에 대한 최신 뉴스 ViewRay (OTC:VRAYQ) 주식

ViewRay Inc is a radiation therapy and imaging technology company. It designs, manufactures, and markets radiation therapy systems that provide real-time imaging during radiation treatment. Its product portfolio encompasses The MRIdian linac system, The MRIdian system, the Monte Carlo treatment planning system, etc. The company holds the license for its combination of MRI and radiation therapy technologies. Geographically, it derives a majority of its revenue from the United States.

ViewRay Inc

- Reuters&nbsp; WASHINGTON, Nov 15 (Reuters) - Reports that billionaire Elon Musk has held multiple calls with Russian officials, including President Vladimir Putin, should be investigated by the Pentagon and law-enforcement agencies on national-security grounds, two senior Democratic senators said in a letter seen by Reuters on Friday.
Musk, who has been appointed to a senior government role by Republican President-elect Donald Trump, oversees billions of dollars in Pentagon and intelligence-community contracts as CEO of aerospace company SpaceX.
Senator Jeanne Shaheen, a senior Foreign Relations Committee member, and Senate Armed Services Committee chair Jack Reed told U.S. Attorney General Merrick Garland and the Pentagon's inspector general that Musk's involvement in those SpaceX programs should be probed for potential debarment and exclusion after reports as recent as October of his conversations with Russian officials. Debarment refers to exclusion from certain contracts and privileges.
"These relationships between a well-known U.S. adversary and Mr. Musk, a beneficiary of billions of dollars in U.S. government funding, pose serious questions regarding Mr. Musk's reliability as a government contractor and a clearance holder," the lawmakers said in a joint letter dated on Friday.
Several Democratic lawmakers have publicly called for a probe into Musk's communications with Moscow since a Wall Street Journal report last month on the alleged contact, but the letter to the U.S. officials who could launch such an investigation has not been previously reported.
The call by Shaheen and Reed for a federal probe is a longshot effort as Trump prepares to return to the White House with backing from Musk, who spent over $119 million on Trump's reelection campaign and was appointed co-head of the president-elect's forthcoming Department of Government Efficiency.
SpaceX, Musk and the Pentagon did not immediately respond to requests for comment. The Pentagon and Justice Department did not immediately respond to similar requests.
REPORTS OF RUSSIAN CONTACT
Reports of Musk's contact with Russian officials emerged in 2022, when political scientist Ian Bremmer, president of consulting firm Eurasia Group, said he was told by Musk that he had spoken with Putin about the Ukraine war and Russia's red line for using nuclear weapons. Musk denied Bremmer's claim and said he had only spoken to Putin 18 months earlier, about space.
Last month, the Wall Street Journal reported Musk has had multiple conversations with Russian officials including Putin and his first deputy chief of staff Sergei Kiriyenko, citing unnamed U.S., European and Russian officials.
Shaheen and Reed said in the letter it was "deeply concerning" that Musk reportedly had conversations with Kiriyenko. He was charged this year with other Russian officials by the U.S. Justice Department for spearheading an AI-powered propaganda campaign on Musk's social-media platform X and other sites to promote Russian interests and influence voters ahead of the U.S. presidential election.
Musk has publicly claimed he holds a U.S. security clearance, giving him access to secret information at SpaceX, which holds billions of dollars in Pentagon and NASA launch contracts. The company also has a $1.8-billion intelligence-community contract to build a vast spy satellite network, Reuters has reported.
"Communications between Russian government officials and any individual with a security clearance have the potential to put our security at risk," the lawmakers said in the letter.
Tensions between the U.S. and Russia in space have spiked since Russia's 2022 Ukraine invasion. Pentagon officials have condemned suspect maneuvers by Russian satellites in orbit and this year accused Russia of developing a space-based nuclear weapon capable of disabling large satellite networks.
Musk's SpaceX has come to dominate the U.S. space industry and is relied on heavily by NASA and the Pentagon.
The company's Starlink internet network of nearly 7,000 satellites has made SpaceX the world's largest satellite operator and a disruptive force in the satellite internet sector, with heavy interest from the Pentagon for military communications. Ukraine's military relies heavily on Starlink for battlefield connectivity.
The senators sent a separate letter on Friday to U.S. Air Force Secretary Frank Kendall saying Musk's reported conversations raise the need for more competition in the launch and satellite communications industries and to use more companies besides SpaceX for sensitive national-security missions.
"Mr. Musk's reported behavior could pose serious risks to national security, and as CEO of a company with billions of dollars in sensitive defense and intelligence contracts, warrant reconsideration of SpaceX's outsized role in (the Department of Defense's) commercial space integration," the lawmakers said.

