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Tag: WEI

  • Weidai Ltd. (WEI) Once Again Under Corrections After an Upsurge Post Previous Earnings

    Weidai Ltd. (WEI) Once Again Under Corrections After an Upsurge Post Previous Earnings

    The China-based auto-backed financing solutions provider, Weidai Ltd. (WEI) stock has been trending actively since the company announced preliminary 2021 results. Largely on a bullish roll, since the earnings were announced on March 28, 2022, WEI has lost a fair share to corrections and profit booking as well. The roller-coaster ride while peaking at gains on the earnings, has succumbed to corrections more than once now. The latest corrections event follows the stock’s mammoth gains on Friday. After shooting up by 28.83% during intraday trading, the stock declined under corrections in the after hours. Thus, the regular session’s closing price of $1.43 went down to $1.33 in the after-market trading. The stock reported a downward move of nearly 7% in the after-hours on Friday.

    What Does WEI Expect for the 2021 Report?

    Source: Itcenex

    Based on the preliminary and unaudited analysis of its financials, the company expects to bring in a revenue of RMB698-RMB708 million for fiscal 2021.

    With losses from operations ranging between RMB744-RMB754 million for the year, the net loss is expected to be RMB1,144-RMB1,154 million.

    Moreover, the company anticipates that the year-end cash and cash equivalents would be around RMB225-RMB235 million.

    Peer-to-Peer Lending Business Update

    Having commenced the exit process of its peer-to-peer lending business in 2020, WEI has so far completed most steps in the process. The company was able to repay all outstanding net principal balances to investors in July 2021. Currently, it is working with government authorities for completing the exit process.

    NYSE Listing Requirements & WEI Ratio Change

    Last year, the company fell below NYSE’s price criteria for ADSs’ continued listing standard. After evaluating its options and plans for regaining compliance with NYSE, WEI recently effected a stock split. Similar to the 1-for-3 reverse split, initially the ADSs ratio change of 1 ADSs representing 3 Class A ordinary shares was announced to commence on January 26, 2022. Seemingly, the company found a ratio change similar to the 1-for-5 reverse split much more effective, thus, nullifying the 1:3 change, WEI effected a 1:5 change instead.

    Consequently, the company received an NYSE notification on February 28, to declare the company’s compliance with NYSE listing standards. Hence, the company has regained compliance with NYSE in regard to its ADSs price.

    How Does the Future Look?

    Having lost over 80% last year, WEI has continued its bearish sentiment into 2022 as well with a decline of 61.87% so far. Unless the company takes some drastic steps and improvises, the long-term price is deemed to be in the red. On the other hand, the intermediate-term price shows green.

  • Here’s why Weidai Ltd. (WEI) Stock Rocketing Higher in Today’s Premarket

    Weidai Ltd. (WEI) is providing financing solutions for automobile-backed industry in China. The company is engaged in the transformation of secondhand autos into investable possessions. The company also utilizes sophisticated and efficient risk management technology for its customers.

    The price of WEI stock during the regular trading on January 25, 2022 was $2.22 with a steep rise of 345%. At last check in the premarket on January 26, 2022, the stock further inclined by 26% to $2.82 thanks to an ADS ratio change that’s equivalent to a five-for-one reverse stock split.

    WEI: Events and Happenings

    On January 25, 2022, WEI reported about changing the ratio of the company’s American Depositary Shares. The impact of modification will be seen at the start of trading on January 26. The modification succeeds the previous strategy of 3:1 share change ratio.

    On November 18, 2021, WEI reported about holding of annual general meeting of the company’s stockholders on December 15, 2021. The meeting served as an open discussion forum for stockholders. On September 24, 2021, WEI reported about receipt of notification from NYSE as the company’s ADS was below the standard compliance price.

    WEI: Key Financials

    On August 27, 2021, WEI reported its financial results for the first fiscal six months ended June 30, 2021. Some of the key updates are as follows.

    Revenue

    Net revenue in H1 2021 was recorded to be RMB535.9 million.

    Net Loss per Share

    Basic and diluted net loss during the first half of 2021 was RMB397.1 million or RMB5.61 per share.

