After-Hours Stock Movers for March 24th:
MEI Pharma (NASDAQ:MEIP) 46% LOWER; FDA informed the companies of its position that a randomized trial is now needed to adequately assess drug efficacy and safety of PI3K inhibitor drug candidates
The Honest Company Inc (NASDAQ:HNST) 20% LOWER; reported Q4 EPS of ($0.10), $0.04 worse than the analyst estimate of ($0.06). Revenue for the quarter came in at $80.4 million versus the consensus estimate of $84.59 million. Full Year 2022 revenue is expected to be approximately flat compared to 2021.
SmartRent Inc (NYSE:SMRT) 17.3% LOWER; reported Q4 EPS of ($0.13), $0.04 worse than the analyst estimate of ($0.09). Revenue for the quarter came in at $34.7 million versus the consensus estimate of $31.4 million. SmartRent sees FY2022 revenue of $220-250 million, versus the consensus of $301 million.
Cyren (NASDAQ:CYRN) 16% LOWER; reported Q4 EPS of ($1.19), versus ($1.37) reported last year. Revenue for the quarter came in at $7.4 million versus the consensus estimate of $7.77 million.
Tilray Brands, Inc. (NASDAQ:TLRY) 11% HIGHER; adds to intra-day gains of 21.9% as the House will vote to legalize cannabis on Monday.
Purple Innovation, Inc. (NASDAQ:PRPL) 8% LOWER; intends to sell $65 million of Class A common stock in an underwritten public offering.
Sundial Growers (NASDAQ:SNDL) 7.3% HIGHER; adds to intra-day gains of 23% as the House will vote to legalize cannabis on Monday.
Canopy Growth Corporation (NASDAQ:CGC) 6.8% HIGHER; adds to intra-day gains of 11.4% as the House will vote to legalize cannabis on Monday.
Cronos Group (NASDAQ:CRON) 6.5% HIGHER; adds to intra-day gains of 8.7% as the House will vote to legalize cannabis on Monday.
Albertsons Companies (NYSE:ACI) 6.2% LOWER; unclear reason for the downside.
Gates Industrial (NYSE:GTES) 5.5% LOWER; announced today that certain selling stockholders affiliated with Blackstone (NYSE:BX) Inc. have commenced a secondary offering of 5,000,000 of Gates' ordinary shares.
By Lon Juricic