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Category: Mid Day Movers

  • Kandi Technologies’s (KNDI) Electric Vehicles Receives EPA Approval To Enter US Market

    Kandi Technologies’s (KNDI) Electric Vehicles Receives EPA Approval To Enter US Market

    Kandi Technologies Group, Inc. (NASDAQ:KNDI) revealed today that it has received the Certificates of Conformity from the Environmental Protection Agency (EPA). Its electric vehicles are now officially allowed to enter the US Market. This is the greatest achievement of Kandi as it vowed to bring affordable electric vehicles to the US Market.

    Kandi Technologies has received the clearance certificate for its two electric vehicle models include K23 and K27. The company has disclosed its new vehicle models in July 2020. It aimed to make Electric Vehicles accessible to all.

    The K27 is the smaller model of Kandi. It has an MSRP of $17,499. Eligible buyers will be able to pre-order the K27 today for just $9,999, with federal tax incentives. The pricing for the SUV-style EV of Kandi will begin at $27,499.

    Kandi Technologies Group, Inc. (NASDAQ: KNDI) shares were trading up 20.81% at $8.36 at the time of writing on Wednesday. Kandi Technologies Group, Inc. (KNDI) share price went from a low point around $2.17 to briefly over $17.40 in the past 52 weeks.

    Kandi has a trading volume of 14.35 million as compared to the average volume of $3.45 million. It has moved up 285.25% from its 52-weeks low and moved down -51.95% from its 52-weeks high. KNDI market cap has remained high, hitting $411.67 million at the time of writing.

    The company has earlier announced that it has got the certification by the California Air Resources Board (CARB) for meeting the strict emissions standards of the state. After receiving the certification company is preparing to deliver the most affordable electric vehicle (EV) on the U.S. market.

  • Digirad Corporation (NASDAQ:DRAD) Announces Divestiture Of DMS Health

    Digirad Corporation (NASDAQ:DRAD) Announces Divestiture Of DMS Health

    Digirad Corporation (NASDAQ: DRAD) has announced that it has decided to sell its DMS Health Technologies, Inc business unit. Digirad is a diversified company working in three divisions. The company’s division includes Building and Construction, Real Estate & Investments, and Healthcare.

    As per the Stock Purchase Agreement, the company will receive $18.75 million for the sale of its health business unit. The Stock Purchase Agreement is based on customary closing conditions and it is projected that the transaction will be completed in January 2021.

    DMS Health comes under the Healthcare division of the company and it is the Mobile Healthcare business unit. DMS Health offers contract diagnostic imaging such as magnetic resonance imaging (MRI), computerized tomography (CT), positron emission tomography (PET), PET/CT, and nuclear medicine and healthcare expertise through a convenient, mobile service.

    Digirad Corporation (NASDAQ: DRAD) shares soared 21.90% at $3.09 at the pre-market trading session of Wednesday. In the pre-market session, it has recorded a trading volume of 4.85 million as compared to the average volume of 199.69K.  Digirad Corporation (DRAD) share price went from a low point around $1.99 to briefly over $8.84 in the past 52 weeks. DRAD market cap has remained high, hitting $12.17 Million at the time of writing.

    Digirad’s CEO, Matt Molchan revealed that the decision of divestiture will help the company to run its business. The company is planning to focus its efforts on selling and servicing its Digirad branded solid-state imaging cameras. It is also planning to offer on-site imaging services to hospitals and physicians all over the country.

    Additionally, The company revealed that the divestiture decision will improve its balance sheet and improve its position and help the company to gain new opportunities for investments and acquisitions.

  • Uber Stock (NYSE:UBER) Soars After Securing Prop 22 Win

    Uber Stock (NYSE:UBER) Soars After Securing Prop 22 Win

    Shares of Uber Technologies, Inc. (NYSE:UBER) traded up 10.57% in the pre-market trading session after the company won the most expensive ballot contract in history. California voters have supported the ballot proposal by Uber and its allies.

