Reported after close today (11/7/16) Earnings: EPS -$0.03 Revenue $298.04M Estimates: EPS -$0.03 Revenue $322M Down 2.26% after hours
Thanks to the insider trading thread, I had to take a closer look at this one.... The CEO sure seems to be loading up, holding 184,223,656 shares as of 4/21/17.... That's provocative! Theres a pretty clear long term range between $12.00 and $7.00 shown on these two weekly charts... Telling a story of accumulation throughout 2015, with a sexy mark up and a lot of quick profit taking leading to a repulsive mark down..... And then, right back into range But here's what I don't like The preliminary support of this new range looks to be around $9.00.... If I got that right, then at or below $9.00 is where the smart money would be building a position..... Notice how most of this range is above that point Next, look at the range through 2015... As the volume tapers down, volatility also becomes calmer before the storm... All signs of accumulation Now look at the new range... Volume and volatility are both increasing Im not into shorting yet, so I think I'll just keep this on my watchlist.... That Forest guy is the CEO of the company, surely he knows better than I do, all I have is a chart...... Can't wait to see who was right
I agree the volatility appears higher than it did in the old range before lift off. But, when just looking at this new range, the volatility looks normal. That selling bar the last week of 2016 looks suspicious; there wasn't much volume on that move to justify that big down bar. Yes, the CM did not support it and so the public sold it off, but there apparently was not enough public ownership to print a sign of weakness (SOW). So, that does not indicate distribution to me. Rather it indicates the CM was just letting it go down so he can buy some more. This week it tested the low from 7 weeks ago on significantly lighter volume and closed above that low and above midrange for the week. The CM supported it. He may be accumulating, or IF he is distributing, he is not done yet and not ready to let it break down. If it breaks he could lose control; all the rats would jump ship. That would cost him time and money to work another range. IF he is distributing, it appears to me he intends to take it back up to sell some more. If he is accumulating he may take it lower to test for supply to see if it is ready yet. By "ready" I mean that he has to check to see if all the weak hands are out of the stock yet. But right now there seems to still be quite a bit of supply. I suspect he'll let it hang down here while he mops it up.
Well I counted an upside objective of $11 on a .25x1 P/F... Well within the range, not enough cause to break out yet Im not completely clear on counting down yet, so risk/reward ratio is in question
I really thought I would end up eating those words..... They say numbers don't lie, I guess charts don't either
Down -25% at one point today. There's an SEC complaint alleging pump and dump schemes perpetrated by the company.
This didn't even trade today; shares were halted since Friday afternoon. Just read news that Mark Cuban is short against OPK.
Below are my thoughts on what I believe to be a severely undervalued stock. The OPK Stocktwits page has an extremely bullish atmosphere, and for multiple reasons. Many believe this stock will be in the double digits before long due to the COVID 19 testing- OPK is expected to receive a huge financial tailwind of revenue from ongoing COVID testing starting with Q2 results and going into Q3. They are parent company of Bioreference Labs who is the third largest COVID tester in the country. Since February - - Have completed over 100K COVID tests in Florida alone (this (number increases 2k - 4k every day- This is HUGE amounts of revenue being accumulated, and that number is just from Florida alone - Signed $150 million contract with Gov Cuomo and the State of New York to do most, if not all their testing - Signed contract/partnered with RiteAid - 91 locations across the country are doing drive-thru COVID testing - all via Bioreference - Insiders have purchased over 4 million shares - BlackRock Investments have purchased 36 million shares - Vanguard Investments have purchased 37 million shares Partnered with Pfizer on a new HGH drug, investors are eagerly anticipating PR results from this which will be released June 8. On top of all that - "short interest" is around 25%, which is very high. When the short squeeze happens (when, not if), it will give the stock an additional skyward pump. I'm not an advisor and certainly not trying to tell anyone where to put your money but I'm comfortable being balls deep in the stock long-term. I encourage everyone to do your homework! Stay healthy, my friends!
FYI The income from all the covid testing has not outweighed all the losses from their other product sales as marked in their last earnings report. Everyone is bullish because its a heavily promoted company and charts easily show it can be $9, a 400% bagger. You must remember its has 400mil shares of which 179mil are owned by Frost. He wants to take it private but needs to buy more shares.
Vdub, Thanks for the input. Keep in mind, OPK has not recieved any of the testing "income" you mentioned, as none of it was captured in the first quarter (contracts were signed and deals were made, but none of the revenue even began coming in, to my knowledge) - It is expected to all come as tailwind, and is expected to reflect in Q2 and Q3 reports If it goes private, what happens to the stock in your opinion?
this is not consultation or advice. All Indicator lines used as dynamic support and resistance, that change reliance on the price and time. When the price reach and meet one of the indicator, the trend stop, and new trend begin. the system show the next price target at high probability(no 100%). OPK: The price met the Halfway indicator (blue line). The price go above the EMA (orange line), the probability to go up to meet the High target indicator(green line) is higher then going back down. As long as the price below the EMA, the trend is bullish.
