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  • Crypto ATH and Top Movers

    Crypto ATH and Top Movers

    Given the shift in market sentiment, as well as increased bullish activity, a number of names in the crypto-sphere have been seeing skyrocketing prices. Some have gained to such an extent, such that they have broken all prior records, and achieved all-time highs (ATH). At the time of writing this newsletter, the following names stand as being the top ATH players.

    ASAN VERSE (ASAN) was the most recent ATH winner, given its staggering takeoff, which took it to $0.0001104, earlier today. It has been on a gradual upward curve for the last ten days since it was at a low of $0.000082. This hype surrounding ASAN comes from its listing on DigiFinex, two weeks ago, and all the persistent promotion surrounding the event.

    ATH coins

    Elan

    Elan has remained largely uneventful throughout the month of November, hardly ever venturing beyond the $1.37 price. It began a gradual upward climb with the onset of December, taking it to $2.49, and then a massive price explosion in the last two days, taking it to its ATH of $5.32. This heightened interest comes after recent milestone achievements such as a worldwide patent application and the announcement of crucial partnerships.

    Fileshare Platform

    Fileshare Platform (FPC) has been seeing violent jerks in price throughout the prior month. In the last two weeks, however, its crypto price trajectory began showing a distinct upward climb, that has been taking it to new heights every day. Most recently, it raised the bar once again, taking its all-time high price to $1.72. It must be pointed out, however, that this climb comes despite any announcements about the project being released, which raises concerns about the sustainability of such a rise.

    Football Fan App

    Football Fan App (FNC) has been seeing a gradual incline in its price trend throughout the prior month, as the FIFA world cup has been progressing in Qatar. This gradual climb picked up pace in recent days, as football fever began gaining heat, with teams entering the knockout round. With France winning the semi-final against Morocco, the FNC price exploded, making it to an all-time high of $0.01157.

    Krypton DAO

    Krypton DAO (KRD), which has been in the trade since September, has been taking on an explosive price climb in recent weeks. It has not only managed to successfully sustain these epic gains but has continuously been pushing upwards too. Today it set a new ATH point by touching $1.32, a feat never achieved before. The Krypton DAO has several crypto milestone points scheduled for the upcoming weeks, which explains the growing hype surrounding it.

    Top Movers (24H)

    With bearish sentiment permeating across the market, another area where winners have been observed, in addition to ATH coins, is that of top movers. These represent those cryptocurrencies that have taken on massive climbs in price, during the last 24 hours. At the time of writing this newsletter, the top movers of the prior day are as follows:

    Strong

    Strong was the top winner of the day, considering its price rise from $4.70 to a whopping $11.60. With its trade volume at almost $4 million, which is the highest it has been today, it is evident that STRONG’s price is far from stable at present. In fact, in the last 24 hours, the cryptocurrency has seen its trade volume balloon by 1900%. This hype surrounding STRONG comes after its announced partnership with Fantom Foundation.

    YFDAI.FINANCE

    YFDAI.FINANCE saw an incredible climb during the day which took it from $52.31 to a high of $213.90. At its peak during the day, this crypto growth translated to a gain of an incredible 309%. However, as the day progressed, and the bears and the bulls continued to battle it out, these gains had leveled at 134%, bringing YFDAI.FINANCE at a stable price of $122.50. The cryptocurrency presently holds a trading volume exceeding $21 million.

    MobileCoin

    MobileCoin is also a highly noteworthy crypto name on today’s list, not necessarily due to the gain it acquired, but primarily because of its trade volume of over $60 million. At one point, MOB saw a continuous price take-off from $0.91 to $1.36, putting its rise on that point at over 49%. However, the trajectory took a more stable route throughout the day, unable to sustain the peak it had achieved. By the end of the day, MOB net gains stand at 32%.

    Christmas Doge

    Christmas Doge is another clear crypto winner from today, considering that it successfully doubled its price from $0.000010 to $0.000022, all within 24 hours. In fact, earlier during the day, XDOGE hit $0.000118, at which point its net gains amounted to 1080%. The project has just begun its journey in the secondary market, given its launch this week, and has gotten off to a hot start.

