China Ceramics Co Ltd (NASDAQ:CCCL)

China Ceramics Co Ltd (NASDAQ:CCCL) Racing Higher!

China Ceramics Co Ltd (NASDAQ:CCCL)

China Ceramics Co Ltd (NASDAQ:CCCL) stock is up over 50% on a volume figure that is almost 600 times the published daily average volume. China Ceramics Co Ltd (NASDAQ:CCCL) has a market capitalization of less than $10 million and 49% of their shares are held by insiders. Last year they recorded $119 million in sales.

China Ceramics Co Ltd (NASDAQ:CCCL)

China Ceramics Co Ltd (NASDAQ:CCCL) is based in Jinjiang, China. Through its subsidiaries, the company manufactures and sells ceramic tiles for exterior siding and interior flooring, and design in residential and commercial buildings. Its products are sold in the People’s Republic of China. The company sells its products under the Hengda, Hengdeli, Pottery Capital of Tang Dynasty, TOERTO, and WULIQIAO brands through a network of distributors, as well as directly to property developers.

Review of China Ceramics Business and Stock

Due to the small capitalization of China Ceramics Co Ltd (NASDAQ:CCCL), analysts are not covering CCCL shares and therefore there is a lack of earnings predictions. However, published accounts quote the company’s “book value per share” at $41.41. But what may be more noteworthy is that the same publications quote China Ceramics’ “cash per share” value at $0.00.

In 2012, China Ceramics Co Ltd (NASDAQ:CCCL) report an EPS of $14.38. However, the next four years resulted in annual per share losses of (-$0.12), (-$1.79), (-$21.38), and, in 2016 (-$17.55). Sales have, in general, trended downwards. In 2012, sales were reported at $217.7 million. However, by 2016 that sales figure was $119.6 million.

Today’s price action has sent the shares to a new 52-week high. CCCL stock opened today at $1.64 which was below yesterday’s close of $1.76. The shares rocketed up to reach a high of $$3.60 before sellers stepped in and sent the shares back down to current trading levels hovering around $2.65 at 11:11AM EST.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $CCCL and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Cartesian Inc. (NASDAQ:CRTN)

Cartesian Inc. (NASDAQ:CRTN) Delisting Woes Compounded By Q3 Earnings

Cartesian Inc. (NASDAQ:CRTN)

Cartesian Inc. (NASDAQ:CRTN) felt the wrath of Wall Street after reporting disappointing third quarter financial results. Shares of the company fell 21.55% after the Professional services and technical solutions provider reported a wider than expected net loss as revenues dropped 26%.

The stock is at risk of dropping to this year’s lows as short sellers continue to apply pressure. Investor sentiments on Cartesian Inc. (NASDAQ:CRTN) appear to have suffered greatly. For the full year, the stock is down by more than 50% as it continues to trade in a strong downtrend.

Cartesian Inc. (NASDAQ:CRTN) prospects in the market could turn from bad to worse as investors analyze the third quarter earnings report in a bid to ascertain its long-term growth prospects. Lower volumes of projects in North America and Europe resulted in revenues of $12.8 million representing a 26% decrease compared to the prior-year’s quarter.

Gross margin dropped to 32% compared to 35% in Q3 of 2016. Gross profit tumbled 33% to $4.1 million, compared to $6.1 million reported last year. General and Administrative expenses decreased 10% to $5.4 million primarily due to decreases in technology related expenses and foreign currency exchange.

GAPP loss from operations came in at (-$1.3) million compared to a GAAP income of $80,000 reported in the third quarter of 2016. The non-GAAP net loss totaled (-$1) million or (-$0.11) per share compared to a net income of $0.7 million or $0.08 a share reported last year, Cartesian Inc. (NASDAQ:CRTN) exited the third quarter with cash and cash equivalent of $2.5 million compared to 43 million at the end of the second quarter.

NASDAQ Delisting CRTN

Separately, Cartesian Inc. (NASDAQ:CRTN) is to cease trading in the Nasdaq Stock Market on November 13, 2017. The company’s board of directors has approved a voluntary withdrawal paving way for the company to list in the OTCQB Market.

