STOCKS TELEGRAPH

Tag: FAMI

  • Farmmi Inc (FAMI) stock plunged in the pre-market. Here’s why

    The stock of Farmmi Inc (FAMI) closed the recent trading session at $0.1652, losing 4.73% from the previous trading session. On the last check, the stock remained bearish in the pre-market, losing 9.2% to $0.15. The stock kept moving between $0.16 and $0.18. The company reported the closing of a private placement. FAMI also filed form 6-K with SEC on 2 March 2022.

    Farmmi Inc is an organization that cycles and sells agrarian items. It develops and showcases shiitake and wood ear mushrooms and other consumable fungi items. These include bamboo growths, chestnut mushroom, trumpet royale, and lion’s mane mushroom. Further, the firm has a market capitalization of $92.15 million with 557.78 million pending shares. FAMI has its headquarter in Lishui, Zhejiang, China.

    FAMI News

    On 2 March 2022, FAMI declared the closing of its private placement agreement. The firm acquired the total amount of $6 million by selling 30 million common shares of the company. Further, the price of each stock was $0.20.

    Also, on 1 March 2022, FAMI declared to export the recent order of Shiitake mushrooms to the United States of America (USA). The CEO of FAMI, Yefang Zhang, stated that this is one more pleasant win for their sales group, as they influence their image and inventory network to catch extra learning experiences in key business sectors around the world. She added that the U.S. addresses a significant market, where purchasers have been willing to join fungi into their eating regimens and ways of life. Moreover, Ms. Zhang concluded that they see more space to run in the U.S, as they work to decisively build the volume and size of the orders.

    Financials

    FAMI published the fiscal performance for FY2021. The highlights of fiscal performance are

    • The total sales in FY2021 expanded by 38.54% to $39.29 from $28.36 in FY2020.
    • The company had a profit of $5.11 million in FY2021 versus $4.65 million in FY2020. Moreover, this marks an increase of 9.8%.
    • The EPS of 0.02 in FY2021 compared to $0.07 in FY2020.

  • Farmmi, Inc. (FAMI) stock gained in the current market; here is why?

    Farmmi, Inc. (FAMI) stock gained in the current market after getting new orders this month with a recent one from New York City. FAMI values at $0.17, gaining more than 2.75% compared to yesterday’s closing price. The stock closed at $0.18 at the end of the last trading session. The stock volume traded in the previous trading session was around 28.73 million shares. The current market cap of the company is approximately $104.98 million.

    FAMI: New York City Order

    Farmmi, Inc. (FAMI) announced in a press that its most recent order for dried sliced Shiitake mushrooms is from New York City. The company has received another significant export order.

    The company recently exported its dried sliced Shiitake mushrooms to different countries. On February 22, 16, and 09, 2022, the company received orders for its dried sliced Shiitake mushrooms from Dubai, Jordan, Israel.

    FAMI: Global Mushroom Industry

    Over the next decade, the global mushroom market is expected to grow at an annual rate of 9.5 percent, compared with a value of $46.1 billion in 2020. The increasing number of vegans are looking for protein-rich diets over the next several years, which will fuel the industry. 

    FAMI CEO’s Remarks

    Ms. Yefang Zhang, the company’s CEO, said that this is a great success for our sales team as we utilize our brand and supply chain to expand globally. The United States is a significant market for fungi, with customers eager to include them in their diets. We anticipate additional space to run in the US and other major markets as we deliberately grow order volume and size.

    Conclusion

    However, despite the worldwide tensions, the company’s stock price continues to rise. There is an ongoing crisis between Russia and Ukraine that has lately impacted the company’s shares. However, fresh orders are coming in, which is helping the firm stay up with its operational costs despite the current scenario, which can potentially disrupt the supply chain.

  • Farmmi, Inc. (FAMI) stock declined in the current market; here is why?

    Farmmi, Inc. (FAMI) stock declined in the current market; here is why?

    Farmmi, Inc. (FAMI) stock declined in the current market after Russia invaded Ukraine. Farmmi is an agriculture product supplier based in China. FAMI values at $0.15, losing more than 5.41% compared to yesterday’s closing price. The stock closed at $0.17 at the end of the last trading session. The stock volume traded in the last trading session was around 27.84 million shares. The current market cap of the company is around $92.81 million.

    FAMI Increasing Orders

    The company previously announced a few significant clientele gains. They said they got some new long-term clients who will order dried mushroom products in bulk. 

