Upcoming Earnings for Monday, August 14, 2023
The stock market is always full of surprises and opportunities, especially during the earnings season. Investors and traders are eager to find out how their favorite companies performed in the past quarter and what their outlook is for the future.
GP - GreenPower Motor Company Inc.
Consensus EPS: -$0.12
Basic Information: GP is a Canadian company that designs, manufactures, and distributes electric vehicles, including buses, cargo vans, and trucks. The company aims to provide cost-effective and environmentally friendly transportation solutions for various markets and applications.
Detailed Summary Technical analysis: GP has been in a downtrend since reaching its all-time high of $6.05 in March 2023. The stock has been trading below its 50-day and 200-day moving averages, indicating bearish momentum. The relative strength index (RSI) is near the oversold level of 30, suggesting that the stock may be due for a bounce or a consolidation. The MACD histogram is negative and below the signal line, confirming the downward pressure. The stock faces resistance at $4.04, which is the 23.6% Fibonacci retracement level of the decline from $6.05 to $3.79. A break above this level could open the door for a recovery towards $4.55, which is the 38.2% Fibonacci retracement level. On the other hand, if the stock fails to hold above $3.79, which is the recent low and a psychological support level, it could slide further towards $3.50 or $3.00, which are previous support levels from January and December 2022.
Detailed Summary Fundamental analysis: GP’s earnings performance has been mixed in the past four quarters, with two beats and two misses. The company reported a loss of $0.14 per share in Q3 2023, matching the consensus estimate. The company’s revenue increased by 28% year-over-year to $12.77 million, driven by higher sales of its EV Star and EV Star Plus models. The company also delivered its first EV Star CC model to NASA in Q3 2023. However, the company’s operating expenses increased by 39% year-over-year to $13.07 million, mainly due to higher research and development costs and general and administrative expenses. The company’s net loss widened by 7% year-over-year to $12.93 million. For Q4 2023, analysts expect GP to report a loss of $0.12 per share on revenue of $18.86 million, representing a year-over-year improvement of 52% and 157%, respectively. The company’s guidance for Q4 2023 is a revenue range of $18 million to $20 million and an adjusted EBITDA loss of $2 million to $4 million. The company expects to benefit from increased demand for its products in various markets, such as school transportation, airport shuttle services, paratransit services, and last-mile delivery services. The company also expects to launch its new EV250 model in Q4 2023, which is a medium-duty truck with a range of up to 250 miles on a single charge.
Detailed Summary Outlook: GP’s outlook for fiscal year 2024 is optimistic, as the company expects to achieve revenue growth of over 100% and positive adjusted EBITDA. The company also expects to increase its production capacity from 1,000 units per year to 5,000 units per year by the end of fiscal year 2024. The company believes that it has a competitive advantage in the electric vehicle market due to its proprietary technology, diversified product portfolio, strong customer relationships, and experienced management team. The company also expects to benefit from favorable regulatory and environmental trends that support the adoption of electric vehicles globally.
Educational Prediction: Based on our technical and fundamental analysis, we believe that GP has a chance to beat the consensus estimate for Q4 2023, as the company may report higher-than-expected revenue growth due to strong demand for its products in various markets. However, we also acknowledge that the stock faces significant downside risks due to its high operating expenses, negative cash flow, and competitive pressures from other electric vehicle manufacturers. Therefore, we advise investors to be cautious and use proper risk management techniques when trading GP around its earnings report.
HUT - Hut 8 Mining Corp.
Consensus EPS: -$0.05
Basic Information: HUT is a Canadian company that engages in cryptocurrency mining, primarily Bitcoin. The company operates several data centers that use specialized hardware and software to solve complex mathematical problems and validate transactions on the Bitcoin network. The company earns rewards in the form of newly minted Bitcoins and transaction fees for its mining activities.
Detailed Summary Technical analysis: HUT has been in an uptrend since reaching its 52-week low of $0.78 in July 2023. The stock has been trading above its 50-day and 200-day moving averages, indicating bullish momentum. The RSI is near the overbought level of 70, suggesting that the stock may be overextended or due for a pullback. The MACD histogram is positive and above the signal line, confirming the upward pressure. The stock faces resistance at $3.00, which is a round number and a psychological barrier. A break above this level could open the door for a rally towards $3.50 or $4.00, which are previous resistance levels from April and March 2023. On the other hand, if the stock fails to sustain above $3.00, it could retrace towards $2.50 or $2.00, which are previous support levels from August and July 2023.
