STOCKS TELEGRAPH

Tag: DUO

  • Fangdd Network Group Ltd. (DUO) Soars After Hours Amid Wider Optimism

    Fangdd Network Group Ltd. (NASDAQ: DUO) surprised investors with a staggering 90% surge in its stock price during after-hours trading, catapulting its value to $1.15, almost doubling its worth. This impressive leap followed a solid trading day on Friday where DUO climbed by nearly 4.5%.

    Despite the lack of any apparent catalyst for this surge, market watchers are speculating about potential profit-taking dips looming on the horizon. However, amidst the uncertainty, bullish sentiments prevail as investors ride the wave of optimism.

    Seeking to Ambitiously Disrupt China’s Real Estate Space

    The company, known for its customer-centric approach in the property technology sector, is making strategic moves to tap into the burgeoning real estate stock asset services market in China. Fangdd’s recent unveiling of its 2024 strategic layout underscores its commitment to adapting to market shifts and seizing new opportunities.

    In a space where urbanization is slowing down and housing saturation is becoming more pronounced, Fangdd’s pivot towards real estate stock asset services appears timely. By leveraging its expertise in digitalization services for real estate transactions, the company aims to establish itself as a key player in this trillion-dollar market.

    Asset Revitalization and Challenges

    The strategic blueprint for 2024 focuses on enhancing asset revitalization capabilities and expanding service asset projects, particularly in high-potential sectors like apartments, commercial properties, and industries. This proactive approach reflects Fangdd’s intent to diversify its revenue streams and mitigate risks associated with traditional transaction commissions.

    However, amidst the optimism, Fangdd faces challenges related to compliance with Nasdaq’s minimum bid price requirement. While the company has been granted a grace period to rectify the situation, it underscores the importance of monitoring stock performance and exploring viable solutions.

    Conclusion

    In conclusion, Fangdd’s remarkable after-hours surge, coupled with its strategic foray into real estate stock asset services, highlights its resilience and adaptability in a dynamic market environment. As investors await further developments, Fangdd’s ability to navigate challenges while capitalizing on emerging opportunities will undoubtedly shape its trajectory in the days to come.

  • Fangdd Network Group Ltd. (DUO) Reach New Lows on 2021 Year-End Earnings Report

    On April 22, the real-estate services provider, Fangdd Network Group Ltd. (DUO) filed its annual report on Form 20-F for fiscal 2021 with the SEC. Disappointed in the year-end earnings, investors had the stock plunge down to new lows in the after-hours on Friday.

    Source: iStock

    Thus, while the stock closed the regular session in the green at a price of $0.2924, it plunged to a new low of $0.2400 in the after hours. Consequently, DUO declined by a huge 17.92% in the after-hours session as 346.88K shares exchanged hands.

    DUO’s 2021 Earnings Preview

    According to the annual report, the company’s consolidated total revenue was RMB942.38 million with a YOY decline of 61.6%. This figure declined from the year-ago revenue of RMB 2,451.29 million while the pre-pandemic revenue was RMB3,599.43 million in 2019. Thus, it shows that the company has still not reached its pre-pandemic levels amid increasing competition and the resurgence of Covid-19 in China.

    Moreover, DUO reported a net loss of RMB1,202.99 million for the year ended on December 31, 2021. Comparatively, the company had a net loss of RMB221.35 million a year ago and RMB510.38 million in 2019.

    Furthermore, the foregoing resulted in a gross profit decline of 74.3% in 2021 to RMB106.5 million. Hence, the gross margin for the year was 11.3% against 16.9% in 2020.

    At the end of the year, the company’s cash, cash equivalents, and restricted cash totaled RMB516.2 million while short-term investments were RMB6.2 million.

    What Does the Future Hold?

    The company does not see profitability in the future based on its history of losses and negative cash flows from operating activities. On top of the increasing losses, while the cash flow from operating activities was positive in 2019, it has been negative in both 2020 and 2021.

