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Sigmatron Intl (NASDAQ:SGMA) Stock, Option Chain

Sigmatron International

Sigmatron International Inc is an independent provider of electronic manufacturing services (EMS). It provides manufacturing and assembly services ranging from the assembly of individual components to the assembly and testing of box-build electronic products. The company manufactures products like printed circuit board assemblies, electro-mechanical subassemblies, and completely assembled (box-build) electronic products which are incorporated into finished products and sold in various industries, particularly industrial electronics, consumer electronics, and life sciences. In some instances, it manufactures and assembles the completed finished product for its customers. Geographically, the company derives maximum revenue from Mexico and the rest from the United States, China, and Vietnam.

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Hostess Brands, Inc. - Class A Common Stock

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U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining more than 1% on Monday.

The Dow traded up 0.29% to 34,676.52 while the NASDAQ rose 1.16% to 13,920.60. The S&amp;P 500, also rose, gaining, 0.66% to 4,486.98.

Nasdaq Rises Over 1%; Hostess Brands Shares Spike Higher

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Gainers


	Crinetics Pharmaceuticals, Inc.  (NASDAQ: CRNX) jumped 76% to $28.13 after the company&#39;s once-daily oral paltusotine achieved the primary and secondary endpoints in the Phase 3 PATHFNDR-1 study in acromegaly.


Why Avantax Shares Are Trading Higher By Over 27%? Here Are Other Stocks Moving In Monday&#39;s Mid-Day Session

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining around 80 points on Monday.

The Dow traded up 0.40% to 34,715.88 while the NASDAQ rose 0.58% to 13,841.50. The S&amp;P 500, also rose, gaining, 0.52% to 4,480.87.

Gold Edges Higher; Virco Manufacturing Shares Surge After Q2 Results

SigmaTron International, Inc. - Common Stock

Sigmatron International Inc

Sigmatron International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMA#NASDAQ">SGMA</a>) reported quarterly losses of $(1.55) per share. The company reported $74.72 million in sales this quarter. This is a 24.29 percent decrease over sales of $98.69 million the same period last year.

Sigmatron International Q2 EPS $(1.55), Sales $74.72M Down From $98.69M YoY

Sigmatron International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMA#NASDAQ">SGMA</a>) reported quarterly losses of $(0.54) per share. This is a 1450 percent decrease over earnings of $0.04 per share from the same period last year. The company reported $84.78 million in sales this quarter. This is a 13.61 percent decrease over sales of $98.13 million the same period last year.

Sigmatron International Q1 EPS $(0.54) Down From $0.04 YoY, Sales $84.78M Down From $98.13M YoY

SigmaTron International Regains Nasdaq Compliance

WIIM

SigmaTron International shares are trading lower after the company reported a year-over-year decrease in FY24 financial results and Q4 EPS.

Sigmatron International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMA#NASDAQ">SGMA</a>) reported quarterly losses of $(0.55) per share. This is a 1475 percent decrease over earnings of $0.04 per share from the same period last year. The company reported $81.14 million in sales this quarter. This is a 25.07 percent decrease over sales of $108.29 million the same period last year.

Sigmatron International Q4 EPS $(0.55) Down From $0.04 YoY, Sales $81.14M Down From $108.29M YoY

SigmaTron International FY24 Revenues From Continuing Operations $373.9M, Down From $414.4M YoY; EPS $(0.41) vs $2.34 YoY

SigmaTron International Nasdaq Noncompliance Notification

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Shares of stocks in the broader tech sector are trading lower amid a sell off due to US economy concerns.

Sigmatron International Q3 EPS $0.10, Sales $95.92M Up From $92.74M YoY

<h3>What Defines a Value Stock?</h3>
A value stock traditionally has a lower price when compared to stock prices of companies in the same industry. This indicates that the company may be undervalued, as investors are not expressing as much interest in such companies. The most commonly used way to check for value is with the price-to-earnings multiple, or P/E. A low P/E multiple is a good indication that the stock is undervalued. 
<h2>Benzinga Insights has compiled a list of value stocks in the technology sector that may be worth watching:</h2>
<ol>
<li>Daktronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAKT#NASDAQ">DAKT</a>) - P/E: 7.45</li>
<li>Movella Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MVLA#NASDAQ">MVLA</a>) - P/E: 0.13</li>
<li>Sigmatron Intl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMA#NASDAQ">SGMA</a>) - P/E: 2.35</li>
<li>Yalla Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YALA#NYSE">YALA</a>) - P/E: 8.54</li>
<li>FiscalNote Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOTE#NYSE">NOTE</a>) - P/E: 4.17</li>
</ol>
Daktronics has reported Q2 earnings per share at $0.27, which has decreased by 35.71% compared to Q1, which was 0.42. The company's most recent dividend yield sits at 3.4%, which has increased by 0.02% from 3.38% last quarter. 
Movella Holdings has been featured as a value stock. Movella Holdings's Q2 EPS sits at $-0.12, which has not changed since last quarter (Q1). Sigmatron Intl saw a decrease in earnings per share from 0.04 in Q1 to $0.0 now. This quarter, Yalla Group experienced an increase in earnings per share, which was $0.16 in Q2 and is now $0.21. Most recently, FiscalNote Holdings reported earnings per share at $-0.11, whereas in Q2 earnings per share sat at $-0.23. 
The Significance: A value stock may need some time to rebound from its undervalued position. The risk of investing in a value stock is that this emergence may never materialize.

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5 Value Stocks To Watch In The Technology Sector

<h3>What is a Value Stock?</h3>
A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock. 
<h2>Below is a list of notable value stocks in the technology sector:</h2>
<ol>
<li>Sigmatron Intl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMA#NASDAQ">SGMA</a>) - P/E: 2.35</li>
<li>MIND C.T.I. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDO#NASDAQ">MNDO</a>) - P/E: 8.62</li>
<li>ClearOne (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLRO#NASDAQ">CLRO</a>) - P/E: 1.18</li>
<li>Tower Semiconductor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSEM#NASDAQ">TSEM</a>) - P/E: 6.18</li>
<li>Arrow Electronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARW#NYSE">ARW</a>) - P/E: 6.51</li>
</ol>
Sigmatron Intl's earnings per share for Q2 sits at $0.0, whereas in Q1, they were at 0.04. MIND C.T.I. has been featured as a value stock. MIND C.T.I.'s Q3 EPS sits at $0.06, which has not changed since last quarter (Q2). The company's most recent dividend yield sits at 10.32%, which has increased by 1.62% from 8.7% last quarter. 
ClearOne saw a decrease in earnings per share from -0.04 in Q2 to $-0.05 now. Tower Semiconductor's earnings per share for Q3 sits at $0.54, whereas in Q2, they were at 0.46. This quarter, Arrow Electronics experienced a decrease in earnings per share, which was $4.37 in Q2 and is now $4.14. 
The Significance: A value stock may need some time to rebound from its undervalued position. The risk of investing in a value stock is that this emergence may never materialize.

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A Look Into Technology Sector Value Stocks

<h3>The Meaning Behind Value Stocks</h3>
A value stock traditionally has a lower price when compared to stock prices of companies in the same industry. This indicates that the company may be undervalued, as investors are not expressing as much interest in such companies. The most commonly used way to check for value is with the price-to-earnings multiple, or P/E. A low P/E multiple is a good indication that the stock is undervalued. 
<h2>Below is a list of notable value stocks in the technology sector:</h2>
<ol>
<li>Daktronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAKT#NASDAQ">DAKT</a>) - P/E: 7.95</li>
<li>Sigmatron Intl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMA#NASDAQ">SGMA</a>) - P/E: 2.37</li>
<li>Nokia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) - P/E: 4.65</li>
<li>CXApp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CXAI#NASDAQ">CXAI</a>) - P/E: 0.41</li>
<li>Avnet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVT#NASDAQ">AVT</a>) - P/E: 5.49</li>
</ol>
Daktronics saw a decrease in earnings per share from 0.42 in Q1 to $0.27 now. Most recently, the company reported a dividend yield of 3.4%, which has increased by 0.02% from last quarter's yield of 3.38%.
This quarter, Sigmatron Intl experienced a decrease in earnings per share, which was $0.04 in Q1 and is now $0.0. Nokia saw a decrease in earnings per share from 0.08 in Q2 to $0.05 now. Its most recent dividend yield is at 3.95%, which has increased by 0.54% from 3.41% in the previous quarter.
CXApp's earnings per share for Q3 sits at $0.13, whereas in Q2, they were at -1.05. Most recently, Avnet reported earnings per share at $1.61, whereas in Q4 earnings per share sat at $2.06. Its most recent dividend yield is at 2.55%, which has increased by 0.04% from 2.51% in the previous quarter.
These 5 value stocks were selected by Benzinga Insights based on quantified analysis. While this methodical judgment process is not meant to make final decisions, our technology can give investors additional perception into the sector.

