STOCKS TELEGRAPH

Tag: SGH

  • Sky Harbour (SKYH) Stock Soared After Earnings

    Sky Harbour (SKYH) Stock Soared After Earnings

    Sky Harbour Group Corporation (NYSE: SKYH) stock demonstrated a substantial uptick of 10.68%, concluding the trading session on Friday at $8.19. This notable surge in Sky Harbour stock during the weekend session was catalyzed by the disclosure of its quarterly financial performance.

    SKY Harbour (SKYH) released its financial results for the third quarter of 2023 on Friday. In addition to the financial figures, the company disseminated operational highlights for the stated period and provided comprehensive business updates. Notably, SKYH maintains robust liquidity and capital resources, with cash, restricted cash, and US Treasury investments totaling approximately $130 million as of September 30, 2023.

    The closure of a $42.8 million PIPE common stock issuance on November 2nd significantly bolstered cash resources, serving as “equity growth capital” alongside anticipated future debt funding. As of November 8, 2023, the Houston, Nashville, and Miami facilities are leased at rates of 94%, 86%, and 63%, respectively. SKYH anticipates achieving full occupancy by the end of Q4 2023.

    The construction progress of phase 1 campuses in Phoenix and Denver is advanced and are expected March 2024 and May 2024 respectively. On the other hand, Addison (Dallas) Phase 1 recently commenced, with expected to be completed by December 2024. Besides the Chicago Executive Airport ground lease already announced, SGH has been in exclusive negotiations with five additional airports for ground leases.

    These locations, situated in key metro markets, are expected to yield average projected tenant rents surpassing those in the initial six campuses. The aggregate potential square footage of Sky Harbour hangar capacity at these five airports and Chicago Executive is estimated at approximately 1.5 million square feet. By Q4 2023, two of these ground leases will be finalized, and by Q2 2024, the remaining three will be finalized.

    The burgeoning project pipeline includes dozens of other airports, and the company faces the challenge of refining the Sky Harbour model while aggressively expanding operations across North America. For SKYH, acquiring high-quality sites is part of its ongoing mission. Its site acquisition team works diligently with equity partners to accomplish this goal.

  • SMART Global Holdings, Inc. (SGH) stock experienced increase of 3.75% – What’s going on?

    SMART Global Holdings, Inc. (SGH) experienced an increase of 3.75% in the premarket. Regarding SGH stock, the company confirmed a two-for-one share split where the shares will begin trading on a post-split basis on 2nd February 2022.

    Partnership of SGH with Meta – More About it

    On 24th January 2022, SGH announced its involvement in delivering AI-optimized architecture and professional services for Meta’s cutting-edge AI supercomputer, the AI Research SuperCluster. Penguin Computing, as among the global leaders in HPC and AI, is working with clients to push the boundaries of Intelligence architecture for ultra-scale environments. For more than 20 years, the company has been customizing HPC and AI solutions so that the customers, like Meta, can rely on the knowledge to help them improve their innovations.

    First Quarter Fiscal 2022 Results by SGH – How was the quarter?

    SGH announced first-quarter fiscal 2022 results on 4th January 2022. The company reported net sales of $470 million with a GAAP gross margin of 26%. Moreover, the non-GAAP gross margin came out to be 27%. The company maintained excellent momentum in the first quarter of fiscal 2022, reaching record sales and non-GAAP gross margins while delivering non-GAAP earnings per share near the top of the target range. Last but not the least, the board of directors approved a two-for-one stock split, which will increase the liquidity and broaden the stakeholder base.

    High-Performance AI Edge Camera Applications – What’s up?

    On 14th December 2021, SGH updated about the new beneficial tool named Qualcomm QCS8250 system-on-chip. With compatibility for Wi-Fi 6 and 5G connectivity, this gadget is optimized for optimum performance while balancing battery economy. The SMART Wireless Inforce 68A1 SoM makes connected intelligent edge technology accessible to a broader community of developers. Last but not the least, this device is meant for reducing the time and risk of incorporating premium tier AI performance into edge camera solutions.