Macro Economic Events

News

Economics

TSLA

Democratic Senators Call For Pentagon And DOJ Investigation Into Musk's Alleged Calls With Russian Officials Amid National Security Concerns; Urge Probe Of SpaceX Government Contracts

Analyst Ratings

Trading Ideas

COIN

Amplify ETF Trust Amplify CWP Growth & Income ETF

QDVO

Live On CNBC, Kevin Simpson Announces Bought More Coinbase In QDVO

Maxim Group analyst Anthony Vendetti maintains Sensus Healthcare (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRTS#NASDAQ">SRTS</a>) with a Buy and raises the price target from $12 to $14.

Price Target

SRTS

Maxim Group Maintains Buy on Sensus Healthcare, Raises Price Target to $14

Boeing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) is <a href="https://www.benzinga.com/quote/BA/news">issuing layoff notices</a> to 17,000 employees as part of a broader effort to rightsize its workforce.
The cuts, totaling 10% of the company's global headcount, come as the plane maker battles financial turbulence, including a shaky stock performance and production slowdowns. 
The layoffs, expected since October, have been confirmed by <a href="https://www.reuters.com/business/aerospace-defense/boeing-starts-issuing-layoff-notices-starting-this-week-2024-11-13/">Reuters</a>, marking yet another step in Boeing&#8217;s ongoing struggle to stabilize.
See Also: <a href="https://www.benzinga.com/news/retail-sales/24/11/42008180/october-retail-sales-top-expectations-as-us-consumers-increase-tech-spending">October Retail Sales Top Expectations As US Consumers Increase Tech Spending</a>
<h2 class="wp-block-heading">A Challenging Year For Boeing</h2>
The company will provide U.S. workers with 60 days&#8217; notice, in compliance with federal law, keeping them on payroll through January. This move comes as Boeing attempts to regain footing under new CEO Kelly Ortberg, who's juggling:
<ul>
<li>A major financial overhaul,</li>
<li>A union strike, and</li>
<li>A significant production revival effort.</li>
</ul>
The company has struggled throughout 2024, highlighted by a dramatic safety incident earlier in the year and the extended labor strike that just ended on Nov. 5.
Read Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42008196/jim-cramer-says-this-tobacco-stock-is-undervalued-but-hes-not-recommending-it">Jim Cramer Says This Tobacco Stock Is &#8216;Undervalued&#8217; But He&#8217;s Not Recommending It</a>
<h2 class="wp-block-heading">Boeing 737 MAX: A Bright Spot Amid Challenges</h2>
Despite these setbacks, Boeing is now focused on reviving production of its cash cow, the 737 MAX, which has faced major setbacks following the strike by 33,000 workers. 
While production is slowly ramping up again, the announcement of layoffs and financial austerity measures is casting a long shadow over employee morale.
<h2 class="wp-block-heading">Boeing&#8216;s Bearish Sentiment Persists</h2>
But even as Boeing's workforce shrinks, its financial health is under scrutiny. The company raised $24 billion in late October to stabilize its balance sheet, but its stock has been on a steep decline. 
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent111524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="628" height="456" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/15091536/Screenshot-2024-11-15-at-7.23.38-PM.png" alt="" class="wp-image-650319" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/15091536/Screenshot-2024-11-15-at-7.23.38-PM.png 628w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/15091536/Screenshot-2024-11-15-at-7.23.38-PM-300x218.png 300w" sizes="(max-width: 628px) 100vw, 628px" /></a></figure>
<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent111524&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
Boeing stock is down over 45% year-to-date, with its share price sitting at $138.14—far below key simple moving averages, including the 200-day simple moving average (SMA) of $175.36. 
This technical weakness indicates further risk for the stock, with a current moving average convergence/divergence (MACD) of a negative 3.83 and a relative strength index (RSI) of 32.73 signaling that Boeing stock is nearing oversold conditions.
<h2 class="wp-block-heading">Can Boeing Soar Again?</h2>
Despite the recent volatility, Boeing&#8217;s efforts to reassert itself, particularly with the MAX, are critical to its future growth. 
However, with the stock stuck in a bearish trend and its workforce facing uncertainty, investors will be watching closely for any signs of recovery. 
The future of Boeing hinges on whether the 737 MAX can continue to take flight—both literally and figuratively.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/11/41946311/boeing-forecasts-67-growth-in-global-air-cargo-fleet-by-2043-driven-by-asia-demand">Boeing Forecasts 67% Growth In Global Air Cargo Fleet By 2043, Driven By Asia Demand</a></li>
</ul>
Image: Shutterstock

