Fiber optic review:
Okay, RSTN is about 64% of its 50 day moving average, but it came in AH, beating estimates by a penny and became PROFITABLE ahead of schedule and was up 6% in AH.
How does this compare to other fiber optics? Below, I rate from the most oversold to the least oversold. Obviously, I start with the profitable ones, then I compare with 50dma.
The ones above or near the 1/1/01 price may avoid tax loss selling and are marked with an asterisk.
Do your DD to know why some are so low; for example, OCPI went from 9 on 7/30 to 2 today. On 7/31 it projected revenue would drop from $39m to $14-$18m this qtr. IF $9 was correct, the equivalent range projected would be about $3.50-$4. So its PE is really not that low, yet it looks very oversold anyway, at $2.10
Because of projections, these PEs could be off considerably, too.
Sells refer to insiders/institutions.
OCPI - PE=6.36 Many August sells
NEWP - PE=14.63 NEWP hasn't seen insiders or institutions selling since June; 3 days of shorts.
FDRY - PE=15.22
FBCE - PE=16.06 3 days of shorts; significant 144 selling in Sept
AFCI* - PE=16.26 Almost even with 1/1 price.
CIEN - PE=18.83
JNPR - PE=26.71 Insider/institutional selling not bad since late July.
IFCI - PE=35.50 No significant selling since March, and 11 days of shorts.
OPNT - PE=53.50
EXFO - PE=177.67 Oddly, other than filings for 20K shares in Sept, this hasn't sold any since May
AVCI, = 33% of its 50dma
RBAK, ONIS, TELM, MRVC = 40% of its 50dma
EXTR, AVNX, BKHM, ASCX = 50% of its 50dma
LMNE is not as bad off, having risen on news of MRVC plans to merge w/it.
JDSU, LDP are equivalent to LMNE. LDP no sales since August 2000 !
STLW, SCMR, CORV, CSCO, FFIV* are closest to their 50dma, but FFIV DOES remain higher than its 1/1 price. In fact, it's the only one that does.
A short? Look at CORV = nasdaq.com`&symbol=CORV`&symbol=CSCO`&FormType=FORM144&selected=CORV
and FFIV had someone file to sell 1/2m shares on 9/4... RBAK has lots of 144s filed in Sept... TELM has been a steady sell from early August through Monday...
EXFO has near 15 days of shorts! LMNE has 11 days of shorts. MRVC has nearly 5 days worth. FFIV has near 4 days worth, and AVNX has more than 3.5 days worth. TELM, OPNT, NEWP have 3 days worth. STLW, SCMR have over 2 days worth.
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¸.·´ ¸.·*`·-» Kevin A. Hayden
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