    About SGH

    SMART Wireless Computing is a pioneer in the development of elevated, manufacturing embedded software solutions for the Internet of Things (IoT) applications. Moreover, SGH’s Intelligent Platform Solutions (IPS) division includes SMART Wireless Computing. With developing technologies and creative platforms that create value, boost productivity, and unify periphery, core, and cloud, IPS is speeding up the online transition process.

  • SMART Global Holdings, Inc. (SGH) Stock Trend Lower Despite Continuing to Surpass Earnings Estimates

    SMART Global Holdings, Inc. (SGH) Stock Trend Lower Despite Continuing to Surpass Earnings Estimates

    SMART Global Holdings, Inc. (SGH) stock prices were down by 4.84% as of the market closing on July 8th, 2021, bringing the price per share down to USD$53.31. After hours trading saw the stock dip by 4.80%, bringing it down to USD$50.75.

    Public Offering of Shares

    July 8th, 2021 saw the company announce the launch of an underwritten public offering, wherein 3 million of its ordinary shares will be sold by certain selling shareholders in association with Silver Lake. The company itself is not offering any of its shares up for sale and, therefore, will be collecting proceeds generated from the sale of shares by the selling shareholders.

    GAAP Income

    The third quarter of fiscal 2021 saw SGH report USD$437.7 million in GAAP net sales, up 56% from the same time period of the previous year. The quarter saw the company report a GAAP net loss of USD$7.2 million, representing a net loss of USD$0.30 per diluted share. This is compared to the USD$0.8 million GAAP net income reported for the third quarter of fiscal 2020, representing a GAAP net income of USD$0.03 per diluted share.

    Year-over-year Growth

    Non-GAAP net income for the quarter came in at USD$35.5 million, a significant 107.6% increase from the prior year quarter. This representing a non-GAAP net income of USD$1.39 per diluted share, which exhibited a 98.6% year-over-year increase. Adjusted EBITDA was up 102.3% from Q3 of fiscal 2020, reporting in at USD$51.4 million for the third quarter of fiscal 2021.

    Expansion of Product Portfolio

    The company announced the launch of its newest additions to its product portfolio on June 15th 2021, showcasing the T5EN PCIe/NVMe M.2 2280 and U.2 flash drives. Both products are designed to be suited for applications requiring particularly durable and rugged technology, while securing memory storage to meet the rigorous demands of aerospace, defense, and industrial sectors.The company sources all of its components very selectively, testing them over the course of engineering development phases to ensure the highest standard of performance and reliability. The design process also includes higher margins for the routing of signal, thicker PCBs, as well as more durable housing for the devices.

    Future Outlook for SGH

    Armed with the continued proliferation of its newest technology in the burgeoning global market, SGH is poised to continue its trajectory of success. 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.

  • Early Morning Vibes: The 4 Best Stocks To Buy Now

    Trading on December 31 at the American stock markets ended in the green zone. The S&P 500 index climbed 0.64% to 3756 points, the Dow Jones rose 0.65%, the NASDAQ added 0.14%. S&P 500 and Dow Jones were able to hit new all-time highs thanks to positive statistics on weekly jobless claims. The growth of the indices for the whole of 2020 was 16% and 7%, respectively, while the growth of the high-tech NASDAQ over the past year was 44%.

    Company news

    Enphase Energy (ENPH: + 1.5%) will be listed in the S&P 500 starting January 7.

    Celsius Holdings (CELH: + 13.3%) will be listed in the S&P SmallCap 600 starting January 7.

    Elf Beauty (ELF: + 7.4%) will be listed on the S&P SmallCap 600 starting January 7.

    Today, global stock markets are showing positive dynamics on the first trading day of 2021. The news background remains calm, but market participants continue to bet on the recovery of the global economy this year thanks to effective vaccines and a fast vaccination process.

