Eltek Ltd. (NASDAQ:ELTK) Stock Soars 550% In 2 Days, What’s The Buzz?
Shares of Eltek Ltd. (NASDAQ:ELTK) are gaining a lot of attention this week as the stock has skyrocketed all the way from $1.64 to $11 – Jump of 550% – in just a matter of days.
So why the ELTK stock is up so much? Looks like investors are reacting positively after the company has announced its financial and operational results for the first quarter of 2019 that ended March 31, 2019.
Q1 2019 financial results
The company generated $8.7 million in revenues in Q1 2019 compared to $8.9 million that was reported a year ago. There was a 5% increase in gross profits from Q1 2018 to around 1.5 million in Q1 2019. The company registered a net profit of $242,000 translating to $0.12 earnings per diluted share in Q1 2019 compared to Q1 2018 when it reported a net loss of $670,000 or $0.13 loss per share.
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The first quarter of 2019 has been a promising one and the company posted a positive EBITDA of around $811,000 relative to a year ago when there was a negative EBITDA of $185,000. There was a positive operating cash flow of around 1.6 million in the quarter ended relative to $776,000 that was used in Q1 2018.
Results reflect Eltek’s turnaround strategy
Commenting on the results Chief Executive Officer Eli Yaffe said that the company was delighted that the results are a reflection of the first stage of the implementation of its turnaround plan that commenced in Q4 2018. He added that the company continues with its effort of enhancing operating efficiencies, improving customer experience, formulating effective sales strategies as well as its continued implementation of the plan to achieve sustained profitability.
Eltek is an Israeli industry leader in the manufacture and supply of technologically advanced solution in the segment of printed circuit boards which are the main circuitry employed in electronic devices. The company is a specialist in production and distribution of high quality and complex printed circuit boards, multi-layered and flex-rigid boards and HDI boards. The Israeli based technology company is ITAR compliant and it has NADCAP and AS-9100 Electronic certification.
The company supplies leading companies in aerospace, defence, and medical sectors. It operates through its European and North America subsidiaries and via distributors and agents.
ELTK stock was up 326% in Wednesday’s session and closed at $7. Moreover, the stock continues to move higher in today’s session and up another 50% at $10.75.
Origin House (CNSX:OH) Stock Is Up 108% Since Its Listing on CSE
Origin House (CNSX:OH)‘s stock is up over 108% from its listing price of $5.40 on May 18, 2018. The stock closed at $11.27 CAD on May 17, 2019. Since its listing, OH’s stock has been moving within in a range of $3.18-11.40.
Origin House’s (recently renamed from CannaRoyalty Corporation) investors have had to with longer since its last quarterly report in November to know how the company performed in Q4 2018. Earlier this mornith, Origin House (OTCMKTS: ORHOF) announced its Q4 2018 financial results which shows the company has had tremendous revenue growth.
Q4 2018 results and milestones
The company began by offering cannabis operators with funding through royalty streaming deals. However the company has diversified and they now focus on the California cannabis brands as well as distribution operations although they still make considerable revenue from the royalty streaming business. Although the company didn’t give a breakdown of the Q4 revenue according to segments close to 92% of the revenue coming from cannabis operations in California. The rest of the revenue resulted from interests, royalties and services.
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Origin House’s Q4 2018 revenue grew 19% sequentially from Q3’s total revenue of $4.93 million. The growth in revenue was a result of Origin House’s California cannabis distribution business as well as the addition of new product line of cannabis brands.
Origin House agreements and deals
In Q4 2018 the company completed acquisition of 180 Smoke a Canadian based vape retailer. Similarly there are other notable developments that the company achieved in the quarter such as deals with Viola Brans, Henry’s Original and Kurvana. The company also entered strategic financing agreements with Utopia cannabis and Humboldt’s Finest Farms.
Perhaps the biggest development was plans by Cresco Labs (OTCMKTS: CRLBF) to acquire Origin House in one of the largest cannabis company all-stock transaction.
In a statement, Origin House president Afzal Hassan indicated that they were delighted about how the company performed last year. Most of the year was spent in developing and creating premium brands and a distribution platform in California.
Origin House CEO, Marc Lustig said that the Cresco labs acquisition was a result of the company’s aggressive creation of premium brands and a distribution platform in California. The combined entity will dominate the US with over 50 brands and 725 dispensaries.
