Notable small cap movers on 2/3
SEV up 51% - Sells and designs motor controllers, sells a lot in major Asian countries. Up from a PR annoucning a production program developing an inverter based on its Gen5 tech. Says the start of production is expected in the fall of 2018, and over the initial 3 year production period expects revenues of $150M to $200M. Revs for the company is growing, last year was around $50M. However, it is still losing money, but an extra $50M per year is a large revenue jump. Hard to predict what will happen here.
ZAIS up 43% - Opened flat, then started running at about 10am. No news saying why it's up. No clear trade here. But since there was no news, expect a fade on Monday.
MYOS up 37% - Stock went up during the day up to $6, for an over 100% gain. There was no news. Then midday announced an offering, selling shares for $4.25 with a single investor. Since it was a single investor, one would think the shares would remain above $4.25, because a single investor would be expected to hold onto the shares and not flip them. But the stock slide to the mid $3s, down to $3.65. It's unlikely it will fall more on Monday, it will probably rally, especially at the open.
ATNM up 32% - No apparent news explaining the rise today. Very heavy volume, mucher higher than the past 4 months, so there must be some news. Read something about a presentation done by the new CMO at the end of January. Maybe some results from that presentation will be revealed this week. No trade here, be on the lookout for news to make a long or a short play.
ESPR up 29% - JMP analyst said that a positive read-thru of Amgen's cardiovascular outcomes trial increases chances that the FDA will approve Esperion's drug. Reiterates $41 PT on ESPR. ESPR opened at $13.77, ended the day at highs, $16.50. This analyst statement came in teh PM, would've been an easy long - hold all day and sell at close. On Monday, it will probably continue uptrend in the morning, then fade to flat.
MDCO up 20% - A midcap company, $3B mc. Went up from Amgen reporting that its drug, Repatha, reduces cardiovascular events. MDCO has a similar drug. This news came under the "hot stocks" chili classification on Fly. The "hot stocks" and "recommendations" news are the ones that are tradable with Fly. Just look for the ones that happen in the AH and the PM, then make the decision to trade on those the next day. Ignore news that happen during market hours, it's too hard to think that fast to make a plan spur of the moment.
BRS up 20% - BRS missed revenue estimates and also seemed to cut guidance a bit. So why is the stock up 20%? News says it's because they had better than expected earnings. Earnings usually don't seem as important as revenues with stocks. They also announced a dividend, maybe that was expected to get cut. It also was provided a debt facility, which shows debt investor confidence.
CLCT up 19% - Up on favorable earnings. It's a company that serves collectibles. Worldwide, collectibles must be hot right now.
PCTY up 16% - BofA raised rating 2 notches from underperform to buy. While Craig-Hallum downgraded. The market agreed with BofA on the earnings.
EMES up 12% - On Jan 20, Goldman ug to buy from neutral. Said sand supply has tightened. Doesn't seem to be any news explaining Friday's rise. It might just be a fund accumulation.
PSIX down 62% - A power systems company. Trading got halted as the accounting firm left, saying previous earnings reports couldn't be relied upon. Company will likely get restructured in bk, and the stock rendered worthless. It took on a loss last quarter, will likely keep taking losses. It closed at lod, watch it fall more on Monday as there will likely be an SEC investigation announced. Although it might get halted on that announcement and stay halted for several months.
BNTC down 29% - It opened about 15% lower than the previous day's close, as it had gone up over 100% on no news. The stock fell to the low $3s at the open. Then it bounced to a high of $3.40 at 9:45am, then quickly faded and continued fading the whole day. If I was trading it? Short at open, then get stopped out? That's a tough one. I guess you usually have to wait for the reversal before getting involved.
IDXG down 27% - In PM, announced offering at $3 per share. No trade here today or tomm. It opened at $3.15, closed at $3.16.
PULM down 24% - Rallied hard in the PM after a big green day before, then instantly faded a little. At 3pm, company announced a secondary at $3.50 per share. They had just done a secondary 3 days earlier at $2.50 per share. Look for the stock to fall below $3.50 on Monday. Back to back secondaries show that management doesn't know what the stock is worth, and is trying to milk it as much as possible.
PTX - down 18%. Lost arbitration with Glaxo, on the hook for $40M. Stock opened at $2.50, closed at $2.44. No trade here, shareholders probably expected them to lose, were good at pricing in the appropriate value. Stock did rally a the open up to a high of $2.98, then faded hard for the next half hour. Don't think there was a trade to make here, don't think you could short the pop because for all an outsider knows, the news could really be good if they were expected to lose the arbitration.
FEYE - down 16%. CFO leaving to pursue another opp. Rev and earnings miss. Stock opened at about the same price as it closed.
NAKD down 13% - Stock opened way up and continued going up for 2 minutes to a high of $4.64 before crashing. It bounced at 9:45am from $3.62 to just over $4, before fading again, and faded the entire day. It really sold off hard right before the close, and closed at the lod at $2.43. This is after going up 100%+ the previous day, and then opening up as much as 90% again.