    On February 22, 2022, the company announced that its subsidiary Zhejiang Farmmi Biotechnology’s well-known dried Shiitake mushrooms had received a fresh order from a customer in Dubai.

    On February 16, 2022, FAMI announced that it got an order from its repeating customer. The order they got was for dried Shiitake mushrooms, and the order will be exported to Jordan. 

    On February 09, 2022, its subsidiary got an order for dried Shiitake mushrooms from a new customer based in Israel.

    FAMI: Global Mushroom Industry

    The worldwide mushroom market is predicted to increase at a CAGR of 9.5 per cent from 2021 to 2028, with a market value of $46.1 billion in 2020. Over the next several years, a growing number of vegans will seek a protein-rich diet, which is likely to drive the industry. The research source is Grand View Research.

    FAMI CEO’s Remarks

    Ms. Yefang Zhang. The company’s CEO said that their sales staff sees increasing order volume from returning and new consumers in everyday client interactions. Customer activity is robust, despite supply chain issues and shutdowns that hampered market development during COVID-19. They have done a terrific job assisting clients at this challenging time, strengthening our long-term ties.

    Conclusion

    The stock of the company is declining despite any significant business news. The company is an agricultural products company, and the ongoing conflict between Russia and Ukraine has caused the stock to decline. The ongoing situation can cause supply chain disruption, due to which its stock is down as of now. 

  • Record Fiscal 2021: Farmmi Inc. (FAMI) stock Soars After Hours

    On January 26, 2022, Farmmi Inc. (FAMI) reported its financial data for the fiscal year 2021. Consequently, the stock rebounded in the after-hours and soared high.

    Shares of the supplier of the agricultural products were gloomy during regular trading. FAMI stock closed the regular session on Wednesday at $0.1980, suffering a loss of 1.79%. Following the announcement, the stock rebounded to add a good 26.26% at an after-hours volume of 14.75 million. Hence, FAMI was trading at $0.25 per share in the after-hours on Wednesday.

    The China-based company, Farmmi Inc. has a market capitalization of $56.99 million. Currently, its 282.67 million outstanding shares stand at a year-to-date loss of 10.97% while losing 84.16% last year.

    FAMI’s Fiscal 2021 Results

    Total Revenue

    In the fiscal year ended on September 30, 2021, FAMI generated total revenues of $39.29 million. Thus, marking an increase of 38.5% or $10.93 year over year, against $28.36 million in the year before. This increase was a result of the company’s continued brand building and sales in PRC along with crucial international markets. Further, the pandemic containment in the country also played a role in it.

    Gross Profit

    Moreover, the company also reported a gross profit of $5.11 million in fiscal 2021. Therefore, showing an increase of 9.8% or $0.46 million year-over-year, against $4.65 in the previous year.

    Due to strategic pricing for stimulating customer orders and product mix, the overall gross margin was $13.0% for fiscal 2021. This shows a decrease of 3.4% from 16.4% in the previous year.

    Net Income

    Furthermore, FAMI reported a net income of $2.36 million (188% YOY growth) in fiscal 2021, against $0.81 million in the previous year. Resultantly, the net income per basic and diluted share was $0.02 in fiscal 2021, against $0.07 in fiscal 2020.

    Cash Balance

    At the end of the year, the company had $59.25 million in cash balance and $24.47 million in accounts receivable balance.

    FAMI’s Latest International Order

    On January 18, the company notified its subsidiary’s follow-on international product order. Zhejiang Farmmi Biotechnology Co., Ltd., which is a subsidiary of FAMI received another follow-on order from the company’s long-term customers. As per the order, the company’s products will be exported to Vancouver, Canada.

    Conclusion

    With the containment of the major pandemic situation in China, FAMI was able to build on its sales and brand image for continued growth. Hence, the company reported record revenue for fiscal 2021, making the stock soar in the after-hours on Wednesday.

  • Why is Farmmi, Inc. (FAMI) stock falling in Pre-Market today?

    Why is Farmmi, Inc. (FAMI) stock falling in Pre-Market today?

    Shares of the Farmmi, Inc. (FAMI) stock were falling in the pre-market today following the announcement of pricing of Upsized Underwritten Public Offering of ordinary shares by it. FAMI stock price saw a downtrend of 55.25% to drop at $0.35 as of this writing. FAMI stock dropped by 9.27% at the previous closing. Let’s have a look at current scenarios.