    Unicly

    Unicly (UNIC) today made it from $4.99 to an impressive high of $7.56, translating to crypto gains of almost 52%. The project has been seeing growing interest surrounding it which is evident from the rise in its trade volume, which went up from $600,000 to over $1.6 million, in 24 hours. Today’s price rise for UNIC reflects its highest gain enjoyed in over an entire month

  • LakeLand Financial Corp. (LKFN) Stock on the Rise Following Promising Q2 2021 Financial Reports and Quarterly Developments

    LakeLand Financial Corp. (LKFN) stock prices were up 9.49% some time after the market opened on July 28th, 2021, bringing the price per share up to USD$64.95 early on in the trading day.

    LKFN Stock Approves Cash Dividend

    July 13th, 2021 saw LKFN stock’s board of directors approve a cash dividend for the second quarter of 2021. The dividend has been set at USD$0.34 per share and is payable on August 5th, 2021 to shareholders of record as of July 25th, 2021. The second-quarter dividend is the same as the dividend paid out for the first quarter of 2021, reflecting a 13% increase from the dividend rate from the prior year’s quarter.

    Share Repurchasing Program

    LKFN stock’s board of directors also approved the reauthorization and extension of a share repurchase program on April 13th, 2021, with the program scheduled to run through to April 30th, 2023. As per the program, LKFN has been authorized to repurchase from time to time, as the company sees fit, shares of its common stock. The aggregate purchase price set by the share repurchasing program is a maximum of USD$30 million. 2021 did not see the repurchasing of any shares, while the first quarter of 2020 saw 289,101 shares being repurchased at an average price per share of USD$34.66.

    LKFN’s Allocation of Resources

    LKFN stock has deployed USD$600 million since late 2020 in excess liquidity to the company’s investment securities portfolio. This move was a response to the increase in deposit balances that started in 2020 and has carried over to 2021. The unprecedented solid liquidity position has afforded the company unique challenges, resulting in the allocation of the excess liquidity to the investment portfolio without any significant impact to LKFN’s asset sensitive balance sheet

    Commercial Line Utilization

    The company’s commercial line utilization was up from 39% in March 2021 to 41% in July 2021. Despite the improvement, this is still considerably lower than over the past several years. Over the course of the past 8 years, LKFN stock has averaged a commercial line utilization of 49%.

    Future Outlook for LKFN Stock

    Armed with solid financials for the second quarter of 2021, LKFN is keen to facilitate continued developments that will instill shareholder confidence. The company is keen to spearhead its fiscal performance as the global economy slowly returns to pre-pandemic levels. Investors are hopeful that management will be able to usher in further growth over the long term.

  • Triterras, Inc. (TRIT) Stock on the Rise as it Continues Expansion of Network of Strategic Partners

    Triterras, Inc. (TRIT) stock prices were up 6.32% as of the market close on July 21st, 2021, bringing the price per share up to USD$5.55 at the end of the trading day. Subsequent premarket fluctuations have seen the stock rise by 7.57%, bringing it up to USD$5.97.

    Collaboration with essDOCS

    July 22nd, 2021 saw the leading fintech company for trade and trade finance company announce its collaboration with essDOCS, a global trade management company that prides itself on its paperless operation. The agreement will facilitate the acceleration of the use of digital trade documents for the company’s global community of commodity traders. Aiming to make bulk cargo trading paperless and more efficient, essDOCS allows traders to digitize trade operations and finance processes regardless of cargo type.

    Details of the Agreement

    This is the latest in a string of moves by TRIT to foster growth as it builds out end-to-end services for its online marketplace, which is designed to connect and enable SME businesses, corporates, multinationals, and their lenders to trade online and digitally finance their commodity trading, logistics operations, and supply chains. As per the arrangement, the company will immediately integrate essDOCS’ Cargodocs electronic document capabilities onto Kratos. This will allow the company’s customers to create, review, and approve a paper or electronic bills of lading (eB/L) with their supply chain.

    Increased Visibility

    With the onset of the global coronavirus pandemic having exacerbated shipping costs and delays, there has been increasing awareness on the advantages of fully digitized trading operations. Trade stockholders using essDOCS’ CargoDocs solution, the world’s largest electronic Bill of Lading network, will be able to transfer the eB/L through the trade chain. Transfers can be made between carriers, exporters, financing parties, and importers in as little as three minutes.

