STOCKS TELEGRAPH

Category: Mid Day Movers

  • Why Quotient Technology Inc. (QUOT) stock is gloomy today?

    Quotient Technology Inc. (QUOT) stock was falling in the intraday session following the release of second-quarter 2021 financial results. QUOT stock price saw a downtrend of 25.21% to drop at $8.13 a share as of this writing. Quotient Technology Inc is the digital media and promotions technology stock that empowers brands via integrated digital media and promotions programs.

    Second Quarter 2021 Financial Results:

    • QUOT stock suffered a quarterly loss of $0.18 per share, higher than Zacks Consensus Estimate of a loss of $0.10. This means -80% quarterly earnings surprise for the Quotient stock. It is the fourth consecutive quarter for which QUOT stock has not surpassed the consensus EPS estimate.
    • QUOT stock generated $123.9 million revenue in Q2 2021 which is 48% higher as compared to revenue in the same quarter last. This revenue has surpassed the Zacks Consensus Estimate by 3.95%.
    • The gross margin for the Quotient stock in the reported quarter was $41.72 million as compared to $32.7 million in Q2 2020.
    • Total operating expenses increased from $48.5 million in Q2 2020 to $55.1 million in Q2 2021.
    • QUOT stock reported a GAAP net loss of $17.2 million in the second quarter of 2021.
    • The adjusted EBITDA of the stock in the reported quarter was $4.3 million.

    QUOT stock’s 3rd Quarter and Full Year 2021 Outlook:

    Quotient Technology expects its third-quarter revenue between $126.0 million to $133.0 million. The stock projects its adjusted EBITDA in the range of $2.0 million to $12.0 million. The stock expects to record operating cash flow between $7.0 million to $12.0 million.

    For the full fiscal year 2021, the revenue estimate of Quotient stock is between $505.0 million to $522.0 million. Adjusted EBITDA will be in the range of $50.0 million to $65.0 million.

    Previous Development of QUOT stock:

    QUOT stock on July 15 launched multi-touch, impression-based attribution measurements that possess self-serve capabilities. This new methodology within the Quotient Analytics Platform will make advertisers, agencies, and retailers able to measure the performance of their omnichannel campaigns. These campaigns will run on the Quotient Analytics platform.

    Wrap Up:

    Investors are responding negatively to the release of second-quarter 2021 financial results. The stock lost 16.60% year to date and 740,256 average trading volume. Investors eyeing Quotient stock need to do deep research before adding this to their portfolio.

  • Why did Intersect ENT, Inc. (XENT) stock rally in the Intraday session?

    Intersect ENT, Inc. (XENT) stock released second-quarter 2021 financial results and signed a definitive agreement with Medtronic plc today. XENT stock price in response to these couple of announcements saw a push of 12.97% to reach $27.70 a share as of this writing. The stock went high by 0.16% at the previous closing. Let’s dig in to understand more about it.

    Second Quarter 2021 Financial Results:

    • XENT stock generated $27.3 million in Q2 2021, 180% higher as compared to $9.8 million in the prior year same quarter. The quarterly revenue for SINUVA has been reached a record height of $2.7 million.$1.6 million revenue recorded from the Global Navigation and Balloon portfolio
    • XENT stock recorded a $19.0 million gross profit and 69.5% gross margin in the second quarter of 2021. The gross profit and gross margin for the Q2 2020 were $2.4 million and 24.8% Adjusted gross profit and gross margin for the XENT stock was $19.5 million and 71.3% respectively without intangible asset amortization impact.
    • Operating expenses increased from $23.5 million in Q2 2020 to $35.1 million in Q2 2021. Research and development expenses jumped from $4.0 million in Q2 2020 to $6.4 million in Q2 2021.
    • XENT stock reported a net loss of $16.6 million, or $0.50 per share in the second quarter of 2021. The net loss for the same quarter last year was $23.1 million, or $0.71 per share.
    • As of June 30, 2021 XENT stock had cash, cash equivalents, and short-term investments of $76.2 million. At the start of 2021, cash, cash equivalents and short-term investments of Intersect stock were $76.2 million.