Cartesian Inc. (NASDAQ:CRTN)’s exit from the Nasdaq Capital market does not come as a surprise. In May, the company was the subject of a non-compliance notice by the NASDAQ, on failing to maintain the minimum closing bid of $1 a share, over preceding 30 days. The company common stock will begin trading on the OTCQB starting November 14, 2017.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $CRTN and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Nova Lifestyle Inc. (NASDAQ:NVFY)

Nova Lifestyle Inc. (NASDAQ:NVFY) 900% Net Income Increase

Nova Lifestyle Inc. (NASDAQ:NVFY)

Nova Lifestyle Inc. (NASDAQ:NVFY) shares gained 21.5% after the innovative designer and distributor of modern lifestyle consumer products reported record Q3 2017 financial results. According to the Chief Executive Officer, Tawny Lam, the stellar financial results reflect the successful transformation of the company.

Nova Lifestyle Inc. (NASDAQ:NVFY)

Returning Shareholder Value

Investors pushed the stock higher after the Chief Executive Officer reiterated they expect growth to continue into the fourth quarter. In addition, the executive says they plan to initiate stock buy-backs or start paying cash dividends to reward long-term shareholders.

The stellar financial results helped strengthen investors’ confidence in Nova Lifestyle Inc. (NASDAQ:NVFY)’s long-term prospects. The stock is currently trading in an uptrend after erasing all the losses accrued since the start of the year. The stock faces immediate resistance at $2.40, above which it could make a push for a 52-week high of $3.10 a share.

Q3 Financial Results

Renewed investor interest in Nova Lifestyle Inc. (NASDAQ:NVFY) follows the announcement of a 900% increase in net income that came in at $2.96 million or $0.11 a share. Net sales for the three months ended September 30, 2017, increased 8.8% to $33.2 million, compared to $30.5 million reported for the corresponding period last year.

Gross profit margin in the company improved to 18% on average, representing an increase of about 3%. Nova Lifestyle Inc. (NASDAQ:NVFY) attributes the stellar performance to a 200% increase in new product offerings combined with innovative product designs.

“Nova Lifestyle’s third quarter financial performance reflects the results of our successful transformation from an ‘asset heavy’ furniture-manufacturing business to a ‘light asset,’ high margin, consumer Product Company focused on innovative product designs and customer-centric marketing,” said Mr. Lam.

Nova Lifestyle’s Robust Growth

Strong customer demand across all product lines also continues to support Nova Lifestyle Inc. (NASDAQ:NVFY) growth prospects in the business. The company is projecting significant growth in the years to come, thanks to a record number of new product SKUs. This year, the company has increased its selection of bedroom offerings by 50%.

Rapid expansion is also expected to result in a diversified global customer base which should lead to more sales in the years to come.

“We see tremendous growth opportunities to further cement Diamond Sofa’s position as a leading product destination for retailers, home stagers, and designers,” said Mr., Lam.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $NVFY and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

TheStreet, Inc. (NASDAQ:TST)

Cramer Signs Again with TheStreet, Inc. (NASDAQ:TST)

TheStreet, Inc. (NASDAQ:TST)

Shares of TheStreet, Inc. (NASDAQ:TST) gained over 33% after it announced that it has entered into a new four-year agreement with Jim Cramer, the company’s founder, financial markets commentator on CNBC. He will also continue to host events, author articles, and provide video content for the company’s subscription products and distribution channels.

TheStreet, Inc. (NASDAQ:TST)

 

Other news released today included a Q3 2017 earnings release that saw net income at $0.2 million, or $0.01 per share. Last year for the same period the company reported a net loss of (-$1.2) million, or (-$0.03) per share. Earnings met analyst expectations.

