These small caps are firing after earnings surprises

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TCON – Up over 100% in pre-market after reporting better than expected earnings

MRAI – Up over 80% in pre after filing to withdraw its stock offering

DRCT – Up over 50% in pre after reporting better than expected earnings

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TCON – Up over 100% in pre-market after reporting better than expected earnings

TRACON Pharmaceuticals (TCON) is a biopharmaceutical company that focuses on the development and commercialization of novel targeted therapeutics for cancer in the United States.

Yesterday, in the afterhours TCON reported Q3 earnings of $0.29 vs -$0.30 a year prior. THis represents a 196.67% year over year increase.

In addition, this morning it was reported that H.C. Wainwright reiterated its Buy rating on TCON and gave it a $7 price target.

The stock is trading up over 100% in pre-market around $0.32 this morning.

The $0.35 area was support in the pre-market and now becomes a level of potential resistance.

Above it, targets to the upside are $0.37 and $0.40 with the pre-market high of $0.4350 above that. Beyond that, $0.50, $0.60, $0.70 and $0.80 come into play.

Below $0.35, there is potential support at $0.3150, $0.30, $0.27, $0.20 and then a gap to fill at $0.16.

MRAI – Up over 80% in pre after filing to withdraw its stock offering

Marpai, Inc (MRAI) is a technology-driven healthcare payer that focuses on providing services to the self-insured employer market in the United States and Israel. The company offers ancillary services, such as care management, case management, actuarial services, health savings account administration, bill review and cost containment services. It also develops artificial intelligence and healthcare technology.

By doing this, it is withdrawing its stock offering, meaning its less likely for the company to issue more stock and dilute existing shareholders which could be weighing on the stock price.

The stock is up over 80% in pre-market after the filing.

$0.70 was an area of resistance in the after-hours and now becomes a potential level of support.

Above it, targets to the upside are $0.80, $0.85 and then the pre-market high at $1.02. Beyond that, $1.50 and $2 come into play.

Below $0.70, there is potential support at $0.63, $0.60 and then a gap to fill at $0.3787.

DRCT – Up over 50% in pre after reporting better than expected earnings

Direct Digital Holdings (DRCT) operates as an end-to-end full-service programmatic advertising platform. The company’s platform primarily focuses on providing advertising technology, data-driven campaign optimization, and other solutions to underserved and less efficient markets on both the buy- and sell-side of the digital advertising ecosystem.

In the after-hours yesterday, DRCT reported Q3 2023 EPS of $0.23 vs $0.05 expected, on revenue of $59.47million vs $34.48 expected. The company also guided that it sees full year 2023 revenue of $170million-$190million vs the $127.98million estimate.The earnings estimate beat expectation by 360% and the full year guidance is 50% above estimates.

The stock traded over 50% higher in pre-market after the news.

The $3.60 level acted as resistance in the after-hours and pre-market before DRCT broke higher, and it now is a potential area of support.

Above it, targets to the upside are $4 and then the pre-market high at $4.12. Beyond that, $4.50, $5 and $6 come into play.

Below $3.60, there is potential support at $3.40, $3.20, $3 and then a gap fill at $2.61.

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