This morning is a bit interesting in the way things are shaping up pre-market. We have a few OTC stocks bid up early on, one specifically on fundamental news while the others appear to have some continuation of recent momentum. Let’s dive in to see if we can’t isolate a winner to get the day going!
Fundamental Changes:
After closing flat yesterday, Sono-Tek Corporation (NASDAQ:SOTK) appears to be catching a bid as shares are currently bid at $4.74/share (+5.33% implied open for sellers). This move is likely due to the release of quarterly earnings by the company. Here are a few highlights.
- Net sales were $4,070,000, up 17% or $589,000, driven by increased sales of OEM systems to the China market.
- Gross Profit increased 28% to $2,074,000 due to higher sales and product mix.
- Gross Margin expanded 440 basis points to 51.0% primarily due to product mix.
- Operating income increased 123% to $449,000, compared to $201,000.
- Net income was $344,000, an increase of 93%.
Sono-Tek Corp designs and manufactures ultrasonic coating systems that apply precise, thin film coatings to a multitude of products for the microelectronics/electronics, alternative energy, medical and industrial markets, including specialized glass applications in construction and automotive. It sell products to emerging research and development and other markets. Its ultrasonic nozzle systems use high frequency, ultrasonic vibrations that atomize liquids into minute drops that can be applied to surfaces at low velocity providing thin layers of protective materials over a surface such as glass or metals.
Continued Momentum:
While no news has come out about this stock recently, it appears that traders are creating significant buying pressure so far this week for Regen Biopharma Inc. (OTCPK:RGBP). After closing up at $0.0234/share (+11.96%) on Tuesday, shares are bid up at $0.025 (+.6.84% implied open for sellers) as we head into the final 30 minutes before the bell.
Regen BioPharma Inc. is a US-based biotechnology company. It focuses on the development of regenerative medical applications in the stem cell space. The company's principal products and services include HemaXellarate I, HemaXellerate II, dCell Vax, NR2F6, Tcellvax, identification of Small Molecules, and others. HemaXellarate I and HemaXellerate II is a cellular therapy designed to heal damaged bone marrow. dCell Vax is a therapy whereby dendritic cells of the cancer patient are harvested from the body. Tcellvax is an autologous cellular product comprised of NR2F6 gene-silenced peripheral blood mononuclear cells.
Stay tuned for more pre-market action!
