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Can consumers positively impact the current economic outlook?

Posted on August 15, 2019 by Admin

Can consumers positively impact the current economic outlook?

(Note: companies that could be impacted by the content of this article are listed at the base of the story (desktop version). This article uses third-party references to provide a bullish, bearish and balanced point of view; sources listed in the “Balanced” section)

In the month of July, consumer retail purchases in the U.S. escalated even though larger scale purchases, like motor vehicles, declined. This positive trending data may shed a little light on the current market as fears of a global recession rise. Amazon Prime Day and other competitive sales may have been a contributing factor to this growth. This increased consumer spending shows faith in the economy, which is an encouraging sign that will hopefully continue.

Research – Dyadic International (DYAI) – Data and Additional Partnerships to Expand Further Value

Posted on August 14, 2019 by Admin

Wednesday, August 14, 2019

Dyadic (DYAI)

Data and Additional Partnerships to Expand Further Value

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, Biotechnology Research Analyst, Noble Capital Markets, Inc.

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

Progressing Towards Validation of Technology. We continue to believe that the major inflection point for DYAI shares is further validation of C1 technology in biologic manufacturing, data expected by year-end 2019. This will also open doors for additional partnership opportunities.
Second Quarter Earning Update. On August 13, the company reported $0.4 million in revenues, $0.7 million in R&D expenses and $1.4 million in G&A expenses. Net loss was $2.2 million, or ($0.08) per share. The reported numbers are in line with…

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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 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.

Research – electroCore (ECOR) – Soothing Investors’ Migraine a Bit?

Posted on August 14, 2019 by Admin

Wednesday, August 14, 2019

electroCore (ECOR)

Soothing Investors’ Migraine a Bit?

electrocore Inc is a commercial-stage bioelectronic medicine company with a platform for non-invasive vagus nerve stimulation therapy initially focused on neurology and rheumatology. Its product gammaCore is FDA-cleared for the acute treatment of pain associated with migraine and episodic cluster headache in adults.

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

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

Revenue is growing. The company reported $0.6 million of revenue (+52%), 1,000 paid prescriptions (+52%) and 2,451 prescribing physicians (+11%) in this quarter relative to the previous quarter.
Calming of chopping waters. We believe the recent numbers represent a positive trend, following multiple gloomy news in previous quarter. The current revenue ramp-up was driven by…

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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).

Research – Pangaea Logistics (PANL) – Lower 2Q2019 Shipping Days, But Rebound Ahead

Posted on August 14, 2019 by Admin

Wednesday, August 14, 2019

Pangaea Logistics (PANL)

Lower 2Q2019 Shipping Days, But Rebound Ahead

Pangaea Logistics Solutions Ltd and its subsidiaries provide seaborne drybulk transportation services. It transports drybulk cargos including grains, coal, iron, ore, pig, iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite and limestone. The firm’s services include cargo loading, cargo discharge, vessel chartering, voyage planning and technical vessel management.

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

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

Market turmoil triggered a retrenchment but consistent business model delivered solid results. 2Q2019 results were below our estimate due to lower shipping days, but 2Q2019 EBITDA of $11.3 million was higher than 1Q2019 EBITDA of $8.6 million and TCE rates of $12,933/day were above our estimate and 1Q2019 levels. The business model continues to deliver outperformance and the TCE premium to the BPI/BSI market indices was $4,268/day, close to 1Q2019 premium of $4,869/day and well above $2,801/day in 4Q2018.
To reflect the 2Q2019 variance, we are moving our 2019 EBITDA estimate to $55.5 million in 2019 (from $60.9 million). Estimate is based on…

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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).

Research – ProMIS Neurosciences (PMN:CA) – Strengthening Drug Portfolio by Adding Novel Alzheimer’s Antibodies

Posted on August 14, 2019 by Admin

Wednesday, August 14, 2019

ProMIS Neurosciences (PMN:CA)

Strengthening Drug Portfolio by Adding Novel Alzheimer’s Antibodies

ProMIS Neurosciences, Inc., a development stage biotech company, discovers and develops precision medicine therapeutics for the treatment of neurodegenerative diseases, primarily Alzheimer’s disease (AD) and amyotrophic lateral sclerosis (ALS).

