year to date and its average price target is $3.50.

Lightning eMotors, Inc. (ZEV), a company designing, manufacturing, and selling Electric Vehicles (EVs), has gained 6.59% in the regular trading session. As a result of that, ZEV stock changing hands at $9.22.

Partnership with Collin’s Bus

ZEV stock has surged in current market session due to the fact that hours ago, the company announced that it is entering in a strategic partnership with Collins bus to manufacture and deploy zero-emission, all electric Type A school buses. Collins bus is considered to be the market leader in the Type A school bus manufacture. During last 50 years, the company has deployed more than 70,000 buses in US and Canada. The buses would be all electric, and besides, would feature NMC batteries within them. These vehicles would have a gross vehicle weight of 14,500 pounds and would be able to support both Level 2 AC charging and Level 3 DC Fast Charging. The vehicles would also have V2G capabilities. Numerous other features would also be a part of these. Tim Reeser, CEO of Lightning eMotors said on the occasion that Collins’ leadership could be a strong catalyst for the market to move to all electric and together, both the companies could bring zero-emission school buses to each and every neighbourhood.

Investigations against ZEV Stock

In recent days, numerous law firms have been investigating the allegations of securities fraud against ZEV. They include Pomerantz, Bronstein, Gewirtz and Grossman LLC, Glancy Prongay & Murray LLP etc. The investigations revolve around the alleged violation of federal securities law by the company and its officers/directors. On 16^th of August, the company announced the quarterly financial, which depicted a net loss of $0.79 per share. The Company also pulled its full year financial guidance for the remainder of 2021 and that came just days after the announcement that company was entering in a multi-year agreement with Forest River. Once that news came out, ZEV stock price fell 16.93%, stimulating law firms to begin investigations.

Financial results for Q2 and 1^st Half of 2021

On 16^th of August, ZEV released the quarterly results for second quarter of fiscal year 2021, as well as the results for six month period of 2021, ended 30^th June. According to the details, the company posted revenue of $5.9 million, an increase of 580% when compared with the equivalent period of 2020. The gross loss was $1.1 million during the quarter, as compared to the $0.6 million during the equivalent quarter of 2020. The operating expenses were $16.8 million, as compared to $2.2 million during equivalent period of 2020. The net loss was $46.1 million, as compared to the net loss of $2.8 million during the equivalent period of 2020. The revenues for six month period stood at $10.5 million. The gross loss was $1.9 million. The operating expenses stood at $21.3 million, while the net loss was $73.5 million.

What lies ahead for ZEV stock?

Estimates have put the revenue target for ZEV for next fiscal year at $205.03 million. The company is expected to grow by some 83% during 2022. Besides, the company’s EPS is expected to increase by a prodigious 92.20% during current fiscal. All of these statistics point toward a positive future outlook for ZEV stock.

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

Promising Financial Reports

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

DSPG Stock Acquired by Synaptics

August 30^th, 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.

Bridgeline Digital, Inc. (BLIN) stock rallied in the intraday trading following the announcement of heavy investment in BigCommerce Partnership. BLIN stock saw a push of 17.20% to reach $5.70 a share at the time of this writing. As of this writing, the trading volume was 5,126,083. Bridgeline Digital stock is operating as a digital engagement company in the United States.  Let’s take a closer look at recent events of this stock.

What’s Happening?

BLIN stock today announced that they are making heavy investments in their Hawksearch BigCommerce Integration. The purpose behind this is to expand the Bridgeline Digital offering for BigCommerce users. With more than thirty BigCommerce Hawksearch implementations, BLIN stock has invested in dedicated Partner Resource. Furthermore, it invested in the development of new features to build growth for the platform in terms of the user base.

Hawksearch is an AI-based personalization, search, and recommendation application. It optimizes the online buying experience for both B2C and B2C. BLIN stock development team has integrated WooRank’s suite of SEO tools for increased traffic and revenue for Hawksearch’s BigCommerce user-base.

Previous news of BLIN stock:

Last week, BLIN stock did announce that five industry-leading manufacturing companies have selected Hawksearch software for their eCommerce sites. These companies expect that Hawksearch software will increase traffic as well as conversions on their sites. The companies signed the contracts for the deployment of Hawksearch software and service across their B2B eCommerce sites globally. The total worth of these contracts reached approximately $300,000. Hawksearch ability to quickly translates units of measure and easy identification of part numbers makes it ideal for manufactures.

Financial View of BLIN stock:

According to BLIN stock’s third-quarter fiscal 2021 financial results,

• Total revenue increased from $2.6 million in the same prior-year period to $3.4 million in the quarter ended June 30, 2021.
• Gross profit for the BLIN reached USD 2.3 million for the recently reported quarter, 45% up from the prior year same quarter.
• Cost of revenue increased by $1.1 million from prior-year same quarter to reach $1.2 million in the reported quarter
• Bridgeline stock spent $2.9 million in operating expenses in the third quarter of fiscal 2021.