Overview Of Value Stocks In The Technology Sector

<h3>Gainers</h3>
<ul>
<li>ComSovereign Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COMS#NASDAQ">COMS</a>) shares rose 10.5% to $0.88 during Tuesday's after-market session. The market value of their outstanding shares is at $2.3 million. </li>
<li>Backblaze (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLZE#NASDAQ">BLZE</a>) stock rose 4.9% to $8.12. The company's market cap stands at $305.3 million. </li>
<li>Movano (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOVE#NASDAQ">MOVE</a>) stock increased by 4.82% to $0.63. The company's market cap stands at $35.0 million. </li>
<li>Airspan Networks Hldgs (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MIMO#AMEX">MIMO</a>) shares rose 4.7% to $0.09. The company's market cap stands at $6.6 million. </li>
<li>SEALSQ (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAES#NASDAQ">LAES</a>) shares moved upwards by 4.46% to $1.17. The market value of their outstanding shares is at $10.5 million. </li>
<li>Cipher Mining (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIFR#NASDAQ">CIFR</a>) shares moved upwards by 3.61% to $5.16. The market value of their outstanding shares is at $1.3 billion. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Sigmatron Intl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMA#NASDAQ">SGMA</a>) shares fell 14.4% to $2.79 during Tuesday's after-market session. The market value of their outstanding shares is at $17.0 million. </li>
<li>Cyngn (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYN#NASDAQ">CYN</a>) stock fell 6.46% to $0.14. The company's market cap stands at $7.7 million. </li>
<li>MicroAlgo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLGO#NASDAQ">MLGO</a>) shares fell 5.31% to $1.07. The company's market cap stands at $46.9 million. </li>
<li>Sigma Additive Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SASI#NASDAQ">SASI</a>) shares declined by 5.04% to $3.02. The company's market cap stands at $2.3 million. </li>
<li>Oblong (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OBLG#NASDAQ">OBLG</a>) stock declined by 4.91% to $0.19. The market value of their outstanding shares is at $2.8 million. </li>
<li>VerifyMe (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRME#NASDAQ">VRME</a>) shares declined by 4.72% to $1.01. The market value of their outstanding shares is at $10.0 million. 
See Also: <a href="http://www.benzinga.com/money/tech-stocks/" title="www.benzinga.com/money/tech-stocks/">www.benzinga.com/money/tech-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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12 Information Technology Stocks Moving In Tuesday's After-Market Session

<h3>Gainers</h3>
<ul>
<li>ComSovereign Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COMSP#NASDAQ">COMSP</a>) shares increased by 56.0% to $1.81 during Friday's regular session. </li>
<li>VerifyMe (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRME#NASDAQ">VRME</a>) stock moved upwards by 19.3% to $1.21. The company's market cap stands at $12.0 million. </li>
<li>SemiLEDs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LEDS#NASDAQ">LEDS</a>) shares rose 15.79% to $1.46. The market value of their outstanding shares is at $7.2 million. </li>
<li>Inuvo (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/INUV#AMEX">INUV</a>) stock increased by 13.1% to $0.33. The company's market cap stands at $46.2 million. </li>
<li>MicroAlgo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLGO#NASDAQ">MLGO</a>) shares increased by 11.46% to $2.29. The company's market cap stands at $100.2 million. </li>
<li>Casa Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASA#NASDAQ">CASA</a>) stock moved upwards by 10.37% to $0.5. The company's market cap stands at $49.5 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Cyngn (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYN#NASDAQ">CYN</a>) shares fell 48.5% to $0.21 during Friday's regular session. The company's market cap stands at $8.6 million. </li>
<li>Comtech Telecom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMTL#NASDAQ">CMTL</a>) stock decreased by 28.92% to $8.89. The company's market cap stands at $250.5 million. The company's, Q1 earnings came out yesterday. </li>
<li>HashiCorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HCP#NASDAQ">HCP</a>) stock declined by 18.72% to $20.24. The company's market cap stands at $3.9 billion. The company's, Q3 earnings came out yesterday. </li>
<li>Sigmatron Intl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMA#NASDAQ">SGMA</a>) stock declined by 16.51% to $3.06. The market value of their outstanding shares is at $18.6 million. As per the press release, Q2 earnings came out today. </li>
<li>ReAlpha Tech Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIRE#NASDAQ">AIRE</a>) stock declined by 10.4% to $2.93. The company's market cap stands at $129.2 million. </li>
<li>Actelis Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASNS#NASDAQ">ASNS</a>) stock declined by 10.02% to $1.1. The market value of their outstanding shares is at $2.9 million. 
See Also: <a href="http://www.benzinga.com/money/tech-stocks/" title="www.benzinga.com/money/tech-stocks/">www.benzinga.com/money/tech-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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12 Information Technology Stocks Moving In Friday's Intraday Session

Sigmatron International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMA#NASDAQ">SGMA</a>) reported $98.70 million in sales this quarter. This is a 9.18 percent decrease over sales of $108.68 million the same period last year.

Sigmatron International Q2 EPS $0.00, Sales $98.70M Down From $108.68M YoY

U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining more than 1% on Monday.
The Dow traded up 0.29% to 34,676.52 while the NASDAQ rose 1.16% to 13,920.60. The S&amp;P 500, also rose, gaining, 0.66% to 4,486.98.
Check This Out: <a href="https://www.benzinga.com/news/23/09/34437040/lattice-semiconductor-navitas-semiconductor-and-2-other-stocks-insiders-are-selling"> Lattice Semiconductor, Navitas Semiconductor And 2 Other Stocks Insiders Are Selling</a>
&nbsp; 
<h3>Leading and Lagging Sectors</h3>

Consumer discretionary shares jumped by 2.6% on Monday.
In trading on Monday, energy shares fell by 1.3%.
&nbsp; 
<h3>Top Headline</h3>

JM Smucker (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sjm#NYSE">SJM</a>) has announced an acquisition of Hostess Brands (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/twnk#NASDAQ">TWNK</a>) that is expected to be completed April 30, 2024.
Under the terms of the agreement, JM Smucker has agreed to give Hostess Brands $5.60 billion in cash &amp; stock in exchange for TWNK stock.
&nbsp; 
<h3>Equities Trading UP</h3>

Hostess Brands, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/twnk#NASDAQ">TWNK</a>) shares shot up 19% to $33.54 after J.M. Smucker announced it will acquire the company.
Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crnx#NASDAQ">CRNX</a>) got a boost, shooting 64% to $26.27 after the company&#39;s once-daily oral paltusotine achieved the primary and secondary endpoints in the Phase 3 PATHFNDR-1 study in acromegaly.
Avantax, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avta#NASDAQ">AVTA</a>) shares were also up, gaining 29% to $25.64 as the company agreed to be acquired by Cetera Holdings for $26 per share in cash.
&nbsp; 
<h3>Equities Trading DOWN</h3>

SigmaTron International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sgma#NASDAQ">SGMA</a>) shares dropped 50% to $3.78 after the company released first-quarter earnings.
Shares of Tenon Medical, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tnon#NASDAQ">TNON</a>) were down 38% to $0.1551 after the company announced proposed public offering of common stock.
Granite Ridge Resources, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/grnt#NYSE">GRNT</a>) was down, falling 17% to $6.21. Granite Ridge Resources launched a secondary public offering of 7.1 million shares by selling stockholders.
Also Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/09/34428045/this-analyst-with-87-accuracy-rate-sees-more-than-20-upside-in-rh-here-are-5-stock-picks"> This Analyst With 87% Accuracy Rate Sees More Than 20% Upside In RH - Here Are 5 Stock Picks For Last Week From Wall Street&#39;s Most Accurate Analysts</a>
&nbsp; 
<h3>Commodities</h3>

In commodity news, oil traded up 0.1% to $87.52 while gold traded up 0.2% at $1,946.90.
Silver traded up 0.9% to $23.385 on Monday while copper rose 2.4% to $3.8060.
&nbsp; 
<h3>Euro zone</h3>

