Ultime notizie per Evolution Petroleum (AMEX:EPM) Azioni

Evolution Petroleum

Evolution Petroleum Corp is an independent oil and gas company operating in the United States. It is engaged predominantly in the acquisition, exploitation, and development of properties for the production of crude oil and natural gas, onshore in the United States. The company's revenues are generated from its crude oil, natural gas, and NGL production from the Jonah Field in Sublette County, Wyoming; the Williston Basin in North Dakota; the Barnett Shale located in North Texas; the Hamilton Dome Field in Wyoming; and the Delhi Field in Northeast Louisiana.

Evolution Petroleum Corporation, Inc. Common Stock

Evolution Petroleum Corp

Evolution Petroleum (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EPM#AMEX">EPM</a>) reported quarterly earnings of $0.02 per share which missed the analyst consensus estimate of $0.04 by 50 percent. The company reported quarterly sales of $21.896 million which missed the analyst consensus estimate of $22.038 million by 0.65 percent. This is a 6.29 percent increase over sales of $20.601 million the same period last year.

Earnings

Earnings Misses

News

Evolution Petroleum Q1 2025 Adj. EPS $0.02 Misses $0.04 Estimate, Sales $21.896M Miss $22.038M Estimate

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Avadel Pharmaceuticals plc - American Depositary Shares each representing one Ordinary Share

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The Beachbody Company, Inc. Class A Common Stock

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Earnings Scheduled For November 12, 2024

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Evolution Petroleum Corporation shares are trading higher. The company reported worse-than-expected Q4 earnings but said proved oil reserves increased by 20% YoY.

Evolution Petroleum Corporation Says Proved Oil Reserves Increased By 20% YoY

Evolution Petroleum (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EPM#AMEX">EPM</a>) reported quarterly earnings of $0.04 per share which missed the analyst consensus estimate of $0.05 by 20 percent. The company reported quarterly sales of $21.227 million which missed the analyst consensus estimate of $23.722 million by 10.52 percent. This is a 16.80 percent increase over sales of $18.174 million the same period last year.

Evolution Petroleum Q4 2024 GAAP EPS $0.04 Misses $0.05 Estimate, Sales $21.227M Miss $23.722M Estimate

Evolution Petroleum (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EPM#AMEX">EPM</a>) reported quarterly earnings of $0.03 per share which met the analyst consensus estimate. This is a 92.86 percent decrease over earnings of $0.42 per share from the same period last year. The company reported quarterly sales of $23.025 million which beat the analyst consensus estimate of $22.381 million by 2.88 percent. This is a 37.55 percent decrease over sales of $36.867 million the same period last year.

Earnings Beats

Evolution Petroleum Q3 2024  Adj EPS $0.03, Inline, Sales $23.025M Beat $22.381M Estimate

Roth MKM analyst John White maintains Evolution Petroleum (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EPM#AMEX">EPM</a>) with a Buy and maintains $8.25 price target.

Price Target

Analyst Ratings

Roth MKM Maintains Buy on Evolution Petroleum, Maintains $8.25 Price Target

Evolution Petroleum (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EPM#AMEX">EPM</a>) reported its Q2 earnings results on Tuesday, February 6, 2024 at 04:10 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Evolution Petroleum missed estimated earnings by 66.67%, reporting an EPS of $0.03 versus an estimate of $0.09.
Revenue was down $12.65 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company missed on EPS by $0.03 which was followed by a 5.65% drop in the share price the next day.
Here's a look at Evolution Petroleum's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.07</td>
<td>0.06</td>
<td>0.16</td>
<td>0.25</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.04</td>
<td>0</td>
<td>0.42</td>
<td>0.28</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>21.58M</td>
<td>21.64M</td>
<td>28.68M</td>
<td>33.03M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>20.60M</td>
<td>18.17M</td>
<td>36.87M</td>
<td>33.68M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Evolution Petroleum <a href="https://www.benzinga.com/quote/EPM/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Evolution Petroleum: Q2 Earnings Insights

Evolution Petroleum (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EPM#AMEX">EPM</a>) reported quarterly earnings of $0.03 per share which missed the analyst consensus estimate of $0.09 by 66.67 percent. This is a 89.29 percent decrease over earnings of $0.28 per share from the same period last year. The company reported quarterly sales of $21.02 million which missed the analyst consensus estimate of $22.77 million by 7.67 percent. This is a 37.57 percent decrease over sales of $33.68 million the same period last year.

