Month: June 2020

C1 Technology to Produce High-Level and Cost-Effective Biologics to Combat Coronavirus

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Wednesday, June 10, 2020

Dyadic International Inc. (DYAI)

C1 Technology to Produce High-Level and Cost-Effective Biologics to Combat Coronavirus

Dyadic International, Inc. is a global biotechnology company which is developing what it believes will be a potentially significant biopharmaceutical gene expression platform based on the industrially proven hyper productive engineered fungus Thermothelomyces heterothallica (formerly Myceliophthora thermophila), named C1.
The C1 microorganism, which enables the development and large scale manufacture of low cost proteins, has the potential to be further developed into a safe and efficient expression system that may help speed up the development, lower production costs and improve the performance of biologic vaccines and drugs at flexible commercial scales. Dyadic is using the C1 technology and other technologies to conduct research, development and commercial activities for the development and manufacturing of human and animal vaccines and drugs, such as virus like particles (VLPs) and antigens, monoclonal antibodies, Fab antibody fragments, Fc-Fusion proteins, biosimilars and/or biobetters, and other therapeutic proteins. Dyadic pursues research and development collaborations, licensing arrangements and other commercial opportunities with its partners and collaborators to leverage the value and benefits of these technologies in development and manufacture of biopharmaceuticals. In particular, as the aging population grows in developed and undeveloped countries, Dyadic believes the C1 technology may help bring biologic vaccines, drugs and other biologic products to market faster, in greater volumes, at lower cost, and with new properties to drug developers and manufacturers, and improve access and cost to patients and the healthcare system, but most importantly save lives.

Ahu Demir, Ph.D., Biotechnology Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Coronavirus remains to be a major threat to human lives and the economy. The coronavirus pandemic is still a major threat to human lives. The number of confirmed cases reached over 7.1 million and the death attributed to Covid-19 now exceeds 400,000 globally, according to the World Health Organization.

    Manufacturing massive amounts of vaccines and antibodies may be an emerging hurdle. The regulatory agencies, biotechnology, and pharmaceuticals world combine efforts to combat coronavirus. The federal government plans to conduct Phase 3 clinical trials to assess vaccine candidates this summer. Many efforts are focused on rapid progress to bring an effective vaccination and treatment method on the market. However, producing massive amounts…


    Click to get the full report.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Are Individual Investors The “Smart Money”

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Would Anyone be Shocked if the Market Suddenly Capsized?

Is the market’s pricing mechanism temporarily broken, or is it now forever changed? Could it be that retail traders and investors are now the “smart money,” or will they be shown to be suckers? These are the debates taking place among veteran traders at their virtual “water-coolers” and among less-seasoned retail investors in online chat rooms and Facebook groups.

We’re approaching mid-year 2020, it’s a presidential election year that began with the stock-market breaking record highs while corporations were guiding earnings expectations lower. These were expected to be headlines that set the tone in the first half. These expectations have all but been overshadowed.  Since the new year opening bell on Thursday, January 2, 2020, we’ve experienced a rollercoaster record high in the S&P followed a rapid 30% drop, which rebounded in a “V-shaped” bottom to close even on the year.

Some of the most followed and admired investors, such as Warren Buffett, Stanley Druckenmiller, Jim Cramer, and others, famously missed the strongest rally in 90 years. At the same time, self-directed investors, mom and pop, and younger, less-seasoned newbies have been participating in some of Wall Street’s biggest and most unexpected moves. 

Hundreds of thousands of individual investors trading small positions online and from phone apps are pushing up prices of companies that have recently filed for bankruptcy protection or teetering on the edge of default.

In a market as different as the 2020 environment, it’s not surprising that the average daily trading volumes for some of the financially unsound names have been up as much as 30 times their 2019 average. The soaring companies are, in many cases, the same firms that have seen skyrocketing interest at brokerages popular with individual investors. 