    XENT stock’s agreement with Medtronic plc

    Medtronic plc has signed the definitive agreement with Intersect ENT for the acquisition of all outstanding shares of the latter. Medtronic will buy all the outstanding shares of the XENT stock at a share price of $28.25.The acquisition will happen through the all-cash transaction which represents approximately $1.1 billion enterprise value. The acquisition is will possibly end by the end of the ongoing fiscal year of XENT stock after meeting the customary closing conditions.

    Medtronic plc is one of the largest medical technology services and solutions companies across the globe. It has an operating network in more than 150 countries and has more than 90,000 employees across the globe.

    Wrap Up:

    The second-quarter financial results of the XENT stock represent a positive recovery after the pandemic suffering. The revenue from the electrical surgical process and SINUVA have been significantly increased in this three months tenure. The acquisition agreement with Medtronic is another positive sign representing the growth of the stock.

  • Syros Pharmaceuticals, Inc. (SYRS) stock is Going high today: Why is it so?

    Syros Pharmaceuticals, Inc. (SYRS) stock is Going high today: Why is it so?

    Syros Pharmaceuticals, Inc. (SYRS) stock was going high in the intraday trading session after the release of second-quarter 2021 financial results. SYRS stock price saw a push of 1.48% to reach $4.58 a share as of this writing.  The stock was red in the previous trading session and went low by 1.53% at closing. Let’s take a closer look at this stock.

    Second Quarter 2021 Financial Results:

    • Syros stock reported $5.2 million in revenue for the second quarter of 2021. This includes $3.3 million and  $1.9 million under its collaboration with Global Blood Therapeutics, Inc. (GBT) and Incyte Corporation (Incyte)
    • SYRS stock spent $25.8 million in research and development expenses in the second quarter of 2021 as compared to $14.8 million for the same tenure of the previous year. The increase is attributable to clinical programs and staff-related expenses.
    • SYRS stock spent $5.5 million for general and administrative expenses in the second quarter of 2021. The previous year same quarter’s G&A expenses were $5.1 million for the stock.
    • Net loss of the stock increased to $22.5 million, or $0.36 per share in Q2 2021 from $17.2 million, or $0.38 per share in Q2 2020.

    Balance Sheet of the SYRS stock:

    Syros stock as of June 30, 2021, reported $195.3 million cash, cash equivalents, and marketable securities, higher than $174 million on December 31, 2020. $75.6 million gross proceeds from the public offering in January contributed to this increase. However, this increase is partially offset by cash for funding stock operations. The management is optimistic that the current balance sheet is enough to fund operations till 2023

    SYRS stock’s Pipeline Update:

    Syros stock signed an agreement with Roche today in order to provide SY-5609 for a combination dosing cohort with atezolizumab in Roche’s Phase 1/1b INTRINSIC trial. The trial will combine SY-5609 with atezolizumab to evaluate its effectiveness in patients suffering from  BRAF-mutant disease.

    Furthermore, Syros stock will not evaluate a combination of SY-5609 and fulvestrant in patients with CDK4/6 inhibitor-resistant HR-positive breast cancer. This is due to change in the development landscape as well as the emergence of oral selective estrogen receptor degrader.

    Conclusion:

    Syros Pharmaceuticals stock is now enjoying the bullish sentiment after positive Q2 2021 financial results. The balance sheet is strong enough to fund operations for approximately the next two years. The stock is progressing with Tamibarotene, SY-2101 for APL, and SY-5609 for Select Solid Tumors, programs. Hence investors should keep an eye on this stock.

  • Why Is Eiger BioPharmaceuticals (EIGR) Stock Increasing Today?

    At last check in early trades today, Eiger BioPharmaceuticals Inc. (EIGR) shares were rising 4.49% to trade at $7.92. The previous session ended with EIGR stock at $7.58.  EIGR stock’s volume so far today has been 0.38 million shares, higher than its average daily volume of 0.18 million shares within the past 50 days. In the last 12 months, shares of EIGR stock have fallen -32.92%, and in the last week, they have dropped -8.23%.