Evolution Petroleum Q2 Adj EPS $0.03 Misses $0.09 Estimate, Sales $21.02M Miss $22.77M Estimate

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Earnings Scheduled For February 6, 2024

Evolution Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPM#NYSE">EPM</a>) ("Evolution" or the "Company") announced today that it has entered into definitive agreements to acquire non-operated oil and natural gas assets in the SCOOP and STACK plays in central Oklahoma (the "Acquisitions") from Red Sky Resources III, LLC, Red Sky Resources IV, LLC, and Coriolis Energy Partners I, LLC. The combined purchase price of the Acquisitions is $43.5 million in cash, subject to customary closing adjustments, with an effective date of November 1, 2023, and an expected closing date in mid-February during the Company's third quarter of fiscal 2024. Evolution expects to fund the acquisition with cash on hand and borrowings from EPM's revolving credit facility. &nbsp;
Acquisition Highlights
<ul>
<li>Production of approximately 1,550 barrels of oil equivalent per day ("BOEPD") and commodity mix of 42% oil, 15% natural gas liquids, and 43% natural gas as of the effective date.</li>
<li>Approximately 230 producing wells (average working interest of ~3%) in the SCOOP and STACK plays of the Anadarko Basin in Blaine, Canadian, Carter, Custer, Dewey, Garvin, Grady, Kingfisher, McClain, and Stephens counties, Oklahoma.</li>
<li>Significant upside associated with approximately 3,700 net acres in the SCOOP and STACK plays with more than 300 gross undeveloped locations, with an average working interest of approximately 3%.</li>
<li>Highly accretive to key valuation metrics, including TEV/EBITDA, EPS, and CFPS.</li>
<li>Acquisitions and associated development drilling expected to be self-funding and generate incremental cash flow to further support the Company's quarterly dividend while adding minimal additional overhead.</li>
<li>As of the effective date, there were 22 gross wells in process, 21 of which were drilled but uncompleted ("DUC") to be paid through completion by the Seller. As of today, 13 of these DUCs have been completed and are producing.</li>
<li>Assets managed by best-in-class operators, including Continental, Ovintiv, EOG, Marathon, and Gulfport. &nbsp;</li>
</ul>
Management Comments
Kelly Loyd, President and Chief Executive Officer, commented, "We are pleased to announce these Acquisitions, which together equal the largest transaction in Evolution's history. This is a significant achievement for our Company and demonstrates our ability to successfully procure high-quality assets in a core basin with best-in-class operating parties. The strategic addition of these non-operated assets to our increasingly diversified portfolio is a testament to our prudence in growing our business for the long-term benefit of our shareholders. The asset's high-quality, proved developed producing base ("PDP") and long-dated inventory have the potential to generate significant free cash flow, contribute to higher per-share profits, and extend and potentially enhance our dividend capacity. Evolution has a proven track record of executing its strategy of buying long-life production based on current commodity pricing during the downswings with the potential for significant upside associated with an upswing in the commodity price cycle."
Mr. Loyd continued, "In addition to the roughly 1,550 BOEPD of production, these transactions further our strategy of "making acquisitions through the drill bit" which was emphasized in our Permian drilling partnership in Chaveroo. We view this as crucial to enhancing our ability to accretively maintain or increase production at an attractive rate of return outside of making acquisitions. Importantly, these Acquisitions are more than self-funding, meaning they are expected to generate sufficient free cash flow to both participate in future wells and to contribute excess free cash flow back to the Company to be used for dividends, debt repayment, and other corporate uses."
Mr. Loyd added, "These Acquisitions continue our strategy to diversify our asset base within targeted areas and give us exposure to another world-class producing basin with ample takeaway and processing infrastructure and well-established end sales markets. They also greatly diversify our portfolio classification by adding not just PDP wells but also low working interest exposure to more than 300 gross, high-quality undeveloped locations. We are excited about the potential of these Acquisitions and the opportunities they present for our continued growth and success."
Transaction Consideration and Capital Available
Evolution expects to fund the transactions from cash on hand and borrowings from the Company's senior credit facility with MidFirst Bank. As of December 31, 2023, and prior to the transaction, the Company had approximately $8 million in cash on hand and had no outstanding borrowings under the credit facility. The Company estimates that net debt after giving effect to the Transaction will be within the Company's targeted leverage ratio of one-times pro forma Adjusted EBITDA1.

Evolution Petroleum Announces Acquisition Of Non-operated Oil And Gas Assets; Combined Purchase Price Of The Acquisitions Is $43.5M

Evolution Petroleum (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EPM#AMEX">EPM</a>) reported quarterly earnings of $0.04 per share which missed the analyst consensus estimate of $0.07 by 42.86 percent. This is a 87.5 percent decrease over earnings of $0.32 per share from the same period last year. The company reported quarterly sales of $20.60 million which missed the analyst consensus estimate of $21.58 million by 4.54 percent. This is a 48.23 percent decrease over sales of $39.80 million the same period last year.

