Blackboxstocks (BLBX) – Blackboxstocks Acquiring Evtec Aluminum


Thursday, December 14, 2023

Blackboxstocks, Inc. is a financial technology and social media hybrid platform offering real-time proprietary analytics and news for stock and options traders of all levels. Our web-based software employs “predictive technology” enhanced by artificial intelligence to find volatility and unusual market activity that may result in the rapid change in the price of a stock or option. Blackbox continuously scans the NASDAQ, New York Stock Exchange, CBOE, and all other options markets, analyzing over 10,000 stocks and up to 1,500,000 options contracts multiple times per second. We provide our users with a fully interactive social media platform that is integrated into our dashboard, enabling our users to exchange information and ideas quickly and efficiently through a common network. We recently introduced a live audio/video feature that allows our members to broadcast on their own channels to share trade strategies and market insight within the Blackbox community. Blackbox is a SaaS company with a growing base of users that spans 42 countries; current subscription fees are $99.97 per month or $959.00 annually. For more information, go to: www.blackboxstocks.com .

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

Evtec Aluminum. Blackbox announced that the Company has executed a definitive agreement to acquire Evtec Aluminum Limited. The transaction is expected to close in the first quarter of 2024 and is subject to customary closing conditions including but not limited to regulatory, lender, and stockholder approval.

What is Evtec Aluminum? Evtec Aluminum is a supplier of proprietary mission critical parts for the Electric Vehicle, Hybrid, Performance, and Luxury OEM automotive markets. They supply parts to brands such as JLR (formerly Jaguar Land Rover), Aston Martin, Ford, Bentley, and auto suppliers including Dana, American Axle, Cox Powertrain, among others.


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Aurania Resources (AUIAF) – What is in Store for 2024?


Thursday, December 14, 2023

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

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Pursuing an exploration license in France. Through a French subsidiary, Aurania earlier this year applied for an exploration license in the Brittany Peninsula of northwestern France which is part of the orogenic Variscan belt. The concession area, in the Morbihan Department, has historically been the site of significant high-grade gold finds. Aurania applied for a 51 square kilometer exploration permit immediately in the vicinity of a major shear zone. The existence of high gold concentrations in quartz veins indicates that a major hydrothermal system was active in the area bounded by Aurania. Once the applications are approved and received, we expect Aurania to publicly disclose more about its plans for the property.

Maximizing the value of projects in Ecuador and Peru. Aurania continues to seek joint venture or partnership agreements to advance its projects in Ecuador and Peru and create value for shareholders. In our view, it would be beneficial to have agreements in place prior to March concession renewals in Ecuador. Without agreements in place, the partnership would likely consider dropping certain concessions. We think Aurania’s interests in Peru could be monetized. Aurania continues to build on its strong social license by engaging with local communities in Ecuador and advancing social programs and initiatives within the Lost Cities project area. 


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Snail (SNAL) – Highlights From Noblecon19


Wednesday, December 13, 2023

Snail is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs and mobile devices.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.

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

Noblecon19. On December 4th, management presented at Noblecon19 at Florida Atlantic University (FAU) in Boca Raton, Florida, to the investment community. The presentation conducted by Jim Tsai, CEO, and Heidy Chow, CFO, highlighted the success of the recently released Ark: Survival Ascended title and provided notable updates on the product release roadmap heading into 2024.  

Strong release. Ark: Survival Ascended is a remastered version of the Ark game with all previously released DLC packages. In the first 30 days following the release of Ark: Survival Ascended, 700 thousand units were sold on Steam and it was the best seller the weekend of the launch.


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Orion Group Holdings (ORN) – NobleCon19 Presentation Notes


Wednesday, December 13, 2023

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

NobleCon19. Orion Group Holdings CEO Travis Boone and CFO Scott Thanisch presented at NobleCon19. Management highlighted recent improvements at the Marine and Concrete segments and the strategy for growth. A rebroadcast is available at https://www.channelchek.com/videos/orion-group-holdings-noblecon19-replay.

Marine Segment. Orion’s Marine segment is being provided with some tailwinds for growth, including U.S. Navy expansion in the Pacific with Orion’s contract award earlier in the year, and port expansion and maintenance, among other events. The segment also carries a diversified revenue base, with 46% being in private customers and the remaining 54% being the government (34% state and local, 20% federal).