Martello Technologies (CVE-MTLO) Stock Falls 39% Since RTO
Martello Technologies Group, Inc. (CVE:MTLO) stock has tumbled over 39% on the CSE since its reverse takeover transaction (RTO) on September 12, 2018. The stock fallen from $0.44 to $0.27.
Martello Technologies Group Inc. delivered impressive financial results for Q3 FY2019 helped by customer growth across all business lines. Expansion into high growth markets as well as the successful integration of acquisitions helped the company post a 44% increase in sales.
Q3 Financial Results
Revenue in the quarter totaled $3.1 million, representing a 136% year over year increase and 57% improvement from second quarter levels. Revenue for the first nine months of FY2019 totaled $7 million, representing a 105% increase.
Gross margin for the first nine months of the year totaled 93.7%, a 1% drop from 94.7% for the corresponding period last year. Amidst the robust revenue growth and solid gross margin, Martello plunged into a net operating loss of -$1.3 million compared to a net loss of -$18,961 as of the third quarter last year.
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Chief Executive Officer, John Proctor, has quashed concerns about the wider than expected net loss reiterating that investments made throughout the year have positioned the company for robust growth going forward.
Martello Outlook
During the year, the company achieved significant milestones expected to expand the addressable market, ideal for supporting revenue growth going forward. For instance, the company inked a strategic partnership with Paessler expected to make the company’s products available in the German market. Close ties with Mitel also continues to blossom depicted by the launch of Mitel Performance Analytics developed by Martello
An aggressive expansion drive has resulted in the deployment of Martello’s IT solutions in over 150 countries, creating a reliable stream of revenues. In addition, the company has diversified its revenue base on accruing a customer base made up of more than 5,000 customers.
The Company’s IT solutions and infrastructure continues to elicit strong demand from national as well as central bank institutions and hotels. Martello also continues to see an uptick in orders from large organizations such as the United Nations, KPMG, and United Postal Office.
Martello is also increasingly developing products to cater to the ongoing migration into the Cloud. The Company’s long-term vision is to become a leading provider of solutions for managing the performance of services in public, private, and hybrid cloud environments.
MediPharm Labs Corp. (OTCMKTS – MEDIF) Announces Solid Results, Stock Doubles in Six Weeks
MediPharm Labs Corp. (OTCMKTS:MEDIF) stock has been on fire over the past six weeks amid several headlines by the company. MEDIF stock has jumped over 100% since March 2019. MediPharm’s stock is up another 5% in early trading session after hitting a new 52-week high of $4.99..
This morning, MediPharm reported solid revenue growth in its fiscal first quarter. The company’s revenue soared 115% year over year to $22 million. Moreover, gross margin was stood at 31%.
Adjusted EBITDA increased by 102% to $4.3 million, over Q4 2018, Adjusted EBITDA. Acquired more than 5,000 kg of dried cannabis in the last two weeks of Q1 from multiple Licensed Producers to fulfill robust demand for private label offerings.
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Last week, MediPharm Labs begun trading under the symbol MEDIF after upgrading from OTCQB Venture Market to OTCQX Best Market. Additionally, The company also announced that it has received Depository Trust company eligibility for its common stock in the US.
DTC Eligibility
DTC eligibility simplifies the trading and transferring of common stock between brokerages in the United States. Patrick McCutcheon the CEO of MediPharm Labs stated that the company was delighted to receive DTC eligibility which will facilitate the trading of the company’s common stock in the markets. He added that they are also pursuing other opportunities to strengthen and enhance the company’s liquidity and value for stockholders while increasing accessibility for investors and institution in the US.
MediPharm Labs common stock will be settled and distributed through the automated DTC processes which give greater efficiency at reduced costs because of the use of electronic clearing and accelerated settlement of securities.
Change Of Ticker Symbol
The company indicated t5hat FINRA had approved the change of their stock trading symbol from “MLCPF” to “MEDIF” on OTCQB Markets. McCutcheon stated that as a fully licensed producer, MediPharm has scaled its operations to become a dominant market Leader in the processing of cannabis and manufacture of high-quality cannabis pharmaceutical products. he added that the company has embarked on an ambitious plan to boost its international and local growth as they strive to become a market leader.
The upgrading from the OTCQB Market to the OTCQX Market is one of the steps the company is taking to attain accelerated growth and it also shows the commitment of the company to transparency and improving liquidity. It is also a way of enhancing MediPharm’s exposure and access to investors to be part of the success of the company.