The website Robintrack, which is not affiliated with the Robinhood trading application, downloads Robinhood’s trading data, then provides users with tools for analysis and allows downloads at no cost. Although Robintrack doesn’t capture data from other retail broker activity, the information can be used as a gauge of trends and popularity of the do-it-yourself investor.

Robinhood Favorites

Below are the top ten stocks (out of top 3000 by market cap) that have seen the largest increase in interest on Robinhood over the last month:

Out of the “Robinhood favorites,” all are household names that most people would recognize. With the exception of Invesco, all are experiencing severe financial challenges. The first on the list, American Airlines, lost $2.2 billion in the first quarter. The second most popular, Hertz, filed for bankruptcy protection on May 22.  The tenth on the list, Norwegian Cruise Lines, warned of a possible bankruptcy in late May. These three provide solid examples of retail popularity along with price movement that is helping to drive prices unpredictably.

 

American Airlines

Source: Robintrack, CNBC Data
Through 6/9/20

Despite the uncertainty in the airline sector, Robinhood users have gone from roughly zero holdings in American Airlines to almost 650,000 shares.  Shares are up 57.35% over the past five trading days, along with the increased volume.  Changes in data, activity, and increases in popularity on Robinhood may become additional indicators of short-term price movements for traders looking for trading plays.

Hertz

Source: Robintrack, CNBC Data Through 6/9/20

Robintrack’s data indicate that 159,000 of their users currently hold Hertz stock. That’s a record high and an increase of over 430% from 37,000 users a month ago. Over the past five trading days, the dramatic increase in volume has been accompanied by a 416% increase in stock price. Did the experts get this one wrong, or are smaller owners ignoring the risk of holding HTZ? Either way, there has been a large amount of money to be made by any standard.

 

Norwegian Cruise Lines

Source: Robintrack, CNBC Data Through 6/9/20

Norwegian Cruise Line’s growth in popularity from approximately zero to now close to 360,000 holders among Robinhood users ignores many of the challenges in the hospitality industry. However, the 39.61% increase in the stock price over the past five trading days has certainly been cause for many self-directed investors to feel their purchase is justified.

Taking from the Poor and Giving to
the Rich?

Are online self-directed investors ushering in a new era of profitable contrarian investing, or will the days ahead prove to be disappointing and costly? Despite the increase in activity, the average holding per user is small, even if Individually, their positions represent significant positions.  As far as Wall Street is concerned, retail is looked at as a block, despite the idea that the activity is hundreds of thousands of small investors rather than one or two institutions with billions taking a position.

The extraordinary movement in both stocks that are popular on Robinhood and in the market as a whole is still in the midst of a powerful move. Expectations among professionals are that historic unemployment and mounting corporate losses, along with a deep recession, will remove the giddiness among all market players. If the experts have it right, the upward movement across the major indexes cannot continue to attract new retail investors, and institutional investors are apt to stick with conventional valuations. These valuations suggest the market is overpriced. If these attitudes hold, it is a recipe for losses for those in the market. This may leave many retail investors battered.

 

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Invesco Ltd. Announces May 31, 2020 Assets Under
Management

Raising Price Target to $11.00 from $8.25

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Wednesday, June 10, 2020


DLH Holdings Corp. (DLHC)

Raising Price Target to $11.00 from $8.25

DLH Holdings Corp is a provider of technology-enabled business process outsourcing and program management solutions in the United States. The company offers services to several government agencies which include the Department of veteran affairs, Department of health and human services, Department of Defense and other government agencies. It operates primarily through prime contracts and also derives its revenue from agencies of the federal government, primarily as a prime contractor but also as a subcontractor to other Federal prime contractors.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Raising PT to $11.00. We are reiterating our Outperform rating and raising our twelve month price target to $11.00 per share, up from our previous $8.25 price target. At our new price target, DLHC shares would trade at 8.7x our fiscal 2020 adjusted EBITDA estimate and 0.9x our fiscal 2020 revenue estimate, still significant discounts to its peer group.