    As the company continues to face headwinds from the spiking inflation and increasing competition amid the resurgence of Covid-19, it is working on improving its financial position. DUO plans to continue taking new business initiatives for introducing more SaaS solutions in the market. Additionally, the company also plans to invest in developing its real estate transaction digitalization services.

    Conclusion

    With its diminishing financial position and continued headwinds from multiple sides, the company seems to be up for further losses in the near term. With the near-term outlook still remaining gloomy, DUO stock also plunged to new lows on Friday.

  • Fangdd Network Group Ltd. (DUO) stock Under Corrections After Hours. Here’s why?

    On March 16, Fangdd Network Group Ltd. (DUO) stock fell under corrections in the after-hours due to its huge gain during regular trading. The stock made some big gains in the prior session on reports of support from the Chinese government for keeping the markets stable.

    Thus, the stock gained a huge 53.44% during the regular trading session after fluctuating between $0.3790 and $0.5750. DUO closed the session at $0.4100 at a super active volume of 86.69 million shares. The session’s volume was a huge 4,208% of its average 2.06 million shares. Following this, the stock succumbed to corrections in the after-hours and lost 6.34%. Hence, the stock was trading at $0.3840 apiece in the after-hours on Wednesday.

    The China-based investment holding company, Fangdd Network Group Ltd. has a market capitalization of $21.34 million.

    What Happened?

    Most Chinese stocks have had a very rough time lately due to China’s relations with Russia. The speculations of China’s support for Russia as Russia invades Ukraine, had the investors under continuous fear of added sanctions and further market frenzy. Like most Chinese stocks, DUO had also been in a persistent downward spiral for the past few weeks.

    On Wednesday, reports emerged about the Chinese government’s promise for support towards market stability. According to a state-run media report, the country’s financial stability and development committee also had a meeting recently. Moreover, the Chinese government has promised to roll out support for the economy to keep markets stable. Consequently, Chinese stocks including DUO emerged in hefty seismic moves on Wednesday. But the huge upsurge of DUO ultimately led to its downfall in the after-hours due to corrections.

    DUO Company News

    Source: WAATAgNet

    On January 7, the company announced receiving a notice from Nasdaq, dated January 4, 2022. According to the notice, DUO is in non-compliance with Nasdaq Listing Rule 5450(a)(1) for the minimum bid price requirement. The non-compliance resulted due to the company’s shares closing below $1.00 for consecutive 30 days. Therefore, Nasdaq gave the company a grace period of 180 days to regain compliance with the listing requirements, till July 5, 2022.

    The company will regain compliance with Nasdaq if its closing bid price remains $1.00 or above for consecutive 10 days during the grace period. Additionally, if the company failed to regain compliance in the required time, it may be eligible for a further extension of 180 days.