    Conclusion

    WEI stock is performing great in the market as it gained 116% from the past six months despite the challenges faced due to deteriorating economic conditions. The current premarket stock surge is the result of company’s updated ratio change of shares. The analysts are predicting this bloom in the stock will help the company to gain additional benefits from different investors.

  • Weidai Ltd (WEI) stock soared in the pre market trading session: here’s why

    Weidai Ltd (WEI) stock recently traded at $1.41 which is a 2.76% downward movement. The WEI stock previously closed at $1.41. WEI stock also soared in the pre-market trading session by 39.72% at the time of writing.

    The recent pattern of positive movement in the after-hours trading session does not come along with any recent relevant news or press release.

    Weidai Ltd provides credit to its clients

    Weidai Ltd. is a software-application based company that specifically provides risk management system and financing solution services. In China, it is considered the pioneer for service provision of its kind. Weidai Ltd. provides auto-backed financing solutions to its clients. WEI does it through giving small and micro enterprises in China an option to give their old and used automobiles as “non-standard” collateral for WEI stock to use as an investable assets and then provide credit. The company also provides connections to borrowers with institutional funding partners through its platform.

    Announcement of Full Year 2020’s financial result

    Weidai Ltd. announced the release of its financial results for its full-year 2020 report, on 19 March 2021. The financial results were not reviewed by the WEI’s independent registered accounting firm.

    The auto-backed financing solution provider has stated that its loan balance for the year 2020 till the end of 31 December 2020 was RMB4.5 billion which is equivalent to $0.7 billion which is a drastic drop from RMB13.7 billion in 2019.

    NOTE: All conversions of RMB to US is based on the noon buying rate on 31 December 2020 as set forth by U.S Federal Reserve Board – RMB6.5250 to US$1.0

    Furthermore, the provision for loans and advances as of 2020 was RMB803.7(US$235.4) compared to RMB1162 in 2019.

    WEI stock’s Full Year 2020’s net revenue totals at RMB1536.1 million(US$235.4 million) compared to RMB3375 million in 2019. Breaking these net revenues down, we gather that 2020’s;

    • loan service fee for 2020 is RMB 1,411.1 million(US$216.3 million)as compared to RMB2,955 million in 2019
    • Other revenues in WEI for 2020 was RMB97.8 million (US$15 million)as compared to RMB273.4 million in 2019
    • Net financing income in 2020 was RMB30.8 million (US$4.7 million)compared to RMB144.8 million in 2019

    Operating costs and expenses of the WEI stock are at a total RMB 1,141 million(US$174.9 million) compared to RMB1909.5 million. Among these costs are;

    • Provision for financial guarantee liabilities in 2020 was RMB 103.0 million(US$123.2 million) – RMB19.2 million in 2019
    • Expenses for originating and servicing were at RMB766.3 million(US$15.8 million) – RMB1388.6 million in 2019
    • Sales and Marketing expenses for 2020 were RMB15.1 million(US$117.4 million) – RMB138.1 million in 2019
    • Research and Development expenses for 2020 were RMB27.1 million(US$4.2 million) – RMB81.7 million in 2019

    FY 2020 also shows that share based compensation expenses in 2020 were RMB 6.1 million(US$0.9 million).

    WEI stock has reported a net loss in 2020 of RMB714.3 million(US$109.5 million) as compared to the net income in 2019 of RMB263.2 million. Furthermore, the ordinary shareholders of the WEI stock also had a net and comprehensive loss of RMB712.6 million(US$109.2 million). In 2019 the ordinary shareholders had gained RMB253.6 million.

    SEC regulatory involvement in Weidai Ltd

    Along with the financial report Weidai Ltd. has also reported that it is cooperating fully with SEC and government authority for the smooth peer-to-peer exit. Since the regulatory guidance issued by the PRC government in 2019, the guidance states the full exiting of the peer-to-peer industry. This is done in order for the transformation of online lending information intermediary institutions into pilot micro credit companies.

  • 17 Software Application Stocks You Can’t Ignore In 2020

    17 Software Application Stocks You Can’t Ignore In 2020

    The Software Application industry is heading towards an era of new growth as the demand for software applications is increasing. In the current period, new technologies are emerging which in turn completely changing how companies interact with, develop, and use the software.  Emerging markets, new products, complex business models, and increasing demands stimulated the growth of this industry.

