Summer Solstice 2018 Conference NYC Webcast

Summer Solstice 2018 Conference
July 19th, 2018

Company   Webcast
Emergent BioSolutions (EBS)  Click Here to view
SWK Holdings (SWKH)  Click Here to view
Genprex Inc. (GNPX)  Click Here to view
InMed Pharma (IMLFF)  Click Here to view
Cytrx Corp. (CYTR)  Click Here to view
Kulicke & Soffa Industries (KLIC)  Click Here to view
Cordoba Minerals Corp (CDB)  Click Here to view
Cytodyn Inc (CYDY)  Click Here to view
Acme United (ACU)  Click Here to view
Singular Research: Why Small CAPS  Click Here to view

 

Singular Research 2018 NYC Booklet

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Singular Research Summer Solstice 2018 Conference Web Call Access

Singular Research Summer Solstice 2018 New York City

You are cordially invited to request access to the Singular Research Summer Solstice NYC Conference Webcast Investment Conference from July 19th, 2018

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Singular Research Director’s Letter : June 2018

Steady in June despite trade war rumblings and another rate hike

Despite headwinds from the specter of a looming trade War with China, a hike in interest rates and domestic political fervor over immigration policies, US markets, in what is historically a flat month, managed to eke out a slight gain in June, +48 basis points for the S & P 500. Many of these elements are negatives for large caps but could serve to benefit the performance of domestic small caps. The Singular Research coverage list performed in line with major domestic equity indices for the month of June.

Our top performers for June were: 1) Salem Media +35.5% bolstered from The District Court ruling clearing the humungous At&t- Time Warner merger. 2) Harvard Biosciences (HBIO) drawing renewed investor interest with analyst’s increased estimates for 2019, and 3) NV 5 Inc. (NVEE) benefiting from and improving outlook for domestic engineering & construction activity in 2018.

Our worst performers for June were: 1) Anika Therapeutics (ANIK) which received a setback from results in clinical tests on its Cingal product, 2) Wisdom Tree Investments ( WETF) suffering from market perceptions possible continuing outflows from its currency sensitive funds that are negatively correlated with the dollar, since this is a short call it is actually a positive refund for investors and : 3) Huttig Building Products ( HBP) disappointing investors hoping for a quicker resolution to its search for a new CFO.

In June we dropped coverage on : 1) Gray TV ( GTN) as its acquisition announcement of Raycom created a huge move up in price that nearly equally our 12-month target and : 2) Stamps.com (STMP) which reached out price target of $275 . Thus it has appreciated over 300% since we incepted coverage nearly 3 years ago.

Finally, we want to thank our loyal clients for their strong support and confidence over the last twelve years.

Sincerely,

Singular Research Staff

Singular Research Summer Solstice 2018 Conference, New York City, NY

Singular Summer Solstice 2018 Conference

July 19th, 2018

Convene
810 Seventh Ave., Midtown West
New York City, NY 10019

“The only performance-based conference in the small and micro-cap space – 

supported by unbiased research since 2004.”

Download Conference booklet

Singular Research NYC Conference PresentersSectorIndustry
8:00 AMRegistration & BreakfastRobert MaltbieWhy Small Caps Now
8:30 AMGladstone Land Corporation (LAND)Lewis Parrish CPA, CFOFinancialREIT - Diversified
9:00 AMEmergent Biosolutions (EBS)Robert Burrows, VPHealthcareBiotechnology
9:50 AMSWK Holdings. (SWKH)Winston Black, CEOFinancialAsset Management
10:40 AMGenprex Inc. (GNPX)Rodney Varner, CEOHealthcareBiotechnology
11:30 AMInMed Pharmaceuticals (IMLFF)Josh Blacher, VP Corp CommHealthcareSpecialty & Generic Drug
12:20 PMCytrx Corp. (CYTR)Eric Curtis, COOHealthcareBiotechnology
1:10 PMKulicke and Soffa Industries (KLIC)  Jos. Elgindy, VP Corp CommTechnologySemiconductor Equipment
2:00 PMCordoba Minerals Corp (CDB)Sarah Armstrong, PresidentBasic MaterialsMineral Exploration Company
2:50 PMCytoDyn Inc. (CYDY)CEO, Nader Pourhassan, Ph.D.HeathcareBiotechnology
3:20 PMAcme United Corporation (ACU)Walter Johnsen, CEOConsumer GoodsHousewares & Accessories
4:10 PMClosing CommentsRobert MaltbieThe Future of Active Management
* Lunch served from 12:00 - 1:00 PM

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Please fill out the following Registration Form. 1-1 meeting requests included. Comments or questions are welcome.

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Singular Research Director’s Letter : May 2018

Earnings surprise and positive guidance drive upside surprises.

May proved to be a good month to hold and stay.  The Singular coverage list had a good month, up 3.3% outperforming the S&P but lagging the Russell 2000 which was up nearly 6%.

The month was dominated by the close of a very strong earning season where aggregate S&P earnings were up nearly 23%. The other dominant trend was small caps began to pull away from their big cap brethren. We believe this outperformance is well supported by economic fundamentals. Small caps are more domestic focused and thus less vulnerable to International political- economic headwinds, also they seem to be benefiting from lower corporate tax rates and slightly rising interest rates due to lower levels of debt and previous inability to benefit from Financial engineering that buffeted big caps.

Finally, and possibly most significantly small caps tend to perform well when small business confidence increases. The index of small business confidence is at its highest level in over a decade.

