Monday’s second biggest percentage gainer on the big boards, Stereotaxis Inc. (STXS), experienced its largest volume trading session in more than three years. The rally initiated prior to the Company announcing that former President and CEO of Accuray Inc. (ARAY), Dr. Euan Thomson, was elected to its Board of Directors. On the heels of a 10-for-1 reverse split and a stock and warrant purchase agreement, STXS stock surprised everyone trading nearly roughly 16% of the outstanding shares, 26% of the float, with intraday gains as high as 108.94%. Coupled with the expected growth in revenues in Q3, the volume has never been more bullish for the cardiology instrument control manufacturer.
Based on the numbers from the May 7 “PIPE SPA,”, STXS is a must have on the list of penny stocks.
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STXS Stock Chart
Market Cap: 14.62M
Close: 1.90, up 0.67 (54.47%)
Volume: 1,266,737
Est. Dollar Volume: $2,571,476
High: 2.57
Low: 1.20
Trades: 3,640
Average Trade Size: 348
Authorized: 100,000,000
Issued and Outstanding: 7,803,921
Float: 4.62M
% Held by Insiders: 36.13%
% Held by Institutions: 21.80%
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With positive news coming from Stereotaxis of secured orders from hospitals looking to advance robotic research and support procedure growth with re-up orders for additional Niobe® ES systems by hospitals in Europe, Q3 sales should provide the growth needed to 2010 numbers: $54,051,237. For the six months ended June 30, 2012, revenue numbers were “steady” compared to the same six month period in 2011: $9,042,612 versus $9,312,719.
However, with a substantial decrease in operating expenses during Q2, Stereotaxis ended the quarter “in the black” with net income of $2,806,427, $0.42 per basic share or $0.32 per diluted share. The good news of this, factoring in the net losses of approximately $378 million since their inception, is that the tax loss carry forward can now begin to benefit the Company should they continue this path of growth.
Factor in that $8.5 million in aggregate principal amount of unsecured, subordinated, convertible debentures were issued second quarter of 2012, which became convertible into shares of the Company’s STXS stock at a conversion price of $3.361 per share (approximately 2.5 million shares), the current PPS of Stereotaxis would have a potential upside of 76.89%.
STXS stock is currently trading at:
- 37.51% above the 50 day moving average: 1.38;
- -19.69% below the 300 day moving average: 2.37
- -85.61% below the 52 week high: 13.20; and
- 88.12% above the 52 week low: 1.01
About STXS Stock
Stereotaxis, Inc., and its wholly-owned subsidiaries. Niobe®, Epoch™, Odyssey™, and Odyssey Cinema™, designs, manufactures and markets the Epoch Solution, which is an advanced remote robotic navigation system for use in a hospital’s interventional surgical suite, or “interventional lab”, that the Company believes can revolutionize the treatment of arrhythmias and coronary artery disease by enabling enhanced safety, efficiency and efficacy for catheter-based, or interventional, procedures.
Click here to view the SEC filings for STXS.
Bottom Line: STXS is a must add to the list of penny stocks to watch. STXS stock was trading above $40 a share just 18 months ago. With earnings expected out the day before America votes, the revenue numbers for Q3 could easily send this Nasdaq penny stock into a level equal to or greater than the level whereby the convertible debentures are calculated at.
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