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
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