    Stock Outperformance YTD. After years of trading in the $4-$6 range, DLHC shares broke out this year, up 112% YTD, compared to a 7.8% decline YTD in the Russell 2000. In our view, the outperformance can be attributable to…


    Click to get the full report.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Getting Back to Normal

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Wednesday, June 10, 2020

Sierra Metals (SMTS)(SMT:CA)

Getting Back to Normal

As of April 24, 2020, Noble Capital Markets research on Sierra Metals is published under ticker symbols (SMTS and SMT:CA). The price target is in USD and based on ticker symbol SMTS. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.
Sierra Metals Inc is a precious and base metals producer in Latin America. The company acquires, explores, extracts, and produces mineral concentrates consisting of silver, copper, lead, zinc and gold in Mexico and Peru. Its activity includes the operation of the Yauricocha Mine in Peru, and the Bolivar and Cusi mines in Mexico. Yauricocha is an underground polymetallic mine using the sublevel block caving and cut-and-fill mining methods. Bolivar is a copper-silver-zinc-gold underground mine using room-and-pillar mining method. The majority of the revenue is earned by selling of the mineral concentrates to its customers in Peru.

Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Dialing up activity at Yauricocha and Bolivar.  Effective June 5, the Peruvian government activated Phase II of its economic recovery plan which includes mining activities. Sierra Metals expects to progressively ramp Yauricocha mine operations to full capacity. In Mexico, mining operations could resume on June 1 and the company recalled employees associated with the Bolivar mine. The company has established protocols to prevent the risk of COVID-19 infection at the mines. We expect that it could take several weeks for the mines to ramp up to full production. However, operational decisions will be influenced by concerns for the safety of employees and the work environment. Due to its operating flexibility, Yauricocha could recover a portion of production lost due to COVID-19 work restrictions.

    Base metals prices exhibit some strength. Copper, lead, and zinc prices have exhibited some strength in recent weeks as economies have re-opened and the outlook for demand has improved. Quarter to date through June 9, copper futures prices…


    Click to get the full report.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

New Build Program Approved and Fleet Renewal On Horizon.

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Wednesday, June 10, 2020

Great Lakes Dredge & Dock (GLDD)

New Build Program Approved and Fleet Renewal On Horizon.

Great Lakes Dredge & Dock Corp is a provider of dredging services in the United States. The company only’s operating segments is Dredging. Dredging involves the enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock. Its projects portfolio includes Coastal Restoration, Coastal Protection, Port expansion, and others.

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Fleet renewal on the horizon. New build one moves forward and option for new build two creates optionality. Final investment decision (FID) to build a 6,500 cubic yard (CY) hopper dredge was reached and a contract has been signed with Conrad Shipyard in Louisiana. The total cost of new build one approximates $97 million and delivery is expected in 1Q2023. There is a one-year option for new build two for $92.7 million so the total new build program could approach $190 million with delivery of new build two in late 2023. Full details of the new build program should be available once the 2Q2020 10-Q is filed in early August.

    Strong credit profile makes new build program manageable and debt refinancing likely.  The decline in net debt into the sub-$120 million range in 1Q2020 strengthened the credit profile and should allow for funding of the new build(s), plus refinancing of $325 million of existing debt once…



    Click to get the full report.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

DLH Holdings (DLHC) – Raising Price Target to $11.00 from $8.25

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Wednesday, June 10, 2020


DLH Holdings Corp. (DLHC)

Raising Price Target to $11.00 from $8.25

DLH Holdings Corp is a provider of technology-enabled business process outsourcing and program management solutions in the United States. The company offers services to several government agencies which include the Department of veteran affairs, Department of health and human services, Department of Defense and other government agencies. It operates primarily through prime contracts and also derives its revenue from agencies of the federal government, primarily as a prime contractor but also as a subcontractor to other Federal prime contractors.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Raising PT to $11.00. We are reiterating our Outperform rating and raising our twelve month price target to $11.00 per share, up from our previous $8.25 price target. At our new price target, DLHC shares would trade at 8.7x our fiscal 2020 adjusted EBITDA estimate and 0.9x our fiscal 2020 revenue estimate, still significant discounts to its peer group.

