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
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