Smith-Midland Uplisting to The NASDAQ Capital Market

Accesswire - Nov 12 08:00 EDT


MIDLAND, VA / ACCESSWIRE / November 12, 2020 / Smith-Midland Corporation (NASDAQ:SMID), which develops, manufactures, licenses, rents and sells a broad array of precast concrete products, services, and systems for use primarily in the construction, transportation and utilities industries, is pleased to announce that NASDAQ approved the Company's common stock for listing on The NASDAQ Capital Market. Smith-Midland will continue trading under its current symbol SMID. Trading on The NASDAQ Capital Market is expected to commence during the week of November 16, 2020.

"Smith-Midland's uplisting to The NASDAQ Capital Market is an important step in our journey to help facilitate our next phase of growth and to increase long-term shareholder value," stated Chief Executive Officer and President, Ashley Smith. "Since inception in 1960, our expansion and diversification of products has continuously evolved as we leverage creative problem solving, engineering and expert craftsmanship in our designs. We are humbled by this monumental achievement, and remain committed to innovation, quality and service as the cornerstones of our business. I want to thank our dedicated team members and our shareholders for their support in our process to increase long-term shareholder value."

"NASDAQ is the ideal platform for the continued growth of Smith-Midland," said Chief Financial Officer, AJ Krick. "The benefits of uplisting include broadening our universe of potential shareholders, enhanced visibility within the investment community, and the opportunity to increase liquidity of the stock."

About Smith-Midland Corporation
Smith-Midland develops, manufactures, licenses, rents and sells a broad array of precast concrete products, services, and systems for use primarily in the construction, transportation and utilities industries. Management and the board own approximately 17.5 percent of SMID stock, aligning with shareholder values. More information is available at www.smithmidland.com

Forward-Looking Statements

JRSH - I agree, Nelson. I thought the quarter was good, but the guidance was kinda funky especially since they are saying their factory will be running full bore through the summer of 2021. Good chance they are sandbagging. I haven't listened to the cc yet. I sold a few pre-market, also. I'm holding the rest for now.

FKWL $17.50 - You would think this one might have considerable downside now that we seem to be turning the corner on covid. It is sitting pretty close to the 52-week high.

The potential merger is the wildcard. There is no telling whether or not it will happen and if it does, how it will be perceived.

The float here is only 1.84M shares. The usual reaction to today's earnings news would be a sharply higher price. It has traded 525k shares so far this morning. You have to wonder how many people are underwater from the big move on the merger news. Unfortunately you have some more who are underwater from the pre-market prices this morning.

I think it has a good shot at moving higher, but right now it's not far from the low of the day.

UUU - On October 29, on the merger news, it traded above $5 on volume of over 72M shares. I think the strange reaction this morning is because a lot of those people who bought at higher prices and were stuck in the stock are unloading today.

ELTK - Interesting scenario. I hold a small position. They did another rights offering in April of 2019 raising $3.4M. Nistec, the controlling shareholder scooped up the majority of it. They have done a nice job cleaning up their balance sheet through profits and the sale of equity.

The float is still very low at 1.29M, also.

In June, the CEO said "During this year, we plan to significantly increase our investment in new equipment and the expansion of our facilities and infrastructure, in order to support our continued growth, despite the impact of the Covid-19 pandemic." So your expansion rationale makes sense.

You would think they would have at least a decent quarter on the way....

CTHR - Nelson, I added below a buck today. I listened to a replay of the cc and didn't hear anything I thought was concerning. They say they are well set up for the holiday season. Their new lab grown diamond offering could be a big positive if it's well received.

Word on the street is that you've had a pretty good year, Nelson, so I would recommend the 2 1/2 ctw lab grown diamond ring for that someone special in your life. I put a link down below for your convenience:

https://www.charlesandcolvard.com/caydia-lab-grown-diamond-signature-solitaire-engagement-ring-101014-r-au-wht-18k-cu-d-0251

I'm looking at a lot of these earnings reports lately with a jaundiced eye. Many of these companies have sharply lower expenses due to layoffs, cutting back on product development, holding off on maintenance, less travel, pay cuts, etc. This has juiced the bottom line nicely for some companies. How long can this go on?

