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Forest Products Industry

Hedge Funds Are Souring On Volt Information Sciences, Inc. (VOLT)

Forest Products IIII - Fri, 05/06/2020 - 01:24

Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors' consensus returns have been exceptional. In the following paragraphs, we find out […]


Is Bioline RX Ltd (BLRX) Going to Burn These Hedge Funds?

Forest Products IIII - Fri, 05/06/2020 - 01:23

Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors' consensus returns have been exceptional. In the following paragraphs, we find out […]


Too Much Uncertainty Keeps This 5-Star Analyst Watching Amarin Stock From the Sidelines

Forest Products IIII - Fri, 05/06/2020 - 01:15

Rewind to the end of 2019, and in the dead of winter, the sun appeared to be shining on biotech Amarin (AMRN). Vascepa, the company’s high triglycerides treatment and only product, had just received label expansion approval from the FDA, and a large commercial opportunity beckoned.But the rug was pulled out from underneath Amarin’s feet in one swift move. In March, the company lost a patent trial against two generic drug makers, Dr. Reddy's and Hikma Pharmaceuticals, seeking to sell their own versions of Vascepa. Accordingly, a massive sell off ensued. Amarin has since filed its appeal, and the generic drug makers are expected to respond this month.The bad news didn’t end there. Following Vascepa’s label expansion, Amarin intended to ramp up marketing spend with the deployment of a large sales force. However, as COVID-19 hit and stay-at-home measures were put into place, the move was aborted. With society opening up again, Amarin has just announced it intends to get its sales force out into the field by July, but Oppenheimer analyst Leland Gershell believes the move won’t turn the tides.“While the pandemic has admittedly impacted Vascepa growth, the consistent trend of lackluster pickup since December's label expansion fuels our concern that the return on sales from increased marketing spend will disappoint and ultimately hurt profitability,” said the 5-star analyst.Gershell estimates the roughly $80 million in additional marketing spend implies approximately “17% SG&A increase in 2H20 vs. 1H20.”What’s more, data indicates Vascepa sales have been sluggish, on track to show no growth in 2Q.This is a worrisome trend for Gershell, who stated, “Vascepa weekly NRx scripts saw decline in latter part of March and through April with social distancing and patients skipping doctor's visits. In May, weekly TRx stabilized around ~58,000 and NRx has slowly increased to ~22,500, which concerns us following the increase from 400 to 800 reps.”Add to the mix the recent FDA approval for Hikma’s generic equivalent of Vascepa, as well as the fact that the trial’s final conclusion is still one to two years away, and the outlook becomes difficult to gauge. Gershell, therefore, stays on the sidelines with a Perform rating. The analyst has no fixed price target. (To watch Gershell’s track record, click here)On balance, the rest of the Street appears more optimistic. 7 Buys and 5 Holds add up to a Moderate Buy consensus rating. With an average price target of $16.29, the analysts forecast upside potential of 141% over the next 12 months. (See Amarin stock analysis on TipRanks)To find good ideas for healthcare stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.


Hedge Funds Warming Up To Brainstorm Cell Therapeutics Inc. (BCLI)

Forest Products IIII - Fri, 05/06/2020 - 01:09

We at Insider Monkey have gone over 821 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds' and investors' portfolio positions as of March 31st, near the height of the coronavirus market crash. In this article, we look at what those funds think […]


Is VBI Vaccines, Inc. (VBIV) A Good Stock To Buy?

Forest Products IIII - Fri, 05/06/2020 - 01:06

The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing 821 13F filings submitted by hedge funds and prominent investors. These filings show these funds' portfolio positions as of March 31st, 2020. […]


Hedge Funds Never Been Less Bullish On AVEO Pharmaceuticals, Inc. (AVEO)

Forest Products IIII - Fri, 05/06/2020 - 01:01

Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors' consensus returns have been exceptional. In the following paragraphs, we find out […]


Hedge Funds Never Been Less Bullish On Trevena Inc (TRVN)

Forest Products IIII - Fri, 05/06/2020 - 01:00

The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […]


Hedge Funds Nibbling On Resonant Inc. (RESN)

Forest Products IIII - Fri, 05/06/2020 - 00:23

The financial regulations require hedge funds and wealthy investors that exceeded the $100 million equity holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn't the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F […]


Hedge Funds Never Been Less Bullish On Briggs & Stratton Corporation (BGG)

Forest Products IIII - Fri, 05/06/2020 - 00:23

In this article we will take a look at whether hedge funds think Briggs & Stratton Corporation (NYSE:BGG) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get […]


Hedge Funds Warming Up To Clearside Biomedical, Inc. (CLSD) Again?

