STOCKS TELEGRAPH

Tag: stock market

  • Why is Future FinTech Group Inc. (FTFT) stock popping high today?

    Shares of Future FinTech Group Inc. (FTFT) stock were high in today’s pre-market after the spread of the news that FTFT and shareholders of Nanjing Ribensi Electronic Technology Co., Ltd have entered into the framework agreement to acquire Nanjing Ribensi, a Bitcoin Mining Farm. FTFT stock price a surge of 25.48% to reach $7.78 a share as of this writing. FTFT stock was red in the previous trading session and a downtrend of 1.59% was recorded at closing. Let’s understand the current happening in more depth.

    Acquisition of Nanjing Ribensi

    Nanjing Ribensi is currently operating as the Bitcoin Mining Form that has the capacity to operate 30,000 mining machines. According to the agreement, FTFT has now the acquisition of Nanjing Ribensi, which is located in Yajiang County, Sichuan Province, China, and is approved by the government. This Bitcoin mining farm is equipped with mining machines and is functional to mine Bitcoins and other cryptocurrencies. Future FinTech will pay RMB 60 million amount for this acquisition.

    According to the seller,  Nanjing Ribensi will generate a net profit of more than RMB 15 million in 2021, RMB 20 million for 2022, and RMB 25 million in 2023. If Nanjing Ribensi fails to achieve these targets, then the seller will compensate for the shortfalls attributed to the above estimates. Moreover, the seller has assured the guarantee that this Mining Farm will continue its normal operation for at least 6 to 8 years, and maintenance, management, and mining equipment will be the responsibility of the current Nanjing Ribensi team in this tenure.

    Acquisition of Antminer Bitcoin Mining Machines

    Two days ago, on March 29, 2021, FTFT did announce the framework acquisition agreement with Nanjing Shunru Electronic Technology Co., Ltd in order to buy nearly 20,000 Antminer bitcoin mining machines. These machines would be responsible for hash rate capacity of 0.12% of Bitcoin by providing a combined 200 Petahash per second (PH/s) hash rate. The purchase price for this acquisition was totaled RMB 50 million.

    Conclusion:

    The acquisition news of the Bitcoin mining farm by Future Fintech has made the FTFT stock green in today’s pre-market trading session. The management is optimistic that this mining farm would generate massive profit and local hydroelectricity for running machines of this mining farm would cost-efficient.

  • Athersys, Inc. (ATHX) stock Rises in Pre-Market: Let’s find out why.

    Athersys, Inc. (ATHX) stock saw a more push in today’s pre-market trading session after the spread of the news that Athersys partner HEALIOS K.Khas completed the enrollment in the ONE-BRIDGE study in Japan. ATHX stock price saw an uptrend of  3.66% to reach $1.70 a share at the time of this writing. ATHX stock seemed green at the previous trading session and closed with a 1.86% gain. Let’s understand the current happenings.

    The ONE-BRIDGE study:

    One Bridge Study suggests the evaluation of the MultiStem® (invimestrocel) in patients who are suffering from acute respiratory distress syndrome (ARDS) which is mainly caused by pneumonia. One Bridge study comprises two patient groups. One group includes 30 patients who are suffering ARDS due to pneumonia. The second group consists of 5 patients suffering from ARDS due to COVID-19. The main objective is to compare the results of the safety and efficacy of Multistem treatment in both groups.HEALIOS will analyze this data after the follow-up period and then further announce the results.

    Athersys is conducting its study named MACOVIA in the united states in order to analyze the results of Multstem against the treatment of COVID-19 induced ARDS patients. One thing is to remember that FDA had given both Fast Track and Regenerative Medicine Advanced Therapy approval to the ARDS program.

    Financial View of ATHX stock

    ATHX announced its fourth quarter and fiscal year 2020 results in which ATHX stock generated $1.3 million in the last three months of 2020 as compared to the same period in 2019 while full-year revenue decreased to $1.4 million as compared to $5.6 million revenue in 2019.R&D expenses increased significantly to $18.7 million in the fourth quarter of 2020 as compared to $7.6 million in the prior year while overall R&D expenses for the full year 2020 reached $63 million as compared to $39 million in 2019. General and administrative expenses of ATHX stock were $4.3 million in the last three months while these were $15.9 for the full year of 2020.

    As of December 31, 2020, Athersys stock had 51.5 million in cash and cash equivalents while these were $35.0 million on December 31, 2019.