European shares closed higher today. The eurozone&rsquo;s STOXX 600 gained 0.34% London&rsquo;s FTSE 100 rose 0.25% while Spain&rsquo;s IBEX 35 Index rose 0.75% The German DAX rose 0.39% French CAC 40 rose 0.52%, while Italy&rsquo;s FTSE MIB Index rose 1.03%.
Industrial production in Italy fell 0.7% from a month ago in July versus a 0.5% growth in the prior month.
&nbsp; 
<h3>Asia Pacific Markets</h3>

Asian markets closed mixed on Monday, with Japan&rsquo;s Nikkei 225 falling 0.43%, Hong Kong&rsquo;s Hang Seng Index fell 0.58% and China&rsquo;s Shanghai Composite Index gaining 0.84%. India&rsquo;s S&amp;P BSE Sensex, meanwhile, rose 0.5%.
China&#39;s consumer prices increased by 0.1% year-over-year in August compared to market views of a 0.2% gain, while producer prices fell 3.0% year-over-year in August following a 4.4% decline a month ago. China&#39;s vehicle sales jumped by 8.4% year-over-year to 2.582 million units in August versus a 1.4% fall in the prior month, while total social financing increased to CNY 3.12 trillion in August from CNY 0.53 trillion a month ago. Japan&#39;s machine tool orders declined 17.6% year-over-year to JPY 114,746 million in August.
&nbsp; 
<h3>Economics</h3>

There were no major US economic releases Monday.
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/09/34436881/top-5-materials-stocks-that-could-blast-off-this-month"> Top 5 Materials Stocks That Could Blast Off This Month</a>
&nbsp; 
<h3>COVID-19 Update</h3>

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 108,296,300 cases with around 1,174,580 deaths. India confirmed a total of at least 44,997,710 cases and 531,930 deaths, while France reported over 40,138,560 COVID-19 cases with 167,640 deaths. In total, there were at least 695,108,160 cases of COVID-19 worldwide with more than 6,914,370 deaths.

<h3>Gainers</h3>
<ul>
<li>Crinetics Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crnx#NASDAQ">CRNX</a>) jumped 76% to $28.13 after the company&#39;s once-daily oral paltusotine achieved the primary and secondary endpoints in the Phase 3 PATHFNDR-1 study in acromegaly.</li>
<li>NovaBay Pharmaceuticals, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nby#NYSE">NBY</a>) shares climbed 62.9% to $1.01 after the company granted Biostem Technologies the right to commercialize amniotic tissue allograft, which is intended for use as a protective covering during the repair of ocular surfaces.</li>
<li>Plus Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pstv#NASDAQ">PSTV</a>) surged 38% to $1.9167. Plus Therapeutics received $1.9 million advance payment from CPRIT.</li>
<li>Avantax, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avta#NASDAQ">AVTA</a>) rose 27.5% to $25.45 as the company agreed to be acquired by Cetera Holdings for $26 per share in cash.</li>
<li>Yoshiharu Global Co. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/yosh#NASDAQ">YOSH</a>) gained 24% to $0.4344. Yoshiharu signed a non-binding Memorandum of Understanding to acquire Jjanga LLC, HJH LLC and Ramen Aku LLC Restaurants in Las Vegas.</li>
<li>Aurora Cannabis Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acb#NASDAQ">ACB</a>) jumped 22.2% to $0.6463. Aurora Cannabis repurchased an aggregate of roughly CA$12.3 million ($9 million) principal amount of its convertible senior notes in multiple transactions between Aug. 16 and Sept. 8, 2023.</li>
<li>Versus Systems Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vs#NASDAQ">VS</a>) shares gained 20.8% to $0.3145.</li>
<li>Hostess Brands, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/twnk#NASDAQ">TWNK</a>) rose 18.9% to $33.42 after J.M. Smucker announced it will acquire the company.</li>
<li>Canopy Growth Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cgc#NASDAQ">CGC</a>) shares gained 17.5% to $1.0950.</li>
<li>Virco Mfg. Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/virc#NASDAQ">VIRC</a>) rose 13.9% to $5.24 following better-than-expected quarterly results.</li>
<li>Marker Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrkr#NASDAQ">MRKR</a>) jumped 12.5% to $6.21. Marker Therapeutics announced the preliminary results of the first participant treated with MT-601, its multi-tumor associated antigen-specific T Cell product targeting 6 Taas, in the Phase 1 multicenter APOLLO trial.</li>
<li>Altisource Asset Management Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aamc#NYSE">AAMC</a>) gained 12.5% to $7.10. Altisource Asset Management reported a stock dividend in lieu of a stock split and appointment of Richard Rodick as new CFO.</li>
<li>Mullen Automotive, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/muln#NASDAQ">MULN</a>) rose 12% to $0.4670.</li>
<li>Aesthetic Medical International Holdings Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aih#NASDAQ">AIH</a>) rose 11.5% to $0.9129. Aesthetic Medical International announced receipt of Nasdaq notification letter regarding minimum bid price deficiency.</li>
<li>Bowlero Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bowl#NYSE">BOWL</a>) gained 11.3% to $11.27 following quarterly results.</li>
<li>1-800-FLOWERS.COM, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/flws#NASDAQ">FLWS</a>) rose 9.7% to $6.96.</li>
<li>Kaixin Auto Holdings (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kxin#NASDAQ">KXIN</a>) gained 9.5% to $0.2802. Kaixin Auto inked a non-binding acquisition term sheet with WM Motor.</li>
<li>BeiGene, Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bgne#NASDAQ">BGNE</a>) climbed 9% to $209.91 amid a report the company is working with Luye to commercialize a breast cancer treatment in China.</li>
<li>Carlisle Companies Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/csl#NYSE">CSL</a>) gained 8.1% to $271.62.</li>
<li>BlackBerry Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bb#NYSE">BB</a>) gained 7.6% to $4.91. BlackBerry launched &#39;intrinsically safe&#39; certified solution for hazardous materials carriers.</li>
<li>Tesla, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) shares rose 5.5% to $262.24. Morgan Stanley upgraded Tesla from Equal-Weight to Overweight and raised the price target from $250 to $400.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>SigmaTron International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sgma#NASDAQ">SGMA</a>) shares dipped 46.6% to $4.03 after the company released first-quarter earnings.</li>
<li>Tenon Medical, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tnon#NASDAQ">TNON</a>) fell 31.8% to $0.1711 after the company announced proposed public offering of common stock.</li>
<li>Solowin Holdings (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/swin#NASDAQ">SWIN</a>) fell 28.4% to $3.5163. Solowin Holdings announced closing of initial public offering.</li>
<li>Axcella Health Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/axla#NASDAQ">AXLA</a>) fell 22.7% to $0.7572 after jumping more than 70% on Friday.</li>
<li>CXApp Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cxai#NASDAQ">CXAI</a>) fell 17.8% to $2.70.</li>
<li>WANG &amp; LEE GROUP, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wlgs#NASDAQ">WLGS</a>) fell 17.8% to $0.83 after surging around 22% on Friday.</li>
<li>Courtside Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/podc#NASDAQ">PODC</a>) shares fell 17.7% to $3.610 after declining 45% on Friday.</li>
<li>Hitek Global Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hkit#NASDAQ">HKIT</a>) fell 16.2% to $2.6575 after dipping 25% on Friday.</li>
<li>IHS Holding Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ihs#NYSE">IHS</a>) shares dipped 15.7% to $5.01.</li>
<li>BioNexus Gene Lab Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bglc#NASDAQ">BGLC</a>) declined 11.4% to $1.0099.</li>
<li>Elutia Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/elut#NASDAQ">ELUT</a>) fell 11.1% to $1.32.</li>
<li>Granite Ridge Resources, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/grnt#NYSE">GRNT</a>) declined 11% to $6.67. Granite Ridge Resources launched a secondary public offering of 7.1 million shares by selling stockholders.</li>
<li>Nuwellis, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nuwe#NASDAQ">NUWE</a>) fell 10.7% to $1.7150 after gaining around 7% on Friday.</li>
<li>Impel Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/impl#NASDAQ">IMPL</a>) shares fell 10% to $0.3789 after gaining 10% on Friday.</li>
<li>Neptune Wellness Solutions Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nept#NASDAQ">NEPT</a>) tumbled 10% to $6.35.</li>
<li>Puyi Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/puyi#NASDAQ">PUYI</a>) fell 9.6% to $5.20.</li>
<li>Loop Media, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lptv#NASDAQ">LPTV</a>) declined 9.2% to $0.5725.</li>
<li>Butterfly Network, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bfly#NYSE">BFLY</a>) fell 8.8% to $1.7050.</li>
<li>Virgin Galactic Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spce#NYSE">SPCE</a>) declined 8.3% to $2.0998.</li>
<li>Magenta Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mgta#NASDAQ">MGTA</a>) fell 8.1% to $0.6969.</li>
<li>The J. M. Smucker Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sjm#NYSE">SJM</a>) fell 7.9% to $130.39 after the company announced it will acquire Hostess Brands.</li>
<li>Cingulate Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cing#NASDAQ">CING</a>) shares fell 7.8% to $0.5324 after the company said Werth Family Investment Associates, LLC has converted $5.8 million of debt and accrued interest into Cingulate equity, at a conversion price of $0.85 per share.</li>
<li>SmartRent, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/smrt#NYSE">SMRT</a>) fell 7.5% to $2.84.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/23/09/34437040/lattice-semiconductor-navitas-semiconductor-and-2-other-stocks-insiders-are-selling"> Lattice Semiconductor, Navitas Semiconductor And 2 Other Stocks Insiders Are Sellingr</a>