Forest Products IIII - Fri, 05/06/2020 - 00:23

Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the first quarter. You can find articles about an individual hedge fund's trades on numerous financial […]


The disconnect between the stock market and the economy

Forest Products IIII - Fri, 05/06/2020 - 00:21

Ryan Detrick, LPL Financial Senior Market Strategist, joined Yahoo Finance's The Final Round to discuss the disconnect between the stock market and the economy and give his outlook for the market.


SCYNEXIS Inc (SCYX): Are Hedge Funds Right About This Stock?

Forest Products IIII - Fri, 05/06/2020 - 00:17

In this article we will take a look at whether hedge funds think SCYNEXIS Inc (NASDAQ:SCYX) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get tips from […]


OPEC+ Set to Extend Cuts After Breakthrough With Iraq

Forest Products IIII - Thu, 04/06/2020 - 23:50

(Bloomberg) -- OPEC+ is set to extend production cuts to prop up the oil market after a breakthrough in high-stakes negotiations, and the cartel could meet as soon as this weekend to sign off on the deal.After almost a week of wrangling, OPEC+ leaders Russia and Saudi Arabia clinched a tentative deal with holdout member Iraq, according to a delegate. The pair were pushing Iraq to stop shirking its share of cuts and even to compensate for failure to comply with cuts in the past.The agreement -- though still to be ratified -- means OPEC+ will extend its record production curbs for another month until the end of July. Brent crude, the global benchmark, edged higher, nearing $40 a barrel.The 23-nation partnership between the Organization of Petroleum Exporting Countries and other major producers has helped engineer a doubling in Brent prices since April. The oil price surge has revived the fortunes of major energy companies like Exxon Mobil and Royal Dutch Shell Plc, and reduced the fiscal hole in the budgets of oil-rich nations.Failure to reach an agreement this month could have brought millions of barrels of oil onto the market, undermining a tentative recovery as the coronavirus lockdown eases. With U.S. shale production starting to come back online, OPEC’s careful management of the demand recovery is crucial.The kingdom and the Kremlin, who were on opposite sides of a vicious price war until a peace deal in April, are now united against those in OPEC who have consistently failed to shoulder their share of the burden. Russia, a habitual laggard, has complied punctiliously with the historic deal brokered by President Donald Trump in April, and wants to make sure others are too.“Reunited in leadership of OPEC+ and grimly facing many more months, if not years, of oversupply, Russia and Saudi Arabia had little to lose and much to gain by imposing concrete measure to improve compliance by the laggards, especially Iraq,” said Bob McNally, founder of consultant Rapidan Energy Group and a former White House official.The details of the deal between OPEC+ and Iraq on compliance weren’t clear late on Thursday. A delegate said countries were waiting for a formal letter from Baghdad spelling out the details before calling for an official meeting. OPEC+ is used to dramatic glitches endangering deals at the last minute, so delegates said nothing would be agreed until formal communications take place.Tougher conditions will be difficult for Iraq to accept. It made less than half of its assigned cutbacks last month, so compensating fully would require it to slash production by a further 24% to about 3.28 million barrels a day, according to Bloomberg calculations.For a country still rebuilding its economy following decades of war, sanctions and Islamist insurgency, that’s a tall order. The government risks a backlash from parliamentarians and rival political parties by acceding to foreign pressure and foregoing crucial oil sales.Three other nations -- Angola, Kazakhstan and Nigeria -- also produced above their OPEC+ quotas in May. The three had earlier on Thursday already agreed to bring their production in line with the agreement.The DealEnforcing better compliance among OPEC+ nations has been a motif since Saudi Energy Minister Prince Abdulaziz bin Salman was appointed.In his first public outing after becoming energy minister, in Abu Dhabi last September, the prince was literally applauded for securing loud pledges of atonement from Iraq and Nigeria.His tenure has also been stormy. In March, the prince’s attempt to force Russia to make deeper output reductions backfired spectacularly, splintering the entire alliance and igniting a destructive price war.Two months ago, Prince Abdulaziz’s achievement in successfully restoring the OPEC+ coalition and forging an agreement for historic production cuts was overshadowed -- and delayed -- by a spat over Mexico’s contribution.The final deal in April set out historic cuts of 9.7 million barrels a day, or roughly 10% of global oil supplies, to offset the unprecedented collapse in demand caused by the virus lockdowns. Then a few weeks later, Saudi Arabia and its closest allies in the Persian Gulf promised additional supply restraint of 1.2 million barrels a day in June.If a new accord is signed this weekend, the impact on the oil market could be dramatic. After the massive oversupply earlier this year, Russian Energy Minister Alexander Novak predicts there could be a supply deficit of 3 million to 5 million barrels a day next month, Interfax reported. That’s roughly in line with projections from an OPEC committee that met on Wednesday, a delegate said.That would provide a stronger foundation for the crude price recovery, and also allow the cartel to start chipping away at the billion-barrel stockpile that’s built up during the crisis.(adds quote)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