Detailed Summary Fundamental analysis: HUT’s earnings performance has been volatile in the past four quarters, with two beats and two misses. The company reported earnings of $0.51 per share in Q1 2023, beating the consensus estimate of -$0.16 per share. The company’s revenue increased by 772% year-over-year to $19.02 million, driven by higher Bitcoin prices and mining volumes. The company also achieved positive net income of $34.02 million and positive adjusted EBITDA of $37.15 million in Q1 2023, compared to net losses of $8.44 million and $5.18 million, respectively, in Q1 2022. However, the company’s operating expenses increased by 165% year-over-year to $14.99 million, mainly due to higher depreciation and amortization costs and general and administrative expenses. For Q2 2023, analysts expect HUT to report a loss of $0.05 per share on revenue of $18.15 million, representing a year-over-year decline of 90% and 2%, respectively. The company’s guidance for Q2 2023 is a revenue range of $18 million to $20 million and an adjusted EBITDA range of -$2 million to -$4 million. The company expects to face challenges in Q2 2023 due to lower Bitcoin prices, higher network difficulty, and increased competition from other miners. The company also expects to incur higher operating costs due to its expansion plans and strategic initiatives.
Detailed Summary Outlook: HUT’s outlook for the second half of 2023 is positive, as the company expects to benefit from its recent acquisitions of AllCell Technologies and Blockstream Mining Corp., which will enhance its energy storage and mining capabilities, respectively. The company also expects to increase its Bitcoin production from 1,000 units per month to 5,000 units per month by the end of 2023, as it deploys more efficient and powerful mining equipment. The company believes that it has a competitive advantage in the cryptocurrency mining industry due to its low-cost and renewable energy sources, diversified revenue streams, strong balance sheet, and experienced management team. The company also expects to benefit from favorable market trends that support the adoption and demand for Bitcoin and other cryptocurrencies globally.
Educational Prediction: Based on our technical and fundamental analysis, we believe that HUT has a chance to miss the consensus estimate for Q2 2023, as the company may report lower-than-expected revenue and earnings due to lower Bitcoin prices, higher network difficulty, and increased competition from other miners in Q2 2023. However, we also acknowledge that the stock has strong upside potential due to its recent acquisitions, expansion plans, and positive outlook for the second half of 2023. Therefore, we advise investors to be optimistic but cautious when trading HUT around its earnings report.
BTAI - BioXcel Therapeutics Inc.
Consensus EPS: -$0.48
Basic Information: BTAI is a biopharmaceutical company that uses artificial intelligence to develop innovative medicines for neuroscience and immuno-oncology indications. The company’s lead product candidates are BXCL501, an oral film formulation of dexmedetomidine for acute treatment of agitation in various neuropsychiatric disorders, and BXCL701, an oral small molecule immunomodulator for treatment of various cancers.
Detailed Summary Technical analysis: BTAI has been in a downtrend since reaching its 52-week high of $34.12 in February 2023. The stock has been trading below its 50-day and 200-day moving averages, indicating bearish momentum. The RSI is near the oversold level of 30, suggesting that the stock may be due for a bounce or a consolidation. The MACD histogram is negative and below the signal line, confirming the downward pressure. The stock faces resistance at $10.00, which is a round number and a psychological barrier. A break above this level could open the door for a recovery towards $12.00 or $14.00, which are previous support levels from May and April 2023. On the other hand, if the stock fails to hold above $8.00, which is the recent low and a key support level, it could slide further towards $6.00 or $4.00, which are previous support levels from December 2022 and October 2022.
Detailed Summary Fundamental analysis: BTAI’s earnings performance has been disappointing in the past four quarters, with four consecutive misses. The company reported a loss of $0.58 per share in Q1 2023, missing the consensus estimate of -$0.47 per share. The company’s revenue decreased by 97% year-over-year to $0.05 million, mainly due to lower collaboration revenue from its partnership with Nektar Therapeutics. The company’s operating expenses increased by 32% year-over-year to $22.66 million, mainly due to higher research and development costs and general and administrative expenses. The company’s net loss widened by 38% year-over-year to $22.61 million. For Q2 2023, analysts expect BTAI to report a loss of $0.48 per share on revenue of $0.05 million, representing a year-over-year improvement of 17% and no change, respectively. The company’s guidance for Q2 2023 is not available at this time.