Evolution Petroleum Q1 Adj EPS $0.04 Misses $0.07 Estimate, Sales $20.60M Miss $21.58M Estimate

<h3>Overbought Oil&nbsp;</h3>
In yesterday&#39;s post (&quot;10 Things You Need To Know About The Oil Rally&quot;), The Market Ear <a href="https://www.zerohedge.com/the-market-ear/10-things-you-need-know-about-oil-rally">pointed out</a> that oil&#39;s RSI (Relative Strength Index) indicated the commodity was a bit overbought:&nbsp;
<blockquote>Let&#39;s start with a simplistic price momentum observation. Oil RSI is getting rather extreme, but as regular readers of TME know, overbought can stay overbought for longer than most think possible...
</blockquote>
TME included the chart below, which showed that oil&#39;s RSI was just over 79. Recall that RSI (Relative Strength Index) is a technical measure of whether a security or commodity is overbought or oversold, and values above 70 are often considered overbought, while values below 30 are often considered oversold.&nbsp;
<img alt="" src="https://www.benzinga.com/files/u181820/oil_rsi_0.png" style="height:421px; width:624px" />
The upshot of the chart above is that oil prices may stay higher for longer, but this probably isn&#39;t the best entry point to buy oil itself. But what if you could get a better entry point now for a bet on oil? That may be the case with the oil company below, Evolution Petroleum Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/epm#NYSE">EPM</a>).&nbsp;
<h3>An Oversold Oil Company</h3>
Here&#39;s a recent chart of EPM, showing its RSI was under 30 yesterday, well into oversold territory.&nbsp;
<img alt="" src="https://www.benzinga.com/files/u181820/epm_rsi.jpg" style="height:320px; width:624px" />
Aside from the oversold RSI, the most notable feature of that chart is big gap down in price last week. That was a result of the company&#39;s earnings miss (about which, more below). Before we get to why the stock dropped last week, let&#39;s look at what was attractive about the stock before last week&#39;s earnings. Here&#39;s what I wrote about Evolution Petroleum over the summer:&nbsp;
<blockquote>The COVID lockdown of 2020 was a real-life stress test for the oil industry. With much of the economy shut down and most office workers working from home, road traffic plummeted, and oil prices crashed.
<img alt="" src="https://www.benzinga.com/files/u181820/oil_crash_chart.png" style="height:421px; width:624px" />
The company we&rsquo;re betting on today passed that test with flying colors: not only did it generate positive earnings in 2020, but it kept paying dividends (albeit, at a reduced amount) throughout the crash.
Today, its fundamentals are excellent.
It has a&nbsp;<a href="https://www.jstor.org/stable/2672906?origin=crossref" rel="">Piotroski F-Score</a>&nbsp;of 8 (on a scale of 1-9, where 9 is best), and&nbsp;<a href="https://www.chartmill.com/stock/stock-screener?v=1&amp;s=pt&amp;f=p_pg5,sl_ta_8_X,sl_val_5_X,sl_pr_8_X,sl_he_8_X,sl_pio_7_X,exch_us&amp;sd=ASC&amp;a=221937" rel="">Chartmill</a>&nbsp;gives it an aggregate fundamental rating of 8. It also has a strong chart: Chartmill gives it a technical rating of 8 as well.
With all of its production in the U.S., this company avoids the political risk associated with global oil companies, and its small size lets it target fields that wouldn&rsquo;t move the needle for oil majors.&nbsp;
</blockquote>
<h3>What Changed?&nbsp;</h3>
EPM&#39;s chart and technical rating are no longer strong, but its fundamentals are. The company ended last quarter with plenty of cash on its balance sheet and zero debt. But it missed on top and bottom lines due to downtime and maintenance issues in some of its fields and lower oil ($69.51 per barrel on average) and natural gas prices ($2.44 per MCF, or thousand cubic feet)&nbsp;in the quarter.&nbsp;
The good news though is that maintenance issues are temporary, and oil and natural gas prices are significantly higher in the current quarter, with WTI (West Texas Intermediate) oil trading at about $90 per barrel now, and natural gas trading at about $2.77 now. That ought to be reflected in this quarter&#39;s earnings, which are scheduled to be reported in early November.&nbsp;
<h3>How To Play This</h3>
The simplest way would be to just buy the stock and reinvest its dividends. At yesterday&#39;s closing price of $6.80, EPM was yielding nearly 7% annually.&nbsp;
Another approach is to sell puts on it. I&#39;m currently short the $7.50 strike puts on EPM expiring on October 20th. As of yesterday, you could sell those puts for about $1.00. If EPM is trading over $7.50 on October 20th, those puts will expire worthless and you&#39;ll keep that $1.00 credit; if it&#39;s trading below $7.50, those puts will be exercised, and you&#39;ll buy the stock for $7.50, but your net cost will be $6.50 ($7.50 minus the $1 you got when you sold the puts).&nbsp;
Something to consider if you&#39;d like to add some domestic oil and gas exposure without overpaying for it.&nbsp;
If You Want To Stay In Touch
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Commodities