    Recent Partnerships

    May 2021 saw the company announce its strategic investment and partnership with Electronic Cash and Payment Solutions, an open banking platform catering to India’s burgeoning Micro and SME marketplace. The series of partnerships have significantly expanded the company’s global footprint with its penetration of the Indian MSME marketplace. The company also recently announced its acquisition of Invoice Bazaar and its partnership with Western Union Business Solutions.

    Future Outlook for TRIT

    Armed with the latest in a growing network of strategic collaborations, TRIT is poised to capitalize on the expanded scope of opportunities made available to it. The company is keen to continue its trajectory of success by further facilitating expansion in its network of partners. Investors are hopeful that management will be able to facilitate significant and sustained increases in shareholder value.

  • Magyar Bancorp, Inc. (MGYR) Stock Continues Downward Trend Following Completion of Conversion of MHC

    Magyar Bancorp, Inc. (MGYR) stock prices were down 5.00% shortly after market trading commenced on July 15th 2021, bringing the price per share down to USD$10.96 early on in the trading day.

    Conversion of MHC

    July 14th 2021 saw the company announce the completion of the conversion of MHC from the mutual holding company to the stock holding company form of organization, with the company having completed its related stock offering. Upon the closing of the conversion, the company ceased to exist, effective from the conversion onwards. July 12th 2021 saw the company announce the results of its stock offering, with 7,098,070 shares of the company’s common stock outstanding as a result of the conversion, excluding the consideration of fractional shares.

    Net Income Reports

    Net income for the quarter ended March 31st 2021 was up 394% as compared to the prior-year quarter. Q2 of fiscal 2021 reported net income in the amount of USD$1.506 million, up from the USD$305,000 reported for the second quarter of the fiscal year 2020. Net income for the six-month period ended March 31st, 2021 was up to USD$2.843 million, as compared to the USD$858,000 reported for the same six-month period over the prior year.

    Contextualizing Income Improvements

    The benefits of the Paycheck Protection Program in conjunction with the company’s effective management of its balance sheet resulted in a 31 basis point year-over-year increase in net interest margin, despite historically low-interest rates. The 394% increase was driven, in part, by fees recognized by MGYR from its participation in the Paycheck Protection Program, as well as its role in the recently concluded Middlesex County Small Business Relief Grant.

    Maintaining Momentum

    In accordance with the company’s strong earnings growth, the company’s book value is up 7% as of the end of Q2 of fiscal 2021, as compared to the prior-year quarter. The company expects to see a continuation of its positive earnings momentum through the year as its income is augmented a second round of the PPP, in addition to additional non-interest income opportunities through the sales of guaranteed portions of SBA loans.

    Future Outlook for MGYR

    With the completion of the recent conversion of MHC, MGYR is poised to capitalize on the expanded scope of growth afforded to it as a result. The company is keen to leverage the resources at its disposal to facilitate significant and sustained increases in shareholder value with the effective leveraging of its resources.

  • Westwood Holdings Group, Inc. (WHG) Stock Surges Following USD$25 Per Share Bid by Americana Partners

    Westwood Holdings Group, Inc. (WHG) stock prices were up 19.79% some time after market trading commenced on July 14th 2021, bringing the price per share up to USD$23.43 early on in the trading day.

    Americana’s Bid

    July 14th, 2021 saw Americana Partners wealth manager make a USD$25 a share bid for WHG, representing a massive 28% premium to acquire the publicly traded financial advisory and mutual fund firm and turn it into a private company. The all-cash offer for the company by Americana will see the acuiqisiont of approximately USD$15 billion in assets under its management as of June 2021. With the company being valued at almost USD$165 million, WHG has not yet engaged with Americana.

    Americana’s Motivation

    While the company’s stock price rose by an impressive 37% since January, Americana believes that the company has produced negative returns over the past three and five-year periods. Americana also maintains that the company could benefit from being out of the spotlight of public markets, facilitating better financial performance and returns on shareholder investments.

    Building Towards the Merger

    Based out of Houston, Americana has plans to expand its scope across Texas. To facilitate this expansion, it is eyeing the company’s wealth and trust businesses, which it hopes to incorporate into its efforts. The bid came shortly after JCP Investment Management, the company’s biggest investor, began to pressure WHG management and leadership to consider alternatives for the company, including a sale, more publicly.