    The companies in this industry are involved in the development of new application software that enhanced flexibility and reduces risks.  This industry has a huge marketplace and has many profitable opportunities. 2020 taught us that this industry is very important and it will continue to rise in the future. The industry helped people to interact and communicate with one another in the current period of a pandemic.

    Check out the top 17 leading companies in the software Application Industry that need your attention:

    Marin Software Incorporated (NASDAQ: MRIN)

    Marin Software Incorporated (NASDAQ: MRIN) shares were trading up 62.74% at $3.45 at the time of writing on Friday. Marin Software Incorporated (NASDAQ: MRIN) share price went from a low point around $0.77 to briefly over $5.70 in the past 52 weeks, though shares have since pulled back to $3.45. MRIN market cap has remained high, hitting $14.80M at the time of writing, giving it a price-to-sales ratio of more than 0.

    Marin Software Incorporated (MRIN) has earlier revealed that it is scheduled to report its financial results for the quarter ended September 30, 2020, on November 5 after the market close. If we look at the recent analyst rating MRIN, Stifel downgraded coverage on MRIN shares with a Hold rating and a $2.00 price target, which implies room for -1.45% downside momentum this year.

    Fastly Inc. (NYSE: FSLY)

    Fastly Inc. (NYSE: FSLY) stock drop by -3.61% to $76.35 after FSLY Final Deadline Tomorrow: Rosen, A Globally Recognized Firm, Reminds Fastly, Inc. Investors of Important October 26 Deadline in Securities Class Action; Encourages Investors with Losses in Excess of $100K to Contact the Firm – FSLY. The most recent rating by Piper Sandler, on October 23, 2020, is at an Underweight.

    Zedge Inc. (AMEX: ZDGE)

    Zedge Inc. (AMEX: ZDGE) last closed at $2.54, in a 52-week range of $0.66 to $2.10. Analysts have a consensus price target of $3.00. Zedge Inc. (ZDGE) has earlier revealed the fiscal fourth quarter and full fiscal-year results of 2020 of the quarter ended July 31, 2020. It has reported an increase in revenue to $2.7 million. Its paid subscription revenue rose 378% to $0.6 million.

    Uber Technologies Inc. (NYSE: UBER)

    Uber Technologies Inc. (NYSE: UBER) shares headed rising, higher as much as 0.14%. The most recent rating by Daiwa Securities, on August 21, 2020, is at an Outperform. Uber Technologies Inc. (UBER) has earlier disclosed that it will announce its third-quarter 2020 financial results on November 5, 2020.

    Lyft Inc. (NASDAQ: LYFT)

    Lyft Inc. (NASDAQ: LYFT) rose 1.72% after gaining more than $0.44 on Friday. Lyft Inc. (LYFT) earlier announced that it will share its third-quarter 2020 financial results on November 10, 2020. It has moved up 78.69% from its 52-weeks low and moved down -52.26% from its 52-weeks high.  Looking at its liquidity, it has a current ratio of 1.60. Lyft Inc. has a total market capitalization of $7.98 billion at the time of writing.

    Slack Technologies Inc. (NYSE: WORK)

    Slack Technologies Inc. (NYSE: WORK) last closed at $28.76, in a 52-week range of $15.10 to $40.07. Analysts have a consensus price target of $30.62. Slack Technologies Inc. (WORK) Chief Executive Officer and Co-Founder Stewart Butterfield, and Vice President of Product Ilan Frank has earlier participated in a fireside chat hosted by Alex Zukin, Managing Director, Software Equity Research at RBC Capital Markets on Tuesday, October 13, 2020.

    Ideanomics Inc. (NASDAQ: IDEX)

    Ideanomics Inc. (NASDAQ: IDEX) shares headed falling, lower as much as -2.39%. Ideanomics Inc. (IDEX) has earlier announced the acquisition of California-based Solectrac, Inc. for the consideration of $1.3 million. Solectrac develops, assembles, and distributes 100% battery-powered electric tractors—an alternative to diesel tractors for agriculture and utility operations.