    Conclusion:

    It seems that momentum was already built for ATHX stock in the previous trading session and recent news of ATHX stock has added more hype to it. The earnings report suggests that Athersys contract revenue from its collaboration with Healios has decreased over the year, but operational expenses show that ATHX stock has progressed over the year. In a nutshell, investors should analyze ATHX stock both fundamentally and technically.

  • Savara Inc. (SVRA) stock gains in Pre-Market: Things you need to know

    Savara Inc. (SVRA) stock gains in Pre-Market: Things you need to know

    Shares of Savara Inc. (SVRA) continued to gain in Wednesday’s pre-market trading session. SVRA stock price saw an uptrend of 7.46% to reach $2.09 a share as of this writing. Savara stock was up by 21.56% at the previous closing. It seems that analyst rating is driving the SVRA stock price to high. Let’s understand the bullish sentiment in depth.

    Analyst Review on SVRA stock.

    Savara Inc. (SVRA) is working as an orphan disease lung company mainly focused on autoimmune pulmonary alveolar proteinosis (aPAP), a disease in which excessive protein in the lungs causes difficulty in breathing.

    Savara was performing well in the previous trading session and continuing the trend so far. Some of the street members believe that the current share price of SVRA stock points to the effective entry point. A famous piper sandler analyst Yasmeen Rahimi has given the buy rating to SVRA stock and set a $7 target price which suggests that SVRA stock has the potential to soar over 309% in the coming year.

    Rahimi thinks that Molgradexhas the great potential to treat autoimmune pulmonary alveolar proteinosis (PAP) and would be proved to be game-changer therapeutic in the future. Hence there is a strong possibility that SVRA stock would outperform in the future. The analyst further depicted the validation of Molgradex by saying that it has already received the Orphan Drug Designation in the U.S for seven years and EU for ten years in addition to Fast Track Designation and Breakthrough Therapy Designation by FDA.

    Previous Event

    Savara stock announced the public offering of shares of its common stock on March 10, 2021, which SVRA closed on March 15, 2021. A total of  57,479,978 shares were included in that offering at $1.45 per share. The net proceeds resulted from this offering were intended to support the working capital of Savara’s operations in different sectors.

    Conclusion:

    Savara stock is rising as investors are responding in response to the analyst rating. The three recent reviews of Buy with an average target price of $4.67 point to the 173% growth for this penny stock in the next year. Hence SVRA stock can be a good bet in long run.

  • Moleculin Biotech, Inc. (MBRX) stock is popping high today. What’s going on?

    Moleculin Biotech, Inc. (MBRX) stock is popping high today. What’s going on?

    Moleculin Biotech, Inc. (MBRX) received the approval of Fast Track Designation for Annamycin by the FDA after which the MBRX stock happened to be green today. MBRX stock price saw an uptrend of 21.08% to reach $4.48 a share as of this writing. The MBRX stock was down with a 3.39 drop at the previous closing. Let’s have a look at current scenarios.

    A Brief look at Approval:

    Moleculin Biotech is mainly working on the treatment of tumors and viruses via the development of oncology drug products. Moleculin stock recently announced that it has got approval for fast-track designation for Annamycin, an anthracycline antibiotic, by the U.S. Food and Drug Administration. In connection with this approval, MBRX will now be able to review Annamycin results against the treatment of soft tissue sarcoma (STS) lung metastases. There are good chances for Moleculin to approve its product against STS lung metastases as well as acute myeloid leukemia.

    Why Annamycin is better?

    Approximately 130000 cases of Soft tissue sarcomas are reported annually around the globe and most of them are handled through the surgical procedure. Analysis shows that 20 to 50% of these cases metastasize to the lungs and once it happens, it then becomes more difficult to treat such cases. So far treatment is very limited for this condition due to severe cardiotoxicity effects by previously approved drugs. Annamycin on the other hand proved to be much effective so far as it does not cause severe cardiotoxicity in patients and hence better than the former drugs.

    Financial View  of MBRX stock

    Recently announced earnings results of RMBX stock show that Moleculin research and development surged to $12.8 million in 2020 as compared to $11.0 million in 2019 due to increased clinical trials that increased the operational costs. General and administrative costs were recorded at $6.8 million in 2020 while these were $6.3 million in 2019. An increase in these costs is mainly due to an increase in the staff but thanks to the COVID-19 that overall travel expenses were significantly reduced.

    Conclusion:

    MBRX stock is enjoying the bullish sentiment in the stock market in response to fast-track designation approval for Annamycin. Management is optimistic to receive early approval for its product in the future. Hence investors should do fundamental as well as technical analysis of MBRX stock before taking any decision.

  • Why Aurora Mobile Limited (JG) stock is High today?