    Scope of Merger

    A regulatory filing from April 2021 saw the owner of JCP, which owns 10.37% of WHG, report his intentions to communicate with management and the board in regard to strategic options available to them. 2020 set records for the wealth sector, with more than 200 deals being reported to have been completed. Americana came into existence in 2019 when its principals spun off from Morgan Stanley. The company has roughly USD$4.5 billion in assets under its management.

    Future Outlook for WHG

    Armed with a potential merger that will see the company’s equity value skyrocket, WHG is poised to capitalize on the confidence inspired by Americana’s bid. Current and potential investors are hopeful that management will be able to leverage its resources and expertise in order to make an effective strategic decision for the company that will ensure long-term and organic returns to shareholder investments.

  • Howard Bancorp, Inc. (HBMD) Stock Surges Following Announcement of Strategic Merger with FNB

    Howard Bancorp, Inc. (HBMD) stock prices surged by 28.30% shortly after market trading commenced on July 13th, 2021, bringing the price per share up to USD$20.04 early on in the trading day.

    Merger with FNB

    July 13th, 2021 saw the company announce its signing of a definitive merger agreement that would see FNB acquire Howard Bancorp, including its wholly-owned banking subsidiary, Howard Bank. The all-stock transaction will see each share valued at USD$21.96, coming out to a fully diluted market value of roughly USD$418 million, reflecting the company’s closing stock price as of the market closing on July 12th, 2021.

    Details of Merger

    Based out of Baltimore, Howard boasts roughly USD$2.6 billion in total assets, USD$2 billion in total deposits, and USD$1.9 billion in total loans and leases as of March 31st, 2021. The company operates 13 full-service banking offices spread out across Baltimore and the greater Washington, D.C., area. The strategically significant merger is expected to facilitate the continuation of the company’s growth trajectory, as well as consolidating FNB’s historic presence in the Mid-Atlantic Region.

    Scope of Acquisition

    On a pro-forma basis, the proposed merger is expected to result in FB reporting roughly USD$41 billion in total assets, USD$32 billion in deposits, as well as USD$27 billion in total loans. As per the merger agreement, that has been unanimously approved by both companies’ Boards of Directors, shareholders of HBMD will be entitled to receive 1.8 shares of FNB common stock for each already owned share of Howard’s common stock.

    Consolidated Market Presence

    The exchange ratio is fixed, with the transaction expected to qualify as a tax-free exchange for HBMD’s stockholders. Concurrently with the parent company merger, HBMD will also merge with and into FNB’s subsidiary, First National Bank of Pennsylvania. Cumulatively, the combined entity will boast the sixth-largest deposit share in the Baltimore market, consolidating their strong presence in the market. Furthermore, it will present the companies with the opportunity to deliver an unprecedented experience for its customers, communities, and dedicated teams.

    Future Outlook for HBMD

    Armed with the fortuitous pending merger, the company is poised to capitalize on the expanded scope of opportunities it finds at its disposal. HBMD is keen to leverage its additional resources in a bid to facilitate significant and sustained increases in shareholder value over the long term.

  • Cuentas, Inc. (CUEN) Stock Dips After Exercising of Warrants from February 2021 Public Offering

    Cuentas, Inc. (CUEN) Stock Dips After Exercising of Warrants from February 2021 Public Offering

    Cuentas, Inc. (CUEN) stock prices were down 14.40% shortly after market trading commenced on July 12th, 2021, bringing the price per share down to USD$4.16 early on in the trading day.

    Public Offering

    July 12th, 2021 saw the company announce the generation of USD$6.2 million from the exercising of warrants issues earlier in February of 2021. The warrants were issued in relation to the company’s underwritten public offering of 2,790,697 units, with each unit priced at USD$4.30 per unit. The offering raised roughly USD$12 million, before the deduction of expenses related to the offering. The warrants started trading on the Nasdaq Capital Market under the ticker CUENW since February 2nd, 2021.

    Inclusion in WaveMax Network

    WaveMaxannounced having been selected by TelcoDR as a part of its showcase of the most innovative mobile technologies at the Mobile World Congress in Barcelona. Cuentas has signed a contract to rollout SharedFi across 170 test locations in the New York City-Tristate area. The testing period will last 6 months, the success of which will result in the collaborative installation of 1,000 additional Bodega Stores in a 50/50 joint venture.

