Tag: Financial Services

Release – Bitcoin Depot Bolsters Expansion Efforts with the Addition of 13 New Sales Representatives Throughout the U.S.

Posted on by aweinsoff@channelchek.com

Research News and Market Data on BTM

January 11, 2024 8:30 AM EST

Expanded Sales Team Will Prioritize Strategic Expansion as Bitcoin Depot Prepares for Continued Nationwide Growth to Increase Kiosk Installations and Strengthen Nationwide Access to Bitcoin

ATLANTA, Jan. 11, 2024 (GLOBE NEWSWIRE) — Bitcoin Depot (“Bitcoin Depot” or the “Company”) (NASDAQ: BTM), a U.S.-based Bitcoin ATM operator and leading fintech company, today announced the expansion of its workforce with the hiring of more than a dozen new sales representatives. These new team members are strategically located across the United States, including Hawaii and Puerto Rico, underscoring Bitcoin Depot’s commitment to nationwide growth and Bitcoin ATM (“BTM”) accessibility.

Bitcoin Depot expects each sales representative to play a pivotal role in the Company’s aggressive expansion strategy during 2024. Once fully engaged, the representatives are anticipated to secure roughly 100-200 new Bitcoin Depot kiosk locations on a monthly basis with the goal of expanding the number of installed BTMs by the end of 2024 to a record high for Bitcoin Depot.

“We are excited to welcome our new sales team members into the Bitcoin Depot family. Their diverse backgrounds and strategic retail relationships are integral to our mission of making Bitcoin accessible to everyone, everywhere,” said Bitcoin Depot Founder and CEO Brandon Mintz. “Integrating these new team members marks a key milestone in our journey to set a new record in Bitcoin Depot`s installed kiosks. Their dedicated efforts are essential not just for widening our geographical footprint but also for strengthening and deepening our relationships with retailers across the country.”

The new sales hires are part of Bitcoin Depot’s comprehensive growth plan, which focuses on increasing its BTM network and continuing to build a robust pipeline of major regional and national retail partners. This approach reflects the company’s ongoing efforts to make Bitcoin more accessible to the public and to solidify its position as a market leader in the Bitcoin ATM industry.

About Bitcoin Depot
Bitcoin Depot Inc. (Nasdaq: BTM), founded in 2016, is dedicated to bridging the gap between traditional finance and digital currencies. The company offers user-friendly, efficient, and intuitive ways for consumers to convert cash into Bitcoin, enabling access to the broader digital financial system. With a presence in 48 states, Bitcoin Depot operates the largest network of BTMs in North America. Through its innovative services, including thousands of kiosk locations and the BDCheckout product, Bitcoin Depot continues to be at the forefront of fintech advancements. For more information, visit www.bitcoindepot.com.

Contacts:
Investors 
Cody Slach, Alex Kovtun 
Gateway Group, Inc. 
949-574-3860 
btm@gateway-grp.com

Media 
Christina Lockwood, Brenlyn Motlagh, Ryan Deloney 
Gateway Group, Inc.
949-574-3860 
btm@gateway-grp.com

Source: Bitcoin Depot Inc.

Released January 11, 2024

Bit Digital (BTBT) – An Upsized Contract

Posted on by cpereira@noblefcm.com


Thursday, January 11, 2024

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.

Expansion. Before the initial 192 servers representing 1,536 GPUs have all come on-line, Bit Digital announced an expansion of its initial AI contract. Under the terms of the agreement, Bit Digital will supply the customer with computational power from an additional 512 GPUs for a period of three years. The total contract value with the customer for an aggregate of 2,048 GPUs is now worth more than $50 million of annualized revenue to Bit Digital.

New Order. Bit Digital placed a purchase order for 64 servers manufactured by Super Micro Computer, Inc. that are equipped with 512 Nvidia HGX H100 GPUs along with related equipment, which are expected to be delivered to the Company during January 2024.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Bit Digital (BTBT) – December BTC Production Increases 19%

Posted on by cpereira@noblefcm.com


Friday, January 05, 2024

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.

Production. During the month of December, Bit Digital produced 169.5 BTC, a 19% increase compared to the prior month. Active hash rate as of December 31st was approximately 2.52 EH/s, up from 2.25 EH/s as of November 30, 2023, and well on the way to the new goal of  doubling the operating fleet in the Bitcoin mining operations, to approximately 6.0 EH/s, during 2024.

