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.

Author: Steve Clark

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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