    Synchronicity with Execon

    The WiFi managed services company, Execon, will facilitate the implementation of WiFi6 infrastructure and manage and monitor the broadband internet at various Bodega stores. Execon will connect participating stores, while Cuentas will connect customers via the WaveMax platform, driving customer savings and greater value. The WaveMax mobile ecosystem will encourage an enhanced user and shopping experience, with Cuentas customers having access to discounts for purchases and rewards, this driving in greater net revenues.

    Healthy Financials

    The company’s balance sheet for the first quarter of 2021 improved drastically, largely as a result of a successful USD$12 million capital raising venture, The underwritten public offering saw the generation of USD$10.6 million in net proceeds. The capital raised was allocated towards the repayment of all of its financial debt, including USD635,000 to Labrys, USD$378,000 to Dinar Zuz, and a USD$260k convertible loan with interest to A.Ghershony.

    Future Outlook for CUEN

    Armed with a solid liquidity position, the company is poised to capitalize on the opportunities afforded to it by the expansive scope of its collaborative ventures. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • SGOCO Group, Ltd. (SGOC) Stock Skyrockets as Latest Possible Target of Meme Stock Phenomenon

    SGOCO Group, Ltd. (SGOC) Stock Skyrockets as Latest Possible Target of Meme Stock Phenomenon

    SGOCO Group, Ltd. (SGOC) stock prices were up by an astounding 279.46% as of the market closing on July 9th, 2021, bringing the price per share up to USD$9.79. Subsequent premarket fluctuations have seen the stock surge by 44.02%, bringing it up to USD$14.10.

    About SGOC

    SGOC manufactures a variety of offerings, primarily phase change storage systems. Consisting of a number of businesses based in Hong Kong, SGOC focuses on VR technology, energy saving technology, mortgage lending, property investment, and a host of other growth segments across various markets. The company is continuously allocating resources towards the building of an ecosystem of sustainable growth that results in healthy gains in shareholder value.

    SGOC Financials

    The penny stock company is based in Hong Kong, with a market cap in excess of USD$1 billion. This is despite the company reporting only USD$4 million in revenue for 2020, ultimately proving itself to be unprofitable at the moment. The company also reported a liquidity position of USD$3 million, indicating a balance sheet that does not reflect its inflated market cap.

    SGOC as the Latest Meme Stock

    The company’s stock has recently skyrocketed by more than an astounding 500%. This is despite an apparent absence of significant news about the company or changes in SGOC fundamentals. Without proper contextualization, it seems possible that SGOC has become the latest target of the meme stock phenomenon that has swept through the market . This is reflected by the jump from an average 10-day trading volume of company stock in the amount of 664,000 to more than 100 million.

    SGOC Short Interest

    The meme stock phenomenon is driven by retail investors who target underdog companies in order to execute a coordinated short squeeze. Historically, meme stocks have exhibited a high short interest, which is not the case with SGOC. The company indicated a short interest level of 8%, casting doubt on its status as a meme stock. Nevertheless, data from Fintel reports a short volume ration of more than 25%. Even if the growth is not driven by the meme stock phenomenon, the limited evidence available does suggest the influence of momentum and day traders.

    Future Outlook for SGOC

    Refusing to look a gift horse in its mouth, SGOC is poised to capitalize on the expanded opportunities afforded to it in light of its recent explosion of equity value. Despite the inherent risk and volatility associated with meme stocks, the company is keen to allocate resources towards maintaining its trajectory of fortuitous success by ushering in more organic growth moving forward.

  • Cohen & Company, Inc. (COHN) Stock Trends Lower After Period of Heightened Trade Activity Cools Off

    Cohen & Company, Inc. (COHN) Stock Trends Lower After Period of Heightened Trade Activity Cools Off

    Cohen & Company, Inc. (COHN) stock prices were down by a marginal 6.65% some time after market trading commenced on July 9th, 2021, bringing the price per share down to USD$25.25 early on in the trading day.

    Net Income

    Net income for the first quarter of 2021, ended March 31st, 2021, came out to USD$9.4 million, representing a net income of USD$6.98 per diluted share. This is comparable to the USD$3.1 million net loss reported for the prior-year quarter, representing a net loss of USD$7.64 per diluted share.