    The measure is known as ‘Proposition 22’ which addressed the rights of app-based drivers. It was supported by some of the most powerful tech companies and became the most expensive and important campaign in state history. Lyft, Uber, Instacart, Postmates, and DoorDash have invested more than $205 million in the campaign. Some transport companies earlier decided that they would close their services in California if they lost.

    But they all secured the major victory today. After the approval of Proposition 22, app-based drivers are now independent contractors, not employees or agents. This proposition will also address the new wage policies specific to app-based drivers and companies.

    58.35% of Californians have voted in favor of proposition 22, and 41.65% of voters were against the proposition. Transport companies disclosed that this new move will help app-based drivers to choose when and how they work.

    This new initiative helps app-based drivers to provide delivery services through an online application of business. They will be allowed to use a personal vehicle to give prearranged transportation services for compensation via a business’s online-enabled application or platform.

    Uber, Lyft, and DoorDash have invested $30 million into campaign accounts to fund a ballot initiative on August 30, 2019. Opponents of this new proposition said that the new move will exploit the right of the workers. Companies are trying to avoid the employee-related costs that could cost $392 million to Lyft and Uber.

    Uber Technologies, Inc. (NYSE: UBER) shares were trading up 11.97% at $40.05 at the time of writing on Wednesday. Uber Technologies, Inc. (UBER) share price went from a low point around $13.71 to briefly over $41.86 in the past 52 weeks. UBER market cap has remained high, hitting $63.91 Billion at the time of writing.

  • Alaska Communications (NASDAQ: ALSK) To Be Bought By Macquarie Capital & GCM Grosvenor

    Alaska Communications (NASDAQ: ALSK) To Be Bought By Macquarie Capital & GCM Grosvenor

    Shares of Alaska Communications Systems Group, Inc. (NASDAQ: ALSK) soared 59.69% during the pre-market trading session after the company disclosed that it has signed an agreement with Macquarie Capital and GCM Grosvenor. As per the agreement, Macquarie Capital and GCM Grosvenor will buy Alaska Communication in all cash deal valued at $300 million including the debt.

    An affiliate of Macquarie Capital and GCM Grosvenor will buy all the outstanding shares of common stock of Alaska Communications for $3.00 per share in cash. This will constitute a premium of approximately 57% over the closing per share price of $1.91 on November 2, 2020 which is the the last trading day before the completion of merger agreement. It also constitute a premium of approximately 50.8% over the 30-day volume weighted average price as of November 2, 2020.

    The deal will be completed after the approval of shareholders of Alaska Communcations and other cutomary condition. The deal include debt and equity financing and is not based on any condition related to financing. The Board of Directors of Alaska Communications has approve the agreement anfd suggested that all the stakeholders agreed over this propsed merger and merger agreement.

    The company is planning to host a special meeting of shareholders to discuss the merger agreement and will also take vote of the shareholders on merger agreement. Furthermore, TAR Holdings, LLC which hold 8.8% ownership in Alaska has also signed a voting agreement with Macquarie Capital and GCM Grosvenor and assured that it will vote in favor of merger.

    Alaska Communications Systems Group, Inc. (NASDAQ: ALSK) shares were trading up 58.64% at $3.03 at the time of writing on Tuesday. Alaska Communications Systems Group, Inc. (ALSK) share price went from a low point around $1.37 to briefly over $2.86 in past 52 weeks. ALSK market cap has remained high, hitting $103.60 million at the time of writing.

    Global Investor rights firm, Halper Sadeh LLP has commenced investigation that whether the sale of Alaska to Macquarie Capital and GCM Grosvenor in $300 million cash trasnsaction is a just with the shareholders of Alaska Communications. The firm will investigate whether or not the Telecom company has violated the federal securities laws and/or breached their fiduciary duties to shareholders.

  • Beasley Broadcast Group (NASDAQ: BBGI) Announces Operating Results

    Beasley Broadcast Group, Inc. (NASDAQ: BBGI) shares traded up 75.00% in the pre-market trading session after the company revealed operating results for three and nine-month periods ended on 30 September 2020. The company has reported net revenue of $49.6 for the period of three months ended September 2020, as compared to the net revenue of $66.1 in the same period ended September 30, 2019.

