STOCKS TELEGRAPH

Category: Mid Day Movers

  • Medigus Ltd. (MDGS) Stock on a Surge Today, Here’s Why

    Medigus Ltd. (MDGS) Stock on a Surge Today, Here’s Why

    Medigus Ltd. (MDGS), a medical device company, has experienced an increase of 0.68% in the current market trading session. As a result of that, MDGS stock currently stands at $1.49. On Thursday, MDGS stock saw a decline of 3.27%, and as a result of that, the share price stood at $1.48.

    Pre-clinical data presentation

    Today, MDGS announced that Polyrizon Ltd., a privately held company, in which, MDGS has a share capital of 35.86%, has presented the pre-clinical data. The data shows that Company’s Capture and Contain (C&C™) platform technology has the capability to could lessen Influenza virus H1N1 risk. Besides, it also has the tendency to treat COVID viruses.

    Demonstration of EV charging robot

    On the 30th of July, MDGS stock rose 5.62% after the company announced that its wholly owned subsidiary, Charging Robotics Ltd., has successfully demonstrated the capability of its Electric Vehicle (EV) charging robot, and thereby, has concluded the proof of concept. Charging Robotics is trying to provide the EV’s with efficient battery charging. The process depicted an efficiency of 93% with regards to charging at 1 kW power. After the success of operation, Charging Robotics intended enhancement in power. The company wants power to be increased from 1kW to about 13 kW.

    Buyback program promotion by MDGS BoD

    On the 26th of July, MDGS stock suffered a decrease of 9.38% after the announcement by the company that its Board of Directors had authorized the company to promote a buyback program of $2 million for the company’s ADRs. It was expected that the company would approve the buyback program in relation to the approval of its 6 months of fiscal 2021 financial statements, which ended on 30th June.

    Agreement with Automax

    On the 17th of July, MDGS announced that Charging Robotics Ltd. had signed a definitive distribution agreement with Automax Motors Ltd. The agreement was intended to provide Automax with an opportunity to distribute its wireless robotic charging pad in Israel and Greece. The distribution had to take place over a course of 5 years period. Once MDGS develops the robotic charging pads, Automax had to market them. Automax had to pay Charging Robotics a one-time payment of $50,000 under the agreement, for its appointment as the sole distributor in Greece and Israel.

    MDGS fiscal 2020 financial results

    On the 17th of May, MDGS announced the annual financial results for the fiscal year 2020, which ended on 31st December 2020. According to the details, the company had generated revenue of $0.53 million from products and services during the year, an increase of 95% when compared with the stats for the previous fiscal. The revenue was generally derived from the sales of a miniature cameras and related equipment. The company ended the year with a net loss of $6.85 million, a decrease of 52% when compared with the results of the previous fiscal year. The cash and cash equivalents were $22.36 million on 31st December 2020, as compared to $7.04 million on 31st December 2019.

    What’s ahead for MDGS?

    Recent performances have indicated the strength of MDGS stock. The stock has gained 6.47% during last year. With the effects of COVID subsiding and governments around the world softening the restrictions, it is hoped that MDGS stock would continue its rally in future times as well.

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

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

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

    Share Repurchase Program

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

    Potential of MPLN Stock’s Program

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

    Funding Repurchasing Program

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

    Future Outlook for MPLN Stock

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

  • NRX Pharmaceuticals Inc. (NRXP) Stock Surges Following Collaboration with Cardinal Health

    NRX Pharmaceuticals Inc. (NRXP) Stock Surges Following Collaboration with Cardinal Health

    NRX Pharmaceuticals Inc. (NRXP) stock prices soared 9.37% as of the market closing on August 26th, 2021. This brought the price per share to USD$14.12.

    NXRP Stock’s Collaboration

    August 26th, 2021 saw NRXP stock announce the signing of an agreement with Cardinal Health. The agreement will see the facilitation of the provision of third-party logistics and distribution of ZYESAMI. This is pending the potential Emergency Use Authorization (EUA) approval by the United States Food and Drug Administration. May 2021 saw the company submit an application for EUA to the FDA for their proprietary treatment for patients suffering from Critical Covid-19 with respiratory failure.

    Focus of NXRP Stock’s Partnership

    The strategic collaboration creates an efficient and highly flexible logistics and distribution model for NRXP stock. The partnering company’s expertise will allow the treatment to be delivered to patients in intensive care units in a rapid fashion. This is essential as the limiting of time to treatment is crucial. The partnership also allows for the company to continue focusing on responding to requests from the FDA in regard to the company’s EUA application for ZYESAMI.