  • Pre-Market Cues: 29 Stocks Roaring for Change On December 7th

    Pre-Market Cues: 29 Stocks Roaring for Change On December 7th

    HL Acquisitions Corp. (HCCH) is up more than 5.38% at $25.25 in pre-market hours Monday December 07, 2020. The firm recently reported that that the shareholders of HL have approved the business combination between HL and Fusion Fuel at an annual general meeting of shareholders. The stock had jumped over 27.65% to $23.96 in the last trading session.
    China HGS Real Estate Inc. (NASDAQ: HGSH) shares are trading down -17.83% at $2.12 at the time of writing. Company’s 52-week ranged between $0.48 to $4.40.
    Cinedigm Corp. (CIDM) grew over 4.07% at $0.7269 in pre-market trading today after announcing eight additional linear streaming channels are now available on Rad’s fast-growing global streaming platform.
    Before the trading started on December 07, 2020, PDS Biotechnology Corporation (PDSB) is down -7.49% to reach $2.47. It has been trading in a 52-week range of $0.62 to $4.98.
    Pioneer Power Solutions Inc. (PPSI), a Electrical Equipment & Parts company, dropped about -6.59% at $4.11 in pre-market trading Monday. The company lately declared that it has finalized a conclusive settlement with Myers Power Products, Inc., a specialty electrical products manufacturer.
    Castor Maritime Inc. (NASDAQ: CTRM) shares are trading down -3.25% at $0.1935 at the time of writing. Company’s 52-week ranged between $0.11 to $2.60.
    RMG Acquisition Corp. (RMG) is down more than -5.62% at $17.31 in pre-market hours Monday December 07, 2020. The firm recently announced the nomination of Paul Williams to serve on the board of directors of Romeo Power upon consummation of merger. The stock had jumped over 19.95% to $18.34 in the last trading session.
    Before the trading started on December 07, 2020, Energy Fuels Inc. (UUUU) is up 6.2% to reach $2.74. It has been trading in a 52-week range of $0.78 to $2.42.
    Safe-T Group Ltd (SFET) stock soared 20.49% to $1.47 in the pre-market trading. The technology firm recently declared that it will hold a virtual event – webinar with Fujitsu, a global information and communication technology (ICT) company, on December 10, 2020.
    Before the trading started on December 07, 2020, ENGlobal Corporation (ENG) is up 4.42% to reach $1.89. It has been trading in a 52-week range of $0.46 to $4.32.
    Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) shares are trading down -6.96% at $1.47 at the time of writing after reporting that it will provide its QuadSight® multispectral vision solution, and is expected to receive approximately one million USD from the European Commission through the Horizon 2020 framework program. Company’s 52-week ranged between $0.46 to $1.95. Analysts have a consensus price target of $16.
    Hennessy Capital Acquisition Corp. IV (HCAC) is up more than 16.13% at $15.62 in pre-market hours Monday December 07, 2020. The stock had jumped over 10.52% to $13.45 in the last trading session.
    Sesen Bio Inc. (SESN) is up more than 4.58% at $1.6 in pre-market hours Monday December 07, 2020. The firm recently revealed partnership with Hikma Pharmaceuticals for the commercialization of Vicineum™ in the Middle East and North Africa. The stock had jumped over 15.04% to $1.53 in the last trading session.
    Before the trading started on December 07, 2020, Apache Corporation (APA) is down -2.5% to reach $14.8. It has been trading in a 52-week range of $3.80 to $33.77.
    BlackBerry Limited (NYSE: BB) shares are trading down -2.7% at $8.29 at the time of writing after declaring that it will report results for the third quarter of fiscal year 2021 at 5:30 p.m. ET on Thursday, December 17, 2020. Company’s 52-week ranged between $2.70 to $9.69.
    TechnipFMC plc (NYSE: FTI) shares are trading down -3.41% at $9.92 at the time of writing. Company’s 52-week ranged between $4.49 to $21.84.
    Nesco Holdings Inc. (NSCO) tumbled over -12.41% at $5.86 in pre-market trading today as the firm revealed that it has entered into a definitive agreement to acquire Custom Truck One Source (“CTOS”) for a purchase price of $1.475 billion.
    Penn Virginia Corporation (PVAC) is down more than -2.05% at $9.55 in pre-market hours Monday December 07, 2020. The stock had jumped over 7.50% to $9.75 in the last trading session.
    Uranium Energy Corp. (UEC) stock soared 11.57% to $1.35 in the pre-market trading after reporting that the U.S. Senate Committee on Environment and Public Works (EPW) has approved a bipartisan bill entitled the American Nuclear Infrastructure Act (ANIA). The most recent rating by Canaccord Genuity, on October 14, 2020, is a Speculative buy.
    Lyft Inc. (NASDAQ: LYFT) shares are trading up 2.67% at $47.33 at the time of writing. Company’s 52-week ranged between $14.56 to $54.50.
    Verb Technology Company Inc. (VERB) grew over 2.46% at $1.25 in pre-market trading today. The firm lately revealed that it will deliver a presentation at the Benzinga Global Small Cap Conference being held December 8-9, 2020.
    TransEnterix Inc. (TRXC) is down more than -7.22% at $0.47 in pre-market hours Monday December 07, 2020. The stock had jumped over 6.63% to $0.51 in the last trading session.
    FuelCell Energy Inc. (FCEL), a Electrical Equipment & Parts company, rose about 3.77% at $8.25 in pre-market trading Monday following the closing of public offering of 39,696,320 shares of common stock.
    Before the trading started on December 07, 2020, Senseonics Holdings Inc. (SENS) is up 9.28% to reach $0.4699. It has been trading in a 52-week range of $0.35 to $1.78.
    Before the trading started on December 07, 2020, The Macerich Company (MAC) is down -2.44% to reach $11.6 after declaring that the Company has earned Bureau Veritas SafeGuard™ Hygiene Excellence and Safety Certification for key properties. It has been trading in a 52-week range of $4.56 to $26.20.
    Southwestern Energy Company (SWN) stock plunged -2.33% to $2.93 in the pre-market trading. The most recent rating by UBS, on December 01, 2020, is a Sell.
    Gamida Cell Ltd. (GMDA) is up more than 7.6% at $7.5 in pre-market hours Monday December 07, 2020 after reporting in an oral presentation the updated and expanded results from a Phase 1 clinical study of GDA-201. The stock had jumped over 5.61% to $6.97 in the last trading session.
    Sintx Technologies Inc. (NASDAQ: SINT) shares are trading up 2.45% at $2.09 at the time of writing. Company’s 52-week ranged between $0.28 to $3.30.
    Matinas BioPharma Holdings Inc. (MTNB) grew over 12.84% at $1.23 in pre-market trading today after announcing collaboration with the National Institute of Allergy and Infectious Diseases to evaluate oral formulations of Gilead’s antiviral remdesivir utilizing Matinas’ LNC Platform delivery technology.