Why Avantax Shares Are Trading Higher By Over 27%? Here Are Other Stocks Moving In Monday's Mid-Day Session

<h3>Gainers</h3>
<ul>
<li>Akerna (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KERN#NASDAQ">KERN</a>) stock increased by 24.5% to $0.39 during Monday's regular session. Trading volume for Akerna's stock is 1.7 million as of 13:30 EST. This is 1002.9% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $3.0 million. </li>
<li>Semantix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STIX#NASDAQ">STIX</a>) shares moved upwards by 19.37% to $1.54. Trading volume for Semantix's stock is 324.5K as of 13:30 EST. This is 273.1% of its average full-day volume over the last 100 days. The company's market cap stands at $121.1 million. </li>
<li>Datasea (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DTSS#NASDAQ">DTSS</a>) shares rose 15.66% to $0.59. As of 13:30 EST, Datasea's stock is trading at a volume of 3.4 million, which is 616.8% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $16.3 million. </li>
<li>D-Wave Quantum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>) shares increased by 15.21% to $1.05. D-Wave Quantum's stock is trading at a volume of 1.9 million shares as of 13:30 EST. This is 33.1% of its average full-day volume over the last 100 days. The company's market cap stands at $152.7 million. </li>
<li>Crexendo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CXDO#NASDAQ">CXDO</a>) shares rose 12.18% to $2.43. The current volume of 183.2K shares is 678.5% of Crexendo's average full-day volume over the last 100 days (last updated at 13:30 EST). The company's market cap stands at $63.2 million. </li>
<li>Oblong (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OBLG#NASDAQ">OBLG</a>) shares increased by 11.79% to $0.76. As of 13:30 EST, this security is trading at a volume of 121.9K shares, making up 110.2% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $2.2 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Sigmatron Intl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMA#NASDAQ">SGMA</a>) shares fell 50.5% to $3.76 during Monday's regular session. Sigmatron Intl's stock is trading at a volume of 1.1 million shares as of 13:30 EST. This is 680.8% of its average full-day volume over the last 100 days. The company's market cap stands at $22.8 million. As per the news, the Q1 earnings report came out today. </li>
<li>CXApp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CXAI#NASDAQ">CXAI</a>) shares declined by 25.61% to $2.44. CXApp's stock is trading at a volume of 1.6 million shares as of 13:30 EST. This is 211.5% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $37.2 million. </li>
<li>Hitek Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HKIT#NASDAQ">HKIT</a>) stock decreased by 20.13% to $2.54. As of 13:30 EST, Hitek Global's stock is trading at a volume of 1.6 million, which is 194.3% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $36.0 million. </li>
<li>Sigma Additive Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SASI#NASDAQ">SASI</a>) shares declined by 14.9% to $0.19. The current volume of 835.0K shares is 69.7% of Sigma Additive Solutions's average full-day volume over the last 100 days (last updated at 13:30 EST). The company's market cap stands at $2.0 million. </li>
<li>AgileThought (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGIL#NASDAQ">AGIL</a>) shares fell 14.49% to $0.12. Trading volume for AgileThought's stock is 1.3 million as of 13:30 EST. This is 39.3% of its average full-day volume over the last 100 days. The company's market cap stands at $6.4 million. </li>
<li>Verb Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERB#NASDAQ">VERB</a>) shares decreased by 12.29% to $1.53. Verb Tech's stock is trading at a volume of 3.2 million shares as of 13:30 EST. This is 103.4% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $6.8 million. 
See Also: <a href="http://www.benzinga.com/money/tech-stocks/" title="www.benzinga.com/money/tech-stocks/">www.benzinga.com/money/tech-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AGIL

CXDO

DTSS

KERN

QBTS

STIX

VERB

12 Information Technology Stocks Moving In Monday's Intraday Session

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining around 80 points on Monday.
The Dow traded up 0.40% to 34,715.88 while the NASDAQ rose 0.58% to 13,841.50. The S&amp;P 500, also rose, gaining, 0.52% to 4,480.87.
Check This Out: <a href="https://www.benzinga.com/news/23/09/34437040/lattice-semiconductor-navitas-semiconductor-and-2-other-stocks-insiders-are-selling"> Lattice Semiconductor, Navitas Semiconductor And 2 Other Stocks Insiders Are Selling</a>
&nbsp; 
<h3>Leading and Lagging Sectors</h3>

Consumer discretionary shares jumped by 1.8% on Monday.
In trading on Monday, information technology shares fell by 0.2%.
&nbsp; 
<h3>Top Headline</h3>

Virco Mfg. Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/virc#NASDAQ">VIRC</a>) shares jumped around 12% on Monday after the company reported better-than-expected second-quarter earnings.
Virco Mfg posted quarterly earnings of 95 cents per share, beating market estimates of 64 cents per share. The company&rsquo;s quarterly sales came in at $107.32 million versus expectations of $95.22 million.
&nbsp; 
<h3>Equities Trading UP</h3>

NovaBay Pharmaceuticals, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nby#NYSE">NBY</a>) shares shot up 32% to $0.8199 after the company granted Biostem Technologies the right to commercialize amniotic tissue allograft, which is intended for use as a protective covering during the repair of ocular surfaces.
Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crnx#NASDAQ">CRNX</a>) got a boost, shooting 73% to $27.58 after the company&#39;s once-daily oral paltusotine achieved the primary and secondary endpoints in the Phase 3 PATHFNDR-1 study in acromegaly.
Avantax, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avta#NASDAQ">AVTA</a>) shares were also up, gaining 28% to $25.52 as the company agreed to be acquired by Cetera Holdings for $26 per share in cash.
&nbsp; 
<h3>Equities Trading DOWN</h3>

SigmaTron International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sgma#NASDAQ">SGMA</a>) shares dropped 47% to $3.9791 after the company released first-quarter earnings.
Shares of Tenon Medical, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tnon#NASDAQ">TNON</a>) were down 36% to $0.1601 after the company announced proposed public offering of common stock.
Granite Ridge Resources, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/grnt#NYSE">GRNT</a>) was down, falling 11% to $6.66. Granite Ridge Resources launched a secondary public offering of 7.1 million shares by selling stockholders.
Also Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/09/34428045/this-analyst-with-87-accuracy-rate-sees-more-than-20-upside-in-rh-here-are-5-stock-picks"> This Analyst With 87% Accuracy Rate Sees More Than 20% Upside In RH - Here Are 5 Stock Picks For Last Week From Wall Street&#39;s Most Accurate Analysts</a>
&nbsp; 
<h3>Commodities</h3>

In commodity news, oil traded up 0.1% to $87.53 while gold traded up 0.3% at $1,948.40.
Silver traded up 0.8% to $23.36 on Monday while copper rose 2.3% to $3.8005.
&nbsp; 
<h3>Euro zone</h3>

European shares were mostly higher today. The eurozone&rsquo;s STOXX 600 gained 0.18% London&rsquo;s FTSE 100 fell 0.08% while Spain&rsquo;s IBEX 35 Index rose 0.49% The German DAX rose 0.28% French CAC 40 rose 0.42%, while Italy&rsquo;s FTSE MIB Index rose 0.76%.
Industrial production in Italy fell 0.7% from a month ago in July versus a 0.5% growth in the prior month.
&nbsp; 
<h3>Asia Pacific Markets</h3>

