ENDO - a bit above gizzard territory, but with >40% of float short, might be a rocket. Found this on another thread. Any comments?
>>>
Time to squeeze the 5M shorts on ENDOcare!!!
Neil, finally got the breakout I was looking for above the $16-$16.50 resistances, closing the week at $18.40. Next goal/mission is to devastate the heavy short position which has been piling on massively for months. There are just 17.2M shares outstanding, the float is 11M, and amazingly, for a company which will be recording its first profitable quarter (ending 3/31, report due in early May) and is expected to earn 34 cents for the year...THERE ARE 5.4 MILLION SHARES SHORT ENDO, OR 49% OF FLOAT!!!
ENDO came to life last week from its recent lull on two very positive and promising PRs:
03/14 05:45 Market News Network
ENDOCARE INC - Cryosurgery Gains Prominence Amid Growing Concerns - Regarding 30% Failure Rate of Radiation Patients
03/14 07:30 PR Newswire
Endocare Secures Exclusive Purchase Agreement With Veterans Administration For Erectile Dysfunction Product
Impressive results from most recent quarter:
Endocare Reports Record Fourth Quarter; Year End Results
106 Percent Growth in Procedures for Year; Quarter Revenues Up 156 Percent; Net Loss Cut by 92 Percent as Company Nears Profitability
IRVINE, Calif., Feb. 19 /PRNewswire-FirstCall/ -- Endocare Inc. (Nasdaq: ENDO - news), a developer of innovative diagnostic and treatment tools for cancer and other diseases, today announced that continued acceleration in disposable sales driven by the fast-growing number of cryoablation procedures and a steady growth in sales of the Cryocare® system led to record revenues of $5.2 million for the fourth quarter ended December 31, 2001, a 156 percent increase from the $2.0 million posted in the fourth quarter 2000. The net loss for this year's fourth quarter decreased to $260,000, or a $0.01 loss per share, decreasing the net loss by 92 percent from the $3.2 million or $0.23 loss per share for last year's fourth quarter. Gross margins as a percent of revenue grew to 68 percent for the fourth quarter of 2001 from 61 percent in last year's corresponding period. (For the fiscal year ended 12/31/01, revenues totaled $15.7 million, up from $6.7 million. Net loss fell 52% to $5.9 million.)
Endocare Chairman and Chief Executive Officer Paul Mikus said the results reflect the growing number of men who are seeking an alternative to surgery and radiation, the corresponding rise in the adoption of cryoablation by urologists, and the continuing success of new distribution channels within the hospital and urology practice group communities.
Endocare, Inc. is a vertically integrated medical device company that develops, manufactures and markets cryosurgical and stent technologies for applications in oncology and urology. The Company has concentrated on developing devices for the treatment of two common diseases of the prostate, prostate cancer and benign prostate hyperplasia (BPH). The Company is also developing cryosurgical technologies for treating tumors in other organs, including the kidney, breast and liver. Endocare has developed products that include the Cryocare-4 Probe system, Cryocare-8 Probe System, FastTrac, CryoGuide and Horizon Prostatic Stent. The Company has developed the Cryocare System, a next-generation cryosurgery system, to allow the urologist to treat prostate cancer in a minimally invasive manner. The Company has also developed a new urological stent that has been designed to provide immediate relief for BPH patients who undergo thermotherapy, called the Horizon Prostatic Stent.
From viwes:
Item Ticker Company Name Month+ Shares Short Avg Daily Volume Ratio* Remark
1 ENDO Endocare Inc.
02/02 5,421,689 340,858 15.91 A
01/02 4,670,644 359,520 12.99 T A
12/01 2,541,061 778,387 3.26 A
11/01 2,057,725 490,750 4.19
10/01 1,425,522 199,310 7.15
09/01 1,090,986 164,643 6.63
+ monthly data as of settlement on the 15th of each month.
* Ratio = Shares Short / Avg Daily Volume; it may be used as a rough measure of days to cover.
Remark: T - in top 20 list, A - in alert list (lists are only created for the last 6 months )
ENDO's top 20 ranking(s) for the past six months:
1. 01/02: 13th on position increase
2. 01/02: 16th on percentage position increase
Alert(s) on ENDO from Monthly Watch for the past six months:
1. 02/02: short position at 12-month high
2. 02/02: short position increasing > 10% for 4 consecutive months
3. 02/02: short position increasing for 6 consecutive months
4. 02/02: days-to-cover at 12-month high
5. 01/02: short position at 12-month high
6. 01/02: short position increasing > 10% for 4 consecutive months
7. 01/02: short position increasing for 6 consecutive months
8. 01/02: days-to-cover at 12-month high
9. 12/01: average daily volume at 12-month high
10. 12/01: short position at 12-month high
11. 12/01: short position increasing > 10% for 4 consecutive months
12. 12/01: short position increasing for 6 consecutive months
13. 12/01: average daily volume at 12-month high
14. 12/01: short position at 12-month high
15. 12/01: short position increasing > 10% for 4 consecutive months
16. 12/01: short position increasing for 6 consecutive months
17. 11/01: average daily volume at 12-month high
18. 11/01: short position at 12-month high
19. 11/01: short position increasing > 10% for 4 consecutive months
20. 10/01: short position at 12-month high
21. 10/01: short position increasing > 10% for 4 consecutive months
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On Balance Volume for ENDO has been steadily uptrending for 6 months running, despite the topsy-turvy, volatile price action. Perhaps this jump last week can be the beginning of a Sustainable move higher now in the stock. 52-week high was $23.94 on Oct. 12th, 2001, so it appears ENDO has some room to run.
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