    Why Aurora Mobile Limited (JG) stock is High today?

    Aurora Mobile Limited (JG), a leading mobile application development service provider in China, announced the partnership agreement today with the world’s largest digital currency platform after which the JG stock price saw an uptrend of  9.93% to reach $4.43 a share at the time of this writing. JG stock was down at the previous trading session and a 5.18% drop was observed at closing. Let’s understand more of it.

    A look at the Recent Agreement:

    In connection with this partnership agreement, Aurora Mobile will help the platform through Artificial intelligence and analytics capabilities to make the platform more efficient and better in its operations and enhanced in user experience.JG’s management is focused on more advancement in the fields of Artificial intelligence and blockchain to maximize its value that it delivers to its customers in the future. The platform to which JG has partnered is expanded to more than 180 countries worldwide and provides services of cryptocurrencies spot and margin trading for major digital currencies like Bitcoin, ether, etc.

    Previous Agreements:

    Aurora stock has signed the agreement with Zuoyebang Education Technology (Beijing) Co., Ltd on March 25, 2021, pursuant to which the former would perform digital up-gradation and smart operation analytics to advance operational activities of later to increase the quality of Zuoyebang’s learning app. Zuoyebang’s App has more than 800 million registered users which shows that 7 out of 10 students had downloaded and used the app. Due to COVID-19, the conventional offline education system shifted to online which resulted in 170 million monthly and 50 million daily active users of the Zuoyebang App.

    On March 23, 2021, JG stock also entered into a partnership with  Koolearn Technology Holding Limited, a leading online education company, in order to provide push notification and smart operational analytics services. This partnership would help Koolearn in the advancement of its online education resources via AI technology.

    Financial View Of JG stock:

    In the fourth quarter of 2020, JG stock generated RMB106.0 million revenue with a 42% increase over the year while total revenue of the year 2020 was RMB471.6 million with a 48% decrease over the year. The gross profit of JG stock was RMB60.1 million in the fourth quarter of 2020 while its operating expenses reached MB106.5 million in the same period.

    Conclusion:

    Investors are responding to the Aurora stock in response to the partnership news. Thanks to the COVID-19 which created new opportunities for JG stock especially in the education industry. Fourth-quarter earnings results were satisfactory as compared to previous year results of the same period. Hence individuals need to keep an eye on this stock.

  • SRAX stock gains in Pre-Market: Let’s find out why

    SRAX stock announced its fourth quarter and full-year 2020 results after which the SRAX stock saw a boom of 17.39% to reach $5.40 a share in today’s pre-market at the time of this writing. SRAX stock also gained in the previous trading session and was up by 8.49% at closing. Let’s have a look at the financial results.

    Fourth-Quarter Results:

    SRAX stock marked $4.5 million revenue in the fourth quarter of 2020 which represents a whopping increase of 316% as compared to the same period in the previous year and a 74%  increase in comparison to the third quarter of 2020. Gross margin represents the growth of 73% while it was 44% in the same tenure of the prior year. Operating expenses were also increased in the fourth quarter to $5.3 million from $4.8 million in the fourth quarter of 2019.SRAX recorded a net income of $200K in the last three months of 2020 while it suffered a net loss of $4.4 million in the same period of last year.

    Fiscal Year 2020 Results:

    Revenue of SRAX stock reached $8.7M million in 2020 representing a surge of 141% over the year. Gross margins were moved from 53% in the prior year to 70% in 2020.$17.7 million Operating expenses were recorded in 2020 which represents a decrease of $2.1 million or 11%as compared to operating expenses of 2019.EBITDA in 2020 was -$8.4 million while it was -$15.5 million in 2019.Net income of SRAX for 2020 was -$14.7 million while it was -$16.9 in 2019.

    Financial Guidance of SRAX stock:

    SRAX projected its revenue for the fiscal year 2021 in the range of $23M – $25M while $7 million revenue for the second quarter of 2021 is estimated. Sequire, the SaaS platform of SRAX, has been gaining much popularity over time as 183 public companies bought its subscription of it. The subscription rate increased by 92% since SRAX released its third-quarter income of 2020.$16.5 million revenue of Sequire from the existing contracts in 2021 is recorded so far.

    In a Nutshell:

    SRAX stock has been hot among investors after the release of its positive financial results. SRAX Inc has shown significant progress over the year and it seems that momentum is already created for SRAX. Management is deeply focused on meeting the customer demand and adoption of new technologies. Hence SRAX stock can be a good bet for investors in the future.

