Why Blonder Tongue Laboratories Inc. (BDR) Stock surged on Friday?

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ASTR Stock

Blonder Tongue Laboratories Inc. (BDR) shares surged 11.04% in after-hours on Friday, August 06, 2021, and closed the weekly trading at $1.71. In the regular trading session on Friday, BDR’s stock gained 19.38% to close Friday’s session at $1.54. The stock volume remained 7.16 million shares, which was higher than the average daily volume of 1.13 million shares within the past 50 days. BDR shares have risen 92.50% over the last 12 months, and they have moved up 29.41% in the past week. Over the past three months, the stock has gained 35.09%, while over the past six months, it has lost 9.41%.

Let’s see what are the latest news about BDR?


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BDR upcoming financial results announcement

Blonder Tongue Laboratories, Inc. (BDR) will report its Second Quarter 2021 Earnings Results on Thursday, August 12, 2021, before market opening. Management will then host a teleconference to discuss the results with the investment community.

Details of the live teleconference:

Date: Thursday, August 12, 2021
Time: 11:00 a.m. Eastern Time (10:00 a.m. CT, 8:00 a.m. PT)
Investor Dial-in (US & Canada Toll-Free): 888-506-0062
International: 973-528-0011
Entry Code: 705019

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BDR received forgiveness loan payment

On July 6, 2021, Blonder Tongue Laboratories, Inc (BDR) received forgiveness of $1,768,762 of loan proceeds previously received under the Paycheck Protection Program.

As previously disclosed, on April 10, 2020, the Company received a PPP Loan of $1,768,762 under the federal PPP Program. The PPP was established as part of the Coronavirus Aid, Relief and Economic Security Act and is administered by the U.S. Small Business Administration (SBA).

BDR partnership with Innovative Systems 

On June 16, 2021, Blonder Tongue Laboratories, Inc (BDR)  partnered with Innovative Systems to launch two new solutions for Blonder Tongue’s NXG IP Digital Video Signal Processing Platform.

BDR Recent financial results announcement

On May 13, 2021, Blonder Tongue Laboratories, Inc announced its financial results for the first quarter ended March 31, 2021.

Q1 2021 financial highlights

  • BDR reported net sales of $3,251,000 for the first quarter of 2021 compared to $4,050,000 for Q1 2020.
  • The company’s gross profit was $1.385 million in Q1 2021 compared to $553,000 in Q1 2020.
  • The company suffered a net loss of $414,000 or $0.04 per share in Q1 2021, compared to $2,080,000 or $0.21 per share in Q1 2020.
  • In Q1 2021, net cash provided by operating activities was $234,000 compared to net cash used in operating activities of $842,000 in Q1 of 2020.

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Conclusion

As of this writing, there was no reason behind BDR exceptional performance on Friday. We hope that it will continue its positive momentum on Monday as well.

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