    Stock Outperformance YTD. After years of trading in the $4-$6 range, DLHC shares broke out this year, up 112% YTD, compared to a 7.8% decline YTD in the Russell 2000. In our view, the outperformance can be attributable to…


    Click to get the full report.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Great Lakes Dredge & Dock (GLDD) – New Build Program Approved and Fleet Renewal On Horizon.

Posted on by Admin

Wednesday, June 10, 2020

Great Lakes Dredge & Dock (GLDD)

New Build Program Approved and Fleet Renewal On Horizon.

Great Lakes Dredge & Dock Corp is a provider of dredging services in the United States. The company only’s operating segments is Dredging. Dredging involves the enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock. Its projects portfolio includes Coastal Restoration, Coastal Protection, Port expansion, and others.

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Fleet renewal on the horizon. New build one moves forward and option for new build two creates optionality. Final investment decision (FID) to build a 6,500 cubic yard (CY) hopper dredge was reached and a contract has been signed with Conrad Shipyard in Louisiana. The total cost of new build one approximates $97 million and delivery is expected in 1Q2023. There is a one-year option for new build two for $92.7 million so the total new build program could approach $190 million with delivery of new build two in late 2023. Full details of the new build program should be available once the 2Q2020 10-Q is filed in early August.

    Strong credit profile makes new build program manageable and debt refinancing likely.  The decline in net debt into the sub-$120 million range in 1Q2020 strengthened the credit profile and should allow for funding of the new build(s), plus refinancing of $325 million of existing debt once…



    Click to get the full report.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Sierra Metals (SMTS)(SMT:CA) – Getting Back to Normal

Posted on by Admin

Wednesday, June 10, 2020

Sierra Metals (SMTS)(SMT:CA)

Getting Back to Normal

As of April 24, 2020, Noble Capital Markets research on Sierra Metals is published under ticker symbols (SMTS and SMT:CA). The price target is in USD and based on ticker symbol SMTS. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.
Sierra Metals Inc is a precious and base metals producer in Latin America. The company acquires, explores, extracts, and produces mineral concentrates consisting of silver, copper, lead, zinc and gold in Mexico and Peru. Its activity includes the operation of the Yauricocha Mine in Peru, and the Bolivar and Cusi mines in Mexico. Yauricocha is an underground polymetallic mine using the sublevel block caving and cut-and-fill mining methods. Bolivar is a copper-silver-zinc-gold underground mine using room-and-pillar mining method. The majority of the revenue is earned by selling of the mineral concentrates to its customers in Peru.

Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Dialing up activity at Yauricocha and Bolivar.  Effective June 5, the Peruvian government activated Phase II of its economic recovery plan which includes mining activities. Sierra Metals expects to progressively ramp Yauricocha mine operations to full capacity. In Mexico, mining operations could resume on June 1 and the company recalled employees associated with the Bolivar mine. The company has established protocols to prevent the risk of COVID-19 infection at the mines. We expect that it could take several weeks for the mines to ramp up to full production. However, operational decisions will be influenced by concerns for the safety of employees and the work environment. Due to its operating flexibility, Yauricocha could recover a portion of production lost due to COVID-19 work restrictions.

    Base metals prices exhibit some strength. Copper, lead, and zinc prices have exhibited some strength in recent weeks as economies have re-opened and the outlook for demand has improved. Quarter to date through June 9, copper futures prices…


    Click to get the full report.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Townsquare Media (TSQ) – What Does Getting Current On Its Financial Reporting Mean For The Stock?

