Pixelworks, Inc. (NASDAQ:PXLW) Breaks Out?

Pixelworks, Inc. (NASDAQ:PXLW)

Pixelworks, Inc. (NASDAQ:PXLW) has performed well over the past quarter (+37.23%), year (+79.17%), and also YTD (+38.21%). Today volumes were strong and PXLW reached over the analyst’s consensus price target of $4.50. The average daily volume figure for PXLW is 339,500 but with almost an hour of trading left over 1.5 million shares had traded hands and PXLW had gained over 15%.

At the end of January, Pixelworks, Inc. (NASDAQ:PXLW) released their Q4 and full year financials. After that well received news, PXLW shares gained over 35% during the month of February. It is obvious that traders respond to news on PXLW shares which is what makes today’s price action curious. There is no news on the wires or chat boards.

The Average True Range (ATR) for PXLW is $0.21 which is expected given a stock with a price below $5. The ATR is used as a measure of a stock’s volatility and is a calculation based on the highs and lows a stock has reached over the trading day(s). Today the difference between the day’s high and low is $0.90 – more than four times the ATR.

Traders may be playing on the 52-week high figure which could represent a break-out. Prior to today’s trading shares of Pixelworks, Inc. (NASDAQ:PXLW) were less than 1% away. Some experts believe that traders are pushing the stock over that level to entice other traders, or trading programs, to recognize the price action breaking that high and buying into a momentum play. Volumes might point to some support for this – today’s volumes are over 5 ½ times the average daily volume.

3/8/2017
Ticker Symbol PXLW
Last Price a/o 3:31 PM EST  $                      4.44
Average Volume                    339,250
Market Cap (mlns)  $                  114.20
Sales (mlns) $53.40
Shares Outstanding (mlns) 29.51
Share Float (mlns) 23.71
Shortable Yes
Optionable Yes
Inside Ownership 3.00%
Short Float 3.50%
Short Interest Ratio 4.56
Quarterly Return 37.23%
YTD Return 38.21%
Year Return 79.17%

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

ParkerVision, Inc. (NASDAQ:PRKR) Again Prevails over Qualcomm (NASDAQ:QCOM)

ParkerVision, Inc. (NASDAQ:PRKR)

ParkerVision, Inc. (NASDAQ:PRKR) is experiencing massive volumes on the back of some favorable rulings by the Patent Trial and Appeal Board (“PTAB”). Average daily volume for PRKR is listed at 240,550 shares per day. However, just ten minutes into the trading session, already over 1.9 million shares have traded hands. PRKR shares ended yesterday at $2.59 and gapped on the open to $3.43 – an overnight gain of over 30%.

ParkerVision, Inc. (NASDAQ:PRKR) has been involved in several disputes surrounding patents with Qualcomm Inc. (NASDAQ:QCOM). Qualcomm has a market cap in excess of $84 billion. ParkerVision’s market cap is around $35 million. This morning, ParkerVision announced the PTAB’s latest decision with regard to the petitions for Inter Partes Review (“IPR”) filed by Qualcomm against ParkerVision patents. ParkerVision has now prevailed in over six out of the ten petitions originally filed – one decision resulted in a “split decision”. ParkerVision received early favorable rulings in March 2016 when the PTAB rejected Qualcomm’s request for institution on three IPR challenges to a ParkerVision patent. There are no more decisions in front of the PTAB challenging ParkerVision’s patents.

ParkerVision CEO Jeffrey Parker commented, “We continue to take positive steps forward in our Qualcomm proceedings and believe these results are indicative of the strength of ParkerVision’s innovations and our plan to realize the value of those assets, particularly in light of the high success rate of petitioners in invalidating patents through IPR challenges. We are pleased that the PTAB confirmed the validity of claims from both of the patents we chose to defend.”

ParkerVision, Inc. (NASDAQ:PRKR) designs, develops and markets its proprietary radio-frequency (RF) technologies that enable advanced wireless solutions for current and next generation communications networks. Protected by a worldwide patent portfolio, ParkerVision’s solutions for the wireless transfer of RF waveforms address the needs of a broad range of wirelessly connected devices for high levels of RF performance coupled with efficient power consumption.