Staking. Bit Digital had approximately 12,752 ETH actively staked in native and liquid staking protocols as of December 31, 2023, down slightly from 12,784 at the end of November. Approximately 12,352 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 3.67% on its staked ETH position for the month, down from 4.35% in November, and earned aggregate staking rewards of approximately 38.5 ETH.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Bit Digital (BTBT) – Receipt of First Tranche of AI Servers

Posted on by cpereira@noblefcm.com


Thursday, December 21, 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.

First Tranche. Yesterday, Bit Digital announced the receipt of the initial batch of servers equipped with Nvidia HGX H100 GPUs from Super Micro Computer, Inc. To date, the Company has received 89 servers which will be shipped and delivered to the datacenter in Iceland by the end of this month, enabling Bit Digital to begin performance under its first AI contract. Bit Digital expects to receive the remaining 103 servers by the first week of January 2024 and subsequently deploy them in Iceland during January 2024.

Upfront Cash. Bit Digital also disclosed that the terms of its AI agreement have been amended such that the Company has now received a three-month prepayment from its customer. With the contract expected to generate some $35 million of annual revenue, this would equate to approximately $9 million, which will help fund the cost of the servers, in our opinion.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Bit Digital (BTBT) – November Production Numbers Released

Posted on by cpereira@noblefcm.com


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.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Bit Digital (BTBT) – Finalized AI Contract

Posted on by cpereira@noblefcm.com


Tuesday, November 28, 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.

Contract. Last week, Bit Digital announced details regarding its first Bit Digital AI contract. Under the terms of the agreement, Bit Digital will supply the customer with computational power from 1,504 GPUs for a period of three years. The contract will commence January 2024 and represents more than $35 million of annualized revenue to Bit Digital.

Platform. To fulfill the contract, the Company placed a purchase order for servers manufactured by Super Micro Computer, Inc., an authorized Nvidia OEM, that are equipped with 1,504 Nvidia HGX H100 GPUs along with related equipment, which are expected to be delivered to the Company by January 2024.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Bit Digital, Inc. (BTBT) – Gearing Up for the New Year

Posted on by cpereira@noblefcm.com


Friday, November 17, 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.

Results. Bit Digital reported third quarter revenue of $11.6 million, up from $9.1 million last year and in-line with our estimate of $12 million. The Company recognized $11.3 million from bitcoin mining services and $244,780 in ETH staking services. Net loss for the quarter was $7.2 million, or a loss of $0.08 per share, versus the prior year’s net loss of $14.5 million, or $0.27. Adjusted EBITDA for the quarter was a negative $3.0 million versus a negative $4.6 million last year. 

More Agreements. The Company finalized two new agreements with Soluna Computing and Dory Creek during the quarter, bringing 4.4 and 17.5 megawatts of hosting capacity, respectively. The agreements bring two new states to Bit Digital’s geographic portfolio in Kentucky and Texas, and offers the Company an increased geographic diversification. We expect more announcements to follow, with the Company having active discussions with other potential hosts.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

QuoteMedia Inc. (QMCI) – Another Quarter of Solid Growth

Posted on by cpereira@noblefcm.com


Wednesday, November 15, 2023

QuoteMedia is a leading software developer and cloud-based syndicator of financial market information and streaming financial data solutions to media, corporations, online brokerages, and financial services companies. The Company licenses interactive stock research tools such as streaming real-time quotes, market research, news, charting, option chains, filings, corporate financials, insider reports, market indices, portfolio management systems, and data feeds. QuoteMedia provides industry leading market data solutions and financial services for companies such as the Nasdaq Stock Exchange, TMX Group (TSX Stock Exchange), Canadian Securities Exchange (CSE), London Stock Exchange Group, FIS, U.S. Bank, Broadridge Financial Systems, JPMorgan Chase, CI Financial, Canaccord Genuity Corp., Hilltop Securities, HD Vest, Stockhouse, Zacks Investment Research, General Electric, Boeing, Bombardier, Telus International, Business Wire, PR Newswire, FolioFN, Regal Securities, ChoiceTrade, Cetera Financial Group, Dynamic Trend, Inc., Qtrade Financial, CNW Group, IA Private Wealth, Ally Invest, Inc., Suncor, Virtual Brokers, Leede Jones Gable, Firstrade Securities, Charles Schwab, First Financial, Cirano, Equisolve, Stock-Trak, Mergent, Cision, Day Trade Dash and others. Quotestream®, QModTM and Quotestream ConnectTM are trademarks of QuoteMedia. For more information, please visit www.quotemedia.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.