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Wednesday, June 10, 2020

Townsquare Media Inc (TSQ)

What Does Getting Current On Its Financial Reporting Mean For The Stock?

Townsquare Media Inc is an entertainment and media company offering digital marketing solutions in the United States and Canada. It owns and operates radio stations, social media properties focusing the small and mid-cap companies. Services offered to the clients include live events, local advertising, digital advertising, e-commerce offerings, few others. The segments through which the company operates its businesses are classified into Local marketing solutions and Entertainment segments. Revenues are generated from commercials through broadcasts and sale of internet based advertisements.

Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Files 10K. The company recently filed its 10K and provided some color on its $108.4 million non cash impairment charges and some measures it took to offset the Covid impact. The impairment charges are nothing new post Covid, as most Broadcasters have reported impairment on broadcast licenses. This impairment reflects a change in the valuation approach to those licenses, which we believe conservatively reflects the value of its licenses.

    Why we view the filing favorably.   With the 10K filing, the company is back on track toward regular financial reporting. It is expected to…



    Click to get the full report.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

What Does Getting Current On Its Financial Reporting Mean For The Stock?

Posted on by Admin

Wednesday, June 10, 2020

Townsquare Media Inc (TSQ)

What Does Getting Current On Its Financial Reporting Mean For The Stock?

Townsquare Media Inc is an entertainment and media company offering digital marketing solutions in the United States and Canada. It owns and operates radio stations, social media properties focusing the small and mid-cap companies. Services offered to the clients include live events, local advertising, digital advertising, e-commerce offerings, few others. The segments through which the company operates its businesses are classified into Local marketing solutions and Entertainment segments. Revenues are generated from commercials through broadcasts and sale of internet based advertisements.

Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Files 10K. The company recently filed its 10K and provided some color on its $108.4 million non cash impairment charges and some measures it took to offset the Covid impact. The impairment charges are nothing new post Covid, as most Broadcasters have reported impairment on broadcast licenses. This impairment reflects a change in the valuation approach to those licenses, which we believe conservatively reflects the value of its licenses.

    Why we view the filing favorably.   With the 10K filing, the company is back on track toward regular financial reporting. It is expected to…



    Click to get the full report.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Genprex Scheduled to Join Russell 3000 Index

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Genprex Scheduled to Join Russell 3000® Index

AUSTIN, Texas— (June 9, 2020) — Genprex, Inc. (“Genprex” or the “Company”) (Nasdaq: GNPX), a clinical-stage gene therapy company developing potentially life-changing technologies for patients with cancer and diabetes, today announced that it is scheduled to join the U.S. broad-market Russell 3000 Index when FTSE Russell, a leading global index provider, reconstitutes its 2020 indices after the markets close on Friday, June 26, according to a preliminary list of additions posted on their website on June 5.

The Russell 3000 Index includes the 3,000 publicly traded companies on the Nasdaq and NYSE exchanges with the largest market capitalizations. FTSE Russell determines membership for its Russell indexes primarily by objective market-capitalization rankings and style attributes (i.e. growth or value). Each June, the Russell 3000 index is reconstituted to reflect market capitalization changes over the prior year. This closely watched market event impacts more than $9 trillion in investor assets benchmarked to or invested in products based on the Russell U.S. indices.

“The selection of Genprex for the Russell 3000® Index will add to the awareness of our company among institutional investors, money managers and index funds, as well as highlight to them our suitability as an investment,” said Rodney Varner, Genprex’s Chairman and Chief Executive Officer. “This inclusion indicates that our leadership in developing gene therapies is resonating with investors. It comes at a time when we are preparing to initiate our Phase I/II clinical trial to evaluate our lead drug candidate, Oncoprex, in combination with AstraZeneca’s Tagrisso® for the treatment of non-small cell lung cancer (NSCLC) and preparing to file our IND to initiate a clinical trial of Oncoprex in combination with Merck’s Keytruda® in NSCLC. We believe our inclusion in the Russell 3000 Index is yet another significant milestone for us, as it will further increase our exposure with a broader group of institutional investors.”

