We are putting out a trade alert on Carver Bancorp Inc. (CARV) which is trading at around $5 and has moved up around 150% along with many other high flying low-float stocks like CHFS, CADC, LEDS and OPHC today.
CARV has 3.7 million shares outstanding and at around $5.00 it trades at market cap of under $19 million. Look at the last SEC filing. The 10-Q for for the quarter ended June 30, 2017 was filed November 14. The company had a net loss of $641,000. But that pales in comparison to the balance sheet:
The assets are financial and mortgage ones which should be relatively liquid. As long as the housing market doesn't collapse overnight like in the mid-2000's this is not an issue. The company has $47 million in total equity, more than double the market cap. There is preferred stock which complicates things. But this looks like a pick that could continue its run and is in better shape financially than comparable high flying stocks. CARV hit a high of $7.95 today. Let's see if it retests that. It has moved on very small volume so it has the potential to really rocket if buying comes in.
CARV has 3.7 million shares outstanding and at around $5.00 it trades at market cap of under $19 million. Look at the last SEC filing. The 10-Q for for the quarter ended June 30, 2017 was filed November 14. The company had a net loss of $641,000. But that pales in comparison to the balance sheet:
The assets are financial and mortgage ones which should be relatively liquid. As long as the housing market doesn't collapse overnight like in the mid-2000's this is not an issue. The company has $47 million in total equity, more than double the market cap. There is preferred stock which complicates things. But this looks like a pick that could continue its run and is in better shape financially than comparable high flying stocks. CARV hit a high of $7.95 today. Let's see if it retests that. It has moved on very small volume so it has the potential to really rocket if buying comes in.
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Disclosure: We are long CARV
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