With many stocks beaten down this year, investors eagerly await better than expected earnings results.
Some key earnings reports we have picked out to have an advanced look at including XPeng (NYSE: XPEV), BioNTech (NASDAQ: BNTX), Lottery.com (NASDAQ: LTRY), Smith-Midland (NASDAQ: SMID), and IM Cannabis (NASDAQ: IMCC).
XPeng Inc (NYSE: XPEV)
Chinese electric vehicle manufacturer XPeng Inc (NYSE: XPEV) has seen its share price plummet 46% year to date. But positive earnings results have the share price rising in pre-market trading.
The company reported better than expected Q4 results after raising its EV prices due to rising input costs. This led XPeng to enjoy its first billion-dollar quarter earning $1.34bn.
This will be an encouraging development for the EV sector, but investors remain wary of Chinese stocks as several geopolitical and domestic headwinds weigh on them. Plus, it appears XPeng’s delivery numbers are lower.
BioNTech SE (NASDAQ: BNTX)
BioNTech SE (NASDAQ: BNTX) stock is down 30% year-to-date but remains up 68% in the past year. The German Biotech shot to fame after helping Pfizer develop Comirnaty, one of the world’s first and most widely distributed COVID-19 vaccines.
However, as it experienced phenomenal growth in the aftermath of the pandemic’s arrival, is BNTX stock still a good investment?
Currently, BioNTech doesn’t have any other products on the market. Plus, the world is gradually moving to living with COVID-19, and there is significant enough competition that Comirnaty sales may not do much to move the needle on BNTX stock.
However, interested investors will be paying close attention to BioNTech’s Q4 and full-year results on Wednesday. The company has accumulated a decent cash pile through sales of its vaccine, and it has a low debt ratio.
The company has five drug candidates in Phase II trials and the potential for future product launches.
Lottery.com Inc (NASDAQ: LTRY)
Lottery.com Inc (NASDAQ: LTRY) went public via special purpose acquisition company (SPAC) Trident Acquisitions Corp. (NASDAQ: TDAC) on November 1. Since then, the LTRY share price has fallen 78%.
The company is an online lottery provider selling lottery tickets online and via mobile devices. It also offers “real-time results on more than 800 lottery games from more than 40 countries.
Lottery.com has recently announced two big deals. One with T-Mobile’s Marketing Solutions business to become the exclusive digital lottery brand for in-vehicle advertising. This means it will advertise directly via video ads on screens inside ride-sharing vehicles.
And another using Algorand’s blockchain to support the development of its Project Nexus blockchain-based gaming platform. Lottery.com is developing Project Nexus to operate lottery and other forms of online gaming worldwide with enhanced security, scalability, and speed.
The company has also recently made new hires. William (Bill) C. Thompson Jr. has joined the company’s expanded board of directors. Meanwhile, Ryan Dickinson is joining as CFO and president, Katie Lever as COO and chief legal officer, and Matt Clemenson as chief revenue officer.
SmithMidland Corp (NASDAQ: SMID)
Concrete company Smith-Midland Corp (NASDAQ: SMID) has scheduled its Q4 and full-year earnings release for Thursday, March 31.
For six decades, Smith-Midland has been manufacturing American precast concrete. While emissions are a problem for the construction industry, global supply chain issues highlight the need for domestic production.
SMID stock is down 40% year-to-date but remains up 90% in the past year. It enjoyed a share price run from September to December 2021.
There are some reasons to believe the company will exceed expectations. In October, the company won a contract extension to provide rental barriers for the I-64 Hampton Roads Bridge Tunnel project. The original contract, announced in March 2021, for $2.25M, has grown by $4.15m to a total of $6.4m.
IM Cannabis Corp (NASDAQ: IMCC)
IM Cannabis Corp (NASDAQ: IMCC) reports Q4 and full-year earnings on March 30.
Cannabis stocks have been enjoying a burst of positive sentiment recently. Once again, the decriminalization of marijuana has become a talking point as the House of Representatives said it would consider a decriminalization bill this week. This led to a cannabis stock rally late last week.
IMCC stock has not been faring so well, with its share price down 38% year-to-date and 72% in a year. But it too rose 4.5% on Friday.
Now investors will pay close attention to how IM Cannabis has performed in Q4 and 2021. IMCC reports on Wednesday before the market open.
IM Cannabis provides premium cannabis products to medical patients and adult-use recreational consumers. IM Cannabis is one of the very few companies operating in Israel, Germany and Canada, the three largest federally legal markets.
The company is steadily expanding with the announcement of three strategic acquisitions in Israel. These include Vironna, Pharm Yarok, and Panaxia Transactions.