Technicals

Travel

General

Boeing Begins Layoffs: Is The 737 MAX Recovery Enough To Lift BA Stock?

WIIM

SGML

Sigma Lithium shares are trading lower after the company reported worse-than-expected Q3 financial results.

MPWR

Live On CNBC, Kevin Simpson Announced Sold Monolithic Power Systems

RBC Capital analyst Gregory Renza maintains Inovio Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INO#NASDAQ">INO</a>) with a Sector Perform and lowers the price target from $7 to $6.

RBC Capital Maintains Sector Perform on Inovio Pharmaceuticals, Lowers Price Target to $6

MooDeng (CRYPTO: MOODENG), the meme coin named <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41211662/whoosh-viral-baby-hippo-moondeng-surges-380-after-vitalik-buterin-sells-his-stack-and-dona">after the viral baby hippo</a>, has surged to a new all-time high on Friday, with traders predicting more exchange listings and price upside to come.
What Happened: The meme coin made a new all-time high of $0.67 in early Friday trading, before a slight retrace in the afternoon.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>Market Cap</td>
<td>24-Hour Trend</td>
<td>7-Day Trend</td>
</tr>
<tr>
<td>MooDeng (CRYPTO: MOODENG)</td>
<td> $0.596</td>
<td>$596 million</td>
<td>&nbsp;+25.6%</td>
<td>&nbsp;+98.9%</td>
</tr>
<tr>
<td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td>
<td> $0.00002354</td>
<td>$13.9 billion</td>
<td>&nbsp;-6.3%</td>
<td>&nbsp;+26%</td>
</tr>
<tr>
<td>Dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>)</td>
<td> $3.57</td>
<td>$3.6 billion</td>
<td>&nbsp;-9.9%</td>
<td>&nbsp;+58.4%</td>
</tr>
</tbody>
</table>
</figure>
Trader Notes: Crypto trader Bluntz <a href="https://x.com/Bluntz_Capital/status/1856943143280939420">sees</a> MooDeng &#8220;ready for that all-time high break,&#8221; while another crypto trader highlighted MooDeng's promising performance, drawing comparisons to Shiba Inu's meteoric rise.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">You are not even slightly ready for what is about to come for <a href="https://twitter.com/hashtag/moodeng?src=hash&amp;ref_src=twsrc%5Etfw">#moodeng</a>! Moo Deng vs. <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a><a href="https://twitter.com/MooDengSOL?ref_src=twsrc%5Etfw">@MooDengSOL</a><a href="https://twitter.com/moodengx?ref_src=twsrc%5Etfw">@moodengx</a> <a href="https://t.co/0PLd6WQQp9">pic.twitter.com/0PLd6WQQp9</a>
&mdash; Retards and Degens (&#x1f48e;,&#x1f48e;) (@RetardsAndDegen) <a href="https://twitter.com/RetardsAndDegen/status/1857356465033412777?ref_src=twsrc%5Etfw">November 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another trader, Burning Kitty, <a href="https://x.com/burning_kitty/status/1857435832916848738">noted</a> that MooDeng is gaining traction among Solana meme coins, ranking 10th in Binance perpetuals trading volume, just behind Peanut The Squirrel (CRYPTO: PNUT). It is followed by Dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>).
Grey BTC emphasized the shift towards organic meme coins with real communities, <a href="https://x.com/greybtc/status/1857404040524812779">suggesting</a> that MooDeng could thrive in this trend. He warned against "VC-backed coins," claiming they often face significant post-listing declines &nbsp;
Community News: Centralized exchange OKX <a href="https://x.com/okx/status/1857332983990047037">announced</a> the listing of MooDeng on Friday.
What&#8217;s Next: The influence of meme coins is expected to be thoroughly explored at Benzinga&#8217;s upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a> event on Nov. 19.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41211662/whoosh-viral-baby-hippo-moondeng-surges-380-after-vitalik-buterin-sells-his-stack-and-dona">Whoosh! Viral Baby Hippo Moodeng Surges 380% After Vitalik Buterin Sells His Stack And Donates $642K To Charity</a></li>
</ul>
Image: Flickr

