Float is 182k with 77% held by institutions. With and average volume of under 3 million, and current volume at 46 million (wow), some institutions are reducing their position.
However, at some point, other institutions should jump in and add KORS to their fund portfolio. To goog to pass up.
This appears to be the result of institutional selling. Some institutions appear to be moving out of KORS. With the large float, this explains the high volume.
This is the only real explanation for KORS to be trading at absurdly low PPS and PE levels. Great entry point for long term investors.
And JP Morgan downgraded and slashed from 42 down to 30. It is had to understand and believe analysts. Many have an ulterior motive, like saving their a%%, when theyhave been pumping a bad stock.
LOL! Admitted ambulence chaser here. Well at least I read the report and went short as soon as I could. A small company like this losing 1 major drug is not good. Their other drugs may be good, bit come on, the stock price was way ahead of itself. Not going out of business, but PPS in for a does of reality.
Look for OTIC to test either of those levels.
I don't count cramer for anything. He in nothing but a hindsight guy. The others make me feel this is overly punished. I expected worse from URBN, like many retail mall stores. But, there are many here who are looking for URBN's demise, which is not apparently happening. Shorts had their day. I am picking up morsels at decent prices.
Urban Outfitters shares should be bought on weakness, says SunTrust
Urban Outfitters weakness a buying opportunity, says Brean Capital $46
Urban Outfitters weakness overdone, says RBC Capital
Urban Outfitters shares should be bought on weakness, says BMO Capital
Baird price target $42
Piper Jaffrey, Openheimer, and JP Morgan have price targets $35-36.
So, analysts are all over the place. But general consensus are price targets above $35.
Well, since it is on grey sheets, it is really tough to predict which way it will from this initial gap down. It was initially down to .75 on only 10,000 shares. Not everyone has access to trading Grey, so long time shorts and and longs may not be able to trade for a while.
Hopefully you did not buy right at the open. But forward PE at 14 looks appealing.
LOL at myself. I knew that in AH AERI hit $10 on Thursday, but I just didn't think it would drop that far to look for support. damn, oh well.
Thanks , "even a blind squirrel finds an acorn once in a while".
There was a lot of downward pressure once AERI got to 15. Analysts don't seem as negative a the day traders here. But all that matters in PPS, not opinion. We'll see what happens from here. I expect a gradual trend upward, not a huge spike though. Patience will be rewarded.
AH action on Thursday had AERI treading water around the 10.6 level before moving higher. There were a lot of shares traded around 10.6 - 10.7 on Thursday , so it would not surprise me to see 10.6 as support. JMHO based on trading action I watched Thursday night. Bought at $10, sold at $14 Friday. I am in again now below 10.9.
When I read the news, I thought I could get a short in right after the halt around $30. When it gap opened below $10 I was stunned and went long instead. What a drop in AH. Low volume and low float contributed to the over done plunge.
PE and Forward PE (15 & 13) are good. The earning miss is slight. The low float+miss+resignation=exaggerated AH move.
AH is a great entry point. Nothing scary here.