Asian markets closed mixed on Monday, with Japan&rsquo;s Nikkei 225 falling 0.43%, Hong Kong&rsquo;s Hang Seng Index fell 0.58% and China&rsquo;s Shanghai Composite Index gaining 0.84%. India&rsquo;s S&amp;P BSE Sensex, meanwhile, rose 0.5%.
China&#39;s consumer prices increased by 0.1% year-over-year in August compared to market views of a 0.2% gain, while producer prices fell 3.0% year-over-year in August following a 4.4% decline a month ago. China&#39;s vehicle sales jumped by 8.4% year-over-year to 2.582 million units in August versus a 1.4% fall in the prior month, while total social financing increased to CNY 3.12 trillion in August from CNY 0.53 trillion a month ago. Japan&#39;s machine tool orders declined 17.6% year-over-year to JPY 114,746 million in August.
&nbsp; 
<h3>Economics</h3>

There were no major US economic releases Monday.
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/09/34436881/top-5-materials-stocks-that-could-blast-off-this-month"> Top 5 Materials Stocks That Could Blast Off This Month</a>
&nbsp; 
<h3>COVID-19 Update</h3>

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 108,296,300 cases with around 1,174,580 deaths. India confirmed a total of at least 44,997,710 cases and 531,930 deaths, while France reported over 40,138,560 COVID-19 cases with 167,640 deaths. In total, there were at least 695,108,160 cases of COVID-19 worldwide with more than 6,914,370 deaths.

U.S. stocks traded higher this morning, with the Dow Jones gaining around 150 points on Monday.
Following the market opening Monday, the Dow traded up 0.46% to 34,736.26 while the NASDAQ rose 0.94% to 13,891.02. The S&amp;P 500, also rose, gaining, 0.68% to 4,488.02.
Check This Out: <a href="https://www.benzinga.com/news/23/09/34437040/lattice-semiconductor-navitas-semiconductor-and-2-other-stocks-insiders-are-selling"> Lattice Semiconductor, Navitas Semiconductor And 2 Other Stocks Insiders Are Selling</a>
&nbsp;
<h3>Leading and Lagging Sectors</h3>
&nbsp;
Consumer discretionary shares jumped by 1.4% on Monday.
In trading on Monday, health care shares rose by just 0.1%.
&nbsp;
<h3>Top Headline</h3>
&nbsp;
Virco Mfg. Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/virc#NASDAQ">VIRC</a>) reported better-than-expected second-quarter earnings.
Virco Mfg posted quarterly earnings of 95 cents per share, beating market estimates of 64 cents per share. The company&rsquo;s quarterly sales came in at $107.32 million versus expectations of $95.22 million.
&nbsp;
<h3>Equities Trading UP</h3>
&nbsp;
NovaBay Pharmaceuticals, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nby#NYSE">NBY</a>) shares shot up 101% to $1.24 after the company granted Biostem Technologies the right to commercialize amniotic tissue allograft, which is intended for use as a protective covering during the repair of ocular surfaces.
Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crnx#NASDAQ">CRNX</a>) got a boost, shooting 61% to $25.77 after the company&#39;s once-daily oral paltusotine achieved the primary and secondary endpoints in the Phase 3 PATHFNDR-1 study in acromegaly.
Versus Systems Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vs#NASDAQ">VS</a>) shares were also up, gaining 23% to $0.3205.
&nbsp;
<h3>Equities Trading DOWN</h3>
&nbsp;
SigmaTron International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sgma#NASDAQ">SGMA</a>) shares dropped 39% to $4.59 after the company released first-quarter earnings.
Shares of Tenon Medical, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tnon#NASDAQ">TNON</a>) were down 31% to $0.1735 after the company announced proposed public offering of common stock.
Solowin Holdings (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/swin#NASDAQ">SWIN</a>) was down, falling 24% to $3.7180. Solowin Holdings announced closing of initial public offering.
Also Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/09/34428045/this-analyst-with-87-accuracy-rate-sees-more-than-20-upside-in-rh-here-are-5-stock-picks"> This Analyst With 87% Accuracy Rate Sees More Than 20% Upside In RH - Here Are 5 Stock Picks For Last Week From Wall Street&#39;s Most Accurate Analysts</a>
&nbsp;
<h3>Commodities</h3>
&nbsp;
In commodity news, oil traded down 0.5% to $87.04 while gold traded up 0.3% at $1,948.70.
Silver traded up 0.6% to $23.32 on Monday while copper rose 1.9% to $3.7870.
&nbsp;
<h3>Euro zone</h3>
&nbsp;
European shares were higher today. The eurozone&rsquo;s STOXX 600 gained 0.3% London&rsquo;s FTSE 100 rose 0.1% while Spain&rsquo;s IBEX 35 Index rose 0.2% The German DAX rose 0.5% French CAC 40 rose 0.4%, while Italy&rsquo;s FTSE MIB Index rose 0.8%.
Industrial production in Italy fell 0.7% from a month ago in July versus a 0.5% growth in the prior month.
&nbsp;
<h3>Asia Pacific Markets</h3>
&nbsp;
Asian markets closed mixed on Monday, with Japan&rsquo;s Nikkei 225 falling 0.43%, Hong Kong&rsquo;s Hang Seng Index fell 0.58% and China&rsquo;s Shanghai Composite Index gaining 0.84%. India&rsquo;s S&amp;P BSE Sensex, meanwhile, rose 0.5%.
China&#39;s consumer prices increased by 0.1% year-over-year in August compared to market views of a 0.2% gain, while producer prices fell 3.0% year-over-year in August following a 4.4% decline a month ago. China&#39;s vehicle sales jumped by 8.4% year-over-year to 2.582 million units in August versus a 1.4% fall in the prior month, while total social financing increased to CNY 3.12 trillion in August from CNY 0.53 trillion a month ago. Japan&#39;s machine tool orders declined 17.6% year-over-year to JPY 114,746 million in August.
&nbsp;
<h3>Economics</h3>
&nbsp;
There were no major US economic releases Monday.
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/09/34436881/top-5-materials-stocks-that-could-blast-off-this-month"> Top 5 Materials Stocks That Could Blast Off This Month</a>
&nbsp;
<h3>COVID-19 Update</h3>
&nbsp;
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 108,296,300 cases with around 1,174,580 deaths. India confirmed a total of at least 44,997,710 cases and 531,930 deaths, while France reported over 40,138,560 COVID-19 cases with 167,640 deaths. In total, there were at least 695,108,160 cases of COVID-19 worldwide with more than 6,914,370 deaths.