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$SHIB

$WIF

Viral Baby Hippo MOODENG Makes New All-Time High, Could Follow Shiba Inu's Run, Trader Predicts

Looking into the current session, AECOM Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACM#NYSE">ACM</a>) shares are trading at $106.33, after a 0.81% decrease. Over the past month, the stock fell by 1.47%, but over the past year, it actually went up by 22.38%. With questionable short-term performance like this, and great long-term performance, long-term shareholders might want to start looking into the company's price-to-earnings ratio. 

<img src="https://www.benzinga.com/files/images/story/2024/1731691811_0.png" alt="Past Year Chart" />

<h3>AECOM P/E Compared to Competitors</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
Compared to the aggregate P/E ratio of the 51.71 in the Construction &amp; Engineering industry, AECOM Inc. has a lower P/E ratio of 39.56. Shareholders might be inclined to think that the stock might perform worse than it's industry peers. It's also possible that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1731691811_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

Intraday Update

Markets

P/E Ratio Insights for AECOM

Goldman Sachs <a href="https://www.benzinga.com/insights/analyst-ratings/24/11/42004767/breaking-down-united-airlines-holdings-11-analysts-share-their-views">has resumed coverage</a> of nine airlines and gave a broad overview of the year ahead for the airline sector. Here's a look at the winners and losers in the industry.
The Details: Goldman Sachs analyst Catherine O'Brien said the firm expects supply constraints to continue for the airlines into 2025. She sees mixed stock performance ahead, with the airlines exposed to premium and corporate demand outperforming the sector. 
Read More: <a href="https://www.benzinga.com/general/social-media/24/11/41993328/trump-media-insiders-sell-more-than-16-million-in-djt-stock">Trump Media Insiders Sell More Than $16 Million In DJT Stock</a>
ALK: The firm resumed coverage of Alaska Air Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) with a Buy rating and a $70 price target on the stock. The analyst pointed to the airline's exposure to the West Coast corporate travel demand, which has begun to recover significantly. 
She also noted Alaska Air's improving interisland profitability and sees upside ahead related to synergies from the acquisition of Hawaiian Airlines.&nbsp;
DAL: Goldman Sachs resumed coverage of Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) as a Buy with an $83 price target, representing 28% upside to the stock's current levels. The firm said its Buy rating is underpinned by Delta's growth in loyalty revenue, which is driven partly by its long-term credit card agreement with American Express. 
O&#8217;Brien also highlighted the airline's exposure to passenger demand for premium services and its competitors exiting key cities where Delta continues to operate.&nbsp;
UAL: O&#8217;Brien forecasted United Airlines Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NYSE">UAL</a>) to end 2024 with margins at nearly pre-pandemic levels and noted this as the highest rate of recovery among the firm's airline coverage. The Goldman Sachs analyst also highlighted United as among the best positioned to serve the increasing premium and corporate consumer demand.&nbsp;
Goldman Sachs resumed coverage on United Airlines with a Buy rating and a $119 price target, representing 31% upside to the stock's current level.&nbsp;
JBLU: The firm resumed coverage on shares of JetBlue Airways Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) with a Sell rating and a $5.50 price target. O'Brien pointed to capacity restraints resulting from aircraft grounded for required maintenance and air traffic control staffing shortages in New York City, where the airline has a large hub. The analyst said that both issues are out of management's control and expects both to continue through the short term.&nbsp;
LUV: The Goldman Sachs analyst resumed coverage on Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) shares with a Sell rating and announced a $28 price target. O'Brien said Southwest's product <a href="https://www.benzinga.com/insights/analyst-ratings/24/11/42004766/beyond-the-numbers-9-analysts-discuss-southwest-airlines-stock">and network</a> are not aligned with the increasing demand for premium air services, putting it at a disadvantage in the current market.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/11/42009316/jeff-bezos-ex-wife-mackenzie-scott-sells-more-amazon-shares">Jeff Bezos&#8217; Ex-Wife MacKenzie Scott Sells More Amazon Shares</a></li>
</ul>
Image: VanderWolf from Shutterstock