Jason Paltrowitz the OTC Markets Group Executive Vice President of Corporate Services indicated that MediPharm Labs was among a number of leading companies and innovators in their industry that have joined OTCQX Best Market. He added that OTCQX enables companies to provide investors with a transparent public market to research and trade their shares.
Considering the recent rally in the stock, it would be interesting to see where the stock will go from here on.
Predictive Technology Group Inc. (OTCMKTS – PRED) Jumps 50% This Week, Are You Watching?
Shares of Predictive Technology Group Inc. (OTCMKTS:PRED) are among the top penny stock gainers over the past month. The PRED stock has almost doubled on increase volume since April 16th. In fact the stock has jumped 52% this week alone amid multiple press releases. The biggest news was the company’s submission of its application to list its common stock on NASDAQ.
On May 07, Predictive Technology Group Inc. (OTCMKTS: PRED) has announced that its 100% owned subsidiary Predictive laboratories has enrolled 200 subjects in the Institutional Review Boards approved study for chronic joint and spine pain disease.
In other developments, yesterday the company announced the appointment a new Board of Directors Committee Chair and submitted an application to list its common stock on NASDAQ.
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IRB study
The goal of the IRB approved study is to carry out genetic research in diagnosis, prevention, and treatment of causative factors of chronic pain. The company has indicated that they have enrolled 200 volunteer participants who have already given their DNA samples to the Predictive Laboratories’ Biorepository as well as the provision of medical reports from their healthcare providers.
Bradley Robinson the CEO of Predictive Technology Group stated that in every five American adults at least one suffers from chronic pain and opioid use has led to increased addiction and overdose as patients try to find relief. He stated that there has been a positive response from patients who have enrolled in the study in search of a better solution to the pain. This will be a great milestone for predictive technology which will use its analytic capabilities to add genetic data to its robust pipeline to help in therapeutic treatments for the disease.
Appointment of Committee Chairs
In a quarterly meeting held on May 8, 2019, Predictive Technology completed its board committee appointments. John Sorrentinothe Chairman announced that Jay Moyes will be chairing the Audit and Compliance Committee while Ron Barhorst will chair the Compensation Committee. Sorrentino will be chairing the Nominating Committee.
Sorrentino said that the board has made great progress in setting predictive technology’s future by filling the important roles and welcoming of new board members.
Submission of NASDAQ listing application
Predictive Technology management has submitted an application to list its common shares on the NASDAQ Exchange. This is subject to NASDAQ approval and fulfillment of the necessary listing standards.
MediPharm Labs Corp. (OTCMKTS – MEDIF) Announces Solid Results, Stock Doubles in Six Weeks
MediPharm Labs Corp. (OTCMKTS – MEDIF) stock has been on fire over the past six weeks amid several headlines by the company. MEDIF stock has jumped over 100% since March 2019. MediPharm’s stock is up another 5% in early trading session after hitting a new 52-week high of $4.99.
This morning, MediPharm reported solid revenue growth in its fiscal first quarter. The company’s revenue soared 115% year over year to $22 million. Moreover, gross margin was stood at 31%.
Adjusted EBITDA increased by 102% to $4.3 million, over Q4 2018, Adjusted EBITDA. Acquired more than 5,000 kg of dried cannabis in the last two weeks of Q1 from multiple Licensed Producers to fulfill robust demand for private label offerings.
Last week, MediPharm Labs begun trading under the symbol MEDIF after upgrading from OTCQB Venture Market to OTCQX Best Market. Additionally, The company also announced that it has received Depository Trust company eligibility for its common stock in the US.
DTC Eligibility
DTC eligibility simplifies the trading and transferring of common stock between brokerages in the United States. Patrick McCutcheon the CEO of MediPharm Labs stated that the company was delighted to receive DTC eligibility which will facilitate the trading of the company’s common stock in the markets. He added that they are also pursuing other opportunities to strengthen and enhance the company’s liquidity and value for stockholders while increasing accessibility for investors and institution in the US.
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MediPharm Labs common stock will be settled and distributed through the automated DTC processes which give greater efficiency at reduced costs because of the use of electronic clearing and accelerated settlement of securities.
Change Of Ticker Symbol
The company indicated t5hat FINRA had approved the change of their stock trading symbol from “MLCPF” to “MEDIF” on OTCQB Markets. McCutcheon stated that as a fully licensed producer, MediPharm has scaled its operations to become a dominant market Leader in the processing of cannabis and manufacture of high-quality cannabis pharmaceutical products. he added that the company has embarked on an ambitious plan to boost its international and local growth as they strive to become a market leader.