    About NRXP Stock’s Partner

    Cardinal Health Specialty Pharmaceutical Distribution will be the exclusive distributor for ZYESAMI, facilitating the provision of wide access to hospitals for the much needed treatment. Cardinal Health has access to one of the largest healthcare supply chains, servicing more than 90% of the hospitals in the United States. The company has more than two decades of supporting the rapid delivery of life-saving medicines. Furthermore, the partnering company’s Third-Party Logistics Services will support warehousing and distribution, as well as full order to cash, and necessary title model services.

    Addressing the Global Pandemic

    The ongoing impact of the global coronavirus pandemic requires the proliferation of more innovative, effective, and FDA-approved therapies for critically-ill patients suffering from respiratory failure. The partnering company continues to allocate resources towards ensuring Covid-19 patients get access to treatment in a timely and efficient manner.

    Future Outlook for NRXP Stock

    With the world hurtling towards universal immunizations, NRXP stock is poised to capitalize on the scope of opportunities presented to it. The company is keen to leverage the resources at its disposal to facilitate the accelerated proliferation of its flagship treatment. Investors are hopeful that management will be able to usher in organic growth over the long term.

  • Shoe Carnival Inc. (SCVL) Stock Exhibits Minor Volatility Following Disclosure of Financial Reports for Q2 2021

    Shoe Carnival Inc. (SCVL) stock prices were down by 6.20% shortly after market trading commenced on August 25th, 2021. This brought the price per share down to USD$37.83 early on in the trading day.

    SCVL Stock’s Net Sales Reports

    The second quarter of fiscal 2021 saw the company report net sales in the amount of USD$332.2 million. This represents a 10.5% increase from the USD$300.8 million reported in the prior-year quarter. This year-over-year difference was largely driven by continued broad-based demand for SCVL stock’s product offerings, as well as a more normalized start to the back-to-school season. Further driving the yearly increase were improved macroeconomic factors in the U.S and the easing of restrictions related to the Covid-19 pandemic.

    SCVL Stock’s Gross Profit Reports

    Gross profit margin for the second quarter of fiscal 2021 reported a 13.4 percentage point increase to 40.9. This is comparable to the 27.5% reported in the second quarter of the prior fiscal year. The merchandising margin was up 13.3 percentage points, reflecting the strengthening of consumer demand for product offerings. This resulted in the need for less promotional activity as compared to the prior-year quarter. Buying, distribution, and occupancy expenses declined slightly as a percentage of net sales as compared to the prior-year quarter. This was due to higher freight and distribution labor costs substantially offsetting the leveraging effect of higher sales.

    SG&A Expenses

    Selling, general, and administrative costs were up to USD$76 million for the second quarter of fiscal 2021. SG&A expenses were up 0.2 percentage points to 22.9% of net sales. This increase reflects the correlation of SG&A costs with the company’s continued record performance, with store level wages and incentive compensation comprising a majority of the increase.

    Net Income Reports

    SCVL stock reported net income in the amount of USD$44.2 million for the second quarter of fiscal 2021. This represents a net income of USD$1.54 per diluted share. This is comparable to the USD$10.1 million in net income reported for the second quarter of fiscal 2020. This represented a net income of USD$0.35 per diluted share.

    Future Outlook for SCVL Stock

    The company reported a strong financial quarter, rife with various developments that result in an expanded scope of opportunities for SCVL stock. The company is keen to leverage the resources at its disposal to facilitate organic growth over the long term. Current and potential investors are hopeful that management will be able to facilitate consistent increases in shareholder value.

  • Here’s why Jiayin Group Inc. (JFIN) stock is Popping High today

    Shares of Jiayin Group Inc. (JFIN) stock popped high in pre-market following the release of second-quarter 2021 financial results. JFIN stock price saw a surge of 15.4% to reach $4.53 a share as of this writing. The trading volume as of now was 5,678,338, much higher than the average trading volume.

    Second Quarter 2021 Financial Results:

    • Jiayin stock generated RMB492.2 million net revenue in the second quarter of 2021. Net revenue significantly increased by 100.9% as compared to the same tenure of the previous year. Revenue from loan facilitation services was RMB453.7 million while nil from post-origination services. JFIN reported RMB38.5 million from other revenues.
    • JFIN stock spent RMB174.2 million in sales and marketing expenses in the reported quarter. These expenses increased by 169.7% as compared to the prior year same quarter.
    • General and administrative expenses for the JFIN stock declined by 3.8% to drop at RMB35.2 million from the prior year same quarter. Research and development expenses decreased by 6.5% compared to Q2,2020 to drop at RMB31.9 million.
    • JFIN stock reported RMB126.8 million in net income as compared to RMB41.1 million net income in Q2,2020. Income from operations reached RMB149.6 million as compared to RMB48.0 million in Q2,2020.