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Onconova Therapeutics (ONTX) – Poster Presentations Show Activity Of Narazaciclib In Breast Cancer and Lymphoma


Wednesday, December 13, 2023

Onconova Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing novel products for patients with cancer. The Company has proprietary targeted anti-cancer agents designed to disrupt specific cellular pathways that are important for cancer cell proliferation. Onconova’s novel, proprietary multi-kinase inhibitor narazaciclib (formerly ON 123300) is being evaluated in a combination trial with estrogen blockade in advanced endometrial cancer. Based on preclinical and clinical studies of CDK 4/6 inhibitors, Onconova is also evaluating opportunities for combination studies with narazaciclib in additional indications. Onconova’s product candidate rigosertib is being studied in multiple investigator-sponsored studies. These studies include a dose-escalation and expansion Phase 1/2a study of oral rigosertib in combination with nivolumab in patients with KRAS+ non-small cell lung cancer, a Phase 2 program evaluating rigosertib monotherapy in advanced squamous cell carcinoma complicating recessive dystrophic epidermolysis bullosa (RDEB-associated SCC), and a Phase 2 trial evaluating rigosertib in combination with pembrolizumab in patients with metastatic melanoma.

Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.

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

Additional Presentations At Medical Meetings Show Broad Activity and Targeting. In the past week, Onconova has presented additional narazaciclib data at the American Society of Hematology (ASH) conference and the San Antonio Breast Cancer Symposium (SABCS). These presentations show broad multi-kinase activity, improved inhibition of tumor growth, and synergy with other drugs used in mantle cell lymphoma.

The Data Are Consistent With Earlier Presentations. The additional data details broad multi-kinase effects of narazaciclib. Comparisons with the three approved CDK4/6 inhibitors have shown narazaciclib stops cancer cell proliferation by inhibiting more targets and leads to potent, irreversible G1cell cycle blockade. Its side effect profile allows for daily dosing, rather than the 3-week dosing followed by a week of rest to allow recovery.


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Information Services Group (III) – NobleCon19 Presentation Notes


Wednesday, December 13, 2023

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For additional information, visit www.ISG-One.com

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

NobleCon19. Information Services Group CEO Michael Connors and CFO Michael Sherrick presented at NobleCon19. Management highlighted how ISG’s service can enable clients to be more efficient and effective in the deployment of their technology, a focus on recurring revenue and growth, and returning value to shareholders. A rebroadcast is available at https://www.channelchek.com/videos/information-services-group-noblecon19-replay.

Recurring Revenue. Recurring revenue for the Company has been about $125 million over the trailing twelve months, and has accounted for 42% of firm-wide total revenue year-to-date. ISG has set a new Company goal of $150 million in annual recurring revenues by 2025 and we believe that the Company can achieve this goal.


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*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) – NobleCon19 Presentation Notes


Wednesday, December 13, 2023

Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States. In addition, Great Lakes is fully engaged in expanding its core business into the rapidly developing offshore wind energy industry. The Company has a long history of performing significant international projects. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 131-year history, the Company has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprised of approximately 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the Company’s culture. The Company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

NobleCon19. Great Lakes CEO Lasse Petterson and CFO Scott Kornblau presented at NobleCon19. Highlights included record backlog, the improving quality of the Company’s backlog, and the opportunity the wind market is providing for Great Lakes. A rebroadcast is available at https://www.channelchek.com/videos/great-lakes-dredge-dock-noblecon19-replay.

Size of Backlog. Great Lakes’ backlog is at a record $1.03 billion and consists of roughly 71% in capital projects. The bid market has continued to remain strong, as year-to-date, the market has totaled $1.8 billion compared to $1.3 billion for all of last year and a $1.4 billion five year average. The Company expects the market to grow to $2 billion by the end of the year. 


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Beasley Broadcast Group (BBGI) – Highlights From Noblecon19


Wednesday, December 13, 2023

Beasley Broadcast Group, Inc. owns and operates 61 stations (47 FM and 14 AM) in 15 large- and mid-size markets in the United States. Approximately 20 million consumers listen to the Company’s radio stations weekly over-the-air, online and on smartphones and tablets, and millions regularly engage with the Company’s brands and personalities through digital platforms such as Facebook, Twitter, text messaging, digital and web applications and email. The Overwatch League’s Houston Outlaws esports team is a wholly owned subsidiary. The Company also owns BeasleyXP, a national esports content hub, and AXLR-R8, a Rocket League Championship Series team, in its esports portfolio. For more information, please visit www.bbgi.com.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

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

Noblecon19. On December 4th, management presented at Noblecon19 at Florida Atlantic University (FAU) in Boca Raton, Florida, to the investment community. The presentation conducted by Caroline Beasley, CEO, Tina Murley, CRO, and Marie Tedesco, CFO, focused on growing digital revenues, improving digital margins and reducing debt. 

Digital growth. From Q3 2019 to Q3 2023, the company’s digital revenues have grown at a 23% CAGR, and comprised nearly 19% of total revenues in Q3 2023. Notably, the company has a monthly average digital audience of 13.6 million and its owned and operated assets are viewed as a catalyst for improving digital margins.