    Farmmi stock intends to sell its ordinary shares:

    FAMI stock on April 28, 2021, announced the pricing of an upsized underwritten public offering of its ordinary share according to which FAMI intends to sell 140,000,000 ordinary shares at a $0.30 price per share. The gross proceeds resulting from this offering would be approximately $42.0 million without deduction of underwriter discounts and commissions along with other offering-related expenses.Net proceeds resulting from this offering would be used for the working capital as well as general corporate purposes of the Farmmi stock. The underwriter has been granted a 45-day option to purchase up to 15% additional ordinary shares of the FAMI stock under the public offering to cover the over-allotments and full exercise of this option would increase the gross proceeds from $42.00 million to $48.3 million in total. The offering is expected to end on May 3, 2021.

    Farmii sales expansion:

    Farmii stock expanded its sales through its subsidiary Zhejiang Forest Food Co., Ltd which had won the multiproduct order for export to Japan. The order is from the existing customer in Japan and related to Farmmi’s high quality richly flavored dried mushrooms, and dried black fungus. Japan is one of the top markets in the globe for Farmmi as the demand for the mushroom is very high there due to its use in various types of soup and food.

    Zhejiang has also won a couple of other multiproduct orders in April for export to U.S and Israel. Both of these orders were for richly flavored dried mushrooms as well as dried black fungus. The U.S customer is a well-established trading company the network of which is expanded to many hotels in the U.S.

    Conclusion:

    The announcement of upsized underwritten public offering is the obvious reason for the declining FAMI stock price. The recent developments of the Farmmi show that the FAMI stock is continuously expanding sales of its high-quality products around the globe. In the short long-term investors need to keep an eye on it. 

  • Farmmi, Inc. (FAMI) stock fell in the Tuesday aftermarket: Why did it happen?

    Shares of the Farmmi, Inc. (FAMI) stock continued the downtrend in the after-market trading session.FAMI stock price saw a downtrend of 9.77% to drop at 0.85 a share in the late hours of Tuesday, April 20, 2021. FAMI was gloomy in the previous trading session and dropped by 6.73% at closing. Let’s try to find the reason behind this fall.

    What’s happening?

    There is no new story since April 16, 2021, related to the FAMI stock to justify the current bearish sentiment. No analysts downgrade or shrank targeted per share price of FAMI stock has been reported recently. Such falls or rises in the stock market spread curiosity among the individuals as they always try to find the reason to calm themselves.

    Recent Development of FAMI stock:

    On April 16, 2021, FAMI  stock did the announcement of winning the multi-product order for export to the U.S. by its subsidiary Zhejiang Forest Food Co., Ltd. The order is related to the flavored dried whole and sliced mushrooms, and dried black fungus which are high-quality products of Farmmi stock. The customer is a well-established trading company that is supplying food products to major global hotel and supermarket chains. STANFORD hotel chain and the H-MART supermarket chain are the names of the favorite among them. This order would continue the sales momentum for the FAMI stock. Previously on April 08, 2021, Zhejiang received the multi-product order for dried whole and sliced Shiitake mushrooms, and black fungus from Israel.

    On April 13, 2021, FAMI stock announced the closing of an over-allotment option pursuant to which selling of which 970,419 ordinary shares happened at $1.15 per ordinary share price. The gross proceeds from this option as well as from previously closed underwritten public offering were totaled approximately $8.6 million without the deduction of underwriting discounts, commissions, and other related expenses of Farmmi stock.

    Conclusion:

    FAMI stock was gloomy in the aftermarket as well as the previous trading session. This fall is not attributed to any recent news related to Farmmi Inc. however its recent developments show that Farmmi is continuing the momentum of its agricultural products. In a nutshell, investors need to do both fundamental and technical analysis before adding this stock to their portfolio.

  • Farmmi Inc. ( FAMI) stock declines during pre-market trading session. Here’s to know why?

    Farmmi Inc. (NASDAQ: FAMI) stock showed a gain of 1.45% in the last trading session while in pre-market trading on Monday the FAMI stock was down by 11.43%. Farmmi is well-known supplier company of agricultural products, deals with the processing and retail of Shiitake mushrooms, Mu Er mushrooms, and other edible fungi.

    What is happening?