    Revenue Reports

    Revenues for the quarter were up USD$36.3 million as compared to the prior quarter, with the year-over-year increase being largely attributable to an increase of USD$1.1 million in net trading revenue. A USD$1.7 million decrease in asset management revenue also contributed to the difference, with the decrease being related to an incentive allocation earned by the company’s SPAC funds manager in the prior quarter.

    Dissecting Comparative Revenue Reports

    Further compounding the difference was an increase of USD$0.1 million in new issue and advisory revenue associated with insurance asset origination in Europe and the U.S. Most significantly, the company reported USD$36.8 million in the increase in principal transactions related to the closing of COHN’s second sponsored SPAC in February 2021. The move generated USD$73.2 million of principal transactions revenue for Q1 2021, partially offset by a reduction of USD$37.8 million in principal revenue generated from the closing of the company’s first sponsored insurance SPAC in the previous quarter.

    Liquidity Position

    The company reported USD$154.7 million in total equity as of March 31st, 2021, up from the USD$101.4 million reported as of December 31st, 2020. the non-convertible non-controlling interest component of total equity was USD$45 million as of March 31st, 2021, while the company reported USD$27.8 million as of December 31st, 2020. Accordingly, the total equity excluding the non-convertible, non-controlling interest component was USD$109.7 million as of March 31st, 2021, a USD$36.1 million increase from the USD$73.6 million reported as of December 31st, 2020.

    Contextualizing COHN and its Future Outlook

    With promising financials reported earlier in the quarter, COHN stocks have seen trading volume surge recently, positively impacting the company’s equity value. With the activity not being volatile enough to attribute to the meme stock phenomenon, the company seems to have caught the eyes of day traders who are capitalizing on the snowballing upward trajectory of the stock price. Long term investors are hopeful that the company will be able to leverage its resources to usher in more organic growth over the long term.

  • Staffing 360 Solutions, Inc. (STAF) Stock Skyrockets Following Announcement of Reverse Stock Split

    Staffing 360 Solutions, Inc. (STAF) stock prices were down by 7.43% as of the market closing on June 30th, 2021, bringing the price per share down to USD$0.5744 at the end of the trading day. Subsequent pre-market fluctuations saw the stock skyrocket by a staggering 552.86%, bringing it up to USD$3.75.

    Reverse Stock Split

    June 30th, 2021 saw the company announce its intent to implement a reverse stock split of its common stock at a ratio of 6 pre-split shares being consolidated into 1 post-split share. The stock split went into effect at 5:00 pm EDT on June 30th, 2021, with the company’s shares continuing to be traded on the NASDAQ Capital Market under the STAF ticker symbol. The shares will begin trading on a split-adjusted basis when the market opens on July 1st, 2021.

    Details of the Reverse Split

    The company’s Board of Directors were authorized to effect a reverse stock split on June 21st, 2021 at a special meeting of stockholders, with the amendment to the Certificate of Incorporation allowing for a ratio of at least 1-for-2 and not more than 1-for-20. While the stock split will not affect the percentage interest of any stockholder in the company’s equity, there will be cases where stockholders will own a fractional share. In such cases, the share will be rounded up to the nearest whole number of shares. The number of common stock outstanding will go from 39,166,528 to 6,527,755.

    Loan Forgiveness

    The company recent reported having been granted full forgiveness by the Small Business Administration for the USD$10 million Paycheck Protection Program loan. The loan was given to Monroe Staffing Services, LLC, an indirect wholly owned subsidiary of STAF. Since, the company has applied for further forgiveness of USD$9.4 million in PPP loans, with management confident in their being written off. Cumulatively, STAF has achieved a 55% reduction in its debt over the past year.

    Q2 2021 Financial Reports

    STAF forecasts financial reports for Q2 2021, ended July 3rd, 2021, to indicate roughly 20% year-over-year growth in revenue up to USD$52 million. Gross profits for the quarter are also expected to be up by 20%, with reports of USD$457,000 in operating profit as compared to USD$1.5 million operating loss in Q2 2020.

    Future Outlook for STAF

    With the drastic change seen by its stock price as a result of the reverse stock split, STAF is poised to capitalize on its continued listing on the Nasdaq Capital Market. Investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.