Cosme Ordonez, MD, Ph.D., Senior Life Sciences Analyst, Noble Capital Markets, Inc.

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Identification of novel drug candidates for the treatment of Alzheimer’s disease. Q2/2019, ProMIS Neurosciences identified several antibody drug candidates targeting the protein Tau, which is a primary pharmaceutical target for the treatment of Alzheimer’s disease.
Robust drug portfolio. ProMIS has now developed antibodies against toxic oligomers derived from two primary Alzheimer’s targets, Tau and Amyloid beta. In addition, the company’s drug portfolio includes…

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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).

Research – QuoteMedia, Inc. (QMCI) – Second Quarter Results Indicate Favorable Momentum

Posted on August 14, 2019 by Admin

Wednesday, August 14, 2019

QuoteMedia, Inc. (QMCI)

Second Quarter Results Indicate Favorable Momentum

QuoteMedia, based in Fountain Hills, Arizona, provides cloud-based financial data, market news feeds, and financial software solutions. Its customers include financial service companies, online brokerages, clearing firms, banks, media portals, public corporations and individual investors. The company provides a single source solution providing products such as streaming quotes, charting, historical data, technical analysis, news and research. Information can customized and provided to multiple platforms including terminals and mobile devices.

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

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

Solid second quarter. Total company revenues of $2.985 million increased an attractive 6.7%, in line with our $2.970 million revenue estimate. Operating cash flow (adj. EBITDA) was slightly better than expected at $0.577 million versus our estimate of $0.513 million.
Attractive sequential growth. The second quarter represented an attractive 4% sequential revenue growth from the first quarter, one of the company’s best performances since…

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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).

Research – Harte Hanks (HHS) – Substantial Progress Made

Posted on August 13, 2019 by Admin

Tuesday, August 13, 2019

Harte-Hanks (HHS)

Substantial Progress Made

Harte-Hanks is a marketing services company that provides multichannel marketing solutions as well as consulting, data analytics, and strategic assessment. The company’s offerings focus on business-to-business, retail, finance, and automotive segments through digital, social, mobile, and print media offerings.

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

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

Second quarter reflects significant cost cutting. While revenues were lighter than expected, the company overachieved on operating cash flow with a adj. EBITDA loss of $1.76 million versus our loss estimate of $5.6 million. Notably, management indicated that not all of the cost cuts were reflected in the quarter.
Flowing through a large portion of the upside. We are adjusting our full year 2019 adjusted EBITDA loss estimate from a loss of…

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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).

Research – Pyxis (PXS) – On Track for Rebound

Posted on August 13, 2019 by Admin

Tuesday, August 13, 2019

Pyxis Tankers (PXS)

On the Right Track for 2H2019 Rebound

Pyxis Tankers Inc is a US-based international maritime transportation company which focuses on the product tanker sector. It owns a fleet which comprises of six double hull product tankers, which are employed under a mix of short- and medium-term time charters and spot charters.

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

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

Some positive traction in 2Q2019. Adjusted 2Q2019 EBITDA of $1.3 million was in line with our estimate and above 1Q2019 EBITDA of $0.5 million, mainly due to better performance from the MR tankers. Versus 1Q2019, TCE revenue ($0.6 million) and slightly lower opex slightly lower G&A expenses ($0.1 million) were the main variances.
Adjusted 2019 estimate reflects expected 2H2019 recovery. Our new 2019 EBITDA estimate is $5.8 million, which incorporates quarterly results and TCE rates of…

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Research – E.W. Scripps (SSP) – Surprising Reaction to a Good Quarter

Posted on August 13, 2019 by Admin

Second quarter overachieves expectations. Second quarter revenues were roughly in line with expectations ($336.7 million versus our $339.7 million), but cash flow (adj. EBITDA) over achieved expectations ($47.6 million versus our $38.2 million estimate). Stronger results in the National Media segment accounted for the variance in our estimates.