Analyst Color

Movers

JBLU

Delta, United, Alaska Air Are Top Analyst Picks In Airline Sector

Scotiabank analyst Robert Hope maintains Tidewater Midstream (TSX:<a class="ticker" href="https://www.benzinga.com/stock/TWM#TSX">TWM</a>) with a Sector Perform and lowers the price target from C$0.45 to C$0.3.

TSX:TWM

Scotiabank Maintains Sector Perform on Tidewater Midstream, Lowers Price Target to C$0.3

RBC Capital analyst Ben Hendrix maintains CVS Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) with a Outperform and lowers the price target from $68 to $58.

RBC Capital Maintains Outperform on CVS Health, Lowers Price Target to $58

The Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) Board of Directors today announced that it has elected Tim Buckley as its newest member, effective January 1, 2025. Buckley will serve on the Finance and Governance &amp; Public Policy committees.
Buckley, 55, previously served as Chair and CEO of The Vanguard Group, where he successfully led one of the largest investment management firms in the world, with nearly $10 trillion in assets under management.

Management

Boeing Elects Tim Buckley To Board Of Directors, Effective January 1, 2025. Buckley Will Serve On The Finance And Governance & Public Policy Committees

<ul>
<li>Advances LiDAR technology for improved contrail analysis</li>
<li>Provides insights for development of new aircraft engines</li>
<li>Industry actively collaborating to understand contrail science with aim to reduce emissions</li>
</ul>
CINCINNATI, Nov. 15, 2024 /PRNewswire/ -- GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) and NASA are partnering on a series of unique flight tests to help further the aviation industry's understanding of contrails, using new test methods and technologies.
Contrails are clouds made of ice particles, which can be created when airplanes fly through cold, humid air. Persistent contrails are estimated to have a warming climate impact. Flight tests will support industry research efforts to better understand contrail science and enable new technology development that can reduce non-CO2 emissions.
Flights for the Contrail Optical Depth Experiment (CODEX) will be conducted the week of November 18 from Virginia. NASA Langley Research Center's G-III aircraft will follow GE Aerospace's Flying Test Bed in the sky and scan the aircraft wake with Light Detection and Ranging (LiDAR) technology. This will advance the use of LiDAR by NASA to generate three-dimensional imaging of contrails to better characterize how contrails form and how they behave over time.
For GE Aerospace, this represents new operating methods for its 747 Flying Test Bed, expanding capabilities ahead of flight tests planned this decade to evaluate performance of new commercial engine technologies. Open Fan, advanced combustion designs, and other propulsion systems are being developed through CFM International's Revolutionary Innovation for Sustainable Engines (RISE)&#x2A; program.

GE Aerospace And NASA Partnering On Flight Tests To Accelerate Industry's Understanding Of Contrails; Advances LiDAR Technology For Improved Contrail Analysis; Provides Insights For Development Of New Aircraft Engines

SPDR Dow Jones Industrial Average ETF Trust

Major indexes are lower amid weakness in chip and pharma stocks and as investors assess president-elect Trump's nominees.