US Stocks Open Higher; Dow Jumps 150 Points

NetApp (NTAP) delivered a solid performance in the fourth quarter of 2024, beating analysts' estimates on both top and bottom lines. Further, the company's outlook appears promising, driven by solid demand for its innovative data storage and CloudOps solutions and strategic initiatives. So, should you invest in this stock for long-term gains? Read more to find out... With a $26.27 billion market cap, NetApp, Inc. (<a href="https://stocknews.com/stock/NTAP/">NTAP</a>) is an intelligent data infrastructure company combining unified data storage, integrated data services, and CloudOps solutions, transforming a world of disruption into an opportunity for every customer. It reported solid fourth-quarter and full-year results amid surging demand for cloud-based data management solutions.
NTAP reported fourth-quarter revenue of $1.67 billion, surpassing analysts' estimate of $1.65 billion. Its Hybrid Cloud segment revenue was $1.52 billion, up 6.3% year-over-year. NetApp Public Cloud annualized revenue run rate (ARR) came in at $630 million, compared to $6.20 million in the prior year's quarter.
The intelligent data infrastructure company posted a non-GAAP net income per share of $1.80, compared to the consensus estimate of $1.79. Also, during the quarter, NTAP returned $1.32 billion to shareholders through share repurchases and cash dividends, underscoring its commitment to delivering value to investors.
Furthermore, NetApp announced a rise in its quarterly dividend to $0.52 per share and a new share repurchase authorization of an additional $1 billion.
"Our modern approach to unified data storage, spanning data types, price points, and hybrid multicloud environments, is clearly resonating in the market," said NTAP's CEO George Kurian. "In fiscal year 2025, we will remain laser focused on our top priorities of driving growth in all-flash and cloud storage services while maintaining our operational discipline."
For the first quarter of fiscal 2025, NTAP expects revenue of $1.46-$1.61 billion. The company's non-GAAP EPS for the ongoing quarter is expected to be $1.40-$1.50. For the fiscal year 2025, NetApp projects revenue and non-GAAP EPS of $6.45-$6.65 billion and $6.80-$7, respectively.
NTAP's stock has gained 42.5% over the past six months and 75.7% over the past year to close the last trading session at $127.64. Moreover, the stock soared 14.2% over the past month.
Here is what could impact NTAP's performance in the upcoming months:
Positive Recent Developments
On June 20, NTAP announced that Spot by NetApp achieved FinOps Foundation's Certified Platform certification, validating the platform's ability to offer the depth and breadth of capabilities organizations need to practice sound cloud financial management. Further, Spot by NetApp expanded its certified platform with the general availability of its Cost Intelligence and Billing Engine solutions.
On May 14, NTAP and Lenovo Group Ltd (<a href="https://stocknews.com/stock/LNVGY/">LNVGY</a>) took their strategic partnership to the next level by introducing NetApp AIPod with Lenovo ThinkSystem servers for NVIDIA OVX, a simple, affordable, and robust infrastructure solution optimized for the generative AI (GenAI) era.
"Through our collaboration with NVIDIA and Lenovo, NetApp is empowering organizations to harness the capabilities of AI more efficiently, ensuring that they can focus on creating value and gaining insights from their data without the complexity of building and managing AI infrastructure from scratch," said Sandeep Singh, Senior Vice President &amp; General Manager, Enterprise Storage at NTAP.
Further, on the same day, NetApp unveiled unified data storage powered by the new AFF A-Series systems that can power demanding IT workloads, such as GenAI, VMware, and enterprise databases. Also, the company introduced expanded capabilities across its portfolio to help customers operate more efficiently as they leverage their data to drive innovation.
Solid Financials
For the fourth quarter that ended on April 26, 2024, NTAP's net revenue increased 5.7% year-over-year to $1.67 billion. Its non-GAAP <a href="https://www.investopedia.com/terms/g/grossprofit.asp">gross profit</a> rose 9.3% from the year-ago value to $1.19 billion. Its non-GAAP income from operations grew 13.3% year-over-year to $469 million. Its non-GAAP income before income taxes was $483 million, up 15.3% from the prior year's quarter.
Furthermore, the company's non-GAAP net income came in at $383 million or $1.80 per share, increases of 14.4% and 16.9% year-over-year, respectively. Its free cash flow grew 189.3% year-over-year to $567 million. As of April 26, 2024, NTAP's cash, cash equivalents and investments were $3.25 billion.
Impressive Historical Growth
NTAP's revenue has grown at a CAGR of 3% over the past three years. Its EBITDA and bet income have increased at CAGRs of 10.7% and 10.5%, respectively, over the same period. Also, the company's EPS has grown at a CAGR of 12.8% over the same timeframe, and its levered free cash flow has improved at a CAGR of 8%.
Favorable Analyst Expectations 
Analysts expect NTAP's revenue for the first quarter (ending July 2024) to grow 6.5% year-over-year to $1.53 billion. The consensus EPS estimate of $1.45 for the current quarter indicates a 26.4% year-over-year increase. Also, the company has surpassed the consensus revenue and EPS estimates in each of the trailing four quarters, which is remarkable.
For the fiscal year ending April 2025, Street expects NetApp's revenue and EPS to grow 4.5% and 6.5% year-over-year to $6.55 billion and $6.88, respectively. In addition, the company's revenue and EPS for the fiscal year 2026 are expected to increase 4.7% and 7.2% from the previous year to $6.86 billion and $7.38, respectively.
Solid Profitability
NTAP's trailing-12-month gross profit margin of 70.72% is 42.3% higher than the 49.69% industry average. The stock's trailing-12-month EBIT margin of 20.23% is 324.1% higher than the 4.77% industry average. Similarly, its trailing-12-month net income margin of 15.73% is significantly higher than the 454.95% industry average.
Moreover, the stock's trailing-12-month ROCE, ROTC, and ROTA of 85.55%, 20.74%, and 9.97% favorably compared to the industry averages of 4.20%, 2.68%, and 1.69%, respectively. Its trailing-12-month levered FCF margin of 22.65% is 124.1% higher than the industry average of 10.11%.
POWR Ratings Reflect Promise
NTAP's sound fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to Buy in our proprietary rating system. The POWR Ratings are calculated by taking into account 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. NTAP has an A grade for Quality, consistent with its higher-than-industry profitability. Also, the stock has a B grade for Growth, in sync with its outstanding historical growth and solid financial performance in the last reported quarter.
Within the B-rated <a href="https://stocknews.com/category/technology-hardware/">Technology-Hardware</a> industry, NTAP is ranked #8 out of 38 stocks.
Beyond what I have stated above, we have also given NTAP grades for Sentiment, Value, Stability, and Momentum. Get all NTAP ratings <a href="https://stocknews.com/stock/NTAP/">here</a>.
Bottom Line
NTAP concluded fiscal year 2024 on a solid note, achieving company records in annual gross margin, operating margin, EPS, operating cash flow, and free cash flow, establishing positive business momentum. Further, analysts appear bullish about the company's prospects, driven by solid demand for innovative solutions, strategic initiatives, and management competence.
NTAP's stock is currently trading above its 50-day and 20-day moving averages of $111.88 and $92.73, respectively, indicating an uptrend.
Given NetApp's robust financial performance, accelerating profitability, reliable dividends, and bright growth outlook, investing in this stock for long-term gains seems wise now.
How Does NetApp, Inc. (NTAP) Stack Up Against Its Peers?
While NTAP has an overall POWR Rating of B, investors could also check out these other stocks within the B-rated <a href="https://stocknews.com/category/technology-hardware/">Technology-Hardware</a> industry with an A (Strong Buy) rating: Seiko Epson Corporation (<a href="https://stocknews.com/stock/SEKEY/">SEKEY</a>), SigmaTron International, Inc. (<a href="https://stocknews.com/stock/SGMA/">SGMA</a>) and Lantronix, Inc. (<a href="https://stocknews.com/stock/LTRX/">LTRX</a>).
For exploring more A and B-rated tech hardware stocks, <a href="https://stocknews.com/category/technology-hardware/">click here</a>.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with a trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
NTAP shares were unchanged in premarket trading Monday. Year-to-date, NTAP has gained 46.31%, versus a 14.91% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Mangeet Kaur Bouns</h2> <img src='https:/wp-content/uploads/2022/01/Mangeet-Kaur-Bouns_Image-4.jpg' style="float:left; padding:5px;width:125px;">Mangeet's keen interest in the stock market led her to become an investment researcher and financial journalist. Using her fundamental approach to analyzing stocks, Mangeet's looks to help retail investors understand the underlying factors before making investment decisions.<a href="https://stocknews.com/authors/?author=mangeet-kaurbouns">More...</a>The post <a href=https://stocknews.com/news/ntap-lnvgy-sekey-ltrx-sgma-should-you-invest-in-netapp-for-long-term-gains/>Should You Invest in NetApp for Long-Term Gains?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Should You Invest in NetApp for Long-Term Gains?