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Bit Digital (BTBT) – November Production Numbers Released


Thursday, December 07, 2023

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

Increasing Production. During November, Bit Digital produced 142.7 BTC, a 24% increase from 111.6 BTC last month. The increase was primarily driven by the increase in the Company’s active hash rate, which was at 2.25 EH/s as of November 30, 2023 compared to 2.0 EH/s last month, and Bit Digital did not experience any maintenance outages.

Staking. Over on the staking side, Bit Digital had approximately 12,784 ETH actively staked in native and liquid staking protocols as of November 30, 2023. Approximately 12,384 ETH were natively staked and 400 ETH were deployed in liquid staking protocols as of that date. The Company earned a blended APY of approximately 4.35% on its staked ETH position for the month, and earned aggregate staking rewards of approximately 44.93 ETH.


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*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. 

Alvopetro Energy (ALVOF) – Production Volumes Rebounding Nicely


Thursday, December 07, 2023

Alvopetro Energy Ltd.’s vision is to become a leading independent upstream and midstream operator in Brazil. Our strategy is to unlock the on-shore natural gas potential in the state of Bahia in Brazil, building off the development of our Caburé natural gas field and our strategic midstream infrastructure.

Michael Heim, Senior Vice President, Equity Research Analyst, Energy & Transportation, Noble Capital Markets, Inc.

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

Alvopetro released November production volumes that accelerated its recent upward trend. Alvopetro reported November gas production of 12.9 mmcfe/day (up from 10.6 mmcfe/day in October), oil production of 15 boe/day (vs. 8 boe/day), and NGL production of 105 boe/day (up from 67 boe/day). Production was depressed over the summer due to allocation issues with a joint venture partner and demand issues from Bahia Gas, Alvopetro’s primary natural gas customer. Total production was 2,264 boe/day in November.

Total production remains below peak levels but is approaching that level quickly. Production peaked at 2,771 MBOE/day in the quarter ended March 31, 2023. However, with production rising 425 MBOE/day in the most recent month, it is quickly returning to past production levels. Importantly, oil and natural gas production is the fastest growing component of Alvopetro energy portfolio providing additional diversification and lessening its reliance on Bahia Gas.


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*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. 

The GEO Group (GEO) – Senior Leadership Shuffle


Friday, December 01, 2023

The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO’s diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO’s worldwide operations include the ownership and/or delivery of support services for 103 facilities totaling approximately 83,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 18,000 employees.

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

New CEO. Yesterday, GEO announced Brian Evans, who has been with the Company for 23 years and has served as the Company’s Chief Financial Officer for 14 years, has been appointed Chief Executive Officer, effective January 1, 2024. Current CEO Jose Gordo is transitioning to an advisor role, by mutual agreement. Given Mr. Evans’ familiarity with GEO and his strong performance as CFO, we believe this is a strong choice for the Company.

Zoley Term. Company founder and Executive Chairman George Zoley will step down as Executive Chairman as of June 30, 2026, the end of his current employment term. Mr. Zoley then will transition into the role as an advisor to the Company, while continuing to serve as the Company’s non-Executive Chairman of the Board of Directors.


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AdTheorent (ADTH) – Positioned To Outshine Favorable Industry Growth


Thursday, November 30, 2023

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.

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

Initiating coverage with an Outperform rating and $4 price target. AdTheorent is a privacy-forward, programmatic advertising company that uses cutting edge, machine-learning technology to deliver targeted ad campaigns. We believe the company has meaningful technology advantage over many of its peers, which may rely on user IDs and third-party cookies, explained in this report. Our favorable rating is based on our positive cash flow growth outlook for the company.  

Ahead of the curve. Through its proprietary machine learning technology, the company’s demand-side platform (DSP) uses anonymized data points to create predictive algorithms to target digital audiences. Given Google’s indication that it will be phasing out the use of third-party cookies, AdTheorent’s ML technology could be a significant competitive advantage in the digital advertising industry going forward.  


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*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. 

Century Lithium Corp. (CYDVF) – Major Catalysts on the Horizon


Thursday, November 30, 2023

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

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

Feasibility study expected by year-end. During the third quarter, Century Lithium focused on pilot plant operations and completing the Clayton Valley Lithium Project feasibility study which is expected by year-end. Estimates for the feasibility study have been updated based on optimization and evaluation of economic scenarios, including the start-up schedule and potential by-products, including sodium hydroxide. Most of the work remaining is focused on completion of the economic model, sensitivity analysis, and finalizing capital and operating costs.

Collaboration with Koch. Century’s collaboration with Koch Technology Solutions on the direct lithium extraction (DLE) section of the pilot plant continues with results to date meeting expectations. The company has achieved an average lithium recovery rate of 85% and average DLE recovery greater than 99.5% with continued success in producing battery grade lithium carbonate from pilot plant solutions treated at Saltworks Technologies Inc.


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*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.