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Tag: VRM stock

  • Q1 2022 Earnings & a Realignment Plan: Vroom Inc. (VRM) stock Surges After Hours

    The auto and truck dealership e-commerce platform, Vroom Inc. (VRM) said on May 9, that it has initiated a realignment plan, while it posted earnings for Q1 2022. Additionally, the company also appointed Tom Shortt as the new CEO after the previous one left to pursue other opportunities.

    The quarterly earnings which exceeded the company’s guidance on all key metrics also surpassed analysts’ expectations. Consequently, the beat earnings and realignment plan had investors cheering over the stock in the late trading session.

    Source: MBE CPAs

    Thus, after a decline of 20.00% in regular trading, VRM rallied in the after-hours and increased by 18.51%. After registering a new 52-week low of $1.0800 in the regular session, the stock surged up to $1.2799 in the following session. An active number of 1.89 million shares were exchanged in the after-hours on Monday.

    VRM’s Q1 Overview

    The car dealer’s Q1 2022 total revenue increased to $923.8 million while the e-commerce revenue reached $675.3 million. This marks an increase of 56.3% in the total revenue and 59.9% for e-commerce. Hence, the total revenue surpassed the consensus estimate by 5.59%.

    On the other hand, VRM’s loss from operations was $315.9 million while the net loss expanded to $310.5 million. Thus, the quarterly loss of 71 cents per share beat the consensus estimate of a loss of $1.03 per share for the quarter. This represents a nice earning surprise of 31.07%.

    Moreover, the total gross profit figure stood at $81.6 million with an improvement of 125.7%. The total units sold went up by 20.7% while e-commerce units sold increased by 25.6% and the wholesale units sold were up 17.0%.

    The Realignment Plan

    The company said on Monday that its board has approved a realignment plan to position VRM for long-term profitable growth. The realignment plan includes unit economics prioritization, operating expenses reductions, and liquidity maximization. For this, the company plans to reduce targeted unit sales in order to focus on the sustainable sales margin, regionalization of business and operations, and employee lay-off.

    Following the complete realignment, VRM expects cost reductions of $135-$165 million with operating improvements through the rest of the year.

    VRM’s Outlook

    VRM is expecting e-commerce unit sales of 45,000-55,000 for the full year of 2022, with adjusted EBITDA in the range of $(375) and $(325) million. The company also said that it expects year-end liquidity of $450-$565 million.

    While the company did not provide its revenue and earnings estimates, the consensus figures for the full year are a loss of $3.54 on revenue of $3.82 billion.

  • Vroom Inc (VRM) stock is losing in the after-market. Here’s why

    The stock of Vroom Inc (VRM) closed the regular trading session at $6.08, losing 1.94% from the previous trading session. On the last check, the stock of VRM remained bearish in the after-market, losing 7.4% to $5.63. Vroom Inc released the financial performance for the Q4 of its FY21. The company also filed form 8-K with the SEC on 28 February 2022.

    Vroom Inc focuses on the retail of cars. The firm deals in new and used vehicles, spare parts, and accessories. VRM also extends its services for repairs, financing, protection, and vehicle leasing. Currently, the company has a market capitalization of $832.41 million with 136.91 million pending shares. Vroom has its base in New York, United States of America (USA).

    VRM’s FY21

    Vroom Inc released the financial outlook for Q4 and FY21 on 28 February 2022. The sales of VRM were up 130% in Q4 of FY21 to $943.6 million compared to $405.8 over the corresponding period of last year. The yearly sales grew by 134% to $3.1 billion in 2021 versus $1.3 billion in 2020. In Q4 of FY21, the company earned a profit of $44.7 million compared to $20.1 million in the same period of FY20. This records an increase of 122%. The yearly profit also expanded by 182.4% to $202.1 million against $71.5 million in 2020. VRM had a total loss of $129.7 million in Q4 of FY21 versus $60.6 million in Q4 of FY20, expanding by 113.9%. Also, the yearly loss was up by 82% in 2021. Moreover, the company had a loss of $0.95 and $2.72 in Q4 and FY21, respectively.

    The units sold through the e-commerce platform were up by 93% to 0.02 million units. Also, the yearly units sold expanded by 117%.

    On 10 February 2022, Vroom Inc (VRM) also stated the cost of its auto loan. The company estimated an auto loan of $296.17 million in the total amount of auto receivable-backed notes.

    The CEO of VRM, Paul Hennessy, stated that he is pleased with what they have achieved in FY21. He further added that they anticipate the development of their business in 2022 as they welcome the new Chief Operating Officer, Tom Shortt.