Markets

Trading Ideas

A Bargain Bet On Oil: While Oil Itself Is Overbought, This Attractive Oil & Gas Company Is Oversold

Wednesday marks the last chance for investors to receive the next dividend payout from Evolution Petroleum (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EPM#AMEX">EPM</a>). 
<h3>What's Happening</h3>
The company announced on Monday that it would pay shareholders a quarterly dividend of 12 cents per share. On Thursday, Evolution Petroleum will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 12 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Thursday. Shareholders who own EPM as of the end of Wednesday's session are eligible to receive the 12 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on September 29, 2023. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
<a href="https://www.benzinga.com/quote/EPM">Track real-time stock fluctuations for Evolution Petroleum on Benzinga.</a>

Dividends

Evolution Petroleum: Dividend Insights

Roth MKM analyst John White reiterates Evolution Petroleum (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EPM#AMEX">EPM</a>) with a Buy and maintains $9.5 price target.

Reiteration

Roth MKM Reiterates Buy on Evolution Petroleum, Maintains $9.5 Price Target

<h3>Gainers</h3>
<ul>
<li>Avalo Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avtx#NASDAQ">AVTX</a>) shares surged 68% to $0.2075. Avalo Therapeutics, on Sept 12, got notice from the Nasdaq as of Sept 11 the company&rsquo;s securities had closing bid price of $0.10/less for 10 consecutive trading days.</li>
<li>ZyVersa Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zvsa#NASDAQ">ZVSA</a>) gained 63.5% to $0.2101.</li>
<li>Rocket Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rckt#NASDAQ">RCKT</a>) rose 31.8% to $20.15 after the company announced that alignment has been reached with the FDA on the global Phase 2 pivotal trial of RP-A501 for Danon Disease.</li>
<li>Connexa Sports Technologies Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cnxa#NASDAQ">CNXA</a>) gained 22.2% to $0.1090.</li>
<li>Axcella Health Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/axla#NASDAQ">AXLA</a>) shares jumped 19.3% to $1.36 after jumping more than 59% on Tuesday.</li>
<li>Alset Capital Acquisition Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acax#NASDAQ">ACAX</a>) gained 19.1% to $10.60.</li>
<li>Ohmyhome Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/omh#NASDAQ">OMH</a>) gained 18.2% to $1.9147.</li>
<li>ECARX Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ecx#NASDAQ">ECX</a>) surged 16.8% to $3.5628.</li>
<li>VEON Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/veon#NASDAQ">VEON</a>) gained 16.4% to $19.30.</li>
<li>Super League Enterprise, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sle#NASDAQ">SLE</a>) shares gained 16.2% to $2.2650 after falling 40% on Tuesday.</li>
<li>DZS Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dzsi#NASDAQ">DZSI</a>) gained 15.3% to $2.11. DZS secured $29.7 million in financing.</li>
<li>HireRight Holdings Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hrt#NYSE">HRT</a>) climbed 14.8% to $10.05. HireRight plans additional $25 million share repurchase program.</li>
<li>Sigma Lithium Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sgml#NASDAQ">SGML</a>) rose 13.7% to $36.54.</li>
<li>Navidea Biopharmaceuticals, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/navb#NYSE">NAVB</a>) gained 13.3% to $0.1050.</li>
<li>Workhorse Group Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wkhs#NASDAQ">WKHS</a>) shares rose 13.2% to $0.7199 after the company announced it has received IRS approval as a qualified manufacturer for the Commercial Clean Vehicle Credit.</li>
<li>GRI Bio, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gri#NASDAQ">GRI</a>) gained 12.5% to $1.44.</li>
<li>FaZe Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/faze#NASDAQ">FAZE</a>) gained 11.5% to $0.2041 after declining 13% on Tuesday.</li>
<li>REV Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/revg#NYSE">REVG</a>) surged 9.2% to $14.07 after the company reported better-than-expected third-quarter financial results and raised FY23 net sales guidance above estimates.</li>
<li>Mainz Biomed N.V. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mynz#NASDAQ">MYNZ</a>) rose 6% to $3.88 after the company announced topline results from its ColoFuture study.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>MicroCloud Hologram Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/holo#NASDAQ">HOLO</a>) shares tumbled 71% to $3.05.</li>
