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MDIA - The KaaBlamm was my jaw dropping to the floor when I saw the price. Unfortunately I sold that one a long time ago.
UUU $7.28 - $1.72, low floater actually down on a lousy quarter. Something actually makes sense. Tempting to short, but knowing you're just one Mr. Investor Pro pump away from getting your head ripped off, gives a person pause.
MXC - It had that big low-float pop in the after hours session the day their earnings came out, but since then it's been floundering. I found that a little surprising. These low floaters can be unpredictable to say the least.
It was nice to see a large buy order showing up in the pre-market this morning. I unloaded some and have been doing some trading. You gotta love these zero dollar commissions!
Oil has had one heck of a run. In April of last year the futures went negative, and now we're in the $70s.
MXC - $12.30 + $3.41, Looks like the low-float maniacs have it firmly under their control. With total shares outstanding of 2.07M and a float of only 847k, it could get interesting.
SVT - That's a nice pay package for Mr. Trbovich. And the good news for him is that he won't be missing a paycheck, at least for right now, since the board put him on PAID administrative leave.
SVT - Montana Advisors Demands Sale of Servotronics
Business Wire - Jun 16 10:06 EDT
MIAMI--(BUSINESS WIRE)-- Montana Advisors issues open letter to the Board of Directors of Servotronics, Inc (NYSE: SVT):
Dear Members of the Board of Directors:
As a significant stockholder of Servotronics, Inc (NYSE: SVT) or ("The Company") we are beyond troubled by the recent lawsuit filed by an employee of the Company. We believe there have been numerous breaches of fiduciary duty by management and most importantly the Board. Upon reading the lawsuit in detail with our legal counsel, Montana has come to the conclusion that existing management can no longer be trusted to run our Company. In addition, we also believe the Board can no longer be trusted to provide oversight that is in the best interest of shareholders. It is clear that Servotronics is not run in the best interest of shareholders, and rather it is run as a private Company for the benefit of one person, Mr. Kenneth Trbovich. We demand the Board form a special committee to begin an immediate sale process of the Company to the highest bidder.
Should you ignore this, we will be forced to pursue all available legal measures, including holding each director liable for breaches of fiduciary duty. It is imperative that the Board act now.
We look forward to hearing from you in a timely manner.
Respectfully,
Kunal Mehta
RFIL - Traded up into the 10s yesterday after hours. I guess some folks weren't paying attention to the one times in there. I agree that it doesn't seem like a great bargain in the 8s. This 5G bonanza always seems to be in the distance.
As you mentioned the backlog is very strong, and this from the CEO on the cc is also encouraging:
"While it’s tough to predict timing on certain larger orders and the related fulfillment, with what we know today, we expect to see a steady increase over the back half of the year, with continued sequential revenue growth in both Q3 and Q4."
Swampboots, it sounds like you took a trip in the way back machine. I haven't kept track of that portfolio since I ended the experiment.
That sounds shady as hell. That article should be subtitled, "The fleecing of John Q. Public".
That is amazing especially when you consider the fact that oil futures went into negative territory in April of last year.
https://www.bloomberg.com/news/articles/2020-04-20/negative-prices-for-oil-here-s-what-that-means-quicktake
BBW $16.52 + $2.45, killer alert yesterday, Nelson. It just keeps going up. I bought some after seeing your post, but sold way too soon yesterday.
FRD - I added some more today, also. The hot-rolled coil steel futures prices bumped up again yesterday.
https://www.investing.com/commodities/us-steel-coil-futures-historical-data
BGFV - That's probably because DKS reported record numbers this morning:
https://www.yahoo.com/now/dicks-sporting-goods-reports-record-113000649.html
FRD - That's a good question. They owned 542k shares as of last Friday. I was looking back at some of the companies where DPW acquired stakes previously. This value stock stake in FRD seems a bit out of the ordinary for them. The other stakes I noticed were in very low-priced or very low-float stocks or a combination of both.
I really wouldn't want to hazard a guess as to whether they are selling today or not. It definitely seems like someone is keeping a cap on the stock, though.
Etrade - I called again this morning to complain about the alerts still not working on the pro platform. The rep put me on hold to find out when it is supposed to be resolved. He came back and told me, "within the next 30 days"! Unbelievable!
I asked him to have my "relationship manager" give me a call. It will be interesting to see what he has to say about this. This is a bunch of crap.