Detailed Summary Outlook: BTAI’s outlook for the rest of 2023 is uncertain, as the company faces several regulatory and clinical milestones that could have a significant impact on its stock price and valuation. The company expects to submit a new drug application (NDA) for BXCL501 for acute treatment of agitation in schizophrenia and bipolar disorder in Q3 2023, based on positive results from its pivotal phase 3 trials (SERENITY I and II). The company also expects to report top-line results from its phase 3 trial (TRANQUILITY) of BXCL501 for acute treatment of agitation in geriatric dementia in Q4 2023, as well as interim results from its phase 1b/2 trial (RELEASE) of BXCL701 for treatment of advanced prostate cancer in Q4 2023. The company also plans to initiate several other clinical trials for BXCL501 and BXCL701 in various indications, such as opioid withdrawal symptoms, post-traumatic stress disorder, pancreatic cancer, and melanoma. The company believes that it has a competitive advantage in the biopharmaceutical industry due to its unique artificial intelligence platform, innovative product candidates, strong intellectual property portfolio, and experienced management team. The company also expects to benefit from favorable market trends that support the unmet medical needs and growing demand for effective treatments for neuropsychiatric disorders and cancers.
Educational Prediction: Based on our technical and fundamental analysis, we believe that BTAI has a chance to meet the consensus estimate for Q2 2023, as the company may report stable revenue and reduced losses due to lower operating costs and higher gross margins in Q2 2023. However, we also acknowledge that the stock has high volatility and uncertainty due to its dependence on regulatory and clinical outcomes for its lead product candidates in the second half of 2023. Therefore, we advise investors to be careful and use proper risk management techniques when trading BTAI around its earnings report.
GOEV - Canoo Inc.
Consensus EPS: -$0.28
Basic Information: GOEV is an American company that designs, develops, manufactures, and sells electric vehicles, including passenger vehicles, delivery vehicles, and adventure vehicles. The company also offers a subscription-based service that allows customers to access its vehicles on a monthly basis without any long-term commitment or upfront payment.
Detailed Summary Technical analysis: GOEV has been in a downtrend since reaching its 52-week high of $24.90 in December 2022. The stock has been trading below its 50-day and 200-day moving averages, indicating bearish momentum. The RSI is near the oversold level of 30, suggesting that the stock may be due for a bounce or a consolidation. The MACD histogram is negative and below the signal line, confirming the downward pressure. The stock faces resistance at $8.00, which is a round number and a psychological barrier. A break above this level could open the door for a recovery towards $10.00 or $12.00, which are previous support levels from June and May 2023. On the other hand, if the stock fails to hold above $6.00, which is the recent low and a key support level, it could slide further towards $4.00 or $2.00, which are previous support levels from November and October 2022.
Detailed Summary Fundamental analysis: GOEV’s earnings performance has been disappointing in the past four quarters, with four consecutive misses. The company reported a loss of $0.36 per share in Q1 2023, missing the consensus estimate of -$0.29 per share. The company’s revenue decreased by 100% year-over-year to $0.00 million, as the company did not generate any revenue from its subscription service or vehicle sales in Q1 2023. The company’s operating expenses increased by 69% year-over-year to $62.87 million, mainly due to higher research and development costs and general and administrative expenses. The company’s net loss widened by 71% year-over-year to $62.87 million. For Q2 2023, analysts expect GOEV to report a loss of $0.28 per share on revenue of $0.00 million, representing a year-over-year improvement of 22% and no change, respectively. The company’s guidance for Q2 2023 is not available at this time.
Detailed Summary Outlook: GOEV’s outlook for the rest of 2023 is optimistic, as the company expects to launch its first vehicle, the Lifestyle Vehicle, in Q4 2023, followed by the Delivery Vehicle in 2024 and the Adventure Vehicle in 2025. The company also expects to expand its subscription service to more markets and customers in the future, as well as explore other revenue streams, such as licensing its proprietary platform technology and software to other automakers and fleet operators. The company believes that it has a competitive advantage in the electric vehicle market due to its innovative design, flexible architecture, scalable production, and customer-centric approach. The company also expects to benefit from favorable regulatory and environmental trends that support the adoption of electric vehicles globally.