    FY22 stance

    Vroom Inc (VRM) estimates the sales in Q1 of FY22 to be almost $875 million. The company estimated the e-commerce sale to be in the range of 18,000 to 19,000 units.

  • Here is why Vroom Inc. (VRM) stock turnaround in the after-market on Monday?

    Here is why Vroom Inc. (VRM) stock turnaround in the after-market on Monday?

    Vroom Inc. (VRM) shares declined 4.87% in after-market on Monday, June 14, 2021, and closed the day at $42.99 per share.  Earlier, VRM’s stock gained 2.15% to close Monday’s session at $45.19 per share. VRM shares have risen 5.02% over the last 12 months, and they have moved up 4.17% in the past week. Over the past three months, the stock has gained 20.73%, while over the past six months, it has added 32.91%.

    Let’s see what’s going on with VRM?

    Convertible Senior Notes Offer

    On June 14, 2021, Vroom, Inc announced its intention to offer, $500,000,000 aggregate principal amount of convertible senior notes due 2026 in a private offering to qualified institutional buyers. Vroom also expects to grant the initial purchasers of the notes an option to purchase, for settlement within 13 days from, and including, the date the notes are first issued, up to an additional $75,000,000 aggregate principal amount of notes.

    Last Mile Concierge Experience to Dallas Locals

    On May 27, 2021, Vroom, Incopened a new Dallas hub and a more customized driveway experience for nearly 7 million people in over 1,000 zip codes within a 70-mile radius. Vroom is now offering an experience that includes a more personalized concierge service where customer advocates transport cars directly to car buyers’ driveways on Vroom-branded trucks and show them how to use their new vehicles.

    Vroom facing legal actions and lawsuits

    Several class-action lawsuits have been filed by many law firms against the company and VRM is facing legal challenges.

    On May 21, 2021, Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders.

    the complaint is that defendants made materially false and/or misleading statements and/or failed to disclose that Vroom had not demonstrated that it was able to control and scale growth in respect to its salesforce to meet the demand for its products, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

    Recent financial results

    On May 13, 2021, Vroom, Inc released its financial results for the first quarter ended March 31, 2021.

    Q1 2021 financial highlights

    • Vroom reported a net loss of $$77.2 million for Q1 2021, compared to $41.05 million in Q1 2020.
    • Net loss per share, basic and diluted was $0.57 per share in Q1 2021 compared to $4.85 per share in Q1 2020.
    • Total revenue was $591.1 million in Q1 2021 compared to $375.8 million in Q1 2020.
    • The total gross profit was $36.2 million in Q1 2021 compared to $18.39 million in Q1 2020.
    • Selling, general and administrative expenses were $109.1 million in Q1 2021 compared to $58.38 million in Q1 2020.
    • Adjusted EBITDA was $72.6 million in Q1 2021 compared to $39.2 million in Q1 2020.

    Conclusion

    The convertible senior note offer could be the reason either behind its loss or gains on Monday as there is no other recent news.

  • What changed for these 49 stocks in Pre-Market Session?

    What changed for these 49 stocks in Pre-Market Session?

    Fuel Tech Inc. (FTEK) stock plunged -8.8% to $1.14 in the pre-market trading after the technology company offered advanced engineering solutions for the optimization of combustion, pollution control, and water treatment systems in utility and industrial applications, financial results for the third quarter were officially published. The most recent rating by H.C. Wainwright, on March 13, 2020, is at a Neutral.

    Equillium Inc. (NASDAQ: EQ) shares are trading down -4.17% at $4.83 at the time of writing after on November 11, the company announced quarterly results for the third quarter of 2020. The company’s 52-week range was noted as $2.20 to $27.05. Analysts have a consensus price target of $24.

    Immuron Limited (IMRN) tumbled over -4.17% at $8.05 in pre-market trading today. US DoD Naval Medical Research Center Reports Positive Immunological Responses to Vaccine.

    Infinity Pharmaceuticals Inc. (INFI), a Biotechnology company, dropped about -6.62% at $1.41 in pre-market trading Thursday following an earnings surprise of -6.67 percent was revealed by the company. It was anticipated a quarter ago that this drugmaker would report a loss of $0.20 per share when it actually posted a $0.16 loss, providing a 20 percent surprise.
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    Tellurian Inc. (TELL) stock moved down -5.6 percent to $1.18 in the pre-market trading following the company finished the third quarter of 2020, with cash and cash equivalents of roughly $77.9 million and current borrowings of about $80.8 million. The balance sheet of Tellurian accounted for about $293.3 million in total assets.

    Co-Diagnostics Inc. (CODX) gained over 5.19% at $13.99 in pre-market trading Thursday 12 November 2020. Co-Diagnostics, Inc. CoPrimers™ Shown to be Effective in COVID-19 Saliva PCR Tests Without Sample Extraction.

