DMC Global price target lowered to $59 from $64 at Stifel » 06:5207/2307/23/21
Stifel analyst Stephen…
Stifel analyst Stephen Gengaro lowered the firm's price target on DMC Global to $59 from $64 after the company's Q2 EBITDA and revenues miss his expectations. While Gengaro called near-term guidance "disappointing" and thinks the shares likely weaken on the results, he keeps a Buy rating on DMC Global shares as he believes the medium-term story is intact and that the company will capture market share and price as demand trends higher.
Fly Intel: After-Hours Movers » 18:5007/2207/22/21
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DMC Global sees Q3 revenue $70M-$73M, consensus $73.24M » 16:1907/2207/22/21
Michael Kuta, CFO, said…
Michael Kuta, CFO, said third quarter 2021 sales are expected to be in a range of $70M to $73 million versus the $65.4 million reported in the 2021 second quarter. DynaEnergetics expects demand from North America's onshore unconventional oil and gas market will continue to imprar. The growth is expected to be partially offset by lower sales in the Middle East. DynaEnergetics is expecove in the third quarter, although at a more moderate pace than in the first half of the yeted to report third quarter sales in a range of $46 million to $48 million versus the $42.3 million reported in 2021 second quarter. NobelClad's sales are expected in a range of $24 million to $25 million versus the $23.2 million reported in the 2021 second quarter. Consolidated gross margin is expected in a range of 24% to 26% versus 26% in the 2021 second quarter. The potential decline relates to the expected increase in North American sales versus higher margin international sales at DynaEnergetics, as well as inflationary pressures that will likely offset pricing increases. Gross margin at NobelClad also is expected to decline due to a less favorable project mix. Third quarter selling, general and administrative expense is expected to be in a range of $14.5 million to $15 million versus the $14.0 million reported in the 2021 second quarter. The increase reflects expected headcount additions for commercial and digital positions, higher variable compensation expense, and a pickup in travel expenses. Amortization expense is expected to be approximately $225,000, and interest expense is expected to be approximately $80,000. DMC's full year tax-rate is expected in a range of 31% to 33%. Adjusted EBITDA is expected in a range of $6.5 million to $8.5 million versus the $7.5 million in the second quarter of 2021.Third quarter capital expenditures are expected in a range of $4.0 million to $6.0 million. For modeling purposes, third quarter weighted average shares outstanding will be approximately 18.7 million. Kuta said management is not providing full-year financial guidance, however, pricing at DynaEnergetics is expected to improve during the second half of the year, which should offset the impact of inflation on materials, labor, and benefits from employee retention credits under the CARES Act that are expected to roll off in the fourth quarter of 2021.
DMC Global reports Q2 EPS 13c, consensus 13c » 16:1607/2207/22/21
Reports Q2 revenue…
Reports Q2 revenue $65.4M, consensus $69.47M. Kevin Longe, president and CEO, said, "Improving economic conditions led to increased activity in several of our end markets during the second quarter. Rising energy prices drove improved demand for DynaEnergetics' DS well perforating systems, and NobelClad secured a large international order from the chemical industry." "DynaEnergetics benefitted from a modest improvement in pricing during the quarter," Longe added. "However, despite increased well completion activity in North America, irrational pricing for products and services persists, and is delaying the margin recovery of our industry. "The leading operators and service companies in North America's unconventional oil and gas industry are transitioning to safer, more efficient and more reliable factory-assembled perforating systems built by a single source provider. However, during the recent market instability, a number of machine shops have taken advantage of extreme price sensitivity by commercializing undifferentiated, less reliable carrier assemblies. These businesses are being supported and supplied by some of our industry's large energetics manufacturers, which have not yet fully transitioned to their own integrated systems."
Craig-Hallum raises Veritone to Hold, sees PandoLogic greatly improving finances » 14:3607/2207/22/21
As previously reported,…
As previously reported, Craig-Hallum analyst Chad Bennett upgraded Veritone to Hold from Sell with a price target of $20, up from $15, after the company announced an agreement to acquire PandoLogic for $150M. Veritone is "paying a remarkably low multiple" to add a recurring software business growing at a 100% compound annual growth rate with 50% EBITDA margin, said Bennett, who said the deal looks like it is "likely the most favorable transaction we have ever seen in software." While "cautiously optimistic" about the acquisition, he will need to see it play out to get real confidence in the potential pro-forma financials, added Bennett.
Veritone upgraded to Hold from Sell at Craig-Hallum » 14:3007/2207/22/21
Craig-Hallum analyst Chad…
Craig-Hallum analyst Chad Bennett upgraded Veritone to Hold from Sell with a price target of $20, up from $15.
PandoLogic deal 'adds a lot of opportunity' for Veritone, says Roth Capital » 12:1707/2207/22/21
Roth Capital analyst…
Roth Capital analyst Darren Aftahi said Veritone's deal to buy PandoLogic brings a new line of high-margin, SaaS revenue and "adds a lot of opportunity and cash flow." The price with earnouts of $150M "seems like a great value" from Veritone's side, added Aftahi, who has a Buy rating and $50 price target on Veritone shares.
Truist 'not overly concerned' by Safehold earnings miss » 10:5607/2207/22/21
Truist analyst Ki Bin Kim…
Truist analyst Ki Bin Kim is "not overly concerned" by the earnings miss reported by Safehold, attributing it to "modeling nuances." Bin Kim says he did not model in the recent bond issuance, which makes up 2c of the miss, and he notes that revenue was lower than modeled despite Safehold executing on more deals than expected. This is likely a timing element of when the deals closed, which should resolve itself by next quarter, Bin Kim tells investors in a research note. He keeps a Hold rating on the shares with a $70 price target.
VolitionRx's Nu.Q featured in two abstracts on COVID-19 severity prediction » 08:1207/2207/22/21
VolitionRx has been…
VolitionRx has been working with researchers at two NHS Foundation Trusts on two studies in COVID-19 for which abstracts were released at the International Society on Thrombosis and Haemostasis Congress 2021. Volition previously reported preliminary results demonstrating that its Nu.Q NETs assay correlated well with COVID-19 disease severity. The company now reports early-stage data with the same assay showing that results on admission could predict future COVID-19 disease severity and that serial results correlate with disease progression. The Nu.Q NETs biomarker results taken on hospital admission in this study correlated with COVID-19 disease severity and were predictive of whether patients required care in a general ward or organ support in an intensive care ward. The study results also indicated that elevated values of Nu.Q H3.1 could predict poor outcomes in patients admitted to Intensive Care.
Veritone trading resumes 07:3507/2207/22/21