Solid Q3 results. The company reported Q3 revenue of $4.7 million, which was in-line with our estimate of $4.8 million and adj. EBITDA of $719,547, which was modestly below our estimate of $849,000, illustrated in Figure #1 Q3 Results. The slight adj. EBITDA miss was attributed to revenue mix and slightly higher than expected operating expenses. Notably, revenue and adj. EBITDA increased by 8.5% and 7.3%, respectively, from the prior year period.

Interactive Growth. The company’s interactive business had a strong quarter as revenue increased 16% from the prior year period, and does not include deferred revenue which increased 76% over the same period. Management attributed the favorable increase in revenue to large contracts that were recently signed. The company remains focused on signing larger clients, and has increased its headcount in its sales and marketing departments to support that goal.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Bitcoin Depot (BTM) – Favorable Deployment

Posted on by cpereira@noblefcm.com


Tuesday, November 14, 2023

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.

Solid Q3 Results. The company reported Q3 revenue of $179.5 million, up 2.7% from the prior year period, and adj. EBITDA of $13.9 million, up an impressive 21.1% year-over-year. While Q3 revenue was 5.7% below our estimate of $190.3 million and Adj. EBITDA was 4.9% lower than our estimate of $14.7 million, we view the results and company outlook favorably.

2024 Outlook. The company is focused on striking additional partnerships to deploy its approximately 1000 kiosks that are currently warehoused. We anticipate the number of kiosks will gradually increase over Q4 and 2024, a development we believe will have a favorable impact on operating results.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Bit Digital, Inc. (BTBT) – Network Difficulty in October, However a Positive Environment

Posted on by cpereira@noblefcm.com


Tuesday, November 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.

Mining Slightly Down. Bit Digital produced 111.6 BTC during the month, a 14% decrease from last month due to an increase in network difficulty, a power utility mandated maintenance outage that temporarily reduced operating hash rate at one location, and the relocation of miners from one hosting location following the conclusion of that hosting agreement. The Company had an active hash rate of 2.0 EH/s compared to 1.19 EH/s last month.

Staking Side. The Company had approximately 12,752 ETH actively staked in native and liquid staking protocols as of October 31, 2023, with 12,352 ETH natively staked and 400 ETH deployed in liquid staking protocols. Bit Digital earned a blended APY of approximately 4.25% on its staked ETH position for the month compared to roughly 4.1% last month, and earned aggregate staking rewards of approximately 46.08 ETH.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Bit Digital, Inc. (BTBT) – A New AI Business

Posted on by cpereira@noblefcm.com


Tuesday, October 24, 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.

Business Diversification. Bit Digital is launching a new AI-focused business, Bit Digital AI, that will provide specialized infrastructure to support generative artificial intelligence (AI) workstreams. The new business materially diversifies Bit Digital’s revenue sources with a goal of providing a non-correlated income stream to help offset potential downturns in the core bitcoin mining and ETH staking business.

A Customer Contract. Bit Digital has entered into a binding term sheet with a customer to support their GPU-accelerated workloads. Bit Digital will provide the customer with rental services for a minimum of 1,024 GPUs and a maximum of 4,096 GPUs. The total number of GPUs, contract length, and corresponding unit pricing will be determined upon signing of the master service agreement.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Release – QuoteMedia Powers Stirlingshire Investments Trading Platform

Posted on by aweinsoff@channelchek.com

Research News and Market Data on QMCI

PHOENIX, Oct. 16, 2023 (GLOBE NEWSWIRE) — QuoteMedia, Inc. (OTCQB: QMCI), a leading provider of market data and financial applications, announced an agreement with Stirlingshire Investments.

Stirlingshire is an exciting market disruptor with a groundbreaking Hybrid Broker-Dealer framework that brings together the most advantageous aspects of the Full-Service Broker-Dealer and Discount Broker-Dealer models, while removing their limitations. By utilizing technology, Stirlingshire is able to dramatically reduce overhead and liability, while tying compensation much closer to performance. The result? A revolutionized industry that is Better for Clients, Better for Advisors.