    However, while the vaccination campaign in the States is not so successful: as of January 2, only 4.2 million Americans received the first (of two) dose of the vaccine, although it was previously planned to reach the goal of 20 million. The head of the Operation Warp Speed organization suggested increasing the vaccination rate by halving Moderna’s vaccine dose for certain populations, negotiations are underway with the FDA regulator and company representatives. It is important to note that investors do not yet appear to be concerned about the slow pace of vaccinations.

    In Europe, there is still no desire from the authorities to soften coronavirus restrictions. Stricter measures can be taken in the UK. In general, after the holidays, a global increase in diseases and an increase in the burden on the health care system can be expected, but investors are optimistic and look at this as the peak of the fight against coronavirus, after which the burden on healthcare workers will begin to decrease and state borders will open.

    In the United States, an attempt to increase direct payments to the public from $ 600 to $ 2,000 was unsuccessful. Also over the weekend, attention was drawn to the delisting of Chinese telecom companies from American exchanges, which was a consequence of Donald Trump’s decree.

    Technical analysis

    Technically, the S&P 500 is prone to an upward movement. A new historical maximum was reached the day before. Buyers continue to demonstrate relative strength. At the same time, the RSI indicator is close to the overbought zone, so there is a risk of correction. To stay in an uptrend, the S&P 500 needs to hold above the 3640 level.

    Today Top Movers

    Nio Inc (NIO)‎, a Auto Manufacturer company, soared about 2.44% ‎at $49.93 in pre-market trading Monday after providing its December, fourth quarter and full year 2020 delivery results.‎

    ‎Canaan Inc (CAN) share price increased 20.57% to $7.15 during early morning ‎trading session on Monday.‎‎

    ‎Castor Maritime Inc (CTRM) stock ascended 6.48% at $0.19 in the pre-‎market trading today following the announcement of pricing of $18.0 million registered direct offering.‎

    ‎Sundial Growers Inc (SNDL) gained over 2.30% at $0.48 in pre-market ‎trading on Monday.‎ The company recently revealed that it has closed the acquisition of a special purpose vehicle.

    Top Upgrades & Downgrades

    Barclays turned bullish on Ally Financial Inc. (ALLY), upgrading the stock to “Overweight” and assigning a $48 price target.

    The Goldman Sachs Group Inc. (GS) has won the favor of Barclays’s equity research team. The firm upgraded the shares from Equal-Weight to Overweight and moved their price target to $362.

    Morgan Stanley (MS) received an upgrade from analysts at Barclays, who also set their one-year price target on the stock to $88. They changed their rating on MS to Overweight from Equal-Weight in a recently issued research note.

    Earlier Monday Jefferies reduced its rating on Masco Corp (NYSE: MAS) stock to Hold from Buy and assigned the price target to $61.

    Barclays analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Zions Bancorporation (NASDAQ: ZION) has been changed to Equal Weight from Overweight and the new price target is set at $50.

    Analysts at Barclays downgraded Citigroup Inc (NYSE: C)’s stock to Equal Weight from Overweight on Monday.

    Latest Insider Activity

    AbbVie Inc. (ABBV) EVP, Commercial Operations Stewart Jeffrey Ryan announced the sale of shares taking place on Dec 29 at $105.00 for some 25,290 shares. The total came to more than $2.66 million.

    Walmart Inc. (WMT) 10% Owner WALTON JIM C sold on Dec 30 a total 372,175,368 shares at $144.23 on average. The insider’s sale generated proceeds of almost $229.12 million.

    The Kroger Co. (KR) Director SARGENT RONALD declared the purchase of shares taking place on Dec 30 at $31.65 for some 3,200 shares. The transaction amount was around $0.1 million.

    Clearside Biomedical Inc. (CLSD) 10% Owner WHITMORE BRADFORD T bought on Dec 24 a total 3,179,095 shares at $1.95 on average. The purchase cost the insider an estimated $99,897.

    Important Earnings

    Top US earnings releases scheduled for tomorrow include SMART Global Holdings Inc. (NASDAQ:SGH). It will announce its Nov 2020 financial results. The company is expected to report earnings of $0.7 per share from revenues of $290.93M in the three-month period.