  • Humanigen, Inc. (HGEN) stock Continues to Gain today: Things you Need to Know

    Humanigen, Inc. (HGEN) stock Continues to Gain today: Things you Need to Know

    Humanigen, Inc. (HGEN) announced positive phase 3 Topline results of lenzilumab,  humanized monoclonal antibody, after which the HGEN stock price saw a surge of 45.42% today’s session to reach $20.34 a share as of this writing. HGEN stock was also green in the previous trading session and at closing, it was up by 1.67% with a $13.99 per share price. Let’s understand more about today’s HGEN news.

    A deep look at Clinical Results.

    Humanigen was performing a phase three clinical trial of lenzilumab for the past couple of months. The study was based on the evaluation of efficacy and safety results of lenzilumab in the hospitalized patients suffering from COVID-19. According to the phase three results, the patients who had received lenzilumab along with steroids or remdesivir were more likely to survive without the use of invasive mechanical ventilation (IMV) as compared to the patients who did not receive the lenzilumab.HGEN was happy to see these results.

    Mayo Clinic was the part of this study and Zelalem Temesgen, MD, who is a professor at Mayo Clinic, was serving as the Principal investigator of this trial. According to him,  lenzilumab proved to be much effective in its results as it significantly reduced the chances of one’s going on a ventilator. Andrew Badley, MD, a professor of Infectious Diseases, showed much excitement about these results. He said that lenzilumab would be an important part of Mayo Clinic in future trials if it gets approval from U.S. Food and Drug Administration.

    Next Goal of Humanigen, Inc.

    After getting exceptional results in phase three clinical trial of lenzilumab, Humanigen’s management is planning to apply for the grant of getting Emergency Use Authorization(EUA)   by the Food and Drug Administration.  Humanigen also sharing these results with different governmental agencies of the U.S as well as authorities of many countries in the globe.

    Financial View of HGEN stock

    On March 10, 2021, Humanigen stock announced its fourth quarter and fiscal year 2020 results according to which HGEN stock recorded the net loss of $89.5 million or $2.42 per share in 2020 as compared to a net loss of $10.3 million or $0.46 per share in 2019. This increase was mainly due to a massive increase in the research and development expenses in 2020. The R&D expenses for 2020 were $72.7 million while these were just $2.6 million in 2019. $67.7 million of cash and cash equivalents were recorded at the end of 2020.

    Conclusion:

    Considering the market sentiment, HGEN stock is in a good position as investors are responding to the news announced by Humanigen, Inc.Positive results of the phase three study would prove to be fruitful for the HGEN stock in the future. Recent earnings report shows that Humanigen has progressed over the year. Hence HGEN stock can be a good bet in the long run.

  • Why Universe Pharmaceuticals Inc (UPC) stock rallied in Pre-Market today?

    Why Universe Pharmaceuticals Inc (UPC) stock rallied in Pre-Market today?

    Shares of Universe Pharmaceuticals Inc (UPC) were soaring in Monday’s pre-market trading session. UPC stock price saw a boom of 83.54% in today’s pre-market to reach $7.47 a share as of this writing. The previous closing price of UPC stock was $4.07 representing a 0.49% gain. Let’s try to figure out the reason behind this bull.

    What’s happening?

    We find no news in today’s date by the UPC stock, no earnings report or analyst upgrades to justify this bull however on March 26, 2021, Univest Securities, LLC did announce the closure of an initial public offering (IPO) for its client Universe Pharmaceuticals Inc.This initial public offering of 5,000,000 ordinary shares was announced by the Universe Securities, LLC on March 23, 2021, at a public price of US$5.00 per ordinary share of the UPC stock.

    This IPO resulted in US$25 million in the aggregate gross proceeds without deducting the offering-related expenses and the underwriting discounts. Furthermore, the underwriter has been granted a 45-day option to buy additional 750,000 shares of UPC stock under this public offering. The trading of ordinary shares of UPC stock began on  March 23, 2021.

    UPC stock Future Plans

    Universe stock is planning to make use of these proceeds in various of its operational areas as well as for the growth in its manufacturing facilities. This revenue will help the UPC stock for the advancement in its research and development fields and will support the brand awareness, marketing, and advertisement of the Universe Stock. Some part of this amount will be used for UPC’s working capital and general corporate purposes.

    About Universe Pharmaceuticals Inc

    Universe Pharmaceuticals INC(UPC), a subsidiary of Sununion Holding Group Limited, is mainly working in the areas of research, development, marketing, and selling of traditional Chinese Medicine products in the Republic of China. Main focus of the UPC is the treatment of chronic diseases in the elders.UPC was founded in 2019 and its headquarter are located in Jiangxi, China.