Singular Research monthly performance May 2018

 

 

Our top performers for the month were lead by Olympia Financial (OLY). Olympia up 24.6%. It benefited from a strong earnings report and is supported by an attractive dividend yield of over 5%. 
Salem media followed with a 20.6% return, rebounding from an extreme oversold position condition. Investors also are starting to look towards the 2018 midterms and the increased ad revenue that will generate for the company.
Nmi Holdings improved 20.2% this stock is benefiting from the strong economy and prospects for longer and improved housing starts this year.

Singular Research top performers

 

 

 

 

 

Our worst performers to were led by EVIO, Inc, a Cannabis testing company,  down 29.4% due to a disappointing earnings report. Harvard Bioscience followed with a negative 23.5% return caused by profit-taking from its run of nearly a hundred percent over the last two very months.  Our third-worst performer was Biolase down 23.4% impacted by the departure of its CEO.

Singular Research worst performers May 2018

 

 

 

In May we initiated coverage on two new names. We started Wisdom tree Investments (WETF) with a sell due to its exposure to currencies and increased competition.  We launched Cordoba Minerals (CDB) with a buy as we believe the prospects of this Canadian Resource company for the development and discovery of copper and gold are bright in the years ahead.

Finally, we want to thank our loyal clients for their strong support and confidence over the last twelve years.

 

Singular Staff

Singular Research May 2018 Webcalls

 

Event:                        Video Cast
Harvard Bioscience (HBIO) Click here to view Video Cast
General Finance Corporation (GFN) Click here to view Video Cast
Trecora Resources (TREC) Click here to view Video Cast
Cordoba (CDB) Click here to view Video Cast
EVIO Labs Inc. (EVIO) Click here to view Video Cast

Singular Research May 2018 Webcalls

 

Event:                        Video Cast
Harvard Bioscience (HBIO) Click here to view Video Cast
General Finance Corporation (GFN) Click here to view Video Cast
Trecora Resources (TREC) Click here to view Video Cast
Cordoba (CDB) Click here to view Video Cast
EVIO Labs Inc. (EVIO) Click here to view Video Cast

Singular Research Director’s Letter : April 2018

Fake Earnings

The U.S Equity markets are not getting any much credit from the tax cuts yet this year. Earnings will be up a record 21%, the best showing in many years. We will focus on revenue growth in the quarter ahead as well as estimates and guidance. Investors are trying to figure out what the real rate of earnings growth is at this point counter balanced against rising interest rates. It looks like the peak for operating margins is in as real growth is lower margin vs financially engineered eps growth.

The” FANG “, continues to bang earnings growth as well as rank among the top spending corporations with lobbyists in DC as forward-thinking monopolists are paving the way for future growth, evidenced by the recent Facebook testimony in front of Congress. Where is the outrage? Where are the new proposals to protect our privacy? Facebook. will still be allowed to self-regulate. What would you pay for 20 to 25% earnings growth for the next five – ten years with virtually no competition. Certainly, more than the 20 to 30% premium the “FANG” is trading to the market right now.

Earnings are to the upside with q3 expected to be up over 20% as well. Valuations are not crazy either at a slight premium to the five-year average and historical average. Interest rates are still below average. But the market seems fairly valued and higher earnings are needed to propel the market higher from this level. Is the Fed neutral, based on money supply growth and GDP growth this seems to be the case. Should we worry that the spread between the two year and ten-year government bond is narrowing down to 40 basis points? Usually this is a strong indicator that a recession on the horizon. Meanwhile, the leading economic indicators continue to edge higher, a very good sign for the economy and the market.

In summary, it might be good to hold in May and go play. It looks like the market is going to have to grind it out until it has for evidence that there is solid earnings growth ahead into early 2019. Also, the mid-term elections in November will start to become an overhang and provide another potential negative for the market.
Another key question, will the market normalize and take the benefit of the tax cut and reinvest into the real economy or continue to engage in financial engineering via share buybacks and M&A.

Don’t get faked out, Stay long.

Singular Research Monthly Performance April 2018

April’s top performers combined were an eclectic bunch with varied influences likely contributing to outperformance. General Finance (GFN) posted a strong q1 and raised estimates slightly. EVIO Inc, (EVIO) was a new initiation with favorable news on growth plans, and Huttig Building Products, Inc. ( HBP) bounced back from an extreme oversold condition.

Top 5 Performers

The worst performer list had was led by LSI Industries (LYTS), hit with a surprise resignation of its CEO, followed by NMI Holdings (NMIH), suffering from some surprising price cuts by a competitor that spooked the market on the outlook for future margins, and closely followed to the downside by Salem Media( SALM), as investors continued to abandon a sector perceived to be another casualty of technological disruption and an aging audience.

Worst 5 Performers

We are excited to announce new coverage on EVIO Inc. (EVIO). EVIO Inc. is a leading provider of quality control testing, consulting and advisory services to the cannabis industry. The company owns 9 laboratories serving five states in the US – California, Colorado, Massachusetts, Oregon and Florida.
At Singular Research, we continue to seek out investment ideas that have minimal to no Wall Street coverage to add alpha for our active institutional following. We thank our clients for your support of independent equity research.

 

Singular Staff

Singular Research Spring Select Web Call

Please register for Singular Research Spring Select Web Call May 30, 2018 on May 30, 2018  starting at 6:00 AM through 2 pm PDT  at: 

https://attendee.gotowebinar.com/register/5091679309504580353

Singular Research presents its top select actionable ideas for alpha generation for 2018. 

After registering, you will receive a confirmation email containing information about joining the webinar.

schedule: all times PDT ( Pacific daylight time)

6 am : TBA

7 am: CDB// MARIO STIFANO//President & Chief Executive Officer

8 am: HBIO// Rob Gagnon -CFO

9 am: GFN// Charles Barrantes

10 am: TREC// Sami Ahmad

11 am: EVIO// William Waldrop

Noon: TBA

1 pm : TBA