 

TheStreet, Inc. (NASDAQ:TST) is a global financial news and information provider to investors and institutions. The company’s flagship brand, TheStreet (www.thestreet.com), is in its third decade of producing business news and market analysis for individual investors. The Street’s portfolio of institutional brands includes The Deal (www.thedeal.com), which provides actionable, intraday coverage of mergers, acquisitions and all other changes in corporate control; BoardEx (www.boardex.com), a relationship mapping service of corporate directors and officers; and RateWatch (www.rate-watch.com), which supplies rate and fee data from banks and credit unions across the U.S.

TheStreet Q3 Earnings

 

For the third quarter of 2017, the Company reported revenue of $15.3 million, and an Adjusted EBITDA(1) of $2.1 million. Q3 2017 net income reflects declines in cost of services, sales, and marketing and general and administrative expenses, partially offset by higher depreciation and amortization expense from infrastructure buildout during 2016 and year to date 2017.

 

David Callaway, President and CEO of TheStreet, Inc. (NASDAQ:TST) stated in the press release “This is the second consecutive quarter that we have had net income,”. “Our turnaround plan has taken hold. With the confidence of our newest investor, 180 Capital, and finalized contract negotiations with Jim Cramer, we are set for continued growth on the top and bottom line of the business.”

 

TheStreet, Inc. (NASDAQ:TST) stock has lagged behind the market for the year – returning only 2.5%. The large bunce in share price was due to, observers feel, the signing of Jim Cramer who has become a recognizable personality with broad reach among retail investors and market observers.

 

The lone analyst that covers TheStreet, Inc. (NASDAQ:TST) rates TST shares as a “Strong Buy” with a one-year target price of $2.05.

 

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

 

Don’t miss out! Stay informed on $TST and receive breaking news on other hot stocks by signing up for our free newsletter!

 

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

 

Real Industry Inc (NASDAQ:RELY)

Real Industry Inc (NASDAQ:RELY) Shares Take Dive

Real Industry Inc (NASDAQ:RELY)

Real Industry Inc (NASDAQ:RELY) stock cratered on Friday, losing over 65% on a volume figure that was almost 90 times the listed daily average. RELY shares gapped down to open at $1 from their Thursday close of $1.70, then went on to make a new 52-week low of $0.25 before closing at $0.65.

Sherman Oaks, CA-based Real Industry Inc (NASDAQ:RELY) is a holding company that seeks to create a sustainably profitable business acquiring companies that meet strict metrics with regards to value and structure. Our business strategy also seeks to take advantage of Real Industry’s U.S. federal net operating loss tax carryforwards of $916 million.

The company, through its subsidiaries, is involved in aluminum melting, processing, recycling, and alloying activities in the United States and internationally. The company operates in two segments, Real Alloy North America and Real Alloy Europe. It processes scrap aluminum and by-products. It manufactures wrought, cast, and specification or foundry alloys. The company serves the automotive, consumer packaging, aerospace, building and construction, steel, and durable goods industries, as well as wrought alloy producers, foundries, and casters.

Real Industry Business

Real Industry Inc (NASDAQ:RELY) reported sales of $1.25 Billion for 2016. However, the company has a market capitalization of less than $20 million. Earnings have been negative since 2012 when the company posted a per share loss of (-$0.34). By 2016, that loss had grown to (-$3.71).

Unfortunately, the earnings losses were not the only headwind experienced by shareholders. In 2014 the company had 13.4 million shares outstanding. In the next two years the company issued more shares, thereby diluting shareholder equity, and by the end of 2016 the number of outstanding shares was listed at 28.72 million.

RELY Stock Performance

In mid-2016, RELY shares were hitting resistance at $9. A steady slide in the share price ensued and by August shares were meeting support around $1.75. Then, On Friday, RELY shares plummeted below the $10 handle. That level is not just important psychologically, the NASDAQ Market has rules that mandate a share’s bid price remain over $12 for a specified amount of time or else the stock could be de-listed.

Year-to-date, RELY stock has lost over 90% of its value. In the past week it has lost 64% of its value. However, the two firms that follow Real Industry Inc (NASDAQ:RELY) rate RELY shares as a “Strong Buy” with a consensus, one-year price target of $5.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $RELY and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Cartesian Inc (NASDAQ:CRTN)

Delisting Cartesian Inc (NASDAQ:CRTN) Stock Booms!