    Beasley has recorded net revenue of $137.7 for the period of nine months ended September 30, 2020, as compared to the $189.5 net revenue of nine months period ended September 30, 2019. The decrease in the revenue showed the impact of the COVID-19 pandemic as the commercial advertising reduced due to the pandemic.

    The Broadcasting company has revealed that its operating income in the third quarter of 2020 was $0.8 compared to an operating income of $9.4 million in the third quarter of 2019. Additionally, its operating income during the nine months period ended September 30, 2020, was (23.9) as compared to the operating income of 26.9 during the nine months period ended September 30, 2020.

    Beasley Broadcast Group, Inc has experienced a net loss of $2.7 million, or $0.08 per diluted share, in the three months ended September 30, 2020, as compared to a net income of $3.0 million, or $0.11 per diluted share, in the three months ended September 30, 2019. The loss which the company reported is because of the coronavirus pandemic.

    The company has recorded a decline in Station Operating Income. It has revealed that its net income in three months period ended on September 30, 2020, was $8.1 as compared to the SOI of $16.7 in the three months period ended on September 30, 2019. Additionally, its SOI for nine months period ended on September 30, 2020, was $3.8 as compared to the same period of 2019 which has an SOI of $44.8.

    CEO Caroline Beasley anticipates that the company will experience strong recovery in the continued third period of 2020. The company has taken necessary steps such as reduction of the station, furloughs, headcount reductions. etc to reduce the impact of coronavirus pandemic.

    Beasley Broadcast Group, Inc. (NASDAQ: BBGI) shares were trading up 58.87% at $1.98 at the time of writing on Tuesday. Beasley Broadcast Group, Inc. (BBGI) share price went from a low point around $1.15 to briefly over $5.15 in the past 52 weeks.  BBGI market cap has remained high, hitting $35.56 million at the time of writing.

  • Is Endurance International (NASDAQ: EIGI) Stock A Buy?

    Is Endurance International (NASDAQ: EIGI) Stock A Buy?

    Endurance International Group Holdings, Inc. (NASDAQ: EIGI) has shown strong performance on Monday session as its shares soared 61.62%. The IT Services company has announced today that it has signed a merger agreement with Clearlake Capital Group L.P. Clearlake Capital Group L.P will acquire Endurance International in an all-cash transaction valued at approximately $3.0 billion including outstanding indebtedness.

    The company has also disclosed financial results for its third quarter ended September 30, 2020. It has reported a net income of $6.7 million and a GAAP revenue of $278.4 million in the third quarter of 2020. Endurance International Group Holdings has recorded a Cash flow from operations of $54.6 million and Free cash flow of $42.6 million.

    The IT service company has reported an increase of 3% as compared to the revenue of the third quarter of 2019. Its Adjusted EBITDA for the third quarter of 2020 was $78.7 million, a decrease of 1 percent compared to the third quarter 2019 adjusted EBITDA of $79.6 million, excluding SinglePlatform.

    The company will not hold a conference call it has scheduled earlier on November 5, 2020, to discuss the third quarter 2020 financial results. Additionally, it has recorded the total subscribers on the platform on September 30, 2020, of approximately 4.965 million as compared to approximately 4.780 million subscribers on September 30, 2019.

    Endurance International Group Holdings, Inc. (NASDAQ: EIGI) shares were trading down 61.62% at $9.39 at the time of writing on Monday. Endurance International Group Holdings, Inc. (EIGI) share price went from a low point around $1.31 to briefly over $6.69 in the past 52 weeks.  EIGI market cap has remained high, hitting $875.39 million at the time of writing.

    An investor rights firm, Halper Sadeh LLP has commenced an investigation on the sale of Endurance International Group Holdings, Inc. to affiliates of Clearlake Capital Group L.P. for $9.50 per share in cash is fair to Endurance International shareholders. The firm will ask for increased consideration for shareholders and will request the firm to share additional information related to the proposed transaction, or other relief and benefits.