    Operational highlights of JFIN stock:

    • Jiayin stock reported that its loan origination volume was  RMB5,663 million for the three months ended June 30, 2021. This represents a 153.0% increase from the prior year same quarter.
    • The average borrowing amount of RMB5,993 per borrower decreased by 14.2% from the same tenure of the previous year.
    • The repeat borrowing rate in the three months ended June 30, 2021, was 72.4%. While previous year same quarter’s repeat borrowing rate was 72.0%.

    Overall Progress of JFIN stock:

    The financial results reflect the positive progress of JFIN stock over the year. The stock has improved its operational efficiency and enjoyed considerable profitability. Net income almost tripled in the reported quarter compared to the previous year. The stock is anticipating broadening its partnerships in order to diversify its funding resources.

    Conclusion:

    Investors are responding positively to the JFIN second quarter 2021 financial results. The management is striving hard to diversify its business and improving its asset quality. In a nutshell, this stock can be a good bet for investors in the long run.

  • Lipocine Inc. (LPCN) stock is falling today: Here’s Why.

    Shares of Lipocine Inc. (LPCN) were declining in intraday trading session despite the release update of LiFT clinical study. LPCN stock price saw a decline of 0.71% to drop at $1.40 a share at the time of this writing. The stock was green in the previous trading session and went high by 0.71% at closing. Let’s dig in to understand the recent events.

    LiFT Clinical Study:

    An Overview:

    LPCN stock today released 36-week positive topline results of its phase 2 proof of concept LiFT study. For individual who do not know LiFT, it is acronym of Liver Fat intervention with oral Testosterone. The study investigated LPCN 1144 in men with suffering from NASH. NASH is the major cause of liver failure and liver transplantation across the globe and unfortunately, there is no approved treatment of it.

    Male subjects with confirmed hypogonadal or eugonadal NASH having F1-F3 fibrosis stage and NAFLD Activity Score ≥ 4 participated in the study.  The treatment period was 36 weeks and study team, divided the subjects in three arms with varying daily dose. The primary end point was change in hepatic fat fraction through MRI-PDFF after 12-week treatment. The secondary end point was to analyze the histological change for NASH resolution along with fibrosis improvement.

    Results:

    Liver fat reduced significantly after 12 weeks treatment with LPCN 1144. The study team observed liver fat reduction relatively by 46.8% and mean absolute reduction was 9.2%. The study team performed Liver biopsies of patients after 36 weeks of study. Treatments with LPCN 1144 showed statistical significant results and met regulatory approval of endpoint of NASH resolution. Overall safety profile showed well tolerance of LPCN 1144 as compared to placebo.

    Financial View of LPCN stock:

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

    • Lipocine stock suffered a net loss of $6.8 million, or ($0.08) per diluted share in the second quarter of 2021.
    • LPCN spent $1.5 million in research and development expenses , lower than $2.3 million in Q2,2020.
    • General and administrative expenses for the LPCN stock lowered to $1.5 million in Q2,2021 from $2.0 million in Q2,2020.

    Balance Sheet of LPCN stock:

    By the end of second quarter, LPCN stock had $46.6 million in unrestricted cash, cash equivalents, and marketable investments.

    Wrap Up:

    Positive topline efficacy results of LiFT study is the positive sign for the LPCN for the future growth. Management is optimistic that LPCN 1144 will prove to be the best option for treating NASH.

  • KE Holdings Inc. (BEKE) stock rises in Current Market: Here’s to know

    Shares of KE Holdings Inc. (BEKE) were rising in the current market trading session on August 24, 2021, without any certain news. BEKE’s stock price saw a push of 13.87% to reach $18.92 a share at the time of this writing. The trading volume as of now was 13,843,824, higher than the average volume. The stock went high by 2.98% at the previous closing. Let’s deep dive to get more intuition of it.

    What’s Happening?