Cartesian Inc (NASDAQ:CRTN)

Cartesian Inc (NASDAQ:CRTN) stock nearly doubled on Friday even though there was no news released by the company or reported by any of the major news services. CRTN shares closed at $0.26 on Thursday then gapped up to open on Friday at $0.29, hit an inter-day high about one hour into trading at $1.00, and closed the session at $0.51.

The company will be announcing their Q3 2017 financial results after the market closes on Monday, November 13, 2017. A conference call to explain the results will follow.

Cartesian Inc (NASDAQ:CRTN) provides global consulting services, and managed solutions, to companies in global communications, technology and digital media. Cartesian services include strategic advice, management consulting, and managed solutions. The company has offices in Boston, Kansas City, London, New York, and Philadelphia.

CRTN Delists

On November 2, 2017, Cartesian Inc (NASDAQ:CRTN) notified the Nasdaq Stock Market that it would voluntarily delist its common stock at the close of business on November 13, 2017. Cartesian is currently taking the steps necessary to have its common stock begin trading in the OTCQB Market, operated by OTC Markets Group.

Cartesian’s Board of Directors approved the voluntary withdrawal of the Company’s common stock from listing on the NCM as a result of numerous factors, including its assessment of the probability of the Company’s regaining compliance with the Rule and complying with certain other Nasdaq quantitative requirement.

 

CRTN Stock Performance

Q2 2017 revenues decreased by 31% to $13.0 million from $18.9 million for the same period in 2016. Q2 2017 net loss was (-$1.4) million, or (-$0.16) per diluted share, compared to a net loss of (-$12.9) million, or (-$1.49) per diluted share in Q2 2016.

Follow the company’s Q2 earnings release, CRTN stock traded, mostly in a range between $0.50 and $0.70 through the end of October. Then at the beginning of November, CRTN shares dived below $0.30 until the massive upward move last Friday. Year-to-date, CRTN stock is down 44%.

Sales increased from 2012 when the company reported sales of $53 million, until 215 when the company posted sales of $78.3 million. Then, in 2016, sales decreased to a figure of $71.7 million.

Earnings have been worse. They have not produced positive earnings in the past five years. The per share loss expanded from 2014 (-$0.18) to a figure of (-$1.81) in 2016.

No investment analysts follow the firm – likely due to the fact that its market capitalization is below $5 million.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $CRTN and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Nova Lifestyle Inc (NASDAQ:NVFY)

Nova Lifestyle Inc (NASDAQ:NVFY) Stock Meeting Sellers at $1.80 – Again

Nova Lifestyle Inc (NASDAQ:NVFY)

Shares of Nova Lifestyle Inc (NASDAQ:NVFY) have, in the last 60 days, tried twice to close over the $1.80 mark and twice sellers have stepped in to push the stock back down. Today volume is heavy for the furniture manufacturer – almost nine times the listed daily average. The company has announced it will be releasing its Q3 2017 earnings report before the market opens on Monday, October 13, 2017.

Nova Lifestyle Inc (NASDAQ:NVFY)

Nova Lifestyle Inc (NASDAQ:NVFY) is headquartered in Commerce, California. The company designs, manufactures, and distributes modern LifeStyle furniture – primarily sofas, dining rooms, cabinets, office furniture and related components, bedrooms, and various accessories in matching collections. Nova’s products are made and marketed in the US, Europe, and Asia and include LifeStyle brands such as Diamond Sofa, Nova QwiK, and Bright Swallow International.

NVFY Stock

Nova Lifestyle Inc (NASDAQ:NVFY) has a surprisingly low cash per share figure of just $0.01. However, traders have been pushing the stock up since early September when the stock was trading around the $1.10 handle. In the past quarter, NVFY stock has gained over 30%. For the year, shares are down over 45%.