Shares of ParkerVision, Inc. (NASDAQ:PRKR) are trading 88.6% above their 52-week low but are still 57.9% below their 52-week high. YTD shares of PRKR are up over 40%. These observations parallel the stock’s Relative Strength Index figure which is at 82.9 – a level often associated with an “over-bought” signal. Traders should take note the short float and short ratio figures below.

3/8/2017
Ticker Symbol PRKR
Last Price a/o 9:03 AM EST  $                      3.52
Average Volume                    240,550
Market Cap (mlns)  $                    34.65
Sales (mlns) $4.10
Shares Outstanding (mlns) 13.38
Share Float (mlns) 10.85
Shortable Yes
Optionable Yes
Inside Ownership 4.60%
Short Float 17.25%
Short Interest Ratio 7.78
Quarterly Return -0.38%
YTD Return 40.76%
Year Return 7.92%

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy. 

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading.

Traders Getting in Ahead of Turtle Beach Corp (NASDAQ:HEAR) Earnings Release

Turtle Beach Corp (NASDAQ:HEAR)

Turtle Beach Corp (NASDAQ:HEAR) is scheduled to release its Q4 and full year earnings tomorrow. But traders aren’t waiting and appear to be betting on a repeat of their last quarter of positive news.

Shares of Hear were trading thinly prior to noon EST then the price action exploded. The price shot up from $1.04 to $1.33 in an hour and a half. Currentl shares are up 25% on volumes that are over eight times their daily average. There is word of a ratings upgrade, however that was first reported prior to the market open. A review of trader chat rooms did not find any evidence that the earnings had been improperly disclosed prior to their announced release time tomorrow.

For Q3, Turtle Beach Corp (NASDAQ:HEAR) reported an EPS loss of $0.10 which was $0.06 better than analysts expected. Revenues came in at $38.38 million which beat street estimates by over $1 million.

San Diego, CA-based Turtle Beach Corp (NASDAQ:HEAR) designs audio products for the consumer, commercial and healthcare sectors. Products are sold in 27,000 storefronts globally across 44 countries. The company has more than 370,000 points of distribution. In addition, the company has installed more than 16,000 interactive point-of-sale displays at retailers globally.

Six firm follow Turtle Beach Corp (NASDAQ:HEAR). Three rate the shares as a “Strong Buy” while the other three rate shares of HEAR as a “Hold”. Their consensus price target is $1.45 – just $0.13 from current price levels. Shares are trading above their 50-day simple moving average (+3.38%) and their 200-day simple moving average (+8.88%).

3/7/2017
Ticker Symbol HEAR
Last Price a/o 1:43 PM EST  $                      1.30
Average Volume                    265,950
Market Cap (mlns)  $                    50.77
Sales (mlns) $176.30
Shares Outstanding (mlns) 48.82
Share Float (mlns) 22.2
Shortable Yes
Optionable No
Inside Ownership 10.50%
Short Float 3.14%
Short Interest Ratio 2.62
Quarterly Return -25.18%
YTD Return -20.61%
Year Return -7.14%

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance.

ViewRay, Inc. (Nasdaq:VRAY) Gets FDA Clearance

ViewRay, Inc. (Nasdaq:VRAY)

ViewRay, Inc. (Nasdaq:VRAY) is designs, develops, and markets radiation therapy systems globally. Today VRAY shares are up over 25% on news that the company has received clearance from the FDA for one of their product lines – Mridian Linac systems. Trading in VRAY is heavy – over 40 times its daily average.

The first two MRIdian Linac systems in the United States are expected to be installed at Henry Ford Hospital in Detroit and Barnes-Jewish Hospital at Washington University in St. Louis. Cleveland, OH-based ViewRay Inc. (NASDAQ:VRAY) considers MRIdian Linac to be the next-generation linear accelerator-based MRI-guided radiation therapy system.

Benjamin Movsas, M.D., chairman of Radiation Oncology at the Henry Ford Cancer Institute in Michigan, stated in a press release “Radiation oncologists have long awaited the availability of a clinical system that integrates MR-imaging with linac radiation delivery, as this is a major breakthrough in improving the efficacy of radiation therapy for patients.”

