Small Cap Losers: OTRK, RRGB, SGOC
2:50 pm Thursday, August 19th, 2021
Ontrak Inc (NASDAQ: OTRK) disclosed that it has been notified of a customer’s intent not to continue the Ontrak program past the end of this year; co believes that the notification resulted from reasons specific to the customer’s corporate shift in strategic direction. The contract had been expected to run for three years, dating back to July 2020; co has billed approx. $42 million of the previously-expected $90 million contracts. Co currently expects its remaining customers under existing contracts to contribute nearly $50 million of revs in 2022. The stock is down 44% to $11.84.
Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) missed consensus for Q2 EPS and revs. Overall performance in Q2 was below co’s expectations; factors contributing to performance included “ongoing jurisdictional restrictions and challenging labor availability”. Comparable restaurant revs increased +66.3% yr/yr and decreased 2.4% vs the same period in FY19. Co expects capital expenditures of $45-55 million in 2021.
SGOCO Group, Ltd. (NASDAQ: SGOC) mentioned cautiously in a report from Wolfpack Research. The stock moderates yesterday’s spike. SGOCO Group, Ltd., together with its subsidiaries, engages in the money lending business in Hong Kong and Australia. The company offers mortgage, personal, and corporate loans.
