Adding to Some Small-Cap Losers
On a slow news day we’re looking to build onto these three small-cap positions.
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Not a lot of portfolio-name-specific news flow on Wednesday morning. Q2 GDP was left unrevised at SAAR quarter-over-quarter growth of 1.5%. Headline July PCE was a touch warmer than expected on a month-over-month basis. July Personal Income and Personal Spending both surprised to the upside, though Spending decelerated from June.
July Durable Goods Orders posted a huge beat at the headline, which is sort of meaningless. The big story there is the huge miss for Core Capital Goods Orders as those are a proxy for industrial-focused business spending. Equity index futures have flipped red on the news. The portfolio, in response, will be adding to some of our worst-performing positions on this weakness, excluding Alto Ingredients (ALTO) which is a name that we have been reducing exposure to (at higher prices) this week.
Portfolio News
Ocular Therapeutix (OCUL)
On Wednesday morning, analyst Biren Amin of Piper Sandler reiterated his “buy” rating on OCUL as well as his $31 target price. Amin is rated at four stars out of five by TipRanks. He has compiled a 50% success rate over the past two years while generating an average return of 12.5%.
SoFi Technologies (SOFI)
On Tuesday, analyst Vincent Caintic of BTIG reiterated his “hold” rating on SOFI without setting a target price. Caintic is rated at four stars out of five by TipRanks. He has compiled a 53% success rate over the past two years while generating an average return of 7.5%.
Tuesday’s Intentions vs Actual Trades
Intention: Purchase 40 shares of (ASPN) at or close to the last sale of $5.13
Actual trade: Bought 40 shares of ASPN at $5.23.
Intention: Sell 25 shares of ALTO at or closer to the last sale of $4.07
Actual trade: Sold 25 shares of ALTO at $4.00
Wednesday’s Intentions
Purchase 10 shares of (EVLV) at or close to the last sale of $5.41
Purchase 10 shares of (SWBI) at or close to the last sale of $13.51
Purchase 5 shares of (PL) at or close to the last sale of $21.55
Current Positions
Long 225 shares of ALTO at $4.9676. Target price: $8. Last sale: $4.00.
Long 40 shares of ASPN at $5.23. Target price: $10. Last sale: $5.23.
Long 85 shares of (EVLV) at $5.8876. Target price: $8.50. Last sale: $5.41.
Long 100 shares of OCUL at $8.3545. Target price: $11. Last sale: $11.15.
Short one OCUL $11 September 18 call at $1.65. Last sale: $0.65.
Long 250 shares of ONDS at $8.5651. Target Price: $14. Last sale: $8.15.
Long 50 shares of PL at $24.4758. Target Price $46. Last sale: $21.43.
Long 10 shares of (RKLB) at $73.041. Target price: $101. Last sale: $66.60.
Long 100 shares of SOFI at $15.7153. Target Price: $24. Last sale: $18.84.
Long 50 shares of SWBI at $15.2614. Target Price: $19. Last sale: $13.50.
Long 100 shares of (VELO) at $12.2986. Target price: $21. Last sale: $12.87.
Cash: $334.23.
Portfolio value: $10,581.20, +5.8% from inception on March 24.
At the time of publication, Guilfoyle was long ALTO, ASPN, EVLV, OCUL, ONDS, PL, RKLB, SOFI, SWBI and VELO.