    Price of EIGR stock fell -17.88% in the past three months, while it declined -28.56% in the past six months. As of today, EIGR is valued at $263.48 million and its outstanding shares are 33.89 million.  EIGR stock was rising after its product received Breakthrough Therapy Designation by the U.S. Food and Drug Administration (FDA).  EIGR is also set to announce quarterly earnings today.

    Which EIGR stock therapy has been approved by the FDA?

    Eiger BioPharmaceuticals is a commercial-stage biopharmaceutical company developing and commercializing targeted therapies for very rare and ultra-rare diseases. Clinical research at EIGR is aimed at developing new therapies for infections of Hepatitis Delta Virus (HDV), the most severe form of viral hepatitis. A key part of the HDV platform strategy of Eiger is its complementary HDV treatment offering.

    An oral, first-in-class prenylation inhibitor, lonafarnib is being evaluated by EIGR in a global Phase 3 trial. Also in Phase 3, peginterferon lambda is an interferon of type III and is well-tolerated as a first-in-class drug by EIGR. Zokinvy is the EGIR’s first FDA-approved product for the treatment of the Hutchinson-Gilford Progeria Syndrome (HGPS) and progeroid neuropathy. The European Medicines Agency (EMA) is reviewing a Marketing Authorization Application (MAA).

    In a conference call scheduled for 4:15 PM ET today, Eiger BioPharmaceuticals will discuss its financial results and provide an update on its business. EIGR will make the webcast available live and for replay on its website. Webcasts will be archived by EIGR and made available for replay for at least 90 days after the event.

    Moreover, Eiger BioPharmaceuticals has announced today that the FDA has approved the use of avexitide for treating congenital hyperinsulism (HI) granting it Breakthrough Therapy Designation. Drugs that may demonstrate substantial improvements over available therapy on a clinically significant endpoint (s) can qualify for Breakthrough Therapy Designation, which is designed to speed the development and review of drugs designed to treat serious conditions. Based on the results of three completed Phase 2 studies, EIGR submitted an application with data from 39 children and adolescents with congenital hyperinsulinism.

    Drug development:

    Avexitide from EIGR is being developed to treat metabolic disorders, including congenital hyperinsulinism, an extremely rare pediatric disorder of persistent hypoglycemia that causes irreversible brain damage in up to 50% of children. In congenital hyperinsulinism, an urgent and unmet medical need without approved treatment, Avexitide represents a promising and targeted approach of EIGR.

  • Why eXp World Holdings, Inc. (EXPI) stock is soaring in intraday session?

    Why eXp World Holdings, Inc. (EXPI) stock is soaring in intraday session?

    eXp World Holdings, Inc. (EXPI) stock announced second-quarter 2021 financial results today after which the stock has become bullish. EXPI stock price saw a push of 32.99% to reach $46.45 a share at the time of this writing.  eXp World Holdings, Inc is the cloud base brokerage service provider to residential homeowners and homebuyers.

    Second Quarter Financial Results:

    According to results of the second quarter ended June 30, 2021

    • EXPI stock generated $1 billion in revenue representing a record 183% increase as compared to the same quarter of the previous year.
    • The gross profit of $79.9 million in the reported quarter is 133% higher than the same quarter of last year.
    • Net income showed 350% improvement to reach $37.0 million as compared to the prior year same quarter. It also includes a $20.6 million income tax provision benefit.
    • Diluted earnings per share reached $0.24, 300% higher than the same quarter of last year.
    • $27.0 million adjusted EBITDA represents a 98% increase from the same quarter of last year.
    • The operating cash flow of the EXPI stock reached $88.5 million which represents a 210% increase from the prior year same quarter.

    Balance Sheet:

    EXPI stock reported that it had $107.4 million in cash and cash equivalents by the end of June 2021. This represents a significant increase as compared to $63.6 million cash and cash equivalents on the prior-year same date. During the second quarter, EXPI stock repurchased $54.9 million of common stock.

    EXPI stock declares first cash dividend:

    eXp World Holdings announced a cash dividend of  $0.04 per share of its common stock for the third quarter of 2021. The shareholders of the record date  Aug. 16, 2021, will be eligible for the cash dividend. The stock is expected to pay a dividend to shareholders on August 30, 2021.

