Cardiff Oncology shares plunge after Q2 earnings miss
Friday - Veeco Instruments Inc. (NASDAQ: NASDAQ:VECO), currently trading at $1.88, continues to hold a Buy rating from Benchmark analysts, with a steady price target of $5.00. The affirmation comes after the company reported second-half 2024 results that met analyst expectations. Veeco’s revenue reached $0.5 million, aligning with projections, as the firm progresses in market expansion and customer demand growth. InvestingPro data shows the stock has gained over 25% in the past week, with analyst targets ranging from $4 to $5.
The recent shipment of Veeco’s first ZOOZTER-100 unit to China marks a significant advancement, as the company makes its entry into the world’s largest electric vehicle (EV) market. Orange Charging, a subsidiary of DiDi’s energy sector that operates over 115,000 fast chargers, received the unit, indicating a robust milestone for Veeco. The company maintains strong liquidity with a current ratio of 2.05, according to InvestingPro data.
Benchmark analysts note that this successful delivery to China not only demonstrates Veeco’s capability to meet its commitments but also solidifies the credibility of its product. The analysts anticipate that this development could lead to further opportunities and successes for the company.
Looking ahead, Veeco is expected to continue its efforts to broaden its international presence throughout 2025. Benchmark’s analysts have expressed confidence in the company’s strategic direction and its potential to capitalize on the growing EV market, maintaining the Speculative Buy rating and the $5.00 price target. The company’s focus on expanding its global footprint is seen as a key driver for its future growth and market position.
In other recent news, ZOOZ Power has announced a significant partnership with a leading charge point operator in China. The company reported through a Form 6-K filing with the Securities and Exchange Commission that its proprietary Boosting System will be installed across the Chinese partner’s network. This strategic move marks ZOOZ Power’s entry into the world’s largest electric vehicle market, potentially positioning the company for substantial growth in the sector. The partnership signifies a milestone for ZOOZ Power as it expands its global footprint, leveraging China’s rapidly growing demand for EV infrastructure. The 6-K filing did not disclose the financial terms of the deal or the expected timeline for the rollout of the Boosting System installations. However, the entry into the Chinese market is a significant development for ZOOZ Power, given the country’s aggressive push towards electrification and its status as a global leader in EV adoption. ZOOZ Power’s Boosting System is designed to enhance the efficiency and reliability of EV charging stations. The collaboration with the Chinese operator is expected to introduce the company’s technology to a vast new customer base, aligning with China’s national goals for reducing carbon emissions and promoting sustainable transportation solutions.
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