BioTech

MoSys Inc. (NASDAQ:MOSY) Spikes

MoSys Inc. (NASDAQ:MOSY)

MoSys Inc. (NASDAQ:MOSY)

MoSys Inc. (NASDAQ:MOSY) shares have spiked over 140%, to $1.60, on the back of massive volumes after the technology company reported Q3 2017 financial results. Volume has been huge. Currently, over 127 times the average share volume has traded today.

MoSys Inc. (NASDAQ:MOSY)

MoSys, Inc. (NASDAQ:MOSY) is a nano-cap ($5.4 million) fabless semiconductor company enabling leading equipment manufacturers of Cloud, networking, communications, and data center systems to address the continual increase in Internet users, data and services. The company’s solutions deliver data path connectivity, speed and intelligence while eliminating data access bottlenecks on line cards and systems scaling from 100G to multi-terabits per second.

MoSys Q3 Earnings

MoSys, Inc. (NASDAQ:MOSY)’s Q3 2017 net loss was $1.7 million, or ($0.22) per share, compared with a net loss of $4.0 million, or ($0.60) per share, for the previous quarter and a net loss of $4.7 million, or ($0.71) per share, for the same period in 2016. Total net revenue for Q3 2017 was $2.5 million, compared with $1.4 million for the previous quarter and $1.6 million for the third quarter of 2016. Product revenue for the third quarter was $2.2 million, compared with $1.1 million in the second quarter of 2017 and $1.2 million in the year-ago period.

Len Perham, President and CEO of MoSys, Inc. (NASDAQ:MOSY), “Our revenue growth in the third quarter was primarily driven by increased shipments to our largest Bandwidth Engine 2 customers. More specifically, the design wins with our lead security-appliance customer entered production in early 2017, and have been a significant driver of our increased revenue this past year. As part of our close collaboration with our lead customers, we have developed a solid backlog that extends out through 2018.”

MOSY Stock Performance

The consensus of analysts gave shares of MoSys, Inc. (NASDAQ:MOSY) a one-year price target of $2.00. That level has not been reached since late June, after which MOSY shares began a slide that saw the shares trade under the important $1 level for the majority of the trading sessions since the beginning of September.

MOSY shares have drastically underperformed the sector and market over the past year. Year-to-date MOSY shares are down over 70%. Over the past month, shares have dropped over 20%. Despite the poor performance, today’s spike has moved MOSY’s Relative Strength Index score to 83 – a figure well above the threshold normally considered for labeling a stock as “overbought”.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

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Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

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