At one point last night, Betfair gave Trump a 74 percent chance of winning. Currently they give him an 18 percent chance.

A gambler's money has no home!

PMTS - Well, maybe their motto is: You gotta spend money to make money!

PMTS - Great quarter and nice pop on the news. The detracting factor is that their negative equity is downright scary.

TAIT - I picked some more up today. Company has an awesome balance sheet and always seems to have strong operating cash flow to easily cover their dividend.

At the current $2.50 price, the yield is a tasty 6.4 percent. It's not the most exciting stock out there, but probably not a bad place to park some excess cash.

I don't trust it either. I wouldn't be overly surprised to see the market end up negative on the day. On the flip side, I wouldn't be surprised if the market doubled its current gains.

I'm not making any big bets either way. I think we could be in for a wild, lurching ride in the short term.

ESCA PR:

https://www.prnewswire.com/news-releases/escalade-reports-consecutive-record-setting-quarters-with-third-quarter-financials-301162471.html

BGFV - Nice earnings report and dividend raise. The guidance is concerning to me, also. This blurb especially:

"So long as conditions relating to the COVID-19 pandemic, including any regulations issued in response to the pandemic, or other conditions do not materially impact the Company’s ability to continue to operate its stores, the Company believes it is reasonable to expect same store sales over the remainder of the fiscal 2020 fourth quarter in the range of -5% to +5% compared to the comparable period during the prior year."

JRSH - Jerash Holdings initiated with a Buy at Aegis

TheFlyontheWall.com - Oct 27 09:30 EDT

Aegis analyst Rommel Dionisio initiated coverage of Jerash Holdings with a Buy rating and $8 price target.

BGFV - You might be right, Cliff. If you go to their home page and scroll down to Trending Categories you will see a Lakers T-shirt as the picture for the Fan Gear category. Unfortunately if you click the link there are no Lakers items. Maybe they did sell out online.

They do have a Dodgers Gear category with some shirts and hats.

ORBN - What a whopper of a quarter:

https://www.businesswire.com/news/home/20201023005110/en/Oregon-Bancorp-Announces-Third-Quarter-Earnings

That is a head scratcher. (eom)

BGFV - I am on a desktop looking at the reviews for the Alhambra, CA store. This woman is saying she bought Lakers T-shirts there three days ago.

BGFV - Lakers gear:

Click this link and then click newest:

https://www.google.com/search?client=firefox-b-1-d&sxsrf=ALeKk01jywQzvqM9ybS4QGDfMGwYuX4kPw%3A1603384863840&ei=H7aRX4bcMtDh-gS42a2oBQ&q=big+5+sporting+goods+-+alhambra+alhambra&gs_ssp=eJzj4tZP1zcsSSmsqqpKMmC0UjWosDBINko2NUk0SzNKMk9MNLcCChkmGSQamRknmxmZmaaZJ3ppJGWmK5gqFBfkF5Vk5qUrpOfnpxQr6Cok5mQk5iYVJcIZAEKEHbw&oq=big+5+sporting+goods+-+a&gs_lcp=CgZwc3ktYWIQARgEMhAILhDHARCvARAUEIcCEJMCMggILhDHARCvATIICC4QxwEQrwEyCAguEMcBEK8BMggILhDHARCvATIICC4QxwEQrwEyCAguEMcBEK8BMggILhDHARCvAToECAAQRzoOCC4QxwEQrwEQyQMQkwI6BggAEBYQHjoLCC4QxwEQrwEQkwJQx6kBWIi5AWD6zgFoAHACeACAAZQBiAGEGJIBBDAuMjiYAQCgAQGqAQdnd3Mtd2l6yAEIwAEB&sclient=psy-ab#lrd=0x80c2c54a6f2b7aa7:0x81b0a263c6265f7a,1,,,

BGFV - That's encouraging, Cliff. Strange reaction so far this morning as hweb pointed out earlier.