As the economy rebounds from tight monetary policies, small caps are poised to benefit from the cyclical upturn due to their greater sensitivity to economic conditions than large caps. Thus, it could be wise to invest in these three undervalued small-cap stocks: LifeVantage Corp. (LFVN), Hudson Global (HSON), and SigmaTron International (SGMA) before they take off. Read more... Investing in small-cap companies can be both exhilarating and daunting. These smaller companies, typically with market capitalizations between $300 million and $2 billion, have the potential to soar or stumble, making them high-risk, high-reward investments. For those with a keen eye and a bit of courage, the payoff can be significant if the company experiences massive growth.
In this context, I have highlighted three fundamentally sound small-cap stocks, LifeVantage Corporation (<a href="https://stocknews.com/stock/LFVN/">LFVN</a>), Hudson Global, Inc. (<a href="https://stocknews.com/stock/HSON/">HSON</a>), and SigmaTron International, Inc. (<a href="https://stocknews.com/stock/SGMA/">SGMA</a>). These companies are currently trading at a discount to their peers, making them attractive picks for investors looking to capitalize on undervalued opportunities.
The global economy is on an upswing, with the World Bank recently upgrading its growth forecast to <a href="https://www.marketwatch.com/story/u-s-growth-is-exceptional-world-bank-sees-america-fueling-the-global-economy-in-2024-0227945c">2.6% for this year</a>, buoyed by robust performance in the United States. The bank's latest outlook marks an increase from the 2.4% growth for 2024 predicted in January. This positive economic backdrop makes now an excellent time to consider small-cap stocks.
<a href="https://www.investopedia.com/terms/s/small-cap.asp">Small-cap stocks</a>, with market capitalizations between $300 million and $2 billion, often present growth prospects that larger companies cannot match. As the economy recovers from a Fed-induced slowdown, small-cap companies are well-positioned to benefit from increased consumer spending and business activity.
Historically, lower interest rates and accommodative monetary policies have bolstered small-cap stocks, and with potential rate cuts on the horizon, the investment landscape looks promising. Over the past 35 years, <a href="https://www.visualcapitalist.com/sp/beyond-big-names-the-case-for-small-and-mid-cap-stocks/#:~:text=Over%20the%20last%2035%20years,%2B3%2C176%25%20for%20mid%20caps.">small- and mid-cap stocks have consistently outperformed</a> their larger counterparts.
According to Yahoo Finance, from February 1989 to February 2024, large-cap stocks returned 1,664%, while small-caps and mid-caps boasted returns of 2,062% and 3,176%, respectively. This historical outperformance underscores the potential of small-cap investments, particularly in the current economic climate.
Given these favorable trends, let's take a look at the fundamentals of the stocks mentioned above.
LifeVantage Corporation (<a href="https://stocknews.com/stock/LFVN/">LFVN</a>)
LFVN engages in identifying, researching, developing, formulating, selling, and distributing nutrigenomic activators, dietary supplements, nootropics, pre- and pro-biotics, weight management, skin and hair care products, bath and body, and targeted relief products. It has a market cap of $80.20 million.
On March 15, the company paid its shareholders a quarterly dividend of $0.04 per share. The company pays an annual dividend of $0.16, which translates to a 2.54% yield higher than the four-year average yield of 2.38%.
In February, LFVN expanded its LV360 initiative into Canada, Mexico, and several European markets, including the United Kingdom, Ireland, Germany, Austria, Belgium, Spain, and the Netherlands. The Evolve Compensation Plan and Rewards Circle program, effective February 1, offers Independent Consultants diverse income streams and team-building opportunities.
This expansion follows a successful launch in the United States, Australia, New Zealand, and Japan last March. LFVN aims to stay competitive in the direct selling market by leveraging consumer and gig trends to attract a growing customer base.
In terms of forward non-GAAP P/E, LFVN is trading at 9.68x, 43% lower than the industry average of 16.98x. Likewise, the stock's forward EV/Sales and Price/Sales multiples of 0.38 and 0.40 are 77.9% and 67.2% lower than their respective industry averages of 1.70 and 1.21.
LFVN's trailing-12-month gross profit margin of 79.32% is 124.8% higher than the 35.29% industry average. Likewise, its trailing-12-month levered FCF margin and ROTA of 6.93% and 5.87% are 21.7% and 24.9% higher than the respective industry averages of 5.70% and 4.70%.
In the second quarter, which ended December 31, 2023, LFVN reported revenue and gross profit of $51.62 million and $40.56 million, respectively. The company's non-GAAP net income and adjusted EPS amounted to $ 1.37 million and $0.10 compared to the prior year's losses of $823 thousand and $0.07 per share, respectively. Also, its adjusted EBITDA improved by 289% from the year-ago value to $3.09 million.
For the fiscal first quarter ending September 2024, LFVN's revenue is expected to amount to $49.63 million, while its EPS is forecasted to settle at $0.16. Further, its EPS and revenue are expected to rise 7.7% and 1.8% year-over-year to $0.70 and $205.84 million, respectively, in the fiscal year ending June 2025. Moreover, it topped the consensus EPS estimates in three of the trailing four quarters.
The stock has gained 52.8% over the past year to close the last trading session at $6.29.
LFVN's strong fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of A, equating to a Strong Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted optimally.
It has an A grade for Value, Sentiment, and Quality. It is ranked #2 out of 10 stocks in the A-rated <a href="https://stocknews.com/category/medical-consumer-goods/">Medical – Consumer Goods</a> industry. To see additional LFVN ratings for Growth, Momentum, and Stability, <a href="https://stocknews.com/stock/LFVN/">click here</a>.
Hudson Global, Inc. (<a href="https://stocknews.com/stock/HSON/">HSON</a>)
With a market cap of $46.97 million, HSON provides talent solutions for mid-to-large-cap multinational companies and government agencies under the Hudson RPO brand in the Americas, the Asia Pacific, and Europe. It offers recruitment process outsourcing (RPO) services and RPO contracting services.
On March 12, HSON announced the acquisition of Executive Solutions, a talent solutions company based in Dubai. This acquisition provides the company access to the large and rapidly growing United Arab Emirates (UAE) market.
Jeff Eberwein, CEO of Hudson Global, said, "The acquisition of Executive Solutions further expands our global footprint and client base and brings significant value to our shareholders. We are excited to expand our footprint in the Middle East market and participate in the significant growth opportunities this region has to offer as we continue to execute our strategy of global expansion through organic and inorganic growth."
In terms of forward EV/Sales, HSON is trading at 0.16x, 90.8% lower than the industry average of 1.74x. Likewise, the stock's forward Price/Sales and Price/Cash Flow multiples of 0.28 and 8.33 are 80.1% and 35.6% below their respective industry averages of 1.41 and 12.93.
Moreover, the stock's trailing-12-month asset turnover ratio of 2.44x is 212.9% higher than the 0.78x industry average.
HSON's revenue for the first quarter that ended March 31, 2024, came in at $33.89 million. Its total operating expenses decreased 14.2% year-over-year to $36.93 million. Additionally, the company used $1.80 million in cash flow from operations during the first quarter, compared to an outflow of $5 million in the same period last year. As of March 31, 2024, its cash and cash equivalents stood at $20.41 million.
Analysts expect HSON's EPS for the third quarter ending September 2024, to increase 16.7% year-over-year to $0.28. Its revenue for the current quarter is expected to grow 15.2% year-over-year to $45.38 million.
Over the past month, the stock has gained 3.2% to close the last trading session at $15.74.
It's no surprise that HSON has an overall rating of A, which translates to a Strong Buy in our POWR Ratings system.
It has an A grade for Value and Sentiment and a B for Quality. It is ranked first in the A-rated <a href="https://stocknews.com/category/outsourcing-staffing-services/">Outsourcing – Staffing Services</a> industry. <a href="https://stocknews.com/stock/HSON/">Click here</a> to see the other HSON ratings for Growth, Momentum, and Stability.
SigmaTron International, Inc. (<a href="https://stocknews.com/stock/SGMA/">SGMA</a>)
SGMA provides a range of electronic manufacturing services (EMS), specializing in printed circuit board assemblies, electro-mechanical subassemblies, and fully assembled electronic products. Additionally, the company offers comprehensive support services, including assembly and testing, material sourcing, engineering support, design, warehousing, distribution, compliance reporting, and regulatory approval assistance. It has a market cap of $34.37 million.
In terms of trailing-12-month non-GAAP P/E, SGMA is trading at 5.64x, which is 81.1% lower than the industry average of 29.81x. The stock's trailing-12-month EV/EBITDA of 5.37x is 71.1% lower than the industry average of 18.57x. Also, its trailing-12-month EV/Sales multiple of 0.32 compares to the industry average of 3.13.
SGMA's trailing-12-month ROCE and ROTC of 8.96% and 6.22% are 109.8% and 130.2% higher than the respective industry averages of 4.27% and 2.70%. Likewise, its 1.54x trailing-12-month asset turnover ratio is 147.5% higher than the 0.62x industry average.
SGMA's net sales for the third quarter, which ended on January 31, 2024, increased 3.4% year-over-year to $95.92 million. Its net income amounted to $599.01 thousand and $0.10 per share compared to the prior-year quarter's loss of $23.08 million and $3.81 per share. The company's net cash inflow from operating activities stood at $16.84 million, compared to an outflow of $27.65 million in the same period last year.
Shares of SGMA have gained 74.5% over the past year and 87.9% year-to-date to close the last trading session at $5.66.
SGMA's POWR Ratings reflect its solid prospects. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
It has an A grade for Growth and Value and a B for Momentum, Sentiment, and Quality. SGMA is ranked first out of 38 stocks in the B-rated <a href="https://stocknews.com/category/technology-hardware/">Technology - Hardware</a> industry. In addition to the POWR Ratings highlighted above, one can access SGMA's Stability rating <a href="https://stocknews.com/stock/SGMA/">here</a>.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>
 

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LFVN shares were trading at $6.32 per share on Tuesday afternoon, up $0.03 (+0.48%). Year-to-date, LFVN has gained 6.42%, versus a 15.97% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/lfvn-hson-sgma-3-undervalued-small-cap-stocks-to-buy-before-they-take-off/>3 Undervalued Small-Cap Stocks to Buy Before They Take Off</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Undervalued Small-Cap Stocks to Buy Before They Take Off

Sigmatron International (SGMA) has provided an update. SigmaTron International has announced the appointment of John P. Sheehan as a Class I Direct...

