NASDAQ Breakout Stocks: DFLI, NBTX, SGMA, DTST, INFI

The biggest stock exchanges in the world like NASDAQ offer investors thousands upon thousands of options to choose from on a daily basis. It also lists some of the biggest companies in the world and hence, there are stringent listing standards in place as well. It is no wonder that the exchange is followed so zealously. Here is a quick look at five of the notable gainers on NASDAQ in recent times.

Dragonfly Energy Holdings Corp (NASDAQ:DFLI) was one of the active gainers in Friday’s session as the stock surged 18.57% to close at $2.49. The stock has been trending higher over the past week with a jump of 40% and a monthly gain of 62%.

The company, which is involved in the manufacturing of high-quality lithium-ion deep-cycle batteries, made a key announcement on July 19. It announced that it had concluded its pilot line for United States lithium battery cells. The company used its patented batter production process to dry the depositing anode electrodes successfully. The company noted that its pilot line demonstrated that the process could be scaled up to industrial levels.

Dragonfly Energy Holdings announced that the pilot line could produce a maximum of 150 MWh of domestically processed lithium phosphate battery cells a year if the project operated at 70% levels of efficiency. The company also announced that it expected the pilot line to start producing cathode material at some point in the third fiscal quarter of 2023 and fuel cells would be produced from the pilot line by the end of the year.

The company noted that the pilot line construction and successful production of anode were crucial steps for the domestic production of battery cells.

NANOBIOTIX (NASDAQ: NBTX) is another stock that could be in action this week. Last week, the stock had a big jump of 39% and made a new 52-week high last week. The stock has soared 147% so far this year, outperforming the broader market.

The late-stage clinical-stage biotech firm is a pioneer in coming up with physics-based approaches for expanding the treatment options for cancer patients. The company announces on July 19 the very first patient had been injected as part of a Phase ½ study for evaluating its product NBTXR3. In this phase, the product had been activated by radiation therapy in combination with anti-PD-1/L-1 immune checkpoint inhibitors.

The combination was meant for the treatment of those patients suffering from advanced solid tumor malignancies which spread to the lungs and liver. The trial was being conducted by the company in collaboration with the celebrated The University of Texas MD Anderson Cancer Center.  The Chief Clinical and Medical Affairs Officer of the company Leonard A Farber spoke about the process as well. He noted that the objective of the company was to bring the benefits of the product to as many people as possible.

SigmaTron International Inc (NASDAQ: SGMA) is another momentum stock that saw massive buying past week. The stock closed higher by over 17% on Friday, extending its weekly gain to 65%. The stock skyrocketed 71% in the past month and now trading at a new high of 2023.

Only on July 20 the electronic manufacturing services company SigmaTron International Inc announced its financial results for the fiscal quarter and the fiscal year, both of which ended on April 30, 2023. The revenues generated by SigmaTron International Inc from continuing operations for the 2023 fiscal year stood at $441.4 million, which worked out to a year-on-year rise of 10% from the previous fiscal year.

The net income for the fiscal year came in at $14.2 million and that worked out to a decline from the $18.4 million in net income in the previous fiscal year. The basic income per share came in at $2.34 but that reflected a drop from the $3.81 income per share in the previous fiscal year.

In the quarter ended on April 30, 2023, the company clocked revenues of $108.3 million, which reflected a year-on-year rise of 10%. The net income for the quarter for SigmaTron International was $5.3 million as compared to $2.3 million in the corresponding quarter in 2022.

Data Storage Corporation (NASDAQ: DTST) stock saw impressive buying activities in the previous session with a gain of 14.505, extending its monthly jump of 41%.

The company is best known for providing a range of business continuity solutions for cloud infrastructure, cyber security, disaster recovery and IT services. This past Friday Data Storage Corporation announced that it had bagged the contract for a project worth several millions with one of the biggest sports and entertainment companies in the United States. Data Storage Corporation would be responsible for providing the company with cloud storage infrastructure.

The customized solution that the company would offer would improve the response time related to tiles, storage capacity for supporting a key aspect of the security infrastructure of the client, and file recovery. The Chief Executive Officer of the company Chuck Piluso, noted that everyone at the company was product at being selected for the major project.

Infinity Pharmaceuticals Inc (NASDAQ: INFI) – stock went up 10.50% in Friday’s session and closed at $0.2210.

The clinical-stage biotech firm is involved in the development of IPI 549. It is an orally administered oral, immuno-oncology macrophage reprogramming therapeutic meant for addressing a major biological mechanism for suppressed immunity in cancer patients.

On July 14 Infinity Pharmaceuticals announced that its shareholders had adopted the merger agreement with MEI Pharma INC, which had been announced previously. It was adopted at the special meeting of Infinity Pharmaceuticals stockholders that was held on the same day. However, it was also noted at the time that the transaction was still subject to the approval of MEI Pharma shareholders.