  • Why DBV Technologies (NASDAQ: DBVT) Is Skyrocketing Today?

    Why DBV Technologies (NASDAQ: DBVT) Is Skyrocketing Today?

    DBV Technologies S.A. (NASDAQ: DBVT) kicked off Monday trading session with a strong performance as it stocks rocketed 72.03% after the company revealed that the European Medicines Agency (EMA) has approved its Marketing Authorization Application (MAA) for its investigational product ViaskinTM Peanut (DBV712).

    The verification of the Marketing Authorization Application (MAA) enables the company to commence the formal review process for the investigational non-invasive, once-daily epicutaneous patch to treat peanut allergies in children ages 4 to 11 years.

    After the approval of MAA, the committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) will review the application. After the review process committee will give suggestions to the European Commission (EC) on whether to give a marketing authorization. DBV Technologies revealed that it anticipates that it will receive the first set of questions from the EMA approximately 120 days post-validation.

    DBV Technologies S.A. (NASDAQ: DBVT) shares were trading up 69.23% at $2.42 at the time of writing on Monday. DBV Technologies S.A. (DBVT) share price went from a low point around $1.35 to briefly over $13.49 in the past 52 weeks. It has moved up 79.26% from its 522-weeks low and moved down -82.06% from its 52-weeks low. DBVT market cap has remained high, hitting $156.78 Million at the time of writing.

    Earlier in August, DBV Technologies S.A. has earlier disclosed that it had got a Complete Response Letter (CRL) from the U.S Food and Drug Administration (FDA) for its Biologics License Application (BLA) for investigational Viaskin Peanut.

    Previously, DBV Technologies has shared the cash and cash equivalents and the number of outstanding shares as of September 30, 2020. It has reported the cash and cash equivalent of €189.1 million as compared to €225.9 million as of June 30, 2020. It has revealed that its average monthly cash burn reduced in the third quarter of 2020 as compared to the second quarter of 2020, excluding the expenses related to the ongoing global restructuring plan of the company.

  • Titan Pharmaceuticals (NASDAQ: TTNP) Is Plunging. Here’s Why

    Titan Pharmaceuticals (NASDAQ: TTNP) Is Plunging. Here’s Why

    Share of Titan Pharmaceuticals (NASDAQ: TTNP) traded down -20.46% during the trading session of Monday after the company disclosed that it has settled all of its debt obligations with Molteni & C. dei F.lli Alitti Società di Esercizio S.p.A (Molteni) and Horizon Credit LLC II. TTNP has signed an agreement to settle all the debt and the company has also entered into an agreement to buy JT Pharmaceuticals, Inc.’s kappa opioid agonist peptide, JT-09.

    Titan Pharmaceuticals is planning to use JT-09 in combination with Titan’s ProNeura® long-term, continuous drug delivery technology, for the treatment of chronic pruritus. It has earlier disclosed that it has signed an asset purchase agreement with JT Pharmaceuticals.

    The execution of both the agreement based on Titan’s closing of the earlier announced underwritten public offering, which occurred on October 30, 2020. It has revealed that after the debt settlement agreement there is no one who can claim the assets rights of Titan in the future.

    Titan’s Executive Chairman, Dr. Marc Rubin disclosed that with the profit it has earned through recent public offering and the reduction in operating expenses, it is now capable to advance preclinical development of its ProNeura-based product candidate pipeline, including establishing proof of concept with JT-09 in the first half of 2021.

    Titan Pharmaceuticals (NASDAQ: TTNP) shares were trading down -20.46% at $0.11 at the time of writing on Monday.  Titan Pharmaceuticals share price went from a low point around $0.11 to briefly over $0.55 in the past 52 weeks. It has moved down -1.06% from its 52-weeks low and moved down -79.52% from its 52-weeks high. TTNP market cap has remained high, hitting $16.94 at the time of writing.