3 Under-The-Radar Cannabis Stocks Ready to Bounce

Forest Products IIII - Thu, 04/06/2020 - 23:42

The cannabis sector generally took a step back after Canopy Growth (CGC) reported a disastrous quarter last week. The Canadian cannabis giant set the sector back after cannabis was generally seen in a positive light coming out of the economic shutdown due to the coronavirus.  While the U.S. cannabis space is poised for a strong 2H of the year, the sector wasn’t completely unscathed during the coronavirus shutdown. A few states such as Massachusetts and Nevada closed stores during the virus outbreak hitting revenues hard in those states.While some of the large multi-state operators (MSOs) have rallied near pre-virus highs, the smaller MSOs are just now starting to rally. These stocks all trade with market values far below $1 billion and could eventually become acquisition targets from Canadian operators or new entrants into the space.The ultimate gift for shareholders could exist from the Safe Banking Act getting approved via current legislature in the House as part of another round of stimulus. Over 34 state Attorney Generals approved the passage of the bill to eliminate the handling of cash, amongst other reasons. Access to capital will help these secondary MSOs to a greater extent than the larger ones.With this in mind, we’ve delved into three under-the-radar MSO stocks to consider as the U.S. cannabis space is set to thrive during the economic reopening. Using TipRanks' Stock Comparison tool, we were able to read the fine print on what 2020 has in store for the three MSO players.Harvest Health & Recreation (HRVSF)Harvest Health & Recreation has been one of the most disappointing MSOs due to a couple of failed large-scale deals. The company has had to retreat from deals that would’ve placed Harvest Health into a leading MSO position, but the company is now focused on growing markets with recreational optionality in the future.The company now has core operations in Arizona, Florida, Maryland and Pennsylvania. The Arizona operation has 14 open dispensaries with a good shot for the state approving recreational cannabis by the end of 2020.For Q1, Harvest Health had $45.0 million in quarterly revenues with a 19% increase from the prior quarter. The cannabis MSO reported a small quarterly EBITDA loss of $3.9 million and expects to reach EBITDA positive in the 2H. Harvest Health needs to boost margins presently at 42%, but the company expects revenue growth and $6 million in quarterly expense cuts to drive the bottom line improvement.The company targets over $200 million in 2020 revenues with the optionality of recreational cannabis in Arizona alone adding a boost of $50 million to the revenue base for 2021. The stock has a market cap of $405 million which could be very appealing in a scenario where any of their core states add recreational cannabis.Harvest Health still trades near the lows of 2020 and far off the 2019 highs. The stock could easily trade below 2x actual 2021 sales assuming Arizona approves recreational sales in the November ballot.All in all, Wall Street is not convinced just yet on this MSO player, but optimism is circling, as TipRanks analytics demonstrate Harvest Health as a Buy. Based on 3 analysts polled in the last 3 months, 2 rate the stock a Buy, while 1 remains sidelined. The 12-month average price target stands at $2.77, marking a 141% upside from where the stock is currently trading. (See Harvest Health stock analysis on TipRanks)Columbia Care (CCHWF)Columbia Care remains one of the few MSOs not well known by the market. The company just reported Q1 results $28.9 million, up $4.4 million from the December quarter.The MSO has strong operations in Florida, Illinois, Massachusetts and Ohio, amongst other states. In total, Columbia Care has licenses in 18 U.S. jurisdictions plus the E.U.Between the Illinois store having business disruption recently due to COVID and Massachusetts shutting down recreational cannabis sales until last week, Columbia Care expects disrupted Q2 sales for areas just ramping up. As with Harvest Health, the MSO is positioned for the optionality of recreational approval in other states while having a relatively small revenue base.For 2020, Columbia Care is forecasted to generate revenues of $210 million with a market cap of $620 million. More importantly, the MSO is expected to double revenues in 2021 to over $400 million before even seeing upside from a Florida approval of recreational cannabis in a few years.The small MSO has $45 million in liquidity and $27 million in cash with the expectation for additional transactions later this year. Columbia Care is still generating large EBITDA losses as the company still launches operations in states such as New Jersey and Virginia. Although the stock has only a few analysts currently throwing the hat in the ring, all are bullish on the stock. Columbia Care’s analyst consensus rating is a Strong Buy, with all 3 analysts giving it the thumbs up. The 12-month average price target stands at $8.71, which implies over 200% upside from current levels. (See Columbia Care stock analysis on TipRanks)AYR Strategies (AYRSF)One MSO actually hit by the coronavirus crisis was AYR Strategies. The company operates in both Massachusetts and Nevada where the states chose to close dispensaries or recreational sales.For the March quarter, AYR Strategies reported revenues rose 4% to $33.6 million. The company was highly profitable heading into the mid-March COVID related closures in both Nevada and Massachusetts reduced sales towards the end of March. The company predicted sales would’ve risen by 16% sequentially in the quarter without the store closures.The Q1 numbers weren’t hit hard with adjusted EBITDA still coming up at $8.4 million and cash flow of operations hitting $7.4 million. With Massachusetts blocking recreational cannabis until May 25, AYR Strategies forecasts June returning to the Q1 EBITDA levels with margins approaching 25%.Analysts have AYR Strategies reaching $230 million in sales for 2021 while the stock valuation is only $152 million now. The stock trades at ~1x forward sales estimates while the industry as a whole trade closer to 3x forward sales.The company only has $9.9 million in cash which could hold back investors, but the solid adjusted EBITDA position of the company should allow for AYR Strategies to easily raise cash in the future. Any approval of U.S. cannabis regulations would help this small MSO either raise cash or attract a suitor at premium prices. All in all, AYR Strategies maintains a Strong Buy from the analyst consensus, based on 4 recent ratings. These include 3 Buys and 1 Hold, giving a 3 to 1 advantage to the bulls. Share are trading at $7.70, so the $51.33 average price target suggests room for whooping 567% upside. (See AYR Strategies stock analysis on TipRanks)To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclosure: No position.


