SEAC, BJDX, WEJO, FIVE, AUVI: Trending Stocks Today 9 June

By Kirsteen Mackay

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Stocks trending today include SeaChange (SEAC), Bluejay Diagnostics (BJDX), Wejo Group (WEJO), Five Below (FIVE), and Applied UV (AUVI).

S&P futures were down 0.3% in Thursday morning trading, reversing earlier gains after US equities finished lower in Wednesday's session.

Oil flat, gold down and Bitcoin (BTC) down. 

Here are some of today’s trending stocks: 

SeaChange International Inc (NASDAQ: SEAC)

SeaChange International Inc (NASDAQ: SEAC) stock is up 9.7% in pre-market trading. The company released its Q1 2023 earnings yesterday.

SeaChange’s core business produced 33% revenue growth Y/Y, while dramatically reducing costs. The company strives to leverage its platform, to work toward sustainable, profitable development at scale. 

Q1 Highlights

  • Total revenue: $6.7m (down 22% Q/Q, up 33% Y/Y)

  • Maintained a lower operating cost profile with a 17% Y/Y decrease

  • Renewed long-term support and services agreements with two major Operator TV customers in North America

  • Commenced onboarding of two additional StreamVid customers in Latin America and EMEA, generating traffic and revenue on SeaChange’s Software-as-a-Service (SaaS) cloud platform

  • Advanced “Development Plus” project with VIDAA to jointly develop VIDAA’s FAST Channel platform and streaming services for Hisense

  • Introduced feature enhancements to our recently launched Xstream™ platform to support content monetization on Connected TVs. These features include improvements to contextual advertising in the FAST channel and AVOD formats for content owners

SeaChange’s President and CEO, Peter D. Aquino, said:

SeaChange is evolving into a more advanced software development platform. We continue to support our customers with SeaChange’s core video and advertising products, while we successfully initiated our pivot towards enhanced services, such as: streaming services, targeted and programmatic advertising, and Development Plus efforts aimed at Connected TVs, such as FAST channel development.

SeaChange International is a global, public supplier of video delivery software that provides video streaming, linear TV and video advertising technology for operators, content owners and broadcasters globally.

Bluejay Diagnostics Inc (NASDAQ: BJDX)

Bluejay Diagnostics Inc (NASDAQ: BJDX) stock is up 31% this morning, following a 20% rise in yesterday’s session.

Bluejay, a medical diagnostics company focused on developing cost-effective, rapid, near-patient products for triage and monitoring of disease progression, today announced that the FDA has agreed to consider Bluejay’s plan to pursue a De Novo submission for the Symphony IL-6 Test. 

This test is a user-friendly system that does not require any sample prep or dedicated staff and was shown in published clinical studies to deliver results in approximately 20 minutes. 

In written feedback to the January 2022 submission of the FDA pre-submission briefing package, the FDA stated that Bluejay’s Symphony IL-6 Test could be considered for the De Novo pathway.

Neil Dey, the CEO, said:

We are excited about the opportunity to pursue the De Novo regulatory pathway. This confirms our belief that the Bluejay Symphony IL-6 Test has the potential to provide an innovative solution to the market. Bluejay continues to advance the Symphony IL-6 Test towards the Company’s anticipated marketing application with the FDA, expected by year-end 2022. 

BlueJay’s AGM takes place today.

Wejo Group Ltd (NASDAQ: WEJO)

The Wejo Group Ltd (NASDAQ: WEJO) share price is up 13.4% to $2.59 in early trading. Today Wejo announced an expansion and extension of its existing collaboration with Microsoft Maps.

This deal will significantly enhance the capabilities of Microsoft's mapping products in multiple territories worldwide. An extensive build on their existing relationship will also facilitate the ability for Microsoft to receive real-time Wejo data from all territories to further enhance and improve its mapping capabilities, including intelligent routing, route optimization, identifying parking spaces and more.

Richard Barlow, Wejo’s Founder and CEO, said:

With the connected vehicle data market slated to reach $61bn by 2030, it is more important than ever to harness the power of the information collected from these vehicles, and that’s no easy task,

Our expanded relationship with Microsoft is a rock-solid example of effectively working together across OEMs and providers to deliver data sets that improve the experience of drivers globally.

Leveraging over 16 billion daily data points from approximately 12 million connected vehicles, Microsoft utilizes Wejo’s data to analyze actual vehicle movement instead of device movement, which significantly improves the quality of traffic-oriented data and allows Microsoft mapping services to create a faster, smarter, and more cost-efficient driving experience.

Wejo Group Ltd. is a British connected vehicle data exchange platform. The firm provides connected car data, insights, and analytics solutions. The company was founded on May 21, 2021, and is headquartered in Hamilton, Bermuda.

Five Below Inc (NASDAQ: FIVE)

The Five Below Inc (NASDAQ: FIVE) share price is down 7.7% to $124.82 in pre-market trading. 

Five Below Inc. is an American chain of specialty discount stores that sells products that cost up to $5, plus a small assortment of products from $6 to $25.

The company is quick to jump on a trend and capitalize on it. For instance, the squishmallow trend is proving popular.

In 2022, the company is on track to convert over 200 stores to its new Beyond prototype.

The group remains focused on its growth strategies but has altered its guidance for the year ahead.

Inventory at the end of Q1 was $504m, compared to $327m in Q1 2021. The company is confident it will shift this in the summer, but Target’s recent inventory build-up points to a slowdown in consumer demand.

Joel D. Anderson, President, CEO & Director, Five Below, Inc, said:

the customer response to our new prototype has been overwhelmingly positive. We remain excited about our future and our focus on execution to convert our store fleet to the new prototype.

Q1 Highlights

  • Total sales: $640m (up 7% Y/Y)

  • Comparable sales: down 3.6% Y/Y

  • Diluted EPS of $0.59

  • Store Growth: 35 new stores opened across 23 states

  • Opening 1,200th store in Union Square, Manhattan 

  • Average inventory on a per-store basis increased approximately 37% vs. Q1 last year

  • Average total units of inventory on a per-store basis increased about 20% Y/Y

Guidance For Q2

  • Opening about 30 new stores

  • Sales of $675m to $695m

  • Comps of between -2% to -5%

  • 25% effective tax rate

  • Net income between $41m and $48m

  • Diluted EPS of $0.74 to $0.86

Applied UV Inc (NASDAQ: AUVI)

Applied UV Inc (NASDAQ: AUVI) stock is up 55% in pre-market trading. The air purification and infection control company announced that it had expanded its global distribution reach with our distributor, M/S Novatek Pakistan, being awarded as the sole source provider of Airocide air purification systems for government hospitals via a government tender for the KPK Province in Pakistan.

M/S Novatek Pakistan has extensive experience in dealing with the Pakistani government and previously won a similar government tender with 657 Airocide air purification systems installed throughout the country. 

Over the past year, Applied UV Inc (AUVI) has traded between $0.87 and $12.15.

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Topics:
Trending Stocks
Industries:
Consumer Discretionary
Healthcare
Information Technology
Companies:
SeaChange International
Five Below
Applied UV

Author: Kirsteen Mackay

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Kirsteen Mackay does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the above article.

Kirsteen Mackay has not been paid to produce this piece by the company or companies mentioned above.

Digitonic Ltd, the owner of ValueTheMarkets.com, does not hold a position or positions in the stock(s) and/or financial instrument(s) mentioned in the above article.

Digitonic Ltd, the owner of ValueTheMarkets.com, has not been paid for the production of this piece by the company or companies mentioned above.

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