Pursuant to the agreement QuoteMedia will be incorporating Quotestream® Trader, QuoteMedia’s streaming data application complete with trade integration, into Stirlingshire’s innovative trading platform. This allows Stirlingshire’s network of broker representatives and their retail clients to access real time market data, as well as comprehensive news, research, charting and analysis as part of their trading experience.

“Stirlingshire is dedicated to innovation, and QuoteMedia’s leading edge offerings are a perfect fit with our goals,” said Steven Woods, Stirlingshire’s Founder & CEO. “Our clientele quite justifiably expects best-in-class products and services from us, and the platform is receiving rave reviews. QuoteMedia’s applications and delivery technologies provide up-to-the-second market data and research information, and ensure our correspondent brokers and their customers are able to identify and capitalize on great investment opportunities.”

The partnership is a significant opportunity for QuoteMedia as well, according to QuoteMedia, Ltd. CEO Dave Shworan.

“Stirlingshire’s approach is truly innovative, and they are enjoying tremendous early success and growth,” said Shworan. “We are thrilled that they have chosen to incorporate our data and technology solutions, and that we can join them as they revolutionize the brokerage and investment industry. We look forward to a long and exciting partnership.”

About QuoteMedia

QuoteMedia is a leading software developer and cloud-based syndicator of financial market information and streaming financial data solutions to media, corporations, online brokerages, and financial services companies. The Company licenses interactive stock research tools such as streaming real-time quotes, market research, news, charting, option chains, filings, corporate financials, insider reports, market indices, portfolio management systems, and data feeds. QuoteMedia provides industry leading market data solutions and financial services for companies such as the Nasdaq Stock Exchange, TMX Group (TSX Stock Exchange), Canadian Securities Exchange (CSE), London Stock Exchange Group, FIS, U.S. Bank, Bank of Montreal (BMO), Broadridge Financial Systems, JPMorgan Chase, Scotiabank, CI Financial, Canaccord Genuity Corp., Hilltop Securities, Avantax, Stockhouse, Zacks Investment Research, General Electric, Boeing, Bombardier, Telus International, Business Wire, PR Newswire, The Goldman Sachs Group, Regal Securities, ChoiceTrade, Cetera Financial Group, Dynamic Trend, Inc., Credential Qtrade Securities, CNW Group, iA Private Wealth, Ally Invest, Inc., Suncor, Leede Jones Gable, Firstrade Securities, Charles Schwab, First Financial, Equisolve, Stock-Trak, Mergent, Cision and others. Quotestream®, QMod™ and Quotestream Connect™ are trademarks of QuoteMedia. For more information, please visit www.quotemedia.com .

QuoteMedia Investor Relations

Brendan Hopkins
Email: investors@quotemedia.com
Call: (407) 645-5295

Stirlingshire Media Relations

Nicole Cox
Email: Nicole@stirlingshire.com
Call: 647-500-2763

News Provided by GlobeNewswire via QuoteMedia

Bit Digital, Inc. (BTBT) – September Slightly Down

Posted on by cpereira@noblefcm.com


Friday, October 06, 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.

Mining. Bit Digital had a decrease in BTC production in September, producing 130.2 BTC, a 7% decrease compared to the prior month of 133.0. The decrease was primarily driven by an increase in network difficulty and a reduction in active hash rate that occurred towards the end of the month. The active hash rate was approximately 1.19 EH/s as of September 30, 2023, as roughly 600 PH/s of miners went offline due to a power utility mandated maintenance outage from September 26, 2023, to October 6, 2023 with an additional 250 PH/s of miners going offline towards the end of the month following the conclusion of a hosting contract at one facility. The Company is in the process of relocating those miners to alternative hosting sites.

Staking. The Company had approximately 13,594 ETH (13,188 last month) actively staked in native and liquid staking protocols as of September 30, 2023, with 11,200 natively staked and 2,394 ETH deployed in liquid staking protocols. The Company has 512 ETH (16 Nodes) deposited but in queue to be activated on the Ethereum staking network, which are estimated to come online by the end of October 2023. The blended APY for the month was roughly 4.1%.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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.