Should You Buy Genesis Healthcare Inc (GEN)?

Forest Products IIII - Thu, 04/06/2020 - 23:19

The financial regulations require hedge funds and wealthy investors that exceeded the $100 million equity holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn't the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F […]


Airlines, Hertz Add $8.6 Billion in Value on Expanded Schedule

Forest Products IIII - Thu, 04/06/2020 - 23:03

(Bloomberg) -- U.S. airlines and rental car stocks added $8.6 billion in market value Thursday after American Airlines Group Inc. said it plans to boost flights by 74% next month, suggesting that the worst of the pandemic-led travel standstill has passed.American surged 41% -- adding $2.1 billion to its own market value -- after saying its July schedule would see about 4,000 flights on its busiest days, up from about 2,300 flights now. Rival airlines, as well as rental car operators Hertz Global and Avis Budget Group, also rose as the expanded schedule echoed indications from peers that passenger demand is returning after all but disappearing in April as the coronavirus spread.The 9-member S&P Supercomposite Airline Index advanced 13% following the news Thursday. The gains boosted Delta Air Lines’s market cap by $2.5 billion, United’s by $1.6 billion and Southwest’s by $1.1 billion. The five remaining components grew by $1.2 billion among them.Hertz, pushed last month to file for bankruptcy protection by the sudden disruption to its business, soared 84%, adding $97 million to its beaten down market value. Avis Budget’s value increased nearly as much, $90 million, although the stock popped higher by just 4.8%.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


Wall St. pro says the current rally reminds him of March 2009

Forest Products IIII - Thu, 04/06/2020 - 22:45

As the S&P 500 (^GSPC) hovers around 40% from its March 23rd low, one veteran strategist is reminded of the massive rally that took place when the markets were emerging from the financial crisis 11 years ago.


American and United Diverge on Summer Recovery Expectations

Forest Products IIII - Thu, 04/06/2020 - 22:30

The three major U.S. global airlines usually report similar demand weakness and strengths, but during the Covid-19 pandemic, American Airlines and United Airlines have taken divergent paths. Between May 24 and May 29, American carried an average of 110,330 daily passengers, a number low by historical standards, but robust compared to what some other airlines […]


Slack tops Q1 revenue estimates, withdraws guidance for FY21 calculated billing 

Forest Products IIII - Thu, 04/06/2020 - 22:28

Slack Technologies released its first quarter earnings report after hours on Thursday, beating on its top line. The company saw an added 12,000 net new paid customers and 90,000 net new organizations, but withdrew its guidance for the fiscal year of 2021 for calculated billing. Yahoo Finance’s Myles Udland breaks down the company’s results.


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by Dr. Radut