Penny Stock Newsletters
Sino Agro Food, Inc. (PINK:SIAF) Recovers to the $1 Mark
2011 April 28
Sino Agro Food, Inc. (PINK:SIAF) stock price saw unusual fluctuations as the company finally filed its current financial results with the SEC. Around the time of the appearance of the 10-K, SIAF dropped below $1 per share, though as of yesterday the one dollar per share is already recovered.
SIAF closed yesterday session at exactly $1 for a share and with a 1.01% increase in its price. Trading volume was around the average and the market looked consolidated. Although the company has already filed a registration statement for its common stock with the SEC and obviously intends to be a diligent filer from now on, SIAF still carries the “Limited Information” shield on the OTC Markets.
Much higher volatility, as seen on the diverging Bollinger bands, is maybe typical in the case of a company that has just provided current financial reports and reliable information on its business. Thus, it may not be a surprise if SIAF makes more unexpected moves until it finds again a stable price level.
Sino Agro Food operates in China through five subsidiaries engaged in fishery projects, farming of Hylocereus Undatus (known as Bean Capers or Pitaya), dairy cows and cattle farming, manufacturing of bio-organic fertilizer, livestock feed, cash crops farming and beef cattle rearing and fattening. The largest part of the company’s revenues came in the past couple of years from its dairy segment.
For 2010 SIAF reported impressive growth:
*Total revenue grew from $21.7 million to $40.55, or by 87%
*Operational income almost doubled to $18.9 million, net income for 2010 was $12.7 million
*Strong financial position with over $40.8 million in working capital on a consolidated basis
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