OurPet’s Company (OPCO) Short Sellers Backing Of
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Posted On: 02/17/2016 4:10:52 PM
OurPet’s Company (OPCO) Short Sellers Backing Off, Drop by 71%
Short interest in OurPet’s Company (OTCQX: OPCO) has sharply fallen, presumably driven by a host of factors, including word that the specialty pet retailer has several new pet products and strategies on deck. The company’s total short interest was 1,900 shares in February, as reported by FDANewsAlert.com (citing FINRA), a drop of 70.7% from 6,500 shares previously reported. Based on average trading volume of 2,300 shares, the days-to-cover ratio is currently one day.
OPCO Tuesday said it will unveil a new product at next month’s Global Pet Expo, sending shares up nearly 11% to an intraday high of $0.89 on 1,000 traded hands. Earlier in February, the company announced its strategic partnership with Aplix IP Holdings Corp., a software and solutions provider in Japan that will help OPCO further develop its product lines in the $60 billion pet industry.
“We literally searched the world for the strategic partner who shares the same passion as we do and would closely work with us to bring these ideas to reality. We’re fortunate to have found what we were looking for in Aplix of Japan, a world leader in Bluetooth and Wi-Fi design, development and manufacture of related components,” OPCO CEO Dr. Steve Tsengas said in the news release. “OurPet’s and Aplix have invested extensive resources to develop new products fueled by smart technology and we look forward to collaborations that continue this development.”
Since July, shares of OPCO have risen nearly 13%, outperforming the S&P500 by 22.7%, most likely given a boost by well-paced and frequent updates on new products, a new communication strategy, executive appointment and strong second-quarter, third-quarter and nine-month 2015 performances.
OPCO currently has more than 160 issued or pending patents and derives more than 75% of its revenue from proprietary products. For the first nine months of 2015, OPCO reported revenues of $17.1 million, an increase of 6% compared to the comparable period of 2015. Gross profit increased 15% to $5.4 million vs. the year prior, while gross profit margin increased 2.5 percentage points to 31.6% for the first nine months of 2015 from 29.1% the prior year. Net income for the first nine months of 2015 increased 146% to $886,319, or $0.04 per share, from $359,935, or $0.02 per share, for the same period in 2014.
Increased market exposure and growing recognition of the company’s firming position in the specialty pet retail market have squeezed out the majority of short sellers looking to profit off a misplaced forecast for a decline in OPCO’s share price.
For more information, visit the company’s website at www.ourpets.com
Please read full disclaimers at http://disclaimer.missionir.com
Short interest in OurPet’s Company (OTCQX: OPCO) has sharply fallen, presumably driven by a host of factors, including word that the specialty pet retailer has several new pet products and strategies on deck. The company’s total short interest was 1,900 shares in February, as reported by FDANewsAlert.com (citing FINRA), a drop of 70.7% from 6,500 shares previously reported. Based on average trading volume of 2,300 shares, the days-to-cover ratio is currently one day.
OPCO Tuesday said it will unveil a new product at next month’s Global Pet Expo, sending shares up nearly 11% to an intraday high of $0.89 on 1,000 traded hands. Earlier in February, the company announced its strategic partnership with Aplix IP Holdings Corp., a software and solutions provider in Japan that will help OPCO further develop its product lines in the $60 billion pet industry.
“We literally searched the world for the strategic partner who shares the same passion as we do and would closely work with us to bring these ideas to reality. We’re fortunate to have found what we were looking for in Aplix of Japan, a world leader in Bluetooth and Wi-Fi design, development and manufacture of related components,” OPCO CEO Dr. Steve Tsengas said in the news release. “OurPet’s and Aplix have invested extensive resources to develop new products fueled by smart technology and we look forward to collaborations that continue this development.”
Since July, shares of OPCO have risen nearly 13%, outperforming the S&P500 by 22.7%, most likely given a boost by well-paced and frequent updates on new products, a new communication strategy, executive appointment and strong second-quarter, third-quarter and nine-month 2015 performances.
OPCO currently has more than 160 issued or pending patents and derives more than 75% of its revenue from proprietary products. For the first nine months of 2015, OPCO reported revenues of $17.1 million, an increase of 6% compared to the comparable period of 2015. Gross profit increased 15% to $5.4 million vs. the year prior, while gross profit margin increased 2.5 percentage points to 31.6% for the first nine months of 2015 from 29.1% the prior year. Net income for the first nine months of 2015 increased 146% to $886,319, or $0.04 per share, from $359,935, or $0.02 per share, for the same period in 2014.
Increased market exposure and growing recognition of the company’s firming position in the specialty pet retail market have squeezed out the majority of short sellers looking to profit off a misplaced forecast for a decline in OPCO’s share price.
For more information, visit the company’s website at www.ourpets.com
Please read full disclaimers at http://disclaimer.missionir.com
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