May 16, 2021

Stock News Alert: Dogness (International) Corporation (NASDAQ:DOGZ)

Dogness (International) Corporation (NASDAQ:DOGZ) stock observed trading -40.64% off 52-week high price. On the other end, the stock has been noted 161.26% away from low price over the last 52-weeks. The stock disclosed a move of -3.54% away from 50 day moving average and 37.01% away from 200 day moving average. Moving closer, we can see that shares have been trading -0.55% off 20-day moving average. It has market cap of $69.79M.

On Jan. 15, 2021, Dogness (International) Corporation (NASDAQ:DOGZ) a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, declared that it has entered into a securities purchase agreement with certain institutional investors for a registered direct placement of $7.4 million of common shares at a price of $2.15 per share. The Company will issue an aggregate of 3,455,130 common shares and Class A warrants to purchase an aggregate of 1,727,565 common shares to the investors.  The Company will also issue a warrant to purchase 276,410 common shares to the placement agent. The Class A and placement agent warrants are exercisable at $2.70 per share.  The aggregate gross proceeds from the sale of the securities, before deducting fees payable to the Placement Agent and other estimated offering expenses payable by the Company will be approximately $7.4 million.

The net proceeds from this offering will be used for general working capital purposes. The completion of the placement is expected to occur on or about January 20, 2021, subject to the satisfaction of customary closing conditions.

The China based company Dogness (International) Corporation moved with change of -24.68% to $2.03 with the total traded volume of 1846793 shares in recent session versus to an average volume of 953.04K. The stock was observed in the 5 days activity at -9.38%. The one month performance of stock was 12.47%. DOGZ’s shares are at 75.00% for the quarter and driving a 54.36% return over the course of the past year and is now at -3.79% since this point in 2018.  The average volatility for the week and month was at 19.36% and 11.48% respectively. There are 25.91M shares outstanding and 16.85M shares are floated in market.