    Titan Pharmaceutical earlier revealed that after the agreement with JT Pharmaceuticals, JT Pharma has full rights to get future milestone payment of Titan based on the achievements. The company will use JT-09 in combination with Titan’s ProNeura continuous drug delivery technology, for the treatment of chronic pruritus. Chronic Pruritus is the itching condition on the skin.

     

  • Why Air Industries Group (AIRI) Stocks Jumping Higher Today?

    Why Air Industries Group (AIRI) Stocks Jumping Higher Today?

    Shares of Air Industries Group (AMEX: AIRI) jumped 41.37% during the trading session of Friday after the company announced that it will discuss the earnings results of 2020 Third Quarter in the Earnings Call which is scheduled to be held on October 30, 2020, at 8:30 AM Eastern Time. The company has disclosed its financial results for the three and nine months ended September 30, 2020.

    Aerospace & Defense company has announced that the sales of its third-quarter reached $13.7 million, recording an increase of $ 5.2 million or 61% compared to the second quarter during the peak of the pandemic. Air Industries Group has reported a Gross Margin of 12.1%.

    The company has achieved a V-shaped recovery in its sales. It has reported the consolidated net sales for the three months ended September 2020 of $13.7 million. It has recorded a decline of 2% as compared to the sales for the three months ended in 2019.  On the other hand, AIRI recorded the consolidated net sales for the nine months ended September 2020 of $35.6 million.

    Its consolidated gross profit for three months and nine months was $1.7 million and $4.5 million, respectively. Air Industries has reported the Operating expenses for the three months and nine months ended September 2020 were $1.9 million and $6.1 million.

    Furthermore, Its operating loss for three months ended September 2020 was $240,000 and operating loss for the nine months completed September 2020 was $1.6 million. It has shared the interest and financing costs for the three months ended September 2020 of $359,000 and $1.2 million interest and financing costs for the nine months ended September 2020.

    Air Industries Group (AMEX: AIRI) shares were trading up 41.37% at $1.46 at the time of writing on Friday. Air Industries Group (AMEX: AIRI) share price went from a low point around $0.60 to briefly over $3.36 in the past 52 weeks. It has a trading volume of 5.58 million as compared to the average volume of 85.38K. AIRI market cap has remained high, hitting $31.31 million at the time of writing.

  • BioLineRx (NASDAQ: BLRX) Reports Promising Results Of Motixafortide In Phase III Trial

    BioLineRx (NASDAQ: BLRX) Reports Promising Results Of Motixafortide In Phase III Trial

    Shares of BioLineRx Ltd. (NASDAQ: BLRX) traded up 52.03% in the pre-market session after the company has reported the encouraging results from the GENESIS Phase III clinical trial, assessing lead candidate motixafortide for stem cell mobilization in multiple myeloma patients. Initially, the company has planned to enroll 177 patients for the study but the Data Monitoring Committee suggested that the company should stop patients enrollment.

    Data Monitoring Committee (DMC) has monitored the primary endpoint of the study and the interim analysis showed the promising results of treatment with motixafortide. As per the suggestion of DMC, the study enrollment is now stopped at 122 patients.

    The biotechnology company has announced that the full result of the study along with the safety data will be disclosed once the last patients enrolled reach 100 days of follow-up post-transplantation. It is expected that would occur in the first half of 2021.

    BioLineRx Ltd. (NASDAQ: BLRX) shares were trading up 52.03% at $2.250 during the pre-market trading session of Friday. BioLineRx Ltd. (NASDAQ: BLRX) share price went from a low point around $1.06 to briefly over $3.04 in the past 52 weeks. It has a trading volume of 15.23 million during the pre-market trading session. BLRX market cap has remained high, hitting $29.55 million at the time of writing.

    The promising results of this study are the greatest achievement of the company. BioLineRx is positive in its opinion that the final results of the study will also support its goal of changing the treatment pattern in autologous stem-cell mobilization, thus positioning motixafortide in combination with G-CSF as the new standard of care in this indication. The GENESIS Trial was started in 2017.