Happy Sunday Traders!
New Trade Alert: PositiveID Corp. (OTCMKTS: PSID)
It’s been a crazy year so far in 2017. We’ve seen some truly remarkable action, including several sub-penny stocks getting picked up and turned into major market momentum plays.
Today’s new alert may have that kind of potential. The ticker is PSID. The company is broadly a medical device player in the diagnostics and threat detection spaces. The float is small and the company is already pulling in huge revenues.
The stock has been flying under the radar, but technicals suggest it is badly overdue for a bounce – and it might be an awfully big one.
Please give this stock your full attention. Our profile follows…
PositiveID Corp. (OTCMKTS: PSID) develops and sells molecular diagnostic systems for bio-threat detection and rapid medical testing. The company has several business segments.
These really boil down to M-BAND, FireFly DX, E-N-G Mobile Labs, Thermomedics and Caregiver. M-BAND technology analyzes air samples for the detection of pathogenic bacteria, viruses, and toxins for up to 30 days. Firefly Dx is an automated pathogen detection system for rapid diagnostics for clinical and point-of-need applications. Caregiver is a non-contact clinical thermometer. The company also manufactures and sells specialty technology vehicles for mobile labs, command and communications centers, and cellular applications.
The company made huge strides last year and is now trading in front of a fresh set of earnings data that will hit on March 30. We believe the market may start to force some short covering ahead of that data given some of the major progress this name has been showing.
For Firefly Dx, not only did they prove its breadboard prototype pathogen detection system functions as intended, but they also found success in detecting Zika (Firefly Dx prototype system is already established in detecting Ebola, MRSA, MSSA, C. diff, E. coli, influenza and other pathogens). Perhaps more exciting, they were awarded a follow-on contract from the U.S. Department of the Interior on behalf of the U.S. Department of Homeland Security Science & Technology Directorate for the SenseNet Program Phase II, to use Firefly Dx in conjunction with its partner ENSCO. They also successfully detected genetically modified organisms on the Firefly Dx prototype system during a pilot study with seqID inc.; results were consistent with the industry-standard, lab-based equipment used to detect the GMOs during the pilot study.
For their E-N-G Mobile Systems product, the big headline is the shipment of a single lab for $700k in sales to a customer. They also saw a doubling in 2H vehicle production and modification orders, as well as service business, and announced purchase order for $1.2M for mobile labs.
Finally, in their Thermomedics and Caregiver lines, the company signed seven new acute care medical specialty distributors for its FDA-cleared Caregiver non-contact, infrared thermometer in 2016, bringing the total to nine for the U.S. They followed that up by winning an appeal in patent infringement case in U.S. Court of Appeals in the patent infringement suit brought by Exergen Corporation. To round out the year, they proceeded to successfully test the first Bluetooth-enabled version of Caregiver, and announce that Caregiver outperformed a temporal artery thermometer during a Veterans Affairs San Diego Healthcare System study of Post Anesthesia Care Unit patients, and exceeded industry laboratory standards for accuracy and showed a high level of agreement in a pediatric study
“We are very proud of the accomplishments made by the PositiveID team in 2016, including building the sales backlog and pipelines to grow these businesses for the future while we pursue a strategic partner to fund the completion of the development and testing of Firefly Dx,” said William J. Caragol, Chairman and CEO of PositiveID. “In 2017, we expect to see those efforts continue to take root and pay off, and believe we can expand our businesses both organically and through acquisition in 2017 and beyond.”
PositiveID will announce its financial results for the fourth quarter and year ended December 31, 2016 when it files its Form 10-K on or about March 30, 2017.
The stock is a deep sub-penny name right now. But we see clear signs in the tape that hint of an increased bounce potential in recent days. There are lots of long tails to the downside – days where the stock traded lower but closed back above key support. Average transaction volume has been increasing as well.
All of these signs point to an increasing potential for some bounce action in PSID shares. The last time we saw these same signals, the stock went berserk for 1200% in just a couple days.
Hold onto your hats, guys. This one can move. Just be ready!
PSID (PositiveID Corp.) develops and sells molecular diagnostic systems for bio-threat detection and rapid medical testing. The company focuses on microfluidic systems for the automated preparation and performance of biological assays to detect biological threats at high-value locations and analyze biological samples at the point of need.
PSID has a portfolio of intellectual property related to sample preparation and rapid medical testing applications.
The company’s M-BAND technology is a bio-aerosol monitor with integrated systems for sample collection, processing, and detection modules. M-BAND technology analyzes air samples for the detection of pathogenic bacteria, viruses, and toxins for up to 30 days.
The company’s Firefly Dx is an automated pathogen detection system for rapid diagnostics for clinical and point-of-need applications. Firefly Dx system detects and identifies common pathogens and diseases, such as E. coli, methicillin-resistant staphylococcus aureus, methicillin-susceptible staphylococcus aureus, clostridium difficile, influenza, and others.
In addition, PSID markets the Caregiver, a non-contact clinical thermometer that measures forehead temperature in adults, children, and infants for hospitals, physicians’ offices, medical clinics, nursing homes and other long-term care institutions, and acute care hospitals; and manufactures and sells specialty technology vehicles for mobile labs, command and communications centers, and cellular applications.
What You Need To Know:
- PSID ENG division just shipped a $700K sale and got a purchase order for another $1.2M.
- PSID FireFly DX division recently successfully detected Zika.
- PSID has a small trading float of just 44M, which suggests the stock could launch higher on any additional influx of interest.
- PSID is making real money, with trailing revs already coming in at $4.8M.
- PSID is coming off an RSI trough under 40, pointing to a massively oversold stock now heading back the other way.
- PSID is seeing a sharp increase in average daily transaction volume, possibly hinting at accumulation ahead of earnings data out later this month.
For all of these reasons, we are now pounding the table on PSID. Good luck and Enjoy the Ride!
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