Sales revenue has been flat since 2014 when the company reported a figure of $98.7 million – its best showing to date. After that, the company posted sales in 2015 at $89.9 million, and, for 2016, $92.6 million. During that time the number of outstanding shares has increased – diluting shareholder equity. In 2014 there were a reported 20.38 million shares outstanding. That number increased to 25.43 million by the end of 2016.

2016 represents the first year of negative earnings for the company since 2012 when it had a per share profit of $0.29. Last year the company posted a per share loss of (-$0.01).

According to available resources, no investment firms follow Nova Lifestyle Inc (NASDAQ:NVFY).

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $NVFY and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Kona Grill Inc (NASDAQ:KONA) Tanks After Hours on Earnings Announcement

Kona Grill Inc (NASDAQ:KONA)

Shares of Kona Grill Inc (NASDAQ:KONA) dropped 24%, or (-$0.65), in the after-market following the company’s Q32017 earnings release. The company reported a sales increase of 2.4% to $44.4 million. However, same-store sales decreased 7.2% – including an estimated 1.1% impact from closures due to Hurricanes Harvey, Irma, and Maria. Those weather-related events impacted 30% of the company’s restaurant base. Net loss of (-$3.3 million), or ($0.33) per share, which included an estimated ($0.02) per share impact from the hurricanes, compared to net loss of $2.6 million, or ($0.24) per share for the same period in 2016.

Kona Grill Inc (NASDAQ:KONA)

Berke Bakay, President and CEO of Kona Grill Inc (NASDAQ:KONA) stated “We remain resilient in spite of the challenges that we encountered during this quarter, including one-third of our restaurants being impacted by closures from the three major hurricanes that hit during August and September which we estimate resulted in approximately $500,000 of lost sales. Our restaurant in San Juan recently reopened with scaled back hours and a limited menu after the devastation caused by Hurricane Maria. We are fortunate that minimal physical damage was sustained at our restaurants.”

Also included in the earnings release was a note that the company’s Mexican franchise partner opened the first franchised Kona Grill restaurant in Monterrey, Mexico in August. The company’s franchise partner in the United Arab Emirates is scheduled to open in Dubai later this month while the first Kona Grill in Toronto, Canada is scheduled to be opened in December 2017. The Company continues to engage in discussions with additional franchise partners.

KONA Stock Performance

Kona Grill Inc (NASDAQ:KONA) sales have increased annually. In 2012, the company posted revenues of ($96 million. By 2016 Kona sales were $169.5 million. Unfortunately, the sales increase has not been translated to the company’s earnings. In 2012 the EPS was $0.60, and four years later, in 2016, the figure was a loss of (-$2.00).

That has led investors to abandon KONA shares. Year-to-date, the stock is down 80%. For the month, shares are down 30%. While the consensus, one-year price target is $4.50, shares are just $0.55 away from their 52-week low of $1.50 and $12 away from their 52-week high of $13.50.

Seven firms follow Kona Grill Inc (NASDAQ:KONA). Five rate KONA stock as a “Strong Buy”, one rates the shares as a “Buy” and one rates them as a “Hold”.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $CREG and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Cumulus Media Inc (NASDAQ:CMLS) Beats Analyst Expectations

Cumulus Media Inc (NASDAQ:CMLS)

Cumulus Media Inc (NASDAQ:CMLS) reported q3 2017 net income of $1.3 million, or $0.04 per share. Earnings, adjusted for debt, came in at $0.06 on revenues of $287.2 million. Those numbers beat Wall St. forecasts that expected the company to post an EPS loss of (-$0.27). Accordingly, CMLS stock gained 12% in today’s session on a volume of 5.6 million – eight times the posted daily average.

Cumulus Media Inc (NASDAQ:CMLS)

Mary Berner, President and Chief Executive Officer of Cumulus Media Inc (NASDAQ:CMLS) said, “As we noted when we announced our preliminary results in October, our strong third quarter performance plainly demonstrates that our operational turnaround plan is working. The entire Cumulus team has shown great commitment to maintaining our momentum. By executing our foundational operating initiatives and continuing to develop growth opportunities, we are confident that we can build on our success despite the challenging industry environment.”

