Luminar Technologies (NASDAQ: LAZR) The company, which manufactures lidar sensors meant for self-driving cars, was in focus on May 8 following a key announcement. Luminar Technologies revealed that in the first fiscal quarter, Tesla was its biggest customer and made up 10% of its revenues of $21 million for the quarter. It was a significant announcement since Tesla Chief Executive Officer Elon Musk is fully committed to the success of self-driving cars. In August, Tesla aims to launch a robotaxi. In the first quarter, Luminar Technologies reported a loss of $10.46 million.
Ladenburg Thalmann, a renowned Wall Street firm founded in 1876, issued a buy rating and target price of $12 for Intelligent Bio Solutions Inc. (NASDAQ: INBS), a leader in medical technology, is making strides with its innovative fingerprint drug testing device. This product offers a quick, efficient alternative to traditional urine or saliva tests, which can be costly, slow, and hazardous. There’s a growing need for faster, reliable, and economical drug testing solutions, especially in workplace environments. Market forecasts suggest an expansion from $5.3 billion in 2023 to approximately $28.3 billion by 2032. Intelligent Bio Solutions is set to secure a considerable market share with its pioneering fingerprint testing technology. For more insights, read the full TalkMarkets article.
Reborn Coffee Inc. (NASDAQ: REBN) The California-based specialty coffee retailer announced on May 8 that it had been successful in expanding significantly in China. Reborn Coffee Inc. announced that it expanded into the Chinese market through a market license agreement with the architectural and interior design consulting firm IAID Co. Ltd. Thanks to the agreement, a flagship location in Guangzhou would be established. The outlet would also be equipped with a detailed brand center and would be the basis for future expansion into major cities in China like Shenzhen and Shanghai in the near term.
Pesaro Inc. (NASDAQ: PSRO), a leader in 60 GHz unlicensed and 5 GHz mmWave wireless technology, provides IP, antenna modules, software, and chipsets. The company made headlines on April 30 after announcing that it would release its financial results for the first fiscal quarter of 2024 on May 13, following the market’s close. Additionally, on April 16, news surfaced that Panasonic System Networks R&D Lab Co. Ltd. had integrated Pesaro’s X710 chipset into its new 60GHz WLAN connection. In a significant move on April 16, Pesaro Inc. announced that Panasonic System Networks R&D Lab Co. Ltd. has adopted its X710 chipset for a new 60GHz WLAN solution. This collaboration is notable given Panasonic’s global prominence in enterprise and consumer technology.
Catheter Precision Inc. (NYSE American: VTAK), an innovative U.S. medical device firm focused on electrophysiology products, on May 7, announced a purchase order from the University of California San Diego Health System (UCSD) for its revolutionary LockeT product. This purchase order follows another purchase order announcement on April 24 by Catheter Precision for the LockeT product, by HCA Healthcare Inc. (NYSE: HCA). HCA Healthcare Inc. is one of the largest healthcare service providers in the United States, generating revenues of $64 billion in 2023 and Ladenburg Thalmann set a target price of $4 for Catheter Precision Inc. (NYSE American: VTAK), see buy recommendation.
Dyadic International Inc. (NASDAQ: DYAI) The company reported revenues of $2,899,000 and cash, cash equivalents, and investment-level securities valued at $7.3 million at the end of the fiscal year 2023. Additionally, the company successfully concluded a $6 million capital raise, sourced from relatives, trusts, and long-standing DYAI shareholders linked to Mark Emalfarm, the company’s CEO. This infusion has bolstered the company’s robust capital position. See Zacks Small-Cap Research Report, updated April 1, 2024. Finally, CEO Mark Emalfarb highlighted Dyadic’s accomplishments on “The Street Podcast,” highlighting the $75 million DuPont (NYSE: DD) deal and drawing parallels between Dyadic and Tesla, Inc.’s (NYSE: TSLA) transformative impact on the auto industry. Listen Now!
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