FRD - Stellar guidance:
Friedman Industries Provides Fourth Quarter Earnings Guidance and Announces New Sinton Facility
GlobeNewswire - May 25 09:00 EDT
LONGVIEW, Texas, May 25, 2021 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE – American: trading symbol FRD), a manufacturer and processor of steel products, today announced guidance for its fiscal fourth quarter ending March 31, 2021, and announced plans for a new facility in Sinton, Texas to support future growth.
EARNINGS GUIDANCE
Friedman Industries announced guidance for its fourth quarter ending March 31, 2021, and expects to issue audited results in late June. The Company expects fourth quarter net earnings to be in the range of $9.5 million to $10.5 million, making it the most profitable quarter in Company history. The estimated net earnings translate to estimated diluted earnings per share in the range of $1.37 to $1.52. Comparatively, diluted earnings per share for the third quarter ending December 31, 2020 was $0.30.
“Rapidly increasing steel prices and our strategic decisions to implement risk management practices and expand our supply chain options ahead of a tightening of global supply are the primary factors driving the significant increase in expected fourth quarter results compared to those of the prior quarter,” said Michael J. Taylor, President and Chief Executive Officer.
“As we enter our 2022 fiscal year, we expect further improvement in operating results for the first quarter ending June 30, 2021 compared to the fourth quarter, due primarily to further escalation of steel prices, which has created a strong margin environment,” Taylor continued.
Estimates for the quarter ended March 31, 2021 are unaudited and subject to adjustment pending the completion of the Company’s financial statement audit. Statements about the quarter ending June 30, 2021 are based on expectations given current market conditions, which are subject to change.
NEW FACILITY PLANNED FOR SINTON, TEXAS UPGRADES PRODUCT PORTFOLIO AND ENABLES COMPANY TO SERVE BROADER CUSTOMER BASE
The Company is excited to announce plans for a new facility in Sinton, Texas, which is expected to be well positioned to capture additional demand growth with an expanded portfolio and geographic advantages. Steel Dynamics, Inc. (“SDI”) has invited Friedman Industries to locate the new facility on the campus of its new flat roll steel mill currently under construction in Sinton, Texas. SDI’s Sinton mill will be the most advanced electric arc furnace mini mill in the world and will have an estimated annual capacity of 3 million tons with capabilities of producing flat roll up to 1” thick and 84” wide at 100,000 psi yield.
Friedman Industries’ Sinton location will consist of an approximately 70,000 square foot building located on approximately 25 acres leased from SDI under a 99-year agreement. The Company has selected Red Bud Industries to build one of the world’s largest stretcher leveler cut-to-length lines, capable of handling material up to 1” thick, widths up to 96” and yields exceeding 100,000 psi.
“This facility will expand the size range and grades of materials we can deliver to our coil segment customers, while extending our competitive footprint to better serve customers in the Southwest United States and Mexico,” commented Taylor. “The strategic co-location with SDI will enable us to capture freight efficiencies that will enhance our competitiveness and reduce our environmental footprint. We believe this modest strategic investment will create significant long-term value for our shareholders, enabling Friedman to both better serve existing customers and capture new opportunities in a region that is seeing significant long-term business investment. We would like to thank the SDI team for this opportunity and look forward to the potential this investment creates for Friedman Industries and its shareholders.”
The Company expects the location to commence operations in April 2022, and estimates the total cost of the project to be $21 million. On May 19, 2021, Friedman Industries signed a credit agreement and related documents with JPMorgan Chase Bank N.A. for a $40 million 5-year asset-based revolving line of credit facility (“ABL Facility”). The Company expects to fund the Sinton capital expenditure through a combination of cash generated from operations and funds drawn under the ABL Facility. More information about the ABL Facility can be found in the Company’s Form 8-K filed with the SEC on May 25, 2021.
Friedman Industries also has coil product locations in Hickman, Arkansas and Decatur, Alabama.
STARTUP OF NEW DECATUR, ALABAMA EQUIPMENT
In March, the Company’s new stretcher leveler cut to length line was commissioned at its Decatur, Alabama coil processing plant. After a period of equipment tuning and operator training, the Company has expanded its commercial efforts during May 2021.
Taylor commented: “We are incredibly pleased with the response we are seeing and the potential we anticipate from this new equipment that positions us well in a favorable demand environment.”