    Abeona Therapeutics Inc. (ABEO) is down more than -3.85% at $1.25 in pre-market hours Thursday 12 November 2020 after a front-runner in gene and cell therapy, revealed quarterly results and business updates. The stock had jumped over 13.04% to $1.30 in the last trading session.

    Before the trading started on 12 November 2020, MannKind Corporation (MNKD) is down -3.57% to reach $2.7. It has been trading in a 52-week range of $0.80 to $2.52.

    RAVE Restaurant Group Inc. (RAVE) stock plunged -11.84% to $0.67 in the pre-market trading. The most recent rating by ROTH Capital, on May 12, 2016, is at a Neutral.

    Dada Nexus Limited (NASDAQ: DADA) shares are trading up 5.08% at $32.7 at the time of writing. The company’s 52-week range was noted as $14.60 to $37.38. Analysts have a consensus price target of $36.

    FuelCell Energy Inc. (FCEL) tumbled over -1.49% at $2.65 in pre-market trading today.

    Zoom Video Communications Inc. (ZM), a Telecom Services company, rose about 3.38% at $427.3 in pre-market trading Thursday.

    Canaan Inc. (CAN) stock moved up 3.05 percent to $2.7 in the pre-market trading.

    Muscle Maker Inc. (GRIL) lost over -9.6% at $1.79 in pre-market trading Thursday 12 November 2020.

    Moderna Inc. (MRNA) is up more than 5.03% at $86.59 in pre-market hours Thursday 12 November 2020. The stock had jumped over 8.40% to $82.44 in the last trading session. Moderna Has Completed Case Accrual for First Planned Interim Analysis of its mRNA Vaccine Against COVID-19 (mRNA-1273).

    Before the trading started on 12 November 2020, Coty Inc. (COTY) is down -3.89% to reach $4.45 after the company topped analysts’ outlook and surged as much as 22.2% on Nov 6 following its first-quarter fiscal 2021 results. It has been trading in a 52-week range of $2.65 to $13.01.

    Pinduoduo Inc. (PDD) stock soared 17.53% to $131.0 in the pre-market trading following an innovative and emerging tech firm and one of the top Chinese e-commerce players, revealed its unaudited financial results for the third quarter ended September 30, 2020. The most recent rating by Goldman, on November 03, 2020, is a Buy.

    Sea Limited (NYSE: SE) shares are trading up 3.48% at $175.01 at the time of writing following the news recently that pharmaceutical companies are closing on their COVID-19 vaccine candidates. The company’s 52-week range was noted as $30.50 to $187.75. Analysts have a consensus price target of $164.

    GrowGeneration Corp. (GRWG) grew over 7.26% at $22.46 in pre-market trading today after GrowGeneration reported record third-quarter 2020 Financial Results.

    Blink Charging Co. (BLNK), a Specialty Retail company, rose about 5.09% at $10.73 in pre-market trading Thursday.

    LightInTheBox Holding Co. Ltd. (LITB) stock moved up 3.31 percent to $2.5 in the pre-market trading.

    Bionano Genomics Inc. (BNGO) gained over 14.13% at $0.639 in pre-market trading Thursday 12 November 2020. Multi-Center Evaluation of Bionano Optical Genome Mapping by Cytogenetics Thought Leaders in the US Leads to Recommendation for Bionano’s Saphyr to Replace Karyotyping as First-Line Test for Detection and Identification of Structural and Copy Number Variants in Leukemia Patients.

    Vroom Inc. (VRM) is down more than -9.88% at $36.77 in pre-market hours Thursday 12 November 2020 following Vroom reported third Quarter 2020 results. The stock had jumped over 6.56% to $40.80 in the last trading session.

    Before the trading started on 12 November 2020, Turkcell Iletisim Hizmetleri A.S. (TKC) is up 3.16% to reach $5.23. It has been trading in a 52-week range of $4.36 to $6.36.

    Himax Technologies Inc. (HIMX) stock soared 12.2% to $4.6 in the pre-market trading after the prediction of Revenue to surge by approx. 10% consecutively and Gross Margin to get close to 29%. The most recent rating by Credit Suisse, on April 01, 2020, is at an Outperform.

    Qualigen Therapeutics Inc. (NASDAQ: QLGN) shares are trading down -10.03% at $3.23 at the time of writing. The company’s 52-week range was noted as $3.29 to $21.50.

    NovaBay Pharmaceuticals Inc. (NBY) grew over 8.82% at $0.67 in pre-market trading today.