    KE Holdings Inc is the Chinese real estate platform that operates as an online and offline platform for housing transactions. There is no particular news or press release by KE Holdings to justify the bullish sentiment. No analysts’ upgrades or increased targeted per share price of the BEKE stock to support the rally. It seems that discussion among investors in social media platforms is making the BEKE stock price high in the stock market. Let’s discuss some previous events in this stock.

    BEKE stock’s Q2,2021 Financial Results:

    • BEKE stock reported net revenue of RMB24.2 billion in the second quarter of 2021. This represents a 20% increase from RMB20.1 billion in the same tenure of the previous year. The GTV growth of 22.2% as compared to the previous year’s same quarter is mainly attributable to this rise.
    • The total cost of revenue for the BEKE stock reached RMB18.8 billion (US$2.9 billion) in the second quarter of 2021. This represents a 38.6% increase as compared to the same tenure of the previous year.
    • The gross profit in the reported quarter for the BEKE stock was RMB5.3 billion as compared to RMB6.6 billion in Q2,2021. The gross margin for the stock was 22.1% in Q2,2021 while it was 32.5% in the same quarter of last year.
    • The stock spent RMB4.2 billion for operating expenses in Q2,2021 while it spent RMB3.3 billion for operating expenses in Q2,2020.
    • Net income and adjusted net income for BEKE stock were RMB1,116 million and RMB1,638 million in Q2,2021.
    • By the end of the second quarter, BEKE stock had  RMB59.2 billion in cash, cash equivalents, and short-term investments.

    Business Outlook of BEKE stock:

    KE Holding has projected its revenue for the third quarter to be in the range of RMB14.5 billion and RMB15.5 billion. This means that revenue will decrease by 24.6% to 29.4% as compared to the same period of the previous year.

    Conclusion:

    BEKE stock is hot among investors despite the absence of any certain news related to it. Most Chinese stocks are under great pressure due to a crackdown by the Chinese government in different sectors. This is the reason that KE Holdings management has forecasted low revenue for the third quarter. Investors having long-term prospects must be aware of all facts and figures before making any decision.

  • What made Xeris Pharmaceuticals, Inc. (XERS) stock bullish today?

    Xeris Pharmaceuticals, Inc. (XERS) stock announced the approval of its supplemental new drug application after which stock the stock become bullish today. XERS stock price saw a surge of 24.09% to reach $2.73 a share at the time of this writing. The stock was gloomy in the previous trading session and went low by 1.79% at closing. Let’s dig in to explore more of it.

    Key News:

    Xeris Pharmaceuticals, Inc is the pharmaceutical stock that focuses on the development and commercialization of ready-to-use injectable drug formulations. XERS today announced that the USA Food & Drug Administration has approved its supplemental new drug application (sNDA) of Gvoke® Kit. This drug is used to treat pediatric and adult patients suffering from severe hypoglycemia diabetes ages 2 years and above. Now the XERS stock will increase the manufacturing speed and will make sure the availability of Gvoke Kit in the first quarter of 2022. Gwoke Kit will be available in the market as mg/0.2 mL single-dose vial as well as syringe kit. This kit contains

    • Single-dose sterile syringe with markings for 0.1 mL and 0.2 mL.
    • A single-dose vial containing 0.2 mL of solution.

    XERS stock Strengthened its Patent Estate:

    XERS stock on August 19, 2021, did announce that It has been granted three new patents. These patents relate to its formulation technology platforms. Out of these three, U.S. Patent and Trademark Office has granted two patents to XERS stock. These are U.S. Patent Nos. 10,987,399 and 11,020,403. The third patent no is ZL201580042185.5 which China Intellectual Property Office has granted to XERS stock. The U.S patents use XeriSol™ formulation technology of Xeris stock while the Chinese patent uses XeriJect™ technology of XERS stock.

    The addition of new patents has increased the size of XERS stock’s patent portfolio. Xeris stock now possesses a total of 121 across the globe out of which 16 belong to U.S. Furthermore, XERS stock has almost 120 pending patent applications worldwide and it expects to receive many grants in the upcoming few months.

    Conclusion:

    Investors are responding positively to the approval of the new drug application of Gvoke® Kit by the FDA. Xeris stock is progressing with time as its management is striving hard to expanding its patent portfolio. However, its stock price lost almost 26% in the last 12 months. It is better to know the nitty-gritty of the stock before making any decision.

  • Flora Growth Corp. (FLGC) stock is Popping High today: Why is it so?