In January 2020, Genprex was awarded U.S. FDA Fast Track designation for use of Oncoprex combined with Tagrisso for the treatment of NSCLC patients with EGFR mutations whose tumors progressed after treatment with Tagrisso alone. Genprex also signed an exclusive license agreement earlier in 2020 with the University of Pittsburgh for a preclinical diabetes gene therapy candidate that has the potential to cure Type 1 and Type 2 diabetes. Additionally, the Company has significantly strengthened its balance sheet in 2020 and had more than $23 million in cash on its balance sheet at the end of the first quarter of 2020, providing a substantial runway for it to execute on its clinical plans, conduct additional research and development, and cover general corporate expenses.

About Genprex, Inc.

Genprex, Inc. is a clinical-stage gene therapy company developing potentially life-changing technologies for patients with cancer and diabetes. Genprex’s technologies are designed to administer disease-fighting genes to provide new treatment options for large patient populations with cancer and diabetes who currently have limited treatment options. Genprex works with world-class institutions and collaborators to in-license and develop drug candidates to further its pipeline of gene therapies in order to provide novel treatment approaches. The Company’s lead product candidate, Oncoprex™, is being evaluated as a treatment for non-small cell lung cancer (NSCLC). Oncoprex has a multimodal mechanism of action that has been shown to interrupt cell signaling pathways that cause replication and proliferation of cancer cells; re-establish pathways for apoptosis, or programmed cell death, in cancer cells; and modulate the immune response against cancer cells. Oncoprex has also been shown to block mechanisms that create drug resistance. In January 2020, the U.S. Food and Drug Administration granted Fast Track Designation for Oncoprex immunogene therapy for NSCLC in combination therapy with osimertinib (AstraZeneca’s Tagrisso®). For more information, please visit the Company’s web site at www.genprex.com or follow Genprex on Twitter, Facebook and LinkedIn.

Forward-Looking Statements

Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding the effect of Genprex’s product candidates, alone and in combination with other therapies, on cancer and diabetes, regarding potential, current and planned clinical trials, regarding the Company’s future growth and financial status and regarding our commercial partnerships and intellectual property licenses. Risks that contribute to the uncertain nature of the forward-looking statements include the presence and level of the effect of our product candidates, alone and in combination with other therapies, on cancer; the timing and success of our clinical trials and planned clinical trials of Oncoprex™, alone and in combination with targeted therapies and/or immunotherapies, and whether our other potential product candidates, including our gene therapy in diabetes, advance into clinical trials; the success of our strategic partnerships; the timing and success of obtaining FDA approval of Oncoprex™ and our other potential product candidates including whether we receive fast track or similar regulatory designations; costs associated with developing our product candidates and whether patents will ever be issued under patent applications that are the subject of our license agreements. These and other risks and uncertainties are described more fully under the caption “Risk Factors” and elsewhere in our filings and reports with the United States Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. We undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Genprex, Inc.
(877) 774-GNPX (4679)

Investor Relations
GNPX Investor Relations
(877) 774-GNPX (4679) ext. #2
investors@genprex.com

Media Contact
Genprex Media Relations
(877) 774-GNPX (4679) ext. #3
media@genprex.com

Restaurants Post-Lockdown Look Good!

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As Lockdowns Come to an End, Are Customers Dining Out?

Industries hardest hit by the lockdown have the most potential for recovery.  Some still face significant unknowns about their future. Investors looking for signs of life in foodservice have been getting clear positive indications. Demand for dining out is returning, and there has been renewed activity showing up at their tables, in their earnings, and in their stock prices. The easing of pandemic restrictions on dining out has been regional, so recoveries are on different timelines. But the speed at which restaurants reached the allowed 25-50% capacity peak is very encouraging.  There doesn’t seem to be a high level of fear among patrons of leaving the house and being out among strangers. Ironically, pictures of the unrest during the past week and people throughout the world out and among crowds may be helping a mindset that it’s okay to be around others once more. All of this could quickly change if the Covid-19 cases surprise with a resurgence, or violence toward public places escalates. But, for now, the trend is very much in favor of customer traffic climbing above where it is now.