    Operation highlights of EXPI stock:

    • eXp Realty platform now has more than 58,263 agents and brokers which represents an 87% increase over the year.
    • The stock reported a 164% increase in residential and commercial transaction sides closed
    • Completed residential and commercial transaction volume reached $40.1 billion with a 210% increase over the year.
    • eXp Realty expanded its operation to Colombia, Spain, and Israel in the second quarter of 2021. The stock is anticipating to operate in Japan and Germany by the end of 2021.
    • The global Net Promoter Score of eXp Realty was 70 in the second quarter of 2021.

    Wrap up:

    Things are going well for the EXPI stock as far as market sentiment is concerned. ESPI stock showed exceptional performance in the second quarter of 2021. The stock is expanding its operations and can be a good bet for investors in the long run.

  • ECMOHO Limited (MOHO) stock is declining today: Why is it so?

    ECMOHO Limited (MOHO) stock is declining today: Why is it so?

    ECMOHO Limited (MOHO) stock was declining in the intraday trading session after announcing the pricing of an underwritten public offering of American Depository Shares(ADSs). MOHO stock price saw a downtrend of 36.38% to drop at $0.84 a share at the time of this writing. The trading volume was 2,382,516 on the last check. Let’s have a deep look at this stock.

    Underwritten Public Offering:

    ECMOHO Limited is an investment holding company that provides integrated solutions to the non-medical health and wellness market. Today it announced the pricing of 10 million ADSs at a price of $0.90 per ADS. The offering would result in the gross proceeds of $9.0 million without deducting underwriter discounts, and other offering-related expenses. One thing is to note that these gross proceeds estimate does not include any additional purchase of ADSs. One American Depositor Share represents four Class A ordinary shares of the MOHO stock. ECMOHO is planning to invest part of the net proceeds in its SaaS platform. MOHO stock will use remaining amount for working capital as well as general corporate purposes. The offering will be expected to end on August 5, 2021, after the satisfaction of customary closing conditions.

    MOHO stock granted a 45-day option to the underwriter to purchase up to 12.8% of the number of ADSs in the public offering in order to cover over-allotments. Exercising the full option will increase the gross proceeds from $9.0 million to approximately $10.2 million.

     Previous Activities of MOHO stock:

    MOHO stock on July 16, 2021, entered into the strategic cooperation agreement with Chong Kundang Group. The purpose of this agreement is to provide marketing services and sales of Chong Kundang’s health products in China. The agreement would benefit both companies in terms of their growth.

    ECMOHO stock empowered many brands through its ECMOHO 618 sales event, held on June 18, 2021. Many top domestic, as well as foreign brands, participated in this event. Moreover, consumer data was gathered for the efficient future marketing and advertisement of health care products.

    Wrap Up:

    The announcement of pricing of underwritten public offering is the obvious reason for the bearish sentiment. The MOHO stock expects to announce its second-quarter 2021 financial results in the mid of next month. It is better to do both fundamental as well as technical analysis before adding this stock to the portfolio.

  • Why is Galmed Pharmaceuticals Ltd. (GLMD) stock rising today?

    Shares of the Galmed Pharmaceuticals Ltd. (GLMD) stock were rising today following the green signal by the FDA related to the use of Aramchol meglumine in the phase three ARMOR study. GLMD stock price saw a push of 7.23% to reach $2.67 a share at the time of this writing. The trading volume was 373,674 on the last check. Let’s take a deep look at the stock.

    What’s Happening?

    Galmed Pharmaceuticals Ltd is a pharmaceutical company that develops therapeutics for the treatment of liver diseases. FDA agrees with Galmed for the use of Aramchol meglumine in the phase three ARMOR study. Furthermore, FDA is agreed that there is no need of conducting additional clinical and non-clinical studies. Only previously planned studies related to Aramchol meglumine are more than enough to check its effectiveness. Aramchol meglumine is the compound that is created using a salt form of Aramchol. This salt has the highest solubility in water as compared to free acid.

    GLMD stock will release financial results for the second quarter ended June 30, 2021, on August 5, 2021. Galmed stock will also discuss developments related to clinical programs for Aramchol™.