    Recently on March 19, FAMI made an announcement that they are planning to present ordinary shares for sale in an underwritten public offering and through this offering whatever net amount FAMI will generate would be used to fulfill the needs of general corporate and working capital. Farmmi cannot tell of whether or when the offering will be completed because of the reliance of this offering on market conditions. Also, Aegis Capital Corp. is working as the only book-running manager of the offering. This could might be the reason behind change that’s happening in FAMI stock price.

    Other Recent Developments

    • On March 2, Zhejiang Forest Food Co., a subsidiary of the Company, announced the shipment of a new order of shiitake mushrooms to one of its long-term customers who have several channels, with over 100 retail stores in China and Canada and a significant export business. The order was for two types of shiitake mushrooms.
    • FAMI on March 15, announced that its subsidiary Zhejiang Forest Food Co. has received a new multi-product order for its different and flavorous dried whole and sliced mushrooms, as well as dried black fungus. Farmmi’s products will be exported to the United States by “The customer” which is a trading company that supplies major global hotel and supermarket chains such as the STANFORD hotel chain and the H-MART supermarket chain.
  • Pre-Market Cues: 29 Stocks Roaring for Change On December 24th

    Pre-Market Cues: 29 Stocks Roaring for Change On December 24th

    ‎Ocugen Inc. (OCGN) stock plunged -8.85% to $2.37 in the pre-market trading after ‎reporting the appointment of a vaccine scientific advisory board comprised of leading academic and ‎industry experts in the vaccine field.‎

    ‎Sundial Growers Inc. (SNDL), a Drug Manufacturers – Specialty & Generic ‎company, ‎dropped about -3.24% at $0.4838 in pre-market trading Thursday.‎

    ‎Jaguar Health Inc. (NASDAQ: JAGX) shares are trading down -22.43% at $0.83 at the ‎time of writing after signing second agreement for $6 million non-dilutive financing transaction ‎involving the sale of royalty rights related to future Mytesi (Crofelemer) and Lechlemer revenue ‎Sstream. Company’s 52-week ranged between $0.19 to $1.08. Analysts have a consensus price target ‎of $2. ‎

    ‎Onconova Therapeutics Inc. (ONTX) stock moved down -7.92 percent to ‎‎$0.465 ‎in ‎the pre-market trading.‎

    ‎Acasti Pharma Inc. (ACST) tumbled over -4.77% at $0.4095 in pre-market trading ‎today following the announcement from the company that the Company’s management and Board of ‎Directors are unaware of any material change in the Company’s operations that would account for the ‎recent increase in market activity.‎

    ‎FuelCell Energy Inc. (FCEL) lost over -4.55% at $12.81 in pre-‎market ‎trading ‎Thursday ‎December 24, 2020.‎

    ‎Bionano Genomics Inc. (NASDAQ: BNGO) shares are trading down -3.87% at $0.745 ‎at the time of writing after the company announced publication revealing in side-by-side comparison ‎that method using PacBio sequencing ‎detects only 72% of the large structural variants detected by ‎optical Genome Mapping with Saphyr.‎ Company’s 52-week ranged between $0.25 to $1.39. Analysts ‎have a consensus price target of $1.25. ‎

    ‎Marathon Patent Group Inc. (NASDAQ: MARA) shares are trading ‎up ‎‎7.31% ‎at ‎‎$11.6 ‎at the time of writing. Company’s 52-week ranged between $0.35 to ‎‎$14.08. ‎Analysts ‎have ‎a ‎consensus price target of $7.50.‎

    ‎Zomedica Corp. (ZOM) is down more than -2.48% at $0.22 in pre-‎‎‎market ‎hours ‎Thursday December 24, 2020. The stock had jumped over 17.50% to $0.23 in ‎the ‎last ‎trading ‎session.‎

    ‎Nano Dimension Ltd. (NNDM) is up more than 7.18% at $9.4 in pre-‎‎market ‎hours ‎Thursday December 24, 2020. The stock had dropped over -3.41% to $8.77 in the ‎last ‎trading ‎session.‎

    Before the trading started on December 24, 2020, Senseonics Holdings Inc. (SENS) is ‎up 79.29% to reach $1.16 following its declaration of financial and operational business updates. It has ‎been trading in a 52-week range of $0.35 to $1.78.‎

    ‎Corbus Pharmaceuticals Holdings Inc. (CRBP) lost over -2.08% at $1.41 in pre-‎‎market ‎trading Thursday December 24, 2020.‎

