Pressure BioSciences Inc (OTCMKTS:PBIO) got a jolt of analyst optimism Friday as Zacks Small-Cap Research released a bullish note praising the firm’s recent sales. The firm tagged the company with a $4.44 price target — suggesting a 73% upside over Thursday’s closing price — based on demands for the company’s Ultra Shear Technology (UST). Shares ended Thursday at $2.56. In January, the company received an order for six of its CBD oil-processing UST machines, which analyst Elizabeth Senko valued in the $1.1-1.2 million range. “This order is notable for two reasons,” Senko wrote. “The contract covers half of PBIO’s planned UST sales for 2020, and the order comes from a single client. In addition, in our view, the order demonstrates how the lack of sales/marketing bandwidth may be holding back PBIO s overall sales growth. In late 2019, PBIO brought on someone to focus on UST sales, and clearly it appears to be paying off.”
Phunware Inc (NASDAQ:PHUN), the cloud platform provider for mobile devices, shared the results of a three-month initiative to boost mobile app downloads and improve user retention. The Phunware-led program led to a 101% increase in app store views, a 25% increase in app store conversions and a 5.3% increase in downloads, the Austin, Texas-based firm said Friday. Daily customer retention also showed healthy increases, rising 3% in the first month, 4% in the second month and 9% in the third month.
Roth Capital Partners has reiterated a Buy rating with a $1 price target on Great Panther Mining Limited (NYSEAMERICAN:GPL) (TSE:GPR), noting that the company strengthened its balance sheet to $21 million to drive exploration in 2020. “Given the company's recent cash infusion following concentrate pre-payment agreements, we believe Great Panther is well funded to execute on its exploration plans for 2020,” wrote analyst Jake Sekelsky in a note to investors.
Weekend Unlimited Industries Inc (CSE:POT) (OTCMKTS:WKULF) revealed Friday that the company's board has extended president and CEO Chris Backus’ contract for two years as the Vancouver-based recreational cannabis group continues to gain momentum and execute on its business plan. "Initially, Chris was brought on board as interim president and CEO with the task of bringing this company into alignment, developing assets that can grow and deliver results to shareholders, and doing so in a way that is sustainable and highly achievable in a rapidly changing sector," said Brian Keane, a director with Weekend Unlimited.
mCloud Technologies Corp (CVE:MCLD) said the TSX Venture Exchange has accepted for filing documentation with respect to its brokered and non-brokered private placement, announced on December 17, 2019, and January 14, 2020, which will see the issue of 3,332,875 special warrants - convertible into 1.1 units - at a purchase price of $4 per special warrant, with a warrant exercise price of $5.40 for a five-year period, with 313 placees. Each unit will consist of one common share and one-half of one common share purchase warrant.
Silvercorp Metals Inc (NSYEAMERICAN:SVM) (TSX:SVM) posted fiscal third-quarter results Friday that saw revenue leap 5% year-on-year, driven by encouraging results from exploration. For the fiscal third-quarter ended on December 31, 2019, the China-focused miner reported revenue which jumped 5% to $44.5 million, compared to the same period a year earlier.
Esports Entertainment Group Inc (OTCMKTS:GMBLD) announced after the close Thursday that the company underwent a 15:1 reverse stock split in late January, designed to boost its share price ahead of a potential application to list on the NASDAQ. After the split, the esports gaming and wagering company began trading under the temporary ticker symbol GMBLD on January 27. The ticker will revert to GMBL, 20 business days after that date.
Exro Technologies Inc (CSE:XRO) (OTCMKTS:EXROF) said Friday it has arranged a non-brokered private placement for gross proceeds of up to $3 million. In a statement, the Vancouver-based clean-motor manufacturer said it has issued up to 8,571,428 common shares at a price of $0.35 each. The offering is expected to close on or before February 20.
Perma-Fix Environmental Services Inc (NASDAQ:PESI) has added energy sector CEO and jack-of-all-trades executive Joseph Timothy Grumski to its board of directors. Grumski brings a wide breadth and depth of expertise to the board, the company said, with more than 30 years of executive experience spanning information technology, industrial, environmental, energy and government services.
RNC Minerals (TSE:RNX) has filed its NI 43-101 report based on its recent mineral reserve statement at the company’s Beta Hunt gold mine in Australia. The miner released a maiden gold reserve at Beta Hunt in December outlining a total gold reserve of 3.4 million tons at a grade of 2.8 grams per ton (g/t) gold for 310,000 ounces. Beta Hunt, located in Western Australia, is Toronto-based RNC’s flagship operation.
OTC Markets Group Inc. (OTCMKTS:OTCM) has welcomed Fire & Flower Holdings Corporation (TSX:FAF) (OTCMKTS:FFLWF), an independent adult-use cannabis retailer, to trading on the OTCQX Best Market, following the firm's move up from the Pink market. OTC Markets noted that upgrading to the OTCQX Market from the Pink Market is an important step for companies seeking to provide transparent trading for their US investors. It noted that Fire & Flower guides consumers through the complex world of cannabis through education-focused, best-in-class retailing while the HiFyre digital platform connects consumers with cannabis products.
TRACON Pharmaceuticals (NASDAQ:TCON), a clinical-stage biopharmaceutical company focused on the development and commercialization of novel targeted therapeutics for cancer, announced today that it has transferred its Nasdaq listing to the Nasdaq Capital Market and is in compliance with the stockholders’ equity standard to remain listed on the Nasdaq Capital Market.