    GMLD stock’s first-quarter 2021 financial results:

    • In the first quarter of 2021, Net loss of GLMD stock increased to $8.9 million from $6.1 million in the previous year.
    • Galmed stock spent $7.4 million in research and development expenses in the first quarter of 2021. These expenses were $5.6 million for the same period of the previous year. The increase in drug development costs had increased research and development expenses.
    • General and administrative expenses jumped to $1.7 million in Q1 2021 from 0.9 million in Q1 2020. The increase in salaries and benefits and higher D&O costs increased these expenses.
    • In February 2021, GLMD stock generated $18.4 million from its underwritten public offer and at the market equity program.

    GLMD Stock Balance Sheet:

    At the end of March 2021, Galmed stock had $58.9 million cash and cash equivalents, restricted cash, short-term deposits, and marketable debt securities as compared to $50.9 million by the end of December 2020.

    Conclusion:

    Due to a recent announcement, GLMD stock has captivated the attention of investors as far as market sentiment is concerned. The stock has lost 4.08% year to date. Fundamental, as well as technical analysis, is necessary before making any decision regarding this stock.

  • Why is Taoping Inc. (TAOP) stock soaring in the intraday session today?

    Taoping Inc. (TAOP) stock signed a strategic cooperation agreement with Shenzhen IntelStrat Technology Co., Ltd after then stock became bullish today. Taoping stock price saw a surge of 29.19% to reach $4.16 a share at the time of this writing. The stock closed at $3.22 per share with an 8% drop in the last trade. Let’s deep dive to explore more of it.

    TAOP stock’s Agreement with IntelStrat:

    Taoping Inc is the provider of cloud-based services, blockchain technology, and big data solution to various Chinese companies. IntelStrat is established in 2016 and is the provider of blockchain solutions to various organizations and businesses. Taoping recent agreement with IntelStrat has a tenure of three years. The main three points of the agreement are as follow.

    • Both Taoping stock and IntelStrat will collaborate with each other to establish a data center. The data center will be based on distributed storage for cloud desktop, cloud gaming and rendering, and AI business service.
    • TAOP existing potential areas for blockchain adoption will use IntelStrat blockchain technology. This move will expand the market share for both enterprises in blockchain adoption.
    • Both companies will jointly establish the blockchain industry fund. Furthermore, TAOP stock and IntelStrat will work together to explore and invest in rising blockchain companies. The main reason behind this is to promote blockchain technology in the industry.

    TAOP stock to acquire 51% of Zhenjiang Taoping:

    Two days ago on July 28, 2021, TAOP stock signed the letter of intent with shareholders of Zhenjiang Taoping IoT Technology Limited for the 51% acquisition of Zhenjiang Taoping.  After continuous hard work of three years, Zhenjiang Taoping is now the leading media platform in Zhenjiang. Its average daily viewership traffic has now surpassed 250,000. The purchase price will be paid in the form of TAOP ordinary shares. The management is optimistic that this acquisition will accelerate TAOP’s east China acceleration project.

    TAOP’s further Developments:

    • Taoping stock promoted Huan Li to Chief Marketing Officer.
    • On June 9, 2021, TAOP stock closed its acquisition of Taoping New Media.
    • TAOP participated in Asia OOH 18th China Outdoor Communication Conference held in Chengdu, China.
    • Besides the “Top Media in Shopping District” award, TAOP stock received acknowledgment for its multi-scene advertising and innovative use of digital transformation in the conference.

    Wrap Up:

    Investors are responding positively to the recent news of the TAOP stock. The stock is progressing with time and can be a good bet for investors in the long run.

  • Tempur Sealy Intl. (TPX) Stock Surges Following Stellar Second Quarter 2021 Financial Reports

    Tempur Sealy Intl. (TPX) stock prices were up by 16.36% some time after market trading commenced on July 29th, 2021, bringing the price per share up to USD$43.81 early on in the trading day.