Third quarter guidance a little better. The company’s Local Media business appears
to be doing slightly better than we thought. This is offset by higher than
expected…

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Research – E.W. Scripps (SSP) – A Surprising Reaction

Posted on August 13, 2019 by Admin

Tuesday, August 13, 2019

E.W. Scripps (SSP)

Posts A Good Quarter; A Surprising Reaction

The E.W. Scripps Company serves audiences and businesses through a growing portfolio of media brands. Scripps currently has 34 radio stations and will expand to over 50 stations with recently announced acquisitions. In addition to its Television station portfolio, SSP runs an expanding collection of national businesses, including podcasting content and infrastructure, a cable network and digital news business, and national broadcast networks.

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

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

Second quarter overachieves expectations. Second quarter revenues were roughly in line with expectations ($336.7 million versus our $339.7 million), but cash flow (adj. EBITDA) over achieved expectations ($47.6 million versus our $38.2 million estimate). Stronger results in the National Media segment accounted for the variance in our estimates.
Third quarter guidance a little better. The company’s Local Media business appears to be doing slightly better than we thought. This is offset by higher than expected…

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Research – Salem Media (SALM) – Hitting Fast Forward

Posted on August 13, 2019 by Admin

Tuesday, August 13, 2019

Salem Media (SALM)

Fast Forward To 2020

Salem Media Group is America’s leading radio broadcaster, Internet content provider, and magazine and book publisher targeting audiences interested in Christian and family-themed content and conservative values. In addition to its radio properties, Salem owns Salem Radio Network, which syndicates talk, news and music programming to approximately 2700 affiliates; Salem Radio Representatives, a national radio advertising sales force; Salem Web Network, a leading Internet provider of Christian content and online streaming; and Salem Publishing, a leading publisher of Christian themed magazines.

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

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

Second quarter disappoints. Adjusted 2Q2019 EBITDA of $1.3 million was in line with our estimate and above 1Q2019 EBITDA of $0.5 million, mainly due to better performance from the MR tankers. Versus 1Q2019, TCE revenue ($0.6 million) and slightly lower opex slightly lower expenses ($0.1 million) were the main variances.
Third quarter outlook. Management provided third quarter revenue guidance to decrease between 4% and 6%, which also reflects planned asset sales. Operating expenses were…

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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).

Can Hong Kong Retain Its Autonomy?

Posted on August 13, 2019 by Admin

Can Hong Kong Retain Its Autonomy?

Hong Kong protests started when opposition arose against the now-suspended bill which would have granted Beijing the ability to extradite suspects to mainland China. Activists are fighting against the erosion of constitutional freedoms and democratic processes which have been instated in Hong Kong’s Basic Law. Article 45 of the Basic Law, instated in 1990, states that the chief executive, Hong Kong’s highest-ranking political member, is selected through “universal suffrage upon nomination by a broadly representative nominating committee in accordance with democratic procedures.” In the Basic Law, Beijing will need to approve all voter decisions made by the people in Hong Kong. The National People’s Congress Standing Committee ruled that in order for a candidate to appear on the Hong Kong voting ballot, they would have to receive more than half of the votes from the nominating committee. This would make it, so that the ballot is identical to the picked chief executives of the election committee and guarantees the candidates would be selected by Beijing. The new amendments to Basic Law legislation have led to increasingly violent street protests by activists who are understandably concerned about retaining their rights.

Research – Endeavor Silver (EXK) – Setting the Stage for Growth

Posted on August 12, 2019 by Admin

Monday, August 12, 2019

Endeavour Silver (EXK)

Overhauling the Base Business and Setting the Stage for Growth

Endeavour Silver Corp is a precious metal mining company. The company is primarily engaged in silver mining and owns three high-grade, underground, silver-gold mines in Mexico. Its other business activities include acquisition, exploration, development, extraction, processing, refining and reclamation.

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

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

Weaker than expected second quarter. Endeavour reported a second quarter loss of $10.1 million, or ($0.08) per share, compared to a loss of $5.7 million, or ($0.04) per share, during the prior year period. We had projected a loss of $4.9 million, or ($0.04) per share. The variance to our estimate is attributed to higher than expected costs of production.
Adjusting estimates. We now forecast a 2019 loss of ($0.23) per share versus our prior estimate of ($0.17). However, we have modestly increased our 2020 EPS and EBITDA estimates to…

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