ABOUT FRIEDMAN INDUSTRIES
Friedman Industries, Incorporated, headquartered in Longview, Texas, is a manufacturer and processor of steel products with current operating plants in Hickman, Arkansas; Decatur, Alabama and Lone Star, Texas. The Company has two reportable segments: coil products and tubular products. The coil product segment consists of the operations in Hickman and Decatur. The Hickman facility operates a coil-to-coil temper mill and a corrective leveling cut to length line. The Decatur facility operates a stretcher leveler cut to length line. The tubular product segment consists of the operations in Lone Star where the Company manufactures electric resistance welded pipe and distributes pipe.
Etrade - The alerts haven't been working for me since Monday. I called Tuesday and after troubleshooting for a half hour, the rep contacted tech support and was told it was a known problem and they are working on it. I took yesterday off, and I see today it still isn't working. I called again, and I was told the vendor is working on it!
FRD - DPW acquires 6 percent stake:
https://www.sec.gov/Archives/edgar/data/0000039092/000121465921005346/r513212sc13d.htm
Now we know the reason for the huge volume and price surge on May 3. They didn't exactly ease into the position.
I think the low-priced issues in general have cooled. I just did a screen for listed stocks under $2 and it spit out 303 of them. There were 14 unchanged, 39 up, and 250 down today. Those are sobering numbers considering the major averages were all up today.
I welcome the change since the microcaps have seemed really over-priced for a while now.
I notice when companies report a bad quarter recently there is a price to pay, whereas for a while they were getting a slap on the wrist.
Etrade was very slow this morning for me. It hung up a few different times while in the process of trying to display the order preview window. It seems to be better now.
BGFV - I was surprised it got down there, also. I picked some up in the 20s and 21s. That was one awesome earnings report.
They blew away their and the analyst's estimate for the quarter. They guided way above the next quarter's analyst's estimate. They issued a $1.00 special dividend, and they upped the regular quarterly dividend.
Big 5 Sporting price target raised to $26 from $19 at Lake Street
TheFlyontheWall.com - May 05 09:11 EDT
Lake Street analyst Mark Smith raised the firm's price target on Big 5 Sporting to $26 from $19 and keeps a Buy rating on the shares following Q1 results that he said were "well above our expectations and management's guidance." Big 5's same-store-sales guidance for Q2 gives him confidence that the strong momentum continues and while demand in certain product categories may slow, Smith thinks overall product demand will remain above pre-COVID levels, he said.
OT - I'm glad he's not a sore loser.(eom)
HBP - Thanks for the cc notes. I intended to listen in, but I forgot. I traded this one both after hours yesterday and today. I am really enjoying these no commission trades!
I like the sound of this quote from the CEO in the earnings PR:
"I am proud of the entire organization as our collective efforts have created a very bright future for our company and our stakeholders.”
ISNS - Doesn't make much sense. It went even higher after hours. Seems to be coming down now after they reported their earnings. It's just another low-float runner.
RHE with their 1.5M share float went nuts today.
ISNS - Back above $8 again after dropping below $7. Lots of volatility.
ISNS - This is a great example of how unpredictable these low floaters can be. It looked comatose for a long time and then spiked up out of nowhere.
ISNS - I picked up a small position this morning. I think with the newly announced fat dividend and the low float, it is worth a shot. In the last couple years cash flow from operations would have pretty much covered this new dividend.
ISNS - It will be interesting to see how it does tomorrow. Like you said, their last quarter was lousy.
What it does have going for it is that new dividend that yields over 10 percent on the closing price. The other thing is the 2.35M share float.
It would be great to have a working crystal ball in the office.
FAMI $0.35 - $0.44 Creating shareholder value?!?!
Share price closed yesterday at $0.79. Company had 28 million shares outstanding. After yesterday's close they announced an offering of 140 million shares at $0.30. That's what I call creating shareholder value!
It definitely pays to have brokerage accounts at different brokers. It seems they all have their unique quirky rules.
MTSL $2.92 - That was a quick fall from grace. It's back to within a nickel of where it was before the transaction was announced. Activist investor David Lazar unloaded a ton of shares. It makes you wonder who knew what and when.