    IMAC Holdings Inc. (IMAC), a Medical Care Facilities company, rose about 146.1% at $2.05 in pre-market trading Thursday. IMAC Holdings, Inc. Expands Missouri Footprint with Acquisition of Lockwood Chiropractic in Webster Groves.

    Sino-Global Shipping America Ltd. (SINO) stock moved up 62.18 percent to $3.13 in the pre-market trading.

    InVivo Therapeutics Holdings Corp. (NVIV) lost over -3.21% at $0.555 in pre-market trading Thursday 12 November 2020.

    Castor Maritime Inc. (CTRM) is up more than 18.5% at $0.1595 in pre-market hours Thursday 12 November 2020 after the company posted fiscal Results for the Three Months and Nine Months Ended September 30, 2020. The stock had jumped over 4.95% to $0.13 in the last trading session.

    Before the trading started on 12 November 2020, Just Energy Group Inc. (JE) is down -13.28% to reach $5.29 as a retail energy provider specializing in electricity and natural gas commodities, revealed its quarterly results for the fiscal year 2021. It has been trading in a 52-week range of $4.27 to $93.72.

    OraSure Technologies Inc. (OSUR) stock soared 4.55% to $14.02 in pre-market trading after the company recently topped its 3rd quarter fiscal earnings predictions. The most recent rating by Evercore ISI, on August 21, 2020, is at an Outperform.

    Riot Blockchain Inc. (NASDAQ: RIOT) shares are trading up 4.17% at $3.75 at the time of writing after the news that Bitcoin might take off again after a big gap. The company’s 52-week range was noted as $0.51 to $4.58.

    NortonLifeLock Inc. (NLOK) tumbled over -7.02% at $18.68 in pre-market trading today despite the earnings beat in the recent week.

    NIO Limited (NIO), an Auto Manufacturers company, rose about 3.41% at $44.55 in pre-market trading Thursday after the analyst’s prediction that NIO can be the main player in the Electric Vehicle market.

    JD.com Inc. (JD) stock moved up 5.38 percent to $87.3 in the pre-market trading following the news that JD.com was the largest US seller in China on Singles day.

    Kandi Technologies Group Inc. (KNDI) gained over 8.84% at $6.77 in pre-market trading Thursday 12 November 2020 despite its disappointing sales results in the financial 3rd quarter of this year.

    ICL Group Ltd (ICL) is up more than 3.11% at $3.98 in pre-market hours Thursday 12 November 2020 as the company topped analysts’ outlook on every front. The stock had jumped over 3.21% to $3.86 in the last trading session.

    Before the trading started on 12 November 2020, Uxin Limited (UXIN) is down -3.81% to reach $1.01 after the news that the company’s proprietary rating system has been introduced that assesses and determines the quality of a used vehicle, offers greater precision to make the decision-making process simpler for consumers and enhances the overall consumer experience. The stock has been trading in a 52-week range of $0.72 to $3.30.

    Baozun Inc. (BZUN) stock soared 3.07% to $40.57 in pre-market trading after the news that the stock still carries a great potential for investors. The most recent rating by Credit Suisse, on June 03, 2020, is at an Outperform.

    XpresSpa Group Inc. (NASDAQ: XSPA) shares are trading up 4.47% at $1.87 at the time of writing after the news that the firm to offer Business Update and will reveal Third Quarter 2020 Financial Results on November 16, 2020. The company’s 52-week range was noted as $0.15 to $8.82.

    KE Holdings Inc. (BEKE) grew over 3.48% at $72.02 in pre-market trading today after the news that the company will announce its quarterly report on November 16, 2020.

    Revolve Group Inc. (RVLV), an Internet Retail company, dropped about -8.96% at $20.43 in pre-market trading Thursday after the company Announced Third Quarter 2020 Financial Results with topping all analysts predictions.
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    American Tower Corporation (REIT) (AMT) stock moved up 2.75 percent to $245.0 in the pre-market trading after the reports that the company took over InSite Wireless Group for USD 3.5 billion.

    BIO-key International Inc. (BKYI) gained over 16.2% at $0.52 in pre-market trading Thursday 12 November 2020.

    Liminal BioSciences Inc. (LMNL) is up more than 11.19% at $4.57 in pre-market hours Thursday 12 November 2020 after the report that the firm will reschedule its announcement of quarterly results and conference call. The stock had jumped over 2.49% to $4.11 in the last trading session.

    Before the trading started on 12 November 2020, GoHealth Inc. (GOCO) is down -4.5% to reach $12.73. It has been trading in a 52-week range of $10.02 to $26.25.

    XPeng Inc. (XPEV) stock soared 10.53% to $37.06 in pre-market trading after the company unveiled upbeat quarterly results. The most recent rating by Citigroup, on November 04, 2020, is a Buy.