Cumulus Operations

Cumulus Media Inc (NASDAQ:CMLS), headquartered in Atlanta, GA, owns and operates radio stations in the United States. The company operates under two brands, Radio Station Group and Westwood One. Revenues are generated through the sale of commercial advertising time to local, regional, and national advertisers as well as network advertising. Cumulus creates and broadcasts content through approximately 445 owned-and-operated stations in 90 United States media market. The company also has approximately 8,200 broadcast radio affiliates and various digital channels.

The Company operates in two reportable segments, the Radio Station Group and Westwood One. The Radio Station Group revenue is derived primarily from the sale of broadcasting time to local, regional and national advertisers. Westwood One  revenue is generated primarily through network advertising.

CMLS Stock

Cumulus Media Inc (NASDAQ:CMLS) shares have been under pressure this year having lost over 68% of their value. In 2014 the company posted sales of $1.26 Billion, followed by $1.17 Billion for 2015, and in 2016 the company posted $1.14 Billion in sales.

Shareholder losses have been substantial as well. In 2015 the per share loss was (-$18.37). That loss marginally improved in 2016 when the company lost (-$17.45) per share. The lone firm that covers CMLS shares rates them as a “Hold”.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $CMLS and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

SenesTech Inc. (NASDAQ:SNES)

SenesTech Inc. (NASDAQ:SNES) Signs Contrapest Distributions Agreements

SenesTech Inc. (NASDAQ:SNES)

Shares of SenesTech Inc. (NASDAQ:SNES) gained 12.1% after the developer of proprietary technologies for managing rodent populations, announced a distribution agreement with Univar, for ContraPest. In addition to the national distribution agreement, Univar has agreed to sell the product in its network.

SenesTech Inc. (NASDAQ:SNES)

ContraPest Distribution Agreements

Univar is an excellent distribution partner for SenesTech given that it’s extensive breadth and depth coverage in the retail market. The company boasts of direct connection with pest control operators across the U.S., perfect for nationwide coverage.

In addition, SenesTech Inc. (NASDAQ:SNES) has signed a similar distribution agreement with Target Specialty Products for ContraPest. The distributor will also market the patent-protected technology throughout its network.

“Target Specialty Products is an excellent sales and distribution partner for SenesTech, with their direct connection with the pest control operators, with their extensive breadth and depth of coverage throughout the U.S. They will provide us with a more extensive nationwide sales coverage in the pest management sector,” said Dr. Loretta P. Mayer, Chair, and CEO.

SNES Stock Rating

The two distribution agreements appear to have strengthened investors’ confidence in the stock. However, the stock continues to trade in a downtrend after losing more than two-thirds of its market value since the start of the year.

Despite the underperformance, Roth Capital analyst Gerry Sweeney remains optimistic about the company’s long-term prospects. The analyst has initiated coverage of the stock with a ‘Buy’ rating. The analyst also has a price target of $14 a share which implies an upside potential of 413%.

Separately, SenesTech Inc. (NASDAQ:SNES) has announced plans to offer common stock and warrants for the purchase of common stock in a registered public offering. The company intends to use net proceeds from the offering for working capital and general corporate purposes. Part of the funds is to be used for the commercialization of ContraPest.

Q3 Financial results

SenesTech Inc. (NASDAQ:SNES) generated revenue of $17,000 in the third quarter. The company has also signed long-term sales commitments that have the potential to generate over $200,000 with an additional $250,000 of proposals. SenesTech also has pilot programs with total annual sales opportunities of approximately $2.4 million.

Net loss in the third quarter totaled (-$2.9) million or (-$0.28) a share, compared to a net loss of (-$2.7) million or (-$0.37) a share reported last year. SenesTech Inc. (NASDAQ:SNES) exited the quarter with $3.6 million in cash and cash equivalent.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $SNES and receive breaking news on other hot stocks by signing up for our free newsletter!