Scotiabank analyst Meny Grauman maintains Sagicor Financial (TSX:<a class="ticker" href="https://www.benzinga.com/stock/SFC#TSX">SFC</a>) with a Sector Outperform and raises the price target from C$9 to C$10.

TSX:SFC

Scotiabank Maintains Sector Outperform on Sagicor Financial, Raises Price Target to C$10

Scotiabank analyst Mario Saric maintains H&amp;R REIT (TSX:<a class="ticker" href="https://www.benzinga.com/stock/HR#TSX">HR</a>) with a Sector Perform and raises the price target from C$11.5 to C$11.75.

TSX:HR

TSX:HR/UN

Scotiabank Maintains Sector Perform on H&R REIT, Raises Price Target to C$11.75

Cannabis producer Rubicon Organics Inc. (TSXV:<a class="ticker" href="https://www.benzinga.com/stock/ROMJ#TSXV">ROMJ</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/ROMJF#OTCQX">ROMJF</a>) reported its third quarter financial results for the three months ended Sept. 30, 2024.
The British Columbia-based company achieved a record net revenue of CA$13.5 million ($9.6 million) for the quarter, representing a 34% increase year-over-year.
"Rubicon Organics continues to innovate and expand our product offerings, solidifying a strong market share in premium flower, pre-rolls, edibles, and more," said CFO Janis Risbin. "I'm particularly proud of the success of our 2024 vape launch, which has already achieved 55% distribution in just six months. Looking ahead, we expect to drive further growth in Canada and beyond, as we intend for new market entry in 2025."
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/08/40397166/rubicons-revenue-grows-profit-margins-shrink-in-q2-whats-next-for-this-canadian-cannabis-company">Rubicon&#8217;s Revenue Grows, Profit Margins Shrink In Q2– What&#8217;s Next For This Canadian Cannabis Company?</a>
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
<h3 class="wp-block-heading">Q3 2024 Financial Highlights</h3>
<ul>
<li>Net revenue totaled CA$13.5 million, representing a 34% increase year-over-year.</li>
<li>Gross profit before fair value adjustments was CA$4.4 million, representing a 35% year-over-year increase.</li>
<li>Adjusted EBITDA came in positive at CA$2 million, up from CA$1.1 million in the prior year's period.</li>
<li>Positive operating cash flow was CA$0.9 million.</li>
</ul>
<h3 class="wp-block-heading">Product And Brand Highlights</h3>
<ul>
<li>Wildflower is one of Canada&#8217;s leading cannabis wellness brands, with a 27.8% market share in topicals.</li>
<li>The company's premium edibles held a 28.5% market share in the third quarter of 2024.</li>
<li>Rubicon launched 1964 Supply Co vape products, with strong growth and distribution already at 55% in six months.</li>
</ul>
<h3 class="wp-block-heading">ROMJF Price Action</h3>
Rubicon's shares traded 2.5263% lower at $0.2778 per share at the time of writing on Friday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/05/38871730/canadian-marijuana-company-rubicon-organics-reports-flat-revenue-adjusted-ebitda-loss-provides-p">Canadian Marijuana Company Rubicon Organics Reports Flat Revenue, Adjusted EBITDA Loss, Provides Positive Outlook</a></li>
</ul>

Cannabis

Earnings

ROMJF

TSX:ROMJ

TSXV:ROMJ

Canadian Cannabis Producer Rubicon Reports Record Q3 Revenue Of $13.5M, 34% YoY Growth

Morgan Stanley analyst Chris Snyder maintains Rockwell Automation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROK#NYSE">ROK</a>) with a Overweight and raises the price target from $320 to $335.

Morgan Stanley Maintains Overweight on Rockwell Automation, Raises Price Target to $335

Morgan Stanley analyst Benjamin Swinburne maintains Walt Disney (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) with a Overweight and raises the price target from $110 to $125.

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