We’re Cashing in on 3 Small-Cap Names as the Market Rallies
Some strange but true updates on our “$10K Portfolio” names.
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The portfolio does have a couple of earnings releases coming up on Thursday evening. I do not trust this Wednesday rally. I’ll be happy to be wrong about that and play catch up, but I am going to use this pop to continue to increase cash levels for now, just at a slight premium to what I could have done on Tuesday.
Upcoming Portfolio Earnings
Planet Labs (PL): After the closing bell on Thursday, September 3. Expected: Adjusted EPS of -$0.02 on revenue of $104.25 million.
Smith & Wesson Brands (SWBI): After the closing bell on Thursday, September 3. Expected: Adjusted EPS of -$0.05 on revenue of $98.7 million.
(Strange, But True) Portfolio News
Planet Labs (PL)
On Wednesday morning, analyst Michael Filatov of Berenberg initiated coverage of PL with a Buy rating and a $25 target price. Now, for the sobering part. Filatov is rated at zero stars out of five at TipRanks. In fact, he is ranked by the service at number 12,154th out of the 12,498 sell-side analysts covered. Over the past two years, Filatov has compiled a success rate of 30% while generating an average return of -27.1%. No, you can’t make this stuff up.
Rocket Lab (RKLB)
Ready for this one? Analyst Michael Filatov of Berenberg was apparently busy. Filatov also initiated coverage of RKLB with a Buy rating and an $83 target price. You already know what TipRanks has to say about this analyst. No need to repeat it.
SoFi Technologies (SOFI)
Here’s another one from the “believe it or not” collection. Scotiabank initiated coverage of SOFI with an Outperform rating (which is a buy-equivalent) and a $25 target price. Now for the “what the heck?” part. There is no analyst named in the accompanying note. I cannot reliably tell you how Scotiabank’s analyst stacks up against his or her peers because Scotiabank, as far as I can tell, did not identify the analyst.
Tuesday’s Intention vs Actual Trade
Intention: Sell 100 shares of (ALTO) at or close to the last sale of $3.90
Actual trade: Sold 100 shares of ALTO at $3.98
Wednesday’s Intention
Sell 5 shares of PL at or close to the last sale of $19.80
Sell 25 shares of (ONDS) at or close to the last sale of $7.39
Sell 15 shares of (VELO) at or close to the last sale of $11.44
Current Positions
Long 100 shares of ALTO at $4.5125. Target price: $6.50. Last sale: $4.05.
Long 40 shares of (ASPN) at $5.23. Target price: $10. Last sale: $4.89.
Long 100 shares of (EVLV) at $5.7883. Target price: $8.50. Last sale: $5.14.
Long 100 shares of (OCUL) at $8.3545. Target price: $11. Last sale: $10.49.
Short one OCUL $11 September 18 call at $1.65, Last sale: $0.35.
Long 250 shares of ONDS at $8.3642. Target price: $12. Last sale: $7.39.
Long 55 shares of PL at $24.1931. Target price: $33. Last sale: $19.80.
Long 5 shares of (RKLB) at $77.936. Target price: $97. Last sale: $62.76.
Long 100 shares of SOFI at $15.8511. Target price: $24. Last sale: $17.86.
Short one SOFI $22 November 19 call at $1.20. Last sale: $0.69.
Long 70 shares of (SWBI) at $14.9645. Target price: $19. Last sale: $12.86.
Long 100 shares of (VELO) at $12.2986. Target price: $18. Last sale: $11.44.
Cash: $822.93.
Portfolio Value: $9,952.64, -0.5% from inception on March 24.
At the time of publication, Guilfoyle was long ALTO, ASPN, EVLV, OCUL, ONDS, PL, RKLB, SOFI, SWBI and VELO.