SMIT - These guys sold one of their businesses for $10.5M in 2019:
https://www.globenewswire.com/news-release/2019/11/27/1953202/0/en/Schmitt-Industries-Completes-Sale-of-SBS-Business-Line-for-10-5-Million.html
Then they purchased a bankrupt creamery in 2020:
https://www.prnewswire.com/news-releases/schmitt-purchases-ample-hills-creamery-inc-assets-301091603.html
And the results are not pretty. To say they are getting creamed is an understatement:
https://www.sec.gov/ix?doc=/Archives/edgar/data/922612/000119380521000041/e620203_10q-sii.htm
https://www.sec.gov/Archives/edgar/data/922612/000092189521001067/nt10q12252001_04152021.htm
ASTC - Due to demand, they more than tripled the size of the offering! Just when you think you've seen it all....
Astrotech Increases Previously Announced Bought Deal Offering of Common Stock to $32.5 Million
Business Wire - Apr 07 22:32 EDT
AUSTIN, Texas--(BUSINESS WIRE)-- Astrotech Corporation (NASDAQ: ASTC), today announced that, due to demand, the underwriter has agreed to increase the size of the previously announced public offering and purchase on a firm commitment basis 21,639,851 shares of common stock of the Company at a price to the public of $1.50 per share, less underwriting discounts and commissions. The closing of the offering is expected to occur on or about April 12, 2021, subject to satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.
The Company also has granted to the underwriter a 30-day option to purchase up to an additional 3,245,977 shares of common stock at the public offering price, less underwriting discounts and commission.
The gross proceeds of the offering are expected to be approximately $32.5 million, before deducting underwriting discounts and commissions and offering expenses payable by Astrotech and assuming no exercise of the option to purchase additional shares. Astrotech intends to use the net proceeds of the offering for general corporate purposes, working capital, and capital expenditures.
The securities described above are being offered by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-253835) filed with the Securities and Exchange Commission (SEC) and declared effective on March 15, 2021 and the accompanying prospectus contained therein. The offering of the securities is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to this offering were filed with the SEC and are available on the SEC’s website at www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus relating to this offering, when filed, may be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by e-mail at placements@hcwco.com or by calling (212) 856-5711.
This announcement is neither an offer to sell, nor a solicitation of an offer to buy, any of these securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation, or sale is unlawful. Any offer, if at all, will be made only by means of the prospectus forming a part of the effective registration statement.
About Astrotech Corporation
?Astrotech (NASDAQ: ASTC) is a science and technology development and commercialization company that launches, manages, and builds scalable companies based on innovative technology in order to maximize shareholder value. Astrotech is headquartered in Austin, Texas. For information, please visit www.astrotechcorp.com.
This press release contains forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, including regarding the anticipated closing of the offering. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include, but are not limited to, the completion of the offering, the satisfaction of customary closing conditions related to the offering and the intended use of net proceeds from the public offering, the Company’s ability to obtain additional financing, the severity and duration of the COVID-19 pandemic and its impact on the U.S. and worldwide economy, the timing, scope and effect of further U.S. and international governmental, regulatory, fiscal, monetary and public health responses to the COVID-19 pandemic, whether we can successfully complete the development of our new products and proprietary technologies, whether we can obtain the FDA and other regulatory approvals required to market our products under development in the United States or abroad, and whether the market will accept our products and services, market and other conditions, as well as other risk factors and business considerations described in the Company’s Securities and Exchange Commission filings including our annual report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. In addition, any forward-looking statements included in this press release represent the Company’s views only as of the date of its publication and should not be relied upon as representing its views as of any subsequent date. The Company assumes no obligation to update these forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210407006042/en/
Eric Stober, Chief Financial Officer, Astrotech Corporation, (512) 485-9530
Source: Astrotech Corporation
Copyright Business Wire 2021
ACY - This is a good illustration of why it is so dangerous to short low float stocks no matter how horrible the news might be. I'm sure there's some guy short 10k shares wondering WTF just happened.
VTSI - Traded as high as $14.85 in the pre-market. Strange things happen in the wee hours of the morning.....
Thanks, Michael. It's very rare when we get out at the top. I guess we should just be thankful when we book a profit. It sure beats the heck out of taking a loss!
SPRT - They just shook me out in the lower 7s. It's a profit, so can't complain.
SPRT - I guess MARA with a $4.25B market cap and RIOT with a $4.1B market cap would have been better examples than NCTY in regard to valuation.
SPRT - Sounds like you booked a healthy profit, and that's what counts at the end of the day. You really can never tell where these news-driven stocks will go in the short term.
I'm definitely not in it on a valuation basis. I think bitcoin is the biggest bunch of nonsense ever, but obviously there are many true believers out there. I'm in on the bitcoin hype and all the new day traders out there that I think will be chasing it.