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Itron, Inc. Message Board

  • ivanterrivle ivanterrivle May 4, 2000 3:18 AM Flag

    insider buying

    Do any of the many shorts in this stock ever
    worry that the company insiders are buying this stock?
    I would like to hear from anyone who is short this
    stock as to what their price objective is. When the
    people who know the most about this company are only
    purchasing shares, and these people don't make much more
    than $125,000 per year, why be short? This company is
    projected to make .22 cents this year and .36 cents next
    year. They already reported .05 cents vs. an estimated
    .01 for the quarter just ended. If they continue to
    beat estimates they could make .30 to .40 cents this

    I think the shorts are just complacent
    because things have gone well for them up till now, just
    as I was complacent with my longs two months ago.
    Now I am in a world of pain, wondering why I didn't
    take profits. Please for your sake and mine, cover
    your shorts and take your profits. The writing is on
    the wall.

    Fear and greed are the two emotions
    that predominate this business. Greed usually goes
    with the good times, when you are feeling invincible.
    It prevents you from taking profits. Fear comes when
    you suddenly realize that you are short the stock
    with the 3rd largest short interest ratio on the
    entire NASDAQ (ITRI) just as everyone recognizes that
    your short stock is all of a sudden a very successful
    turnaround in a hot industry. I am early to this realization
    but the recent earnings announcement, the insider
    buying and the uptrending stock chart are proof that
    this stock is going up.



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    • I wouldn't call 3500 shares a large block. It was
      that late in the day trade on Monday that triggered
      this week's rise. Not only were those Monday trades
      huge but they were well below the then market

      My guess would be that the long term outstanding
      short position was almost cut in half. For what reason
      I don't know. Either someone figured they don't
      need to hedge their convertible position anymore or
      someone figured Itron will not go broke the way Cellnet
      did. Now why would someone not feel the need to
      maintain their long standing hedge on their convertible

      The clue may be in the annual report where it talks
      about the possible uses of the cash from the Duquesne
      sale. It wouldn't suprise me if some "unofficial"
      information has been transmitted to the convertible holders.

    • Only a couple thousand shares each, they own. Not a ringing endorsement, IMO.

    • The real question is why are the insider
      purchases so small? The amounts seem to be in the $ 10,000
      range -- if I worked for a company that I believed was
      ready to roar I'd be willing to invest more than the
      price of a used VW in the stock especially when it's
      selling close to book. Why are the insiders so cautious?

      • 1 Reply to agdnieb
      • ITRI is leading the way for the rest of the tech
        industry. Its share price started a downward spiral way
        before it was fashionable to do so. The rest of the
        industry has struggled to keep up, (down?). ITRI share
        value goes down 75% in the last two years and Pres/CEO
        Nosbaum gets a $75K bonus for his efforts. This company
        is not only leading edge , but also charitable.
        Three cheers for the f**king idiots that currently run
        the asylum.

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