With MRI-guided radiation therapy, we’re able to watch the movement of tumors and organs in the body as radiation is being delivered and adapt the dose of radiation in real-time, to help ensure the maximum dose reaches the tumor and that surrounding healthy tissue is spared,” said Sasa Mutic, Ph.D., director of Radiation Oncology Physics at Washington University School of Medicine. “This technology helps us treat tumors such those in the lung, liver and pancreas where increased precision is important due to nearby organs and other critical structures.”

In January, Puissance Capital Management led a $26.1 million (before expenses) private placement financing round that included common stock and warrants. Puissance Capital was joined by some of ViewRay’s existing investors, including OrbiMed Advisors, LLC and Kearny Venture Partners, and an additional new institutional investor, Acuta Capital Partners. ViewRay Inc. (NASDAQ:VRAY) sold approximately 8.6 million shares of common stock and warrants to purchase approximately 1.7 million shares of common stock.

ViewRay Inc. (NASDAQ:VRAY) has an impressive sales track record. In 2012 ViewRay reported sales of $1.9 million and in 2015 that number jumped to $10.4 million. EPS for shareholders has gone the other direction. A loss of $0.66 EPS has continued to widen and in 2015 the EPS loss was $1.18. Two firms follow ViewRay Inc. (NASDAQ:VRAY) and both rate VRAY shares as a “Strong Buy”.

 

2/27/2017
Ticker Symbol VRAY
Last Price a/o 1:55 PM EST  $                      6.03
Average Volume                      95,300
Market Cap (mlns)  $                  206.49
Sales (mlns) $10.70
Shares Outstanding (mlns) 43.38
Share Float (mlns) 37.36
Shortable Yes
Optionable No
Inside Ownership 2.20%
Short Float 1.49%
Short Interest Ratio 5.82
Quarterly Return 50.16%
YTD Return 52.08%
Year Return 0.00%

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

 About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20 year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

 

Delta Technology Holdings (Nasdaq: DELT) Doubles on Sales Figures

Delta Technologies Holdings Limited – Nasdaq: DELT 

China-based Delta Technology Holdings shares doubled in trading yesterday. The shares, traded on the Nasdaq under ticker DELT, benefitted from news that its Q4 sales doubled from the previous year’s Q4 figures. DELT closed Wednesday at $0.86 and rocketed to $2.28 before ending the day at $1.70 on exceptionally heavy volumes. Traders should take note that the financial reports peg the USD/RMB exchange rate at 1:6.85. 

Delta went public on the Nasdaq in 2014. Delta Technology Holdings Limited manufactures and sells fine and specialty chemicals in the People’s Republic of China utilizing green technologies. Delta Technologies provides specialty chemical products to more than 380 clients around the world. The company provides its products for automotive, pharmaceutical, agrochemical, dye and pigments, aerospace, ceramics, coating-printing, clean energy, and food additive applications.  

DELT EPS have been inconsistent since 2013 (-$2.21) with positive EPS in 2014 ($0.17) and 2015 ($0.22) but negative reported EPS in 2016 (-$0.73). DELT reported sales peaked in 2015 with $202 million in reported sales but fell to $53.4 million in 2016. Delta Technology Holdings is not followed by any firms. 

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

1/19/2017
Ticker Symbol DELT
Last Price a/o 4:00 PM EST  $                      1.70
Average Volume 420,000
Market Cap 14.5 million
Sales $53.4 million
Shares Outstanding 8.55 million
Share Float 3 million
Shortable Yes
Optionable No
Inside Ownership
Short Float 0.19%
Short Interest Ratio 0.01
Quarterly Return 44.94%
YTD Return 132.30%
Year Return 58.49%

Top 10 Nasdaq Sm Cap Shorted Shares – Ending Jan 13, 2017

Week Ending 1/13/2017 – Most Shorted Nasdaq Small Caps

“Float” – Floating stock is calculated by subtracting closely-held shares and restricted stock from a firm’s total outstanding shares.

“Short Float” – the number of shorted shares divided by the number of floating shares.

“Short Ratio” – the number of shares that have been sold short and not yet covered – typically expressed as a percentage of the average daily trading volume.

Telenav Inc. (Nasdaq: TNAV) Rises on Lawsuit Settlement

Telenav, Inc.– Nasdaq: TNAV

Telenav, Inc. announced that it has settled a lawsuit accusing the firm of patent infringement brought by Vehicle IP, LLC. The one-time payment of $8 million will have a material impact on 2016 Q4 results. Telenav, Inc. is a provider of location based services including voice guided navigation, on mobile phones.