The upgrading from the OTCQB Market to the OTCQX Market is one of the steps the company is taking to attain accelerated growth and it also shows the commitment of the company to transparency and improving liquidity. It is also a way of enhancing MediPharm’s exposure and access to investors to be part of the success of the company.
Jason Paltrowitz the OTC Markets Group Executive Vice President of Corporate Services indicated that MediPharm Labs was among a number of leading companies and innovators in their industry that have joined OTCQX Best Market. He added that OTCQX enables companies to provide investors with a transparent public market to research and trade their shares.
Considering the recent rally in the stock, it would be interesting to see where the stock will go from here on.
Bitcoin (BTC) Price Continues To Hit Highs For 2019 On Positive Sentiment
During the 2017 bullish run, the markets of Bitcoin (BTC) and Altcoins were inversely correlated where one could surge at the expense of the other. Traders and investors used to switch between the two assets and considering there are so many stablecoins nowadays one could assume that the correlation diminished but it has grown stronger than ever.
BTC Up 3% Today
Bitcoin Price has been on the upward trend in recent weeks and it was up 3% on the day during the Asian trading this morning setting a new six month and 2019 high of $6,290. Since breaking the $6,000 barrier yesterday BTC has not dropped and its volume has increased to around $18 billion as it continues to push higher.
Since last Friday Bitcoin has been on the rise gaining 12% to outperform almost all competitors. Following this market dominance, this is the highest BTC has been in the past 17 months at 58.3%.
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Altcoins Continue To Take A Hammering
The 66% surge of bitcoin since the beginning of 2019 has been at the expense of Altcoins which are receiving a beating today. Although Ethereum is still flat its market share has nonetheless dropped below 10%. XRP has been on the fall but Ripple has been increasing its supply and currently it is below $0.30. Most of the major cryptocurrencies have been taking a beating and have dropped between 3% and 8% on the day.
In a tweet Bitcoin trader ‘SalsaTekila’ predicted that Bitcoin price will continue with the upward trend to over $6,400 before experiencing any kind of drop. This was 2018’s most traded price so there is a strong possibility as it is only $150 away from the present prices.
Usually, weekends are sluggish when it comes to crypto trading activity and thus if Bitcoin price remains above $6,000 then more gains should be expected. The crypto market currently looks like the Q3 2017 when BTC surged at altcoins’ expense.
Harte Gold Corp. (OTCMKTS – HRTFF) Announce Refinancing Of Its Debt, Shares Jump
Shares of Harte Gold Corp. (OTCMKTS:HRTFF) are on fire over the past one week as the stock has jumped over 30% since May 02.
yesterday, the company had announced the total refinancing of its debt and the receipt of approval to expand operational throughput to 800 tonnes per day from 540 tonnes per day. The company has also announced the Feasibility study results of its 100% owned Sugar Zone Mine in White River Ontario.
Refinancing debt
The company has completed its BNP Paribas debt financing package for $72.5 million which comprises of a 6-year term loan of $52.5 million and 3-year revolving credit facility of $20.0 million. The repayment of the debt will commence on March 31, 2020, when Harte Gold will be produced in full capacity.
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Harte Gold has also settled the $10.0 million equity investment provided by Appian Natural Resources Fund at $0.27 per common stock.
On May 3rd Harte Gold received permits to increase their mine production to 800 tonnes per day which will increase the company’s annual gold production to around 65,000 ounces.
Sugar Zone Mine Feasibility Study
The Feasibility Study indicates probable mineral reserves of 3.9 million tonnes at 7.1g/t Au which contains 890 ounces of gold reflecting a 38% net mining dilution. The production will generate net free cash flow of 30 million annually at $1,300/oz gold. The process plant and mine are already operational thus they will not require any additional construction expenses.
The mine is an expansion opportunity for Harte Gold and it will produce 1,200tpd and could increase gold production to 95,000 ounces which will minimize cash costs based on benefits of scale. The FS demonstrated that the conversion of the near mine exploration target has the potential of extending the mine life as well as reducing mining development expenses for each tonne of ore processed.
Another opportunity identified is the installation of a leach circuit for on-site processing of floatation concentrate which will increase payable gold ounces as well as reduce costs.
Harte Gold is the newest gold producer in Ontario through the 100% owned Sugar Zone Mine in White River Ontario.