SigmaTron International Names John Sheehan as Class I Director

Corsair Gaming (CRSR) has been navigating rough waters in the gaming hardware market, as evidenced by its first-quarter earnings report. With the stock tumbling more than 40% over the past year, questions linger about its ability to capitalize on the growing esports and gaming markets. Should you consider adding this stock to your portfolio? Read more to find out…. Video game hardware and peripherals maker Corsair Gaming, Inc. (<a href="https://stocknews.com/stock/CRSR/">CRSR</a>) reported its first-quarter earnings on May 7, 2024, which fell short of Wall Street's expectations. Over the past year, CRSR's stock has taken a nosedive, plunging more than 40%. With consumers scaling back on physical goods purchases and opting for more outdoor activities, it's no surprise that a gaming hardware company like Corsair is feeling the pinch.
In the first quarter, the company reported revenue of $337.26 million, nearly 7% below the analysts' estimate of $362.77 million. Similarly, its quarterly earnings of $0.09 per share fell short of the analyst's estimate of $0.14 per share. Moreover, the company has not been able to beat consensus EPS estimates over the last trailing three quarters, including the first quarter.
CRSR saw its net revenue drop to $337.30 million in Q1 2024, down from $417.30 million in the fourth quarter and $354 million in the first quarter last year. Despite this decline, the company's Gamer and Creator Peripherals segment showed resilience with a strong 20.3% year-over-year revenue growth. This growth was fueled by the success of new products, which not only gained market share but also expanded margins.
During the March quarter, CRSR's gross margin improved by 110 basis points to 25.7% from the last quarter, driven by a substantial 360 basis points sequential increase to 40.8% in the Gamer and Creator Peripherals segment. However, Corsair faced headwinds from increased freight costs due to disruptions in the Red Sea, necessitating additional air shipments.
Despite these logistical challenges, the company remains optimistic about its prospects for the year ahead, forecasting net revenue in the range of $1.45 billion to $1.60 billion. It also anticipates adjusted operating income between $92 million to $112 million and adjusted EBITDA between $105 million to $125 million, signaling a path toward recovery and growth.
Shares of CRSR have plunged 23.1% over the past six months and 26.5% year-to-date to close the last trading session at $10.37.
Let's look at factors that could influence CRSR's performance in the upcoming months.
Poor Financial Performance
For the first quarter that ended March 31, 2024, CRSR's net revenue decreased 4.7% year-over-year to $337.26 million, with a 13.1% year-over-year fall in revenues from Gaming Components and Systems.
However, Corsair's adjusted operating income amounted to $15.39 million, reflecting a 15.2% decline from the previous year's quarter. Its adjusted <a href="https://www.investopedia.com/terms/n/netincome.asp">net income</a> decreased 20.2% year-over-year to $9.52 million. Also, its non-GAAP net income per share attributable to shareholders came in at $0.09, down 18.2% year-over-year.
The company's adjusted EBITDA for the quarter was $18.02 million, indicating a 12.4% decline from the prior year's period. Also, CRSR's cash outflow from operating activities amounted to $26.32 million versus a cash inflow of $41.83 million in the same period last year.
As of March 31, 2024, Corsair's cash and restricted cash stood at $129.94 million, compared to $178.33 million as of December 31, 2023.
Mixed Analyst Expectations
Analysts expect CRSR's EPS for the second quarter (ended June 2024) to increase 2.9% year-over-year to $0.09. However, the consensus revenue estimate of $319.98 million for the same period indicates a 1.7% year-over-year decline.
For the fiscal year ending December 2024, Street expects CRSR's revenue and EPS to grow 2.8% and 25.8% from the prior year to $1.50 billion and $0.69, respectively. In addition, the company's revenue and EPS for the fiscal year 2025 are expected to increase 10.2% and 30.9% year-over-year to $1.65 billion and $0.91, respectively.
Discounted Valuation
In terms of forward non-GAAP P/E, CRSR is trading at 14.99x, which is 38.6% lower than the industry average of 24.41x. Similarly, the stock's forward EV/Sales and EV/EBIT multiples of 0.80 and 11.77 are 72.6% and 43.4% lower than the respective industry averages of 2.93x and 20.78x. Additionally, the stock's 1.59x forward Price/Book is 61.1% below the industry average of 4.09x.
POWR Ratings Reflect Uncertainty
CRSR's mixed fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of C, which translates to Neutral in our proprietary rating system. The POWR Ratings are calculated by taking into account 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. CRSR has a B grade in Value, which aligns with its lower-than-industry valuation. However, with a five-year beta of 1.59, the stock has earned a grade C for Stability. It also has a C grade for Sentiment, consistent with mixed analyst estimates.
CRSR is ranked #25 out of 38 stocks within the B-rated <a href="https://stocknews.com/category/technology-hardware/">Technology - Hardware</a> industry.
Beyond what I have stated above, we have also given CRSR grades for Growth, Momentum, and Quality. Get all CRSR ratings <a href="https://stocknews.com/stock/CRSR/">here</a>.
Bottom Line
Corsair Gaming's recent financial struggles reflect broader challenges in the gaming hardware industry amidst shifting consumer behavior. As people increasingly venture out and remain cautious due to sticky inflation, discretionary spending on gaming peripherals and hardware has taken a hit. This contrasts sharply with the pandemic era when homebound consumers bolstered demand for such products.
While many investors may find CRSR's current valuation enticing, especially gaming enthusiasts looking for potential bargains, the company faces significant headwinds that could impede its recovery. Despite trading at a discount compared to its peers, with shares down 42% over the past year, the company's recent financial performance has fallen short of expectations, raising concerns even among gaming enthusiasts.
As investors weigh the company's potential against its recent financial performance, investing in Corsair Gaming hinges on its ability to navigate these challenges and leverage its strengths in a rapidly evolving industry. Given this backdrop, waiting for a better entry point in this stock seems wise now.
How Does Corsair Gaming, Inc. (CRSR) Stack Up Against Its Peers?
While CRSR has an overall grade of C, equating to a Neutral rating, you may check out these A (Strong Buy) rated stocks within the <a href="https://stocknews.com/category/technology-hardware/">Technology - Hardware</a> industry: SigmaTron International, Inc. (<a href="https://stocknews.com/stock/SGMA/">SGMA</a>), Lantronix, Inc. (<a href="https://stocknews.com/stock/LTRX/">LTRX</a>), and AstroNova, Inc. (<a href="https://stocknews.com/stock/ALOT/">ALOT</a>). To explore more technology hardware stocks, <a href="https://stocknews.com/category/technology-hardware/">click here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>
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CRSR shares were trading at $10.37 per share on Thursday afternoon, up $0.05 (+0.48%). Year-to-date, CRSR has declined -26.45%, versus a 16.76% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/crsr-sgma-ltrx-alot-should-you-buy-corsair-gaming-for-e-sports-enthusiasm/>Should You Buy Corsair Gaming for E-Sports Enthusiasm?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Should You Buy Corsair Gaming for E-Sports Enthusiasm?

SigmaTron International receives Nasdaq notice regarding late Form 10-K filing

SigmaTron International GAAP EPS of -$0.55, revenue of $81.14M

SigmaTron International regains compliance with Nasdaq

SigmaTron International GAAP EPS of -$0.54, revenue of $84.8M

The latest update is out from Sigmatron International ( ($SGMA) ). SigmaTron International, Inc., a NASDAQ-listed electronic manufacturing services...

SigmaTron International Appoints New CFO Frank Cesario

SigmaTron International GAAP EPS of -$1.55, revenue of $74.72M

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Press Releases

SigmaTron International, Inc. Reports Financial Results for the Third Quarter of Fiscal 2024

SigmaTron International, Inc. Receives Nasdaq Notice Regarding Late Form 10-K Filing

SigmaTron International, Inc. Reports Financial Results for Fiscal 2024

SigmaTron International, Inc. Regains Compliance with Nasdaq Listing Rule 5250(c)(1)

Sigmatron International, Inc. Reports First Quarter Financial Results For Fiscal 2025

SigmaTron International, Inc. Reports Financial Results For the Second Quarter of Fiscal 2025

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