Telenav Inc. trades on the Nasdaq under the ticker TNAV. News of the settlement sent TNAV gapping up from its Thursday close of $7. Today TNAV opened at $8.10 and reached as high as $8.70 on heavy volumes.

In the press release Michael Strambi, Chief Financial Officer of Telenav stated “We experienced higher than expected revenue for the December quarter, which was driven by increases in both our Auto and Advertising businesses. However, operating expenses were greater than anticipated due to the one-time settlement and license fee.  At December 31, 2016, we had cash and short-term investments of $103.7 million.  The payment for the settlement will occur during January 2017.  As of September 30, 2016, we had accrued a liability of $850,000 related to the case, so the settlement’s impact on the December quarter will be reduced by that accrued amount.  We will provide our full financial results on our earnings call scheduled for January 31st.” The company will report results for the second quarter fiscal 2017 on Tuesday, January 31, 2017 with an investor conference call and live webcast at 2:00 p.m. PT (5:00 p.m. ET). To access the conference call, dial 877-795-3648 (toll-free, domestic only) or 719-325-4755 (domestic and international toll) and enter pass code 5663996.

Telenav Inc. is followed by four firms. All four rate TNAV as a “Strong Buy” with a consensus price target of $10.75. For 2016 Telenav Inc reported an EPS loss of $0.85 down from their reported 2015 EPS loss of $0.58. However, sales improved during that period. In 2015 holders of TNAV saw reported revenues of $160.2 million and in 2016 reported revenues were $183.3 million

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

1/13/2017
Ticker Symbol DXCM
Last Price a/o 10:22 AM EST  $                      8.23
Average Volume 82,200
Market Cap $297 million
Sales $181.5 million
Shares Outstanding 42.5 million
Share Float 26.53 million
Shortable Yes
Optionable Yes
Inside Ownership 4.40%
Short Float 1.22%
Short Interest Ratio 3.95
Quarterly Return 21.95%
YTD Return -0.71%
Year Return 35.40%

Ariad Pharmaceuticals (Nasdaq: ARIA) Agrees to $5.2 Billion Buy-out

Ariad Pharmaceuticals, Inc. – Nasdaq: ARIA

Takeda Pharmaceutical Company Inc. has agreed to purchase Cambridge, MA-based Ariad Pharmaceuticals for $24 per share. Ariad’s shares, traded on the Nasdaq under ticker ARIA, closed Friday at $13.74 and shot up to an intraday high of $23.81. The $5.2 Billion deal represents a 75% premium over the Friday closing price.

ARIAD Pharmaceuticals, Inc. is focused on discovering, developing and commercializing precision therapies for patients with rare cancers. ARIAD is working on new medicines to advance the treatment of rare forms of chronic and acute leukemia, lung cancer and other rare cancers. According to its website, Takeda conducts activities according to the corporate mission to “strive towards better health for people worldwide through leading innovation in medicine.”

Alexander J. Denner, Ph.D., Chairman of the ARIAD Board of Directors, said: “This transaction is a great outcome for ARIAD shareholders and brings hope to improve the lives of many cancer patients. It has been a pleasure to work with our outstanding management team and, on behalf of the board of directors, I extend our deepest gratitude to everyone at ARIAD for their unrelenting dedication.”

Ariad Pharmaceuticals is covered by nine firms. Five gave ARIA a rating of “Strong Buy”, two rated ARIA a “Hold”, and two rated ARIA a “Sell”. Their consensus price target was $13. While ARIA has never reported a profit, it sales have done well. In 2011 Ariad Pharmaceuticals reported sales of $25.3 million but in 2015 Ariad reported sales of $118.8 million.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

1/9/2017
Ticker Symbol ARIA
Last Price a/o 11:32 AM EST  $                    23.75
Average Volume 6.5 million
Market Cap $2.6 Billion
Sales $186.2 million
Shares Outstanding 189.4 million
Share Float 187.7 million
Shortable Yes
Optionable Yes
Inside Ownership 0.20%
Short Float 17.26%
Short Interest Ratio 13.45
Quarterly Return 2.92%
YTD Return 10.45%
Year Return 161.22%