A Clear Trend

Recent sales data from restaurant chains such as Red Robin, Cheesecake Factory, and Dine Brands (Applebee’s, IHOP) have created renewed interest in the restaurant sector; it’s being reflected in price movement.

Monday June 1, through Monday June 8, the S&P 500 has risen 6.48% while these food and beverage stocks had much better results:

DENN 32.84%

FAT 19.03%

RUTH 26.21%

RRGB 62.74%

SHAK 15.56%

Visibility Looking Forward

One thing 2020 has reminded us of is that everything can change in a heartbeat. Last week, updates from a few well-known restaurants were a refreshing reminder that change swings both ways. An announcement from management at Cheesecake Factory said they had generated roughly 75% of the prior-year sales levels, driven by an increase in off-premise sales and rebounding dine-in business while operating under local capacity restrictions. Management hopes that 65% of dining rooms will be reopened by mid-June. Last week Red Robin released business updates expressing dine-in crowds were rebounding. Management at Red Robin expects to have 65% of its dining rooms open by June 7.

One bonus that may have come from this is curbside or take-out sales continue to generate meaningful revenue. As restaurants attain capacity levels in their dining rooms, they may incrementally do better than in the past if they can retain take-out customers. This suggests that its customer capacity per location may have permanently increased.

Now What?

Although the sales data and trends previously mentioned were positive, investors also have to remember that many restaurants will still be announcing financial pain experienced during the entire second quarter. Cheesecake Factory, for instance, recorded a 63% decline in same-store sales during the second quarter through May 31. Ultimately, restaurant stocks took a big hit, and now data has indicated the worst could be over. It’s no surprise to see relief buying of so many food and beverage companies.

New Normal in Dining

Some competitors of the restaurant industry will emerge from the pandemic in better shape than before. Grocery store chains and meal-kit companies grew their businesses during the pandemic. It’s likely that a percentage of these new customers will continue providing business. Privately owned restaurants may see traffic that may have otherwise gone to larger corporate-owned chains as people may want to support their neighborhood owners first.

Shares of restaurants are still trading farther below off their pre-pandemic high than the broader market indexes. If the trend toward filling dining rooms continues, the potential for greater interest in this sector could continue as well.

 

Suggested Reading:

Climbing a “Wall of Worry”

What Now? Post-Pandemic Stock Market Investing

Rearview Mirror Measurements in Economics

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Orion Group Holdings (ORN) – Elective Move to Bolster Liquidity. Positive Outlook Intact.

Posted on by Admin

Tuesday, June 9, 2020

Orion Group Holdings (ORN)

Elective Move to Bolster Liquidity. Positive Outlook Intact.

Orion Group Holdings, based in Houston, Texas, is a specialty construction company within the Marine and Industrial Construction sectors, with operations focused in the continental United States and Caribbean. Revenue is split roughly 50/50 between a Marine Construction segment that provides marine facility, pipeline and structural construction services and a Commercial Concrete segment that provides turnkey concrete services in the light commercial and structural construction markets.

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Elective move to boost current revolver of $50 million by $20 million is positive. The move was elective and it adds to previous liquidity of $25.6 million. Free cash flow was strong in 1Q2020, but cash management is important in the current environment, and capex and other spending, including the development of an ERP system, has been deferred. Monetizing idle/non-core assets, including real estate, is also probable over the next year.

    New award in Houston is a positive sign. The $30 million of concrete work on a multi-use tower structure is under way and will continue into 2H2021. Combined with a large Marine award, we are encouraged that…


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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision.