Following its best week in four months, the Dow rose this morning in early trading and the bulls extended their gains into a new week. Hopefully this week will be as strong for Small Cap Stocks as it was last week. One can only hope.
Small Caps Sport Chalet NASDAQ: SPCHB, ICO Inc. NASDAQ: ICOC, Ultra Clean Holdings NASDAQ: UCTT and QLT Inc. NASDAQ: QLTI all came roaring out of the gate this morning.
And as an encouraging start, buyers today are for the most part holding onto Friday's gains for BioCryst Pharmaceuticals Inc., NASDAQ: BCRX http://www.biocryst.com/ and only giving back around 3% of the pickup. If buyers are aggregating at this price point (around $5.86 a share this morning), the stock could hold this area as its low-end threshold going forward. BCRX was up 45% Friday to close at $6.08. BCRX had traded 716k shares by 11 a.m. EST today, more than half its 3-Month average daily trading volume.
To see a retailer move forward these days is also very encouraging and Sports Chalet Inc., NASDAQ: SPCHB http://www.sportchalet.com/ picked up over 13% ($0.49) this morning in early trading. Now trading in the $3.90 range with a new market cap of $55 million, SPCHB had doubled its 3-Month average daily trading volume this morning and I believe that's due to some of the very aggressive steps the company took in May to tighten its belt and become more effective in its primary markets of California, Nevada, Arizona, and Utah.
One step SPCHB took was getting a handle on its inventory and lowering the amount of winter apparel held, while from January through May, receiving a total of $138.6 million in fresh inventory for the summer. Good move.
SPCHB offers over 50 services for the serious sports enthusiast, including backpacking, canyoneering, and kayaking instruction, custom golf club fitting and repair, snowboard and ski rental and repair, Scuba training and certification, Scuba boat charters, racquet stringing, and bicycle tune-up and repair throughout its 55 locations.
At $3.90, SPCHB is below its 52-week high of $4.52 set on 06-12-09 and far above its 52-week low of $0.40 set on 04-07-09. At $3.90, SPCHB is above both its 50-day and 200-day moving averages. SPCHB has trailing twelve month revenues of $14.12 million.
With ski-season due up three months, and considering SPCHB has remodeled its financing and inventory structure, the stock could move higher as the recession resides.
A 1-YEAR CHART ON SPCHB
Also posting an impressive gain this morning on news of an August 7 Webcast to report its Q3 earnings is ICO Inc., NASDAQ: ICOC http://www.icopolymers.com/. ICOC picked up 22 cents this morning (7.35%) to move it into the $3.13 range with anew market cap of $86.25 million with half of its 3-Month average daily trading volume of 123,344 shares being met by 11 a.m. EST.
With 20 locations in 9 countries, ICOC produces custom polymer powders for the textile, metal coating and master-batch markets. ICOC is also expanding into Africa and Asia. Its typical customers are in oil exploration, plastics and chemicals. As the world gets back to producing, it will need; plastic, chemicals and metals. You get the idea.
At $3.13, ICOC is less than half its 52-week high of $6.72 set on 09-22-08 and triple its 52-week low of $1.03 set on 03-06-09 (a good buy signal). At $3.13, ICOC is ahead of both its 50-day and 200-day moving average. ICOC has trailing twelve month revenues of $373.20 million.
A 1-YEAR CHART ON ICOC
With no official news coming directly from the company this morning, Ultra Clean Holdings Inc., NASDAQ: UCTT http://www.uct.com/ picked up a nice gain at the open and is holding in mid-day trading at $3.33 a share with an increased market cap in the range of $70 million. Trading is brisk on this stock. UCTT has a 3-Month average daily trading volume of 146, 942 shares.
UCTT develops and supplies critical delivery subsystems to OEM manufacturers of semiconductor capital equipment in North America, Europe, and Asia. UCTT provides all the hardware you see in those 'clean rooms' and assembly lines on television. UCTT has a supply chain pipeline that is established and can rapidly expand. Impressive.
At $3.33 a share, UCTT is far below its 52-week high of $8.81 set on 08-25-09 and is well above its 52-week low of $0.78 set on 03-03-09. At $3.33, UCTT is above both its 50-day and 200-day moving average. UCTT has trailing twelve month revenues of $196 million. UCTT's share out versus float ratio is near-parity.
A 1-YEAR CHART ON UCTT
Finally today, another company that is picking up gains on official company news; QLT Inc., NASDAQ: QLTI http://www.qltinc.com/. QLTI picked up over 7% ($0.17) in early trading. QLTI is currently trading in the $2.50 range with a new market cap of $136 million. QLTI picked up half of its 3-Month average daily trading volume of 245,008 shares by mid-morning.
QLTI is a bio-pharmaceutical company that engages in the discovery, development, and commercialization of pharmaceutical products, primarily in the field of ophthalmology. QLTI products in development include Visudyne therapy; punctal plug drug delivery system, an invasive drug delivery system for delivering various drugs topically to the eye through controlled sustained release to the tear film, under Phase II studies targeting the treatment of glaucoma and ocular hypertension; and QLT091001, a Phase Ia orally administered synthetic retinoid replacement therapy for 11-cis-retinal, which is a key biochemical component of the visual retinoid cycle.
At $2.50, QLTI is below its 52-week high of $4.09 set on 09-08-08 and above its 52-week low of $1.40 set on 03-12-09 (again, a good buy signal). At $2.50, QLTI is above both its 50-day and 200-day moving averages. QLTI has trailing twelve month Revenues of $54 million. QLTI's shares out versus float ratio is a bit lopsided. I would like to see more shares in the QLTI float.
A 1-YEAR CHART ON QLTI
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