Amazing: BWAY was a 85.5 stock this yr. At its last high, it was a $38.50 stock, in July. At its second downgrade last wk, 12-mo targets of $12 and $15 were provided. Yet it didn't even rebound in today's mkt!
It dropped to 3-3/16 after temporarily hitting 2-15/16.
22% held by institutions: Putnam, GE, Intel, Crosslink, TCW, Nicholas Applegate, Standish and MSDW are the largest holders. Though MSDW started selling in July, no mgt insiders have sold. Wonder why?
45m shares outstanding with a cap of 152m
This qtr estimates: (-.01/share)
Next qtr: +.01/share
Next yr: +.18/share
Revenues have risen sequentially the past 4 qtrs:
Revenues(millions) 35.2 18.1 10.7 7.2 4.5
Price-Sales Ratio 2.14
_______________
The major negative I found was a big loss last qtr:
Net Income(millions) -16.9 -3.2 -3.4 -4.5 -2.3
Shares short: 09/00 978,924 (About 1/2 what it was in August)
________________
Apparently, its customers were dotcommers, so that's the Achilles heel.
It was a 7-3/8 stock last Wednesday. Now it's down more than 50%, at 3-3/16.
With targets of $12 and $15.
There's no resistance till $7.
So why didn't insiders sell? A buy-out in the works?
Very curious. |