Educational Prediction: Based on our technical and fundamental analysis, we believe that GOEV has a chance to beat the consensus estimate for Q2 2023, as the company may report lower-than-expected losses due to lower operating costs and higher gross margins in Q2 2023. However, we also acknowledge that the stock faces significant downside risks due to its lack of revenue generation, negative cash flow, and competitive pressures from other electric vehicle manufacturers. Therefore, we advise investors to be cautious and use proper risk management techniques when trading GOEV around its earnings report.
BEEM - Beam Global
Consensus EPS: -$0.12
Basic Information: BEEM is an American company that provides renewable energy solutions for electric vehicle charging, outdoor media and branding, and energy security. The company’s flagship product is the EV ARC, a solar-powered and battery-backed electric vehicle charging station that can be deployed anywhere without any grid connection or installation.
Detailed Summary Technical analysis: BEEM has been in an uptrend since reaching its 52-week low of $9.50 in May 2023. The stock has been trading above its 50-day and 200-day moving averages, indicating bullish momentum. The RSI is near the overbought level of 70, suggesting that the stock may be overextended or due for a pullback. The MACD histogram is positive and above the signal line, confirming the upward pressure. The stock faces resistance at $20.00, which is a round number and a psychological barrier. A break above this level could open the door for a rally towards $25.00 or $30.00, which are previous resistance levels from March and February 2023. On the other hand, if the stock fails to sustain above $20.00, it could retrace towards $15.00 or $10.00, which are previous support levels from July and June 2023.
Detailed Summary Fundamental analysis: BEEM’s earnings performance has been mixed in the past four quarters, with two beats and two misses. The company reported earnings of $0.02 per share in Q1 2023, beating the consensus estimate of -$0.13 per share. The company’s revenue increased by 34% year-over-year to $4.35 million, driven by higher sales of its EV ARC products to various customers, such as government agencies, corporations, universities, and utilities. The company also achieved positive net income of $0.17 million and positive adjusted EBITDA of $0.32 million in Q1 2023, compared to net losses of $1.24 million and $0.97 million, respectively, in Q1 2022. However, the company’s operating expenses increased by 19% year-over-year to $4.18 million, mainly due to higher sales and marketing costs and general and administrative expenses. For Q2 2023, analysts expect BEEM to report a loss of $0.12 per share on revenue of $5.15 million, representing a year-over-year improvement of 19% and 18%, respectively. The company’s guidance for Q2 2023 is a revenue range of $5 million to $6 million and an adjusted EBITDA range of -$1 million to -$2 million. The company expects to grow its revenue and reduce its losses in Q2 2023 due to increased demand for its EV ARC products from various sectors, such as transportation, emergency response, security, and outdoor media.
Detailed Summary Outlook: BEEM’s outlook for the rest of 2023 is positive, as the company expects to launch its new products, such as the EV ARC 2020, the EV ARC DC Fast Charger, and the Solar Tree, which will offer more features and capabilities for its customers. The company also expects to expand its customer base and geographic reach in the US and internationally, as well as explore new partnerships and collaborations with other industry players. The company believes that it has a competitive advantage in the renewable energy market due to its innovative technology, patented design, scalable production, and customer-centric approach. The company also expects to benefit from favorable regulatory and environmental trends that support the adoption of electric vehicles and clean energy solutions globally.
Educational Prediction: Based on our technical and fundamental analysis, we believe that BEEM has a chance to beat the consensus estimate for Q2 2023, as the company may report higher-than-expected revenue and earnings due to increased sales of its EV ARC products to various customers in Q2 2023. However, we also acknowledge that the stock has high volatility and uncertainty due to its dependence on market conditions, customer preferences, and competitive pressures from other renewable energy providers. Therefore, we advise investors to be optimistic but cautious when trading BEEM around its earnings report.
Rumble Inc. (RUM)
Consensus EPS: -$0.12
Basic Information: Rumble is a video-sharing platform that allows users to upload, view, and monetize their content. Rumble competes with other platforms such as YouTube, Vimeo, and TikTok, but claims to offer more freedom of expression and better revenue sharing for creators. Rumble also operates a cloud-based video distribution network that enables publishers and broadcasters to stream live and on-demand video content.