  • Fangdd Network (NASDAQ: DUO), reported a drop in Revenue of third-quarter fiscal results

    Fangdd Network (NASDAQ: DUO), reported a drop in Revenue of third-quarter fiscal results

    The top Chinese property tech firm, Fangdd Network Group Ltd. (NASDAQ: DUO), today revealed its financial report for the third quarter ended September 30, 2020.

    Revenue fell by 13.6 percent to US$120.6 million from US$144.06 million in the same period of 2019 in the third quarter of 2020.

    Revenue expenses in the third quarter of 2020 fell by 16.3 percent from US$113.8 million in the same period in 2019 to US$92.3 million. This decline was largely attributed to a decrease in commission payments charged to agents for services provided as a result of the decrease in transaction commissions.

    Gross profit fell by 3.3 percent to US$28.3 million in the third quarter of 2020 from US$30.21 million in the same span of 2019. In the third quarter of 2020, the operating margin rose from 21.0 percent in the same timeframe in 2019 to 23.5 percent.

    Operating costs in the third quarter of 2020, comprising US$3.8 million in share-based compensation expenditures, grew by 38.4 percent from US$18.54 million in the same timeframe in 2019 to US$24.9 million.

    In the third quarter of 2020, net income stood at US$3.2 million, compared to US$12.2 million in the same time frame in 2019.

    In the third quarter of 2020, non-GAAP net income was US$7.1 million, compared with US$12.1 million in the same period in 2019.

    Per American Depositary Share, basic and diluted net income was US$0.04 and US$0.04 respectively in the third quarter of 2020. In contrast, the basic and diluted net profits of the Company attributable to ordinary owners per ADS was US$0.30 and US$0.15, respectively, in the same period of 2019. Every ADS reflects the Company’s 25 ordinary shares in Class A.

    The organization estimates its sales to be between US$91.1 million and US$106.3 million for the fourth quarter of 2020. This outlook only represents the Company’s present and tentative expectations, which are subject to adjustment, on the demand and operating conditions.