EGMI: Buy on Pullback (ROTH Capital Partners)
Buy on the pullback. We recommend investors buy shares of EGMI on
weakness as we believe panic selling has created a very attractive buying
opportunity. Shares are off -55% from its October highs and were down -12%
yesterday. In our opinion, there are several non-fundamental factors
contributing to the weakness which include the following:
VIEW ROTH CAPITAL REPORT
You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Ian, have you gotten any answers on the float issue. I recall one of you main points about owning stocks is a low float, I think you mentioned under 50 milllion shares. Where do you come down on the increasing amount of shares that some are concerned about and can’t be accounted for?
I spoke to the company about the error in the last Q3 report. There aren’t 70m shares out as the Q3 states, as its actually 63.5 million. They simply added the warrants and options and put 70 million shares out (which is the wrong way to do it). The fully diluted shares haven’t changed which remains around 72 million as it has been for a few quarters.
Hi Ian-
Thanks for all you research. Regarding EGMI- I’m very suprised by their financials snafus. It does not give me a comfortable feeling about how they will handle things as the grow. It’s amateurish. JMHO
rash
John:
Yes, that is why the stock has backed off quite a bit. I expect everything to be ratified in the next 45 days or so.
IC
1,994,995 SHORT INTREST 20.6 DAYS TO COVER.
surprise surprise
I just want to know where Sykes borrowed those shares. I think any reasonable individual following egmi probably realizes that the noise following the company would start to clear up in January, couple that with delivering on some deals, would want those shares returned before then.
This situation is explosive to the upside IMO
FORGET THE ABOVE I MADE A ERROR, THE DATA WAS FROM 12/2008.
sorry about that