    Flora Growth Corp. (FLGC) stock announced the first-half financial results of 2021 after which the stock began to soar today. FLGC’s stock price saw a surge of 33.20% to reach $11.74 a share at the time of this writing. The trading volume as of this writing was 13,997,899, significantly higher than the average. Flora Growth Corp is a cannabis company that provides cannabis products to medical clinics, pharmacies across the globe.

    First Half 2021 Financial Results:

    • Flora Growth reported revenues of +$2M in the first half ended June 30, 2021. The stock reported $100K revenue for the same period of the previous year. The gross profit for the reported half was 60%(unaudited).
    • FLGC stock spent $6 million in operating expenses with a $4 million net loss in the first six months of 2021. $3 million IPO-related expenses significantly affected these results.
    • FLGC stock had a $19 million in cash balance by the end of the first half of 2021. To date, Flora stock received commitments of more than $10 million.

    FLGC stock Operational Developments in Q2 2021:

    • Flora completed the IPO and was successfully listed on the Nasdaq Capital Market exchange with the ticker symbol FLGC.
    • Flora announced the intent of 100% acquisition Koch & Gsell, a manufacturer of hemp and tobacco.
    • Invested $2.4 million into Hoshi International.
    • FLGC stock expanded its business to U.K. and Central American markets. The stock is now selling products in 13 countries.
    • Made new appointments in its board of directors and management team.
    • Formation of Formed Flora Lab manufacturing is another prominent development of FLGC stock.

    FLGC Joint Venture with Avaria Inc.

    In the last week of July 2021, FLGC stock announced the joint venture with Avaria Inc. This joint venture will pave the way for FLGC stock to register, sell and distribute its KaLaya products in many LATAM countries. Both companies will share the profit from the sale of KaLaya products under the joint venture.

    Conclusion:

    Investors are responding positively to the release of first-half financial results by FLGC stock. The stock made many accomplishments amid the Covid-19 crises. The stock increased its global distribution and expanded its portfolio of cannabis products and brands. The management is keen to make this stock as the leading global provider of cannabis products. In a nutshell, this stock can be a good bet for investors in the long run.

  • Agile Therapeutics, Inc. (AGRX) stock rising today: Here’s Why

    Agile Therapeutics, Inc. (AGRX) stock announced a partnership with Pandia Health after which the stock became bullish today. AGRX stock price saw a push of 2.11% to reach $0.96 a share at the time of this writing. The stock was declining in the previous trade and went low by 2.86% at closing. Agile Therapeutics, Inc is the women’s health care stock that develops and commercializes women’s prescription contraceptive products in the U.S.

    AGRX stock Partners with Pandia Health:

    The latest development of AGRX stock is the partnership with Pandia Health which is an online telehealth service. This partnership will be beneficial for Agile stock in two ways.

    • The partnership will be the basis of the telehealth relationship for Agile stock.
    • This will prove to be an additional access point to Twirla transdermal system in a fast-growing channel.

    Pandia Health is an online telehealth service that provides birth control prescriptions services to women. It also provides the facility of online appointments to expert birth control doctors. AGRX stock and Pandia anticipate phasing in the availability of Twirla in the second half of the current year.

    AGRX stock Q2 2021 Performance:

    • The agile stock reported 5,027 total prescriptions in the second quarter of 2021, 171% higher than the preceding quarter. New prescriptions increased by 103% from the preceding quarter to reach 2,857 in Q2,2021.
    • AGRX stock had 2,087 health care providers by the end of the recently reported quarter and dispensed 2,033 prescriptions as refills.
    • Agile generated $1.2 million net product sales revenue in the second quarter of 2021.
    • Cost of product revenue for the AGRX stock reached $1.1 million by the end of the second quarter of 2021.
    • Agile stock suffered a net loss of $17.6 million, or $0.20 per share in Q2,2021. This compares to a net loss of $10.8 million, or $0.12 per share in the second quarter of last year.

    Q2,2021 Expenses of AGRX stock:

    The agile stock spent $16.7 million in total operating expenses in the second quarter of 2021. These were significantly higher than $10.0 million in Q2,2020 due to increased selling and marketing expenses.

    • Research and development expenses of AGRX stock were $0.9 million.
    • Selling and marketing expenses for the recently reported quarter were $11.7 million.
    • Agile stock spent $4.1 million in its general and administrative expenses.

    Wrap Up:

    The partnership with Pandia Health is a good sign for the AGRX stock’s growth. The management is striving hard for the positive progress of the stock however it lost almost 67% in the last 12 months. It is better to do deep fundamental as well as technical analysis before adding this stock to the portfolio.