Despite the failure this week of the NASDAQ Composite Index to make it to new highs, these 5 NASDAQ listed stocks all showed real strength by taking out previous peaks in price and establishing fresh multi-year highs:
Points International is an internet information provider based in Canada. The stock hasn’t been this high since 2015.
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On May 10th, the small cap ecommerce company reported excellent first quarter results and buyers noticed: a 22% profit gain and 66% increase in “adusted EBITA.” The stock traded at 8 last summer and last week went for 13 before backing off a bit.
First Financial Bancorp is a Cincinnati-based financial services firm with operations all over Ohio, Kentucky and Indiana.
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First quarter earnings recently came in at beyond the expectations of banking analysts. The stock has run from 22 last September to 32 last week, a nice gain for a company paying a 2.4% dividend at a time when rates have been rising.
Luminex makes medical equipment and supplies with headquarters in Austin. They beat analysts expectations with the release of their first quarter report and that has had a salutory effect on the stock price.
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The stock has had quite a run in just the month of May — almost touching 19 earlier and last week running up to above 27.
Mobile Mini manufactures packaging and containers with operations throughout the country,
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They’re based in Phoenix and have been earning money steadily on a 5-year basis and over the last year. The stock has run-up from 23 in late 2016 to last week’s high of 46 — a 100% gain, not bad. The price/earnings ratio is 39, they’re paying a 2.16% dividend and the short float sits at 4.19%.
Pinnacle Entertainment operates casino resorts in East Chicago, Kansas City, Vicksburg and many other spots around the country. The company just beat the expectations of analysts with their first quarter results.
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Pinnacle has moved from 14 at the beginning of 2017 to 34 last week. The free cash flow is good and the earnings record is positively solid for last year and over the previous 5-years.
Investors right now are showing more confidence in these lower volume issues than in some of the better-known large capitalization stocks that drive the Composite Index.
Despite the strength is these particular stocks, a problem for the NASDAQ issues overall may be the declining number of stocks trading above their 200-day moving average — much lower now than at the beginning of the year as you can see on this chart:
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Until that downtrend line (in dotted red) is crossed over again to the upside, it might be hard to get too excited, generally, about what’s happening in this section of the stock market.
I do not hold positions in these stocks. No recommendations are made one way or the other. If you’re an investor, you’d want to look much deeper into each of these situations. Always do your own independent research, due diligence and seek professional advice from a licensed investment adviser.
Metrics courtesy of FinViz.com