Conclusion:

Investors are responding positively to the recent announcement of heavy investment in BigCommerce Partnership by Bridgeline stock. Recent financial results reflect positive growth in terms of revenue and gross profit.

Oragenics, Inc. (OGEN) stock rose today after it announced the recent update of SARS-CoV-2 Spike Protein. OGEN stock became green and saw a push of 6.39% to reach $0.72 a share at the time of this writing. The stock was gloomy in the previous trade and went down by 2.67% at closing. Let’s deep dive to explore the recent events in detail.

What’s Happening?

Oragenics, Inc. is the developer of therapeutics to treat infectious diseases in the United States of America. The stock recently announced the new data of its SARS-CoV-2 stabilized pre-fusion spike protein trimer. OGEN stock’s Canadian collaborator has developed this protein and the National Institutes of Health licensed it. The protein when administrated with several novel intramuscular (IM) and intranasal (IN) adjuvants, generated neutralizing antibodies in mice after immunization against SARS-CoV-2.  The expression platform will soon evaluate hybrid SARS-CoV-2 antigen candidates in a hamster viral challenge study.  The mouse immunogenicity study has enabled the study team to down select its four tested adjuvant candidates so far.

OGEN stock Postpones Shareholders Annual Meeting:

Last week Oragenics announced that its reconvened shareholder’s meeting on August 23, 2021, was postponed due to lack of quorum. OGEN stock is intending to get shareholders’ approvals for its submitted proposal. The company will announce the new date of the annual meeting.

OGEN stock Enters Licensing Agreement with National Research Council of Canada:

Oragenics stock signed licensing agreement with the National Research Council (NRC) of Canada In the last week of July 2021. This agreement will help OGEN stock for the speedy development of next-generation vaccines against the SARS-CoV-2 virus and its variants. The NRC technologies along with the U.S. National Institutes of Health have provided the platform to OGEN stock for high-yield cell production of spike protein antigens. According to the report, the platform will ensure cell line production within 6 to 8 weeks of spike gene sequence availability. This compares to the traditional cell line production period of six to nine months.

Conclusion:

OGEN stock became green after the recent announcement as investors are responding positively in the stock market. The stock has now positioned itself well but it would be interesting to see how long this bullish trend persists.

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

PHUN Stock Launches PhunCoin

August 27^th 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.

VMware Inc. (VMW) stock prices were down by 8.30% some time after market trading commenced on August 27^th, 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.

Chembio Diagnostics, Inc. (CEMI) stock soared in the intraday session today after it announced the launch of Commercial Distribution of Third-Party COVID-19 Antigen Assay. CEMI stock saw a surge of 17.16% to reach $3.15 a share at the time of this writing. The stock was gloomy in the previous trading session and went down by 0.74% at closing. Let’s dig in to explore more of it.

What’s Happening?

Chembio stock operates via manufacturing and commercializing of point of care diagnostics tests for the detection and diagnostic of diseases.  The main tests which this stock is offering are COVID-19, HIV and Syphilis, and Zika virus. CEMI stock launched the commercial distribution of an FDA Emergency Use Authorized, patent-pending, rapid point-of-care COVID-19 antigen test. The purpose behind this launch is its use in decentralized and traditional testing settings. The newly launched product is available for the customers of Chembio in the United States.

InBios International, Inc has manufactured SCoV-2 Ag Detect™ Rapid Test. It is the fast immunoassay test that has a CLIA waiver certificate and is permissible for use in laboratories. This test does not require any instrumentation and gives results in 20 minutes from a nasal swab. COVID-19 patients suspected by their healthcare provider within 5 days of symptom appearance can go through this test.  More this test can be performed for asymptotic serial testing.

Financial View of CEMI stock:

Chembio stock on August 05, 2021, did announce second-quarter 2021 financial results the highlights of which are given below.

• CEMI stock generated $6.5 million in revenue in the second quarter of 2021.
• CEMI stock reported a $0.1 million gross margin for the second quarter of 2021.
• Chembio spent 46% higher research and development expenses in Q2,2021 as compared to Q2,2020.
• Net loss was $9.1 million, or $0.45 per diluted share in the recently reported quarter.
• By the end of the second quarter, CEMI had $5.6 million in cash and cash equivalents.

Recent Developments of CEMI stock:

In July 2021, CEMI stock received two significant purchase orders. First order it received on July 20, 2021 by the Bio-Manguinhos was worth $28.3 million. The latter ordered DPP SARS-CoV-2 Antigen tests to meet the urgent needs of Brazil for COVID-19. The Second-order it received on July 22, 2021, from Partnership for Supply Chain Management, supported by The Global Fund, was worth $4 million. This order was related to HIV 1/2 STAT-PAK Assays shipment to Ethiopia in early 2022.

Wrap Up:

The recent announcement has made the Chembio stock green today as investors are now responding positively to the CEMI stock. CEMI has gained 16.51% in the last 30 days while lost 36.80% year to date.

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

TAOP Stock Signs MOU

August 27^th, 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 15^th 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.