Shares of AXT, Inc. AXTI skyrocketed in early trading today after the company posted impressive fourth-quarter financial results.
AXT reported a GAAP loss of 9 cents per share, beating market expectations of a 15 cents per share loss. The company’s quarterly sales reached $20.43 million, surpassing estimates of $17.57 million, according to data from Benzinga Pro.
In response, AXT shares soared by a staggering 36% to $3.10 in pre-market trading.
Here’s a glimpse at some other stocks making significant moves in pre-market trading.
Movers
- Telesis Bio, Inc. TBIO surged 88% to $0.8506 in pre-market trading after the company secured EUR Patent #3503915 for “Genetically Engineered Vibrio Natriegens.”
- Intuitive Machines, Inc. LUNR climbed 63.2% to $13.51 in pre-market trading. Elon Musk, the CEO of SpaceX, praised Intuitive Machines for their groundbreaking moon landing, a significant achievement in U.S. space exploration.
- Ocean Biomedical, Inc. OCEA saw its shares surge by 53% to $0.84 in pre-market trading.
- BowFlex Inc. BFX jumped 41.8% to $0.2382 in pre-market trading after a 20% decline on the previous day.
- Carvana Co. CVNA rose 26.4% to $66.22 in pre-market trading following the release of the company’s fourth-quarter financial results.
- Beneficient BENF gained 22% to $0.2681 in pre-market trading. On Feb. 13, Beneficient reported a third-quarter loss of $1.98 per share.
- Maravai LifeSciences Holdings, Inc. MRVI saw its shares rise by 20.9% to $6.18 in pre-market trading after announcing better-than-expected fourth-quarter financial results.
- Trinity Place Holdings Inc. TPHS climbed 15.9% to $0.2098 in pre-market trading following the release of its fourth-quarter results.
- Block, Inc. SQ surged 12.7% to $76.62 in pre-market trading. The company reported lower-than-expected earnings for the fourth quarter, but surpassed sales estimates. Block projected first-quarter gross profits of $2.0 billion to $2.02 billion, a 24% year-over-year increase at the midpoint.
Underperformers
- Charge Enterprises, Inc. CRGE tumbled 49.5% to $0.0368 in pre-market trading following Nasdaq Hearings Panel’s decision to delist common shares.
- Applied Optoelectronics, Inc. AAOI dropped 38.2% to $12.58 in pre-market trading after reporting fourth-quarter results.
- Ascent Solar Technologies, Inc. ASTI declined 20.6% to $0.5001 in pre-market trading.
- Smith Micro Software, Inc. SMSI saw its shares fall by 20.5% to $0.65 after announcing sluggish quarterly sales.
- La Rosa Holdings Corp. LRHC slipped 17.8% to $2.25 in pre-market trading after surging around 96% the day before. La Rosa Holdings disclosed the acquisition of a 100% interest in the La Rosa Realty Winter Garden franchise in Florida.
- indie Semiconductor, Inc. INDI witnessed a 15% drop to $5.86 in pre-market trading following weak quarterly sales.
- ModivCare Inc. MODV fell 14.2% to $37.64 in pre-market trading after issuing a bleak sales forecast for the first quarter.
- Ardelyx, Inc. ARDX dropped 13.3% to $7.65 in pre-market trading after reporting mixed fourth-quarter financial results.
- Energy Focus, Inc. EFOI dipped 12.5% to $2.04 in pre-market trading.
- Booking Holdings Inc. BKNG saw its shares decline by 9.1% to $3,545.61 in pre-market trading after releasing fourth-quarter financial results.
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