Detailed Summary Technical analysis: RUM stock has been trading in a downtrend since its IPO in December 2022, when it debuted at $17.23 per share. The stock reached an all-time low of $5.81 in June 2023, before rebounding slightly to its current level of around $8.22. The stock is below its 50-day and 200-day moving averages, indicating a bearish sentiment among investors. The relative strength index (RSI) is at 42.76, suggesting that the stock is neither overbought nor oversold. The MACD histogram is negative, indicating a downward momentum.
Detailed Summary Fundamental analysis: Rumble has been growing its revenue steadily, but at the cost of increasing its net losses. In the first quarter of 2023, the company reported revenue of $17.62 million, up 38% year-over-year, but also posted a net loss of $11.40 million, or -$0.10 per share, missing analysts’ expectations of -$0.07 per share. The company attributed its higher expenses to investments in technology, content acquisition, and marketing. Rumble has also been involved in some legal disputes with Google over alleged antitrust violations and censorship issues.
Detailed Summary Outlook: Rumble expects to report revenue of $18.15 million for the second quarter of 2023, representing a 3% sequential increase and a 29% year-over-year increase. The company also expects to report a net loss of -$0.12 per share, in line with analysts’ consensus estimate. Rumble hopes to capitalize on its growing user base, which reached 31 million monthly active users in the first quarter, up 51% year-over-year. The company also plans to expand its video distribution network to more partners and regions, and to launch new features and products to enhance its platform.
Educational prediction: Based on the information above, it seems that Rumble is likely to meet its earnings expectations for the second quarter of 2023, but may not impress investors with its growth prospects or profitability. The stock may face some volatility around the earnings release, but may not see a significant change in its long-term trend.
Super League Gaming, Inc. (SLGG)
Consensus EPS: -$0.12
Basic Information: Super League Gaming is a leading publisher and creator of games and experiences across various immersive digital platforms. The company offers a range of development, distribution, monetization, and optimization capabilities for brands and IP owners who want to engage users in metaverse environments such as Roblox, Minecraft, Fortnite, Sandbox, and Decentraland. Super League Gaming also creates its own original experiences using advanced 3D creation tools and a network of top developers.
Detailed Summary Technical analysis: SLGG stock has been trading in a sideways pattern since its IPO in February 2019, when it debuted at $11 per share. The stock reached an all-time high of $10.94 in February 2021, but then declined sharply to an all-time low of $2.08 in May 2021. The stock has since recovered some of its losses and is currently trading at around $4.39 per share. The stock is above its 50-day moving average, but below its 200-day moving average, indicating a mixed sentiment among investors. The RSI is at 54.67, suggesting that the stock is neither overbought nor oversold. The MACD histogram is positive, indicating an upward momentum.
Detailed Summary Fundamental analysis: Super League Gaming has been growing its revenue rapidly, but also widening its net losses. In the first quarter of 2023, the company reported revenue of $7.12 million, up 224% year-over-year, but also posted a net loss of $12.97 million, or -$0.19 per share, beating analysts’ expectations of -$0.21 per share. The company attributed its higher revenue to the acquisition of Mobcrush, a live streaming and advertising platform, and the growth of its content creation and distribution business. The company also increased its operating expenses to support its expansion and innovation efforts.
Detailed Summary Outlook: Super League Gaming expects to report revenue of $8.15 million for the second quarter of 2023, representing a 14% sequential increase and a 51% year-over-year increase. The company also expects to report a net loss of -$0.12 per share, in line with analysts’ consensus estimate. Super League Gaming aims to leverage its position as a leader in the metaverse space, and to provide immersive solutions for brands and IP owners who want to reach massive audiences in digital worlds. The company also plans to launch new products and features, such as Super League Arena, a competitive gaming platform, and Super League Studios, a content production studio.
Educational prediction: Based on the information above, it seems that Super League Gaming is likely to meet its earnings expectations for the second quarter of 2023, but may surprise investors with its revenue growth and innovation potential. The stock may see some positive momentum around the earnings release, but may also face some challenges in achieving profitability and scalability in the long run.
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