<li>Eiger BioPharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eigr#NASDAQ">EIGR</a>) shares dipped 52.5% to $0.3279 after the company announced its decision to discontinue the Phase 3 LIMT-2 study of peginterferon lambda in patients with chronic hepatitis delta.</li>
<li>Calidi Biotherapeutics (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cldi#NYSE">CLDI</a>) fell 42.5% to $4.60 following the company&rsquo;s public debut.</li>
<li>Wheels Up Experience Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/up#NYSE">UP</a>) tumbled 31.3% to $2.72.</li>
<li>KULR Technology Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kulr#NYSE">KULR</a>) fell 29% to $0.4129 as the company reported pricing of $2.5 million public offering of common stock.</li>
<li>MMTec, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mtc#NASDAQ">MTC</a>) fell 28.5% to $0.3950.</li>
<li>Evolution Petroleum Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/epm#NYSE">EPM</a>) fell 23% to $6.81 after reporting downbeat fourth-quarter results.</li>
<li>Applied Optoelectronics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aaoi#NASDAQ">AAOI</a>) declined 19% to $9.20.</li>
<li>Canopy Growth Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cgc#NASDAQ">CGC</a>) shares fell 18.7% to $1.0887 after declining more than 20% on Tuesday.</li>
<li>Acelyrin, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/slrn#NASDAQ">SLRN</a>) fell 16.6% to $10.68. Morgan Stanley downgraded Acelyrin from Overweight to Equal-Weight and lowered the price target from $39 to $19.</li>
<li>Coda Octopus Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/coda#NYSE">CODA</a>) declined 16.2% to $6.27 following downbeat quarterly results.</li>
<li>Infinity Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/infi#NASDAQ">INFI</a>) tumbled 16% to $0.0707. Infinity Pharmaceuticals received a delisting determination letter from Nasdaq stating that the company&#39;s stock will be suspended on Sept. 14, unless it requests a review of this decision.</li>
<li>Nature Wood Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nwgl#NASDAQ">NWGL</a>) shares fell 15.4% to $8.12. Nature Wood Group reported the pricing of its initial public offering of 750,000 American Depositary Shares at $9 per ADS.</li>
<li>GigaCloud Technology Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gct#NASDAQ">GCT</a>) fell 14.7% to $11.29. GigaCloud Technology recently entered into an agreement as the stalking horse bidder to acquire substantially all assets of Noble House Home Furnishings for $85 million.</li>
<li>Nature Wood Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nwgl#NASDAQ">NWGL</a>) shares declined 12% to $8.45.</li>
<li>Kaixin Auto Holdings (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kxin#NASDAQ">KXIN</a>) shares fell 9.2% to $0.2487. Kaixin Auto recently inked a non-binding acquisition term sheet with WM Motor.</li>
<li>Sana Biotechnology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sana#NASDAQ">SANA</a>) fell 9% to $5.18. Sana Biotechnology spokesperson, at Morgan Stanley Healthcare Conference, said expects to file an IND filing for SC291 product candidate in autoimmune diseases in the fourth quarter.</li>
<li>WeWork Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/we#NYSE">WE</a>) fell 7.7% to $5.21 after jumping 87% on Tuesday.</li>
<li>Roblox Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rblx#NYSE">RBLX</a>) tumbled 7.2% to $27.10.</li>
<li>Grab Holdings Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/grab#NASDAQ">GRAB</a>) fell 7.2% to $3.5175 after Singapore&#39;s Land Transport Authority announced it will investigate the supply of taxi and ride-hailing services in connection with a a review of the point-to-point industry structure and regulatory framework.</li>
<li>Unity Software Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/u#NYSE">U</a>) fell 5.7% to $36.75.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34536808/bitcoin-tops-26-000-toncoin-emerges-as-top-gainer"> Bitcoin Tops $26,000; Toncoin Emerges As Top Gainer</a>

Intraday Update

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AAOI

ACAX

AVTX

AXLA

CLDI

CONNEXA SPORTS TECH INC by Connexa Sports Technologies Inc.

CNXA

CODA

DZSI

EIGR

FAZE

GRAB

ALPS ETF Trusthen & Steers Global Realty Majors ETF

MicroCloud Hologram Inc. - Ordinary Shares

HOLO

INFI

KULR

KXIN

MYNZ

NAVB

NWGL

RBLX

RCKT

REVG

SANA

Why Eiger BioPharmaceuticals Shares Are Trading Lower By 52%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

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