BGFV just seems to swing wildly, and it's tough to make a lot of sense out of the daily moves.

BGFV - No, I just got what I posted. (eom)

BGFV - Lake Street initiates with Buy rating - $15 Target

Lake Street analyst Mark Smith initiated coverage of Big 5 Sporting with a Buy rating and $15 price target. With the pandemic driving demand for sporting goods, Smith views the company's convenience factor as a small-footprint, neighborhood retailer being attractive to consumers. Big 5 has been able to maintain a healthy store base and grow sales, steering "well-clear of the retail graveyard" that has clamed rivals such as Sports Authority, Sports Chalet, G.I. Joe's, MC Sports, City Sports and Modell's, Smith added.

NTWK - Surged as high as $5.53 this morning on the deployment of the second phase of a previously announced contract. I took the opportunity to unload.

https://www.globenewswire.com/news-release/2020/10/21/2111791/0/en/NETSOL-s-NFS-Ascent-Retail-Platform-Goes-Live-in-China-for-Major-Global-Auto-Captive.html

RELV - What a bummer. This low floater is giving up its listing. Where's the fun in that?

FSI - Tucked some away at $2.30 this morning. They pre-announced Q3 revenues last night. Between the strong balance sheet and the current wild trading in the low-priced issues, I think this one will see higher prices shortly.

https://stockhouse.com/news/press-releases/2020/10/15/fsi-announces-top-line-revenue-for-third-quarter-2020

BGFV - U.S. retail sales increased 1.9% in September, the Commerce Department reported Friday, as consumers spent strongly on vehicles, clothing and sporting goods.

https://www.census.gov/retail/index.html

AFI, Nice one, Nelson. Pretty good for a guy who can't spell exercise!

Interesting about the co-ops. I firmly believe that all companies and employees would be better served if the employees had some sort of ownership stake in the companies where they work.

Paying your employees a straight wage with no ownership in the company is a great way to achieve mediocre results or worse in my opinion.

BGFV - Another good sign:

Yeti stands to benefit from increased interest in camping, says Jefferies

TheFlyontheWall.com - Oct 09 08:51 EDT

Jefferies analyst Randal Konik calls out several data points that suggest robust growth in camping trends and signals that new tent campers are likely to continue camping in 2021. He sees Yeti as a beneficiary of this "mega-trend" in camping and outdoor recreation, arguing that its ongoing innovation and pivoted marketing strategy position it for continued market share gains. Konik keeps a Buy rating and $70 price target on Yeti shares.

CPSS - Nice job, Nelson. I bought this one multiple times over the years, and I don't think I ever made a dime. So, of course, when a big announcement hits that actually moves the stock, I am not invested!

BGFV bouncing back nicely today. I had to go to the post office about a mile from a Big5 yesterday, so I decided to surveil their parking lot.

Business was very steady. People seemed to be buying a lot of shoes among other things.

EDUC - Definitely a nice quarter for them.

They raised the dividend, and the next quarter is seasonally strong.

The thing that still concerns me, though, is the sequential decline in revenues from July to August. Last year August was a better revenue month than July.

With the recent run into this report, it will be interesting to see where it ends up today.

I've noticed some of that today, also. APWC and CHNR both bolted up this morning for no apparent reason.

You can't argue with crazy people. The only way to satisfy them is to sell them your stock at inflated prices or buy from them when they are throwing it away for no good reason.

I saw it, and it was pretty good. Some pretty funny moments in that one. The trailer itself is pretty funny.

That's great, Nelson. I'm glad to hear you have a $22 billion multi-national company standing behind your purchases!

LUVU - I was surprised to see Church & Dwight and Reckitt Benckiser in the list of companies in the sex toys market. Interesting.

LUVU - Well, I don't put too much credence in the market price. I'm an egomaniac who thinks I know the real value. Ha! Ha! Ha! Ha!

LUVU - Gracias for the info on LUVU. I bought a few. I'm not too impressed with their balance sheet (what do you expect from a 12-cent stock), but if they keep churning out the profits, they should be able to clean it up fairly quickly.