    Before the trading started on December 24, 2020, Foresight Autonomous ‎Holdings ‎Ltd. ‎‎(FRSX) is down -20.87% to reach $4.55. It has been trading in a 52-week range ‎of $0.46 ‎to ‎‎$3.40.‎

    ‎Canaan Inc. (CAN) is up more than 2.12% at $3.85 in pre-‎market ‎hours ‎Thursday ‎December 24, 2020. The stock had dropped over -8.94% to $3.77 in the last ‎trading ‎session.‎

    ‎Avinger Inc. (AVGR) stock soared 76.25% to $0.61 in the pre-market trading after ‎reporting results of its annual meeting of stockholders. The most recent rating by Ladenburg ‎Thalmann, on March 09, 2018, is a Buy.‎

    ‎Triterras Inc. (NASDAQ: TRIT) shares are trading up 16.58% at $14.06 ‎at ‎the ‎time ‎of ‎writing. Company’s 52-week ranged between $7.70 to $15.17. Analysts have ‎a ‎consensus ‎price ‎target ‎of $23.‎

    ‎Tantech Holdings Ltd (TANH), a Household & Personal Products ‎company, ‎rose ‎about 3.29% at $1.57 in pre-market trading Thursday.‎

    ‎Tonix Pharmaceuticals Holding Corp. (TNXP) grew over 36.36% at $0.9 in pre-market ‎trading today following the announcement from the firm that it has completed the purchase of an ‎approximately 44-acre site in Hamilton, Montana, for the construction of a vaccine development and ‎commercial scale manufacturing facility. ‎

    ‎Gold Resource Corporation (GORO) stock moved down -6.85 percent to ‎‎$3.4 ‎in ‎the ‎pre-market trading.‎

    ‎Nikola Corporation (NKLA) gained over 1.8% at $15.3 in pre-market trading ‎Thursday December 24, 2020. The company reported, on Wednesday, that Nikola and Republic ‎Services (RSG) have discontinued their collaboration on refuse truck development.‎

    ‎Molecular Data Inc. (MKD) gained over 2.94% at $0.9027 in pre-‎‎‎market ‎trading ‎Thursday December 24, 2020.‎

    ‎Gevo Inc. (GEVO), a Specialty Chemicals company, rose about 1.03% at $2.94 in pre-‎‎‎‎‎‎market trading Thursday.‎

    ‎IZEA Worldwide Inc. (NASDAQ: IZEA) shares are trading up 3.9% at $1.6 at the time ‎of writing after reporting that it has set a Managed Services bookings record for the best Q4 in ‎company history. Company’s 52-week ranged between $0.07 to $3.13. IZEA Managed Services ‎Bookings Top 40% Growth in Q4 to Hit Record.‎

    ‎Novan Inc. (NOVN) grew over 6.81% at $0.737 in pre-market trading today.‎

    Before the trading started on December 24, 2020, ReWalk Robotics Ltd. (RWLK) is ‎up 9.2% to reach $1.9. The firm recently revealed that it has donated one of its ReStore Exo-suits to ‎Brooks Rehabilitation, located in Jacksonville, Florida. It has been trading in a 52-week range of $0.41 to ‎‎$2.71.‎

    ‎Inuvo Inc. (AMEX: INUV) shares are trading up 2.16% at $0.52 at the ‎time ‎of ‎writing. ‎Company’s 52-week ranged between $0.09 to $1.11. Analysts have a consensus price ‎target ‎of ‎‎$2.25.‎

    ‎Aurora Mobile Limited (JG) stock soared 8.16% to $4.11 in the pre-market trading ‎following the announcement of a partnership deal with Taikang Life Insurance Co., Ltd., to strengthen ‎smart insurance solutions with AI rechnologies. The most recent rating by Goldman, on March 06, ‎‎2019, is a Neutral.‎

    ‎fuboTV Inc. (FUBO) stock soared 3.73% to $54.55 in the pre-market ‎trading. ‎The ‎most recent rating by BMO Capital Markets, on December 23, 2020, is a Market perform.‎

    ‎Farmmi Inc. (FAMI) is down more than -2.61% at $1.12 in pre-market hours ‎Thursday December 24, 2020. The company recently revealed its sales win to multi-channel ‎customers with over 100 retail stores in China and Canada. The stock had jumped over 1.77% to $1.15 ‎in the last trading session.‎