    TPX Stock’s Net Sales Reports

    Total net sales for the second quarter of fiscal 2021 increased by 75.8% to hit nearly USD$1.17 billion, up from the USD$665.2 million reported for the prior-year quarter. On a constant currency basis, TPX Stock reported total net sales being up by 72.6%, with the North American business segment reported a 73.8% increase while the International business segment reported an increase of 64.5%.

    Gross Margin and Operating Income

    Gross margin for the quarter came out to 44.3%, up from the 40% reported in the second quarter of 2020. Adjusted gross margin was reported at 40.6% in the prior-year quarter, with the 2021 quarter not having any adjustments to gross margin. TPX stock reported operating income was up by a massive 318.2%, coming in at USD$223.3 million as compared to the USD$53.4 million reported for the prior-year quarter. Adjusted operating income was up 191.7% from the prior-year quarter, up from USD$77.9 million to USD$227.2 million.

    Net Income and Liquidity

    Net income was up an astounding 512.2%, from USD$23 million in the second quarter of 2020 up to USD$140.8 million in the second quarter of 2021. Adjusted net income was up 294.9%, up from USD$40.9 million in Q2 2020 to USD$161.5 million reported in Q2 2021. Net cash generated by TPX stock’s operating activities were up to a record-breaking USD$226.7 million, up from the USD$155.4 million in the second quarter of 2020.

    Q2 2021 EBITDA and EPS

    EBITDA for the second quarter of fiscal 2021 was up 212.3% from the USD$85.2 million in the second quarter of fiscal 2020, with the 2021 quarter reporting USD$266.1 million. Adjusted EBITDA per credit facility was up 146.6%, up to USD$270.3 million as compared to the USD$109.6 million reported for the second quarter of 2020 by TPX stock. Earnings per share were up 527.3%, up to USD$0.69 from the USD$0.11 reported in Q2 2020.

    Future Outlook for TPX Stock

    Armed with the massive success of its stellar financial reports for the second quarter of 2021, TPX stock is poised to continue its trajectory of success into the upcoming quarters and beyond. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Golden Star Resources Ltd. (GSS) Stock Surges Following Announcement of Stellar Q2 2021 Financial Report and Developments

    Golden Star Resources Ltd. (GSS) stock prices skyrocketed by 29.52% some time after market trading commenced on July 29th, 2021, bringing the price per share up to USD$2.72 early on in the trading day.

    Wassa Production Improvements

    The second quarter of fiscal 2021 production came out to a total of 37.9 thousand ounces from Wassa, coming out to an all-in sustaining cost of USD$1182 per ounce. The first half of the fiscal year produced a total of 78 thousand ounces at an all-in sustaining cost of USD$1140 per ounce. Full-year 2021 production guidance anticipates volumes in the range of 145 to 155 thousand ounces.

    GSS Stock’s Continued Growth

    The Wassa underground grade averaged 3.1 grams per ton over the course of the quarter, which is in line with the reserve grade. This also represents a 4% increase from the average reported for the first quarter of 2021.Q2 2021 saw the continued investment by GSS stock in infill drilling and development at the Wassa facility, setting the stage for the company’s planned future production expansion.

    Continued Trajectory of Success

    Capital expenditure for the second quarter of 2021 came in at USD$12 million. The quarter also reported the continuation of paste fill test work, with the positive results providing the basis for a second test stope that is current in progress. Should it be successful, this will lead to the restart of the planned filling schedule in the fourth quarter of 2021.

    Solid Liquidity Position

    GSS stock reported cash reserves having increased by USD$6.6 million in the second quarter, with the company reporting USD$72.7 million as of June 30th, 2021. Net debt was reduced to USD$31 million over the course of the quarter. The senior secured credit facility with Macquarie Bank Ltd. was restructures and upsized. Since, it has a three-year term and facilitates the provision of a USD$90 million revolving credit facility, with USD$30 million of undrawn liquidity. The amortization profile was also restructured, resulting in the release of USD$30 million of liquidity in 2021 and 2022.

    Future Outlook for GSS Stock

    Armed with its expanded liquidity position and the success of its Q2 2021 financial reports, GSS stock is poised to capitalize on opportunities to continue expanding the scope of its business. The company is keen to extend its market reach, with investors hoping it will result in significant and sustained increases in shareholder value.