If you were to judge the Nasdaq listed penny stock of Navarre Corp. (NAVR) based on their cash position from their last 10-Q, you would be waiting for a pump. However, there’s no pump needed for this Minneapolis, Minnesota based e-commerce solution provider, especially after certain insiders just bought 34,000 shares of NAVR stock. With operating costs down $6.7 million for the first 6 months of fiscal 2013 and an acquisition on the table, the chances of seeing $2 in the next 12 months are very possible.
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NAVR Stock Chart
Market Cap: 61.72M
Friday Close: 1.66, down -0.02 (-1.19%)
Volume: 7,786
High: 1.68
Low: 1.66
Trades: 15
Average Trade Size: 519
52wk Range: 1.17 – 1.89
Authorized: 100,000,000
Issued and Outstanding: 37,179,696
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At the close of October, insiders grouped under Becker Drapkin Management, L.P. scored 34,000 shares of NAVR stock at $1.6498 a share. (see here) This was the second consecutive month end that the group filed increaees int heir position: 27,000 shares at $1.546 at the end of September. (see here) So what is it they know that investors don’t?
How about the fact that Navarre Corp. had $0 debt as of September 30, 2012.
On September 27, 2012, Navarre entered a definitive agreement to acquire SpeedFC, a provider of e-commerce services to online retailers and manufacturers for at least $50 million in cash and stock. This transaction, subject to SpeedFC hitting an undisclosed target EBITDA for the 12 months ended Dec. 31 of this year, is expected to close in sometime this month.
Based on the fact that Navarre executives have already made some significant cost cutting moves and expect between $460 and $480 million in fiscal 2013 revenues, projected to result in adjusted EBITDA between $9.0 and $11.0 million, the acquisition of SpeedFC, which did roughly $57.5 million in revenue in the 12 months ended June 30, 2012, will be a significant boost to top and bottom line. The bonus is Navarre closing the deal prior to the holiday season and being able to book the revenues from the seasonal spike in e-commerce transactions.
About NAVR Stock
Navarre Corporation is a distributor, provider of complete logistics solutions for traditional and e-commerce retail channels and a publisher of computer software. The Company operates through two business segments — distribution and publishing. Through the distribution business, the Company distributes computer software, consumer electronics and accessories and video games and also provides fee-based logistical services. Through the publishing business, the Company owns or licenses various widely-known computer software brands through Encore Software, Inc.
Click here to view the SEC filings for NAVR.
Bottom Line: Look long on the penny stock of Navarre Corp. and you could see an easy 30-40% gain within 12 months from where NAVR stock is currently priced at. NAVR is set top open Monday at 2.62% above the 50-day moving average (1.62), 8.07% above the 200-day moving average (1.54), -12.17% below the 52-week high (1.89) and 41.88% above the 52-week low (1.17)
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