    Conclusion:

    UPC stock is enjoying the bullish sentiment in the stock market despite the absence of any specific news by the Universe stock.UPC management is well aware of the future goals related to its development and expansion. Hence it is better for investors eyeing UPC stock to perform both technical and fundamental analysis before taking any decision.

  • China SXT Pharmaceuticals, Inc. (SXTC) stock gains in Pre-Market. Let’s find out why.

    China SXT Pharmaceuticals, Inc. (SXTC) stock gains in Pre-Market. Let’s find out why.

    Shares of China SXT Pharmaceuticals, Inc. (SXTC) stock remained high in Monday’s pre-market trading session. SXTC stock was up by 33.33% to reach $2.44 a share at the time of this writing. It seems that SXTC stock was performing well in the previous trading session as it was up by 3.39% at the previous closing. But what made the stock high? Let’s deep dive to understand this bull.

    What’s happening?

    Sometimes nothing is good for everything and the same is the situation for SXTC stock. There is no particular activity by the China SXT stock, no press release today, no analysts’upgrades, or upswing targeted per share price of SXTC stock to support the rising stock price of China SXT. However it seems that sympathy play might be the driving force behind this bull as China Pharma Holdings, Inc has skyrocketed over 200% in pre-market session today in response to its fiscal year 2020 results.

    Recent Development

    Back on February 19, China SXT announced the approval of a 1 for 4 reverse split of its ordinary shares by its board of directors. These split-adjusted ordinary shares of SXTC began to trade on February 22, 2021. In connection with this announcement, shareholders of China SXT stock received one new share for every four shares which they owned. As of February 18, China SXT had approximately 62,057,584 outstanding ordinary shares which reduced to 15,514,396 approximately after the reverse split.

    Here is what you need to know about China SXT Pharmaceuticals, Inc.

    • China SXT is mainly operating in the fields of research, development, manufacturing, and marketing of its traditional Chine medicine piece tablets in the Republic of China. SXTC stock has a current market cap of 28.391M.
    • China SXT is a well-established company that provided services to 116 pharmaceutical companies, served 56 pharmacies and 76 hospitals as of May 2020.
    • Feng Zhou, a graduate of Pla National Defense University, is the Chief Executive Officer of the SXTC.
    • China SXT Pharmaceuticals was founded in 2005 and its headquarters are in Taizhou, China.

    Conclusion

    Things are going in favor of SXTC stock as far as market sentiment is concerned but no one knows how long this trend will continue in the future. There is no update about the earnings report so far by the China SXT. In a nutshell, investors should keep an eye on this stock.

  • Why Tencent Music Entertainment Group (TME) stock is falling today?

    Why Tencent Music Entertainment Group (TME) stock is falling today?

    Shares of Tencent Music Entertainment Group (TME) were low today amid the spread of a proposal by the Chinese government to establish a joint venture with local tech to access the consumer data. TME stock price saw a downtrend of 8.89% to reach $18.55 a share at the time of this writing. AT the previous trading session, TME stock was red with a 12.17% drop. Let’s deep dive to explore more the current scenarios.

    State-backed Company

    The Chinese government is planning to create a state-backed company along with its biggest eCommerce and online payment platforms in order to access the lucrative data of the consumers to tighten the grip over their activities on the internet. This step will help regulators in introducing regulatory laws in the tech world in the future. Companies like Alibaba Group Holding Ltd, ByteDance Ltd., and Meituan and Tencent Holdings Ltd were initially encouraged to support the government in this regard by sharing the consumer data from e-commerce to social media platforms.

    Financial View of TME stock

    On  March 22, 2021, TME stock announced its fourth quarter and full-year unaudited results of 2020 the summary of which is given below

    Total Revenues surged by 14.3%YoY to reach RMB8.34 billion in the fourth quarter of 2020. Online Music service revenues showed 29% growth in the fourth quarter of 2020  as compared to the same quarter of 2019 while revenues from subscriptions surged by 41.9% to reach RMB1.58 billion in the last three months of 2020. Overall revenue of the year 2020 totaled RMB29.15 billion representing a 14.6% increase over the year.TME generated  RMB25.43 billion in 2019.

    Conclusion

    Things are gloomy for TME stock as far as market sentiment is concerned. Tencent Music’s recent earnings report shows that TME stock has progressed over the year as it met the expectations of analysts for both sales and earnings. We saw a couple of fluctuations in the TME stock price this week as it soared after its earnings results and then happened to be down might be due to analyst downgrade and still continuing the bearish trend.