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Do you prefer low-priced stocks? One thing to watch out for is the possibility of "value traps," or stocks that appear to be undervalued but are really trading at a low price for a negative reason.

We ran a screen on stocks trading under $5 with this idea in mind. We first screened for those with upward momentum, trading above their 20-day, 50-day, and 200-day moving averages.

We then screened these names for those with strong sales trends, comparing growth in revenue to growth in accounts receivable over the last year. Since accounts receivable is the portion of revenue not yet received, and there is no guarantee the money will ever be received, the smaller the portion of revenue made up of receivables the healthier the company's revenue.

We screened for stocks seeing faster growth in revenue than accounts receivable year-over-year, as well as accounts receivable comprising a smaller portion of current assets over the same time period.

Interactive Chart: Press Play to compare changes in market cap over the last two years for the stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.

(Access iframes here)

Do you think these stocks are relatively cheap? Use this list as a starting point for your own analysis.

List sorted by difference between growth in revenue and accounts receivable.

1. XOMA Ltd. (NASDAQ:XOMA): Engages in the discovery, development, and manufacture of therapeutic antibodies to treat inflammatory, autoimmune, infectious, and oncological diseases. Market cap at $176.98M. Price at $2.74. The stock is currently trading 5.71% above its 20-day moving average, 33.00% above its 50-day MA, and 51.75% above its 200-day MA. Revenue grew by 2.6% during the most recent quarter ($9.85M vs. $9.6M y/y). Accounts receivable grew by -40.89% during the same time period ($12.33M vs. $20.86M y/y). Receivables, as a percentage of current assets, decreased from 35.43% to 19.67% during the most recent quarter (comparing 3 months ending 2011-12-31 to 3 months ending 2010-12-31).

2. Gilat Satellite Networks Ltd. (NASDAQ:GILT): Provides Internet Protocol based digital satellite communication and networking products and services worldwide. Market cap at $170.57M. Price at $4.12. The stock is currently trading 1.63% above its 20-day moving average, 2.22% above its 50-day MA, and 4.24% above its 200-day MA. Revenue grew by 41.69% during the most recent quarter ($93.6M vs. $66.06M y/y). Accounts receivable grew by -0.65% during the same time period ($51.65M vs. $51.99M y/y). Receivables, as a percentage of current assets, decreased from 31.2% to 29.65% during the most recent quarter (comparing 3 months ending 2011-12-31 to 3 months ending 2010-12-31).

3. Himax Technologies, Inc. (NASDAQ:HIMX): Designs, develops, and markets semiconductors for flat panel displays. Market cap at $380.38M. Price at $2.14. The stock is currently trading 0.87% above its 20-day moving average, 15.63% above its 50-day MA, and 49.10% above its 200-day MA. Revenue grew by 19.84% during the most recent quarter ($169.23M vs. $141.21M y/y). Accounts receivable grew by 2.8% during the same time period ($181.11M vs. $176.18M y/y). Receivables, as a percentage of current assets, decreased from 36.26% to 35.12% during the most recent quarter (comparing 3 months ending 2011-12-31 to 3 months ending 2010-12-31).

4. Dreams Inc. (NYSEMKT:DRJ): Engages in the manufacturing, distributing, retailing, and selling sports licensed products, memorabilia, and acrylic display cases through various channels, including Internet, brick and mortar, catalogue, kiosks, and trade shows in North America. Market cap at $151.84M. Price at $3.39. The stock is currently trading 17.26% above its 20-day moving average, 25.30% above its 50-day MA, and 46.28% above its 200-day MA. Revenue grew by 23.89% during the most recent quarter ($75.15M vs. $60.66M y/y). Accounts receivable grew by 18.38% during the same time period ($11.72M vs. $9.9M y/y). Receivables, as a percentage of current assets, decreased from 21.31% to 18.68% during the most recent quarter (comparing 3 months ending 2011-12-31 to 3 months ending 2010-12-31).

*Accounting data sourced from Google Finance, all other data sourced from Finviz.

Source: 4 Rallying Micro Caps Under $5 With Positive Receivables Trends