    Snowflake Inc. (NYSE: SNOW)

    Snowflake Inc. (NYSE: SNOW) fall -10.78% after losing more than -$32.04 on Friday. Snowflake Inc. (SNOW), a software maker whose stock debuted with the biggest U.S. initial public offering in 2020, signed a deal worth millions of dollars with Goldman Sachs Group Inc. earlier this year.

    Weidai Ltd. (NYSE: WEI)

    Weidai Ltd. (NYSE: WEI) last closed at $1.90, in a 52-week range of $0.73 to $6.50. Analysts have a consensus price target of $2.16. Weidai Ltd. (WEI) has earlier issued a statement regarding the unusual trading activity related to the American depositary shares of the Company on the New York Stock Exchange.

    Citrix Systems Inc. (CTXS)

    Citrix Systems Inc. (CTXS) stock drop by -3.11% to $122.71. The most recent rating by Morgan Stanley, on October 23, 2020, is at an Equal-weight. Citrix Systems Inc. (CTXS) and Upwork have earlier announced that they have decided to expand their collaboration to empower flexible work models and provide fast, easy, and secure access to untapped pools of specialized talent to fuel business innovation and growth.

    Digital Turbine Inc. (NASDAQ: APPS)

    Digital Turbine Inc. (NASDAQ: APPS) shares headed rising, higher as much as 3.01%. The most recent rating by Ladenburg Thalmann, on August 06, 2020, is at a Buy. Digital Turbine Inc. (APPS) has announced earlier that it will host the conference call and webcast to discuss its fiscal 2021 second-quarter financial results and operating progress on Thursday, October 29.

    Unity Software Inc. (NYSE: U)

    Unity Software Inc. (NYSE: U) fall -3.65% after losing more than -$3.68 on Friday. Unity Software Inc. (U) has earlier announced its partnership with three groups including Pledge 1%, a global movement which urged companies to donate 1% of their profit to local communities,  Rare Beauty, the cosmetic company founded by Selena Gomez, and Playing for the Planet,  an alliance of private video game sector member organizations who have committed to harnessing the power of their platforms to take action on the climate crisis

    salesforce.com inc. (NYSE: CRM)

    salesforce.com inc. (NYSE: CRM) last closed at $250.52, in a 52-week range of $115.29 to $284.50. Analysts have a consensus price target of $275.89. salesforce.com inc. (CRM) disclosed a significant expansion of Work.com to help companies get back to growth and thrive in the new normal.

    9F Inc. (NASDAQ: JFU)

    9F Inc. (NASDAQ: JFU) stock drop by -4.14% to $1.39. National law firm Barr Law Group has earlier announced that it is investigating Dividend and Income Fund, 9F Inc., and Stratus Properties Inc. It has moved up 93.06% from its 52-weeks low and moved down -89.93% from its 52-weeks high.  JFU market cap has remained high, hitting $283.00 million at the time of writing.

    Datadog Inc. (NASDAQ: DDOG)

    Datadog Inc. (NASDAQ: DDOG) shares headed rising, higher as much as 3.17%. The most recent rating by Berenberg, on October 07, 2020, is at a Hold. Datadog Inc. (DDOG) that the Gartner Peer Insights ‘Voice of the Customer’: Application Performance Monitoring report named Datadog an October 2020 Customers’ Choice.

    Riot Blockchain Inc. (NASDAQ: RIOT)

    Riot Blockchain Inc. (NASDAQ: RIOT) stock drop by -3.58% to $3.91. Riot Blockchain Inc. (RIOT) share price went from a low point around $0.51 to briefly over $4.58 in the past 52 weeks. It has moved up 665.17% from its 52-weeks low and moved down -14.63% from its 52-weeks high.  RIOT market cap has remained high, hitting $198.39 million at the time of writing.

    Cloudera Inc. (NYSE: CLDR)

    Cloudera Inc. (NYSE: CLDR) rose 1.17% after gaining more than $0.12 on Friday. Cloudera Inc. (CLDR) share price went from a low point around $4.76 to briefly over $14.20 in the past 52 weeks. It has moved up 117.65% from its 52-weeks low and moved down -27.03% from its 52-weeks high.  CLDR market cap has remained high, hitting $3.17 Billion at the time of writing.