Adding to Some Small-Cap Losers
Not a lot of portfolio-name-specific news flow on Wednesday morning. Q2 GDP was left unrevised at SAAR quarter-over-quarter growth of 1.5%. Headline July PCE was a touch warmer than expected on a month-over-month basis. July Personal Income and Personal Spending both surprised to the upside, though Spending decelerated from June.
July Durable Goods Orders posted a huge beat at the headline, which is sort of meaningless. The big story there is the huge miss for Core Capital Goods Orders as those are a proxy for industrial-focused business spending. Equity index futures have flipped red on the news. The portfolio, in response, will be adding to some of our worst-performing positions on this weakness, excluding Alto Ingredients ($ALTO) which is a name that we have been reducing exposure to (at higher prices) this week.
Portfolio News
Ocular Therapeutix ($OCUL)
On Wednesday morning, analyst Biren Amin of Piper Sandler reiterated his “buy” rating on OCUL as well as his $31 target price. Amin is rated at four stars out of five by TipRanks. He has compiled a 50% success rate over the past two years while generating an average return of 12.5%.
SoFi Technologies ($SOFI)
On Tuesday, analyst Vincent Caintic of BTIG reiterated his “hold” rating on SOFI without setting a target price. Caintic is rated at four stars out of five by TipRanks. He has compiled a 53% success rate over the past two years while generating an average return of 7.5%.
Tuesday’s Intentions vs Actual Trades
Intention: Purchase 40 shares of ($ASPN) at or close to the last sale of $5.13
Actual trade: Bought 40 shares of ASPN at $5.23.
Intention: Sell 25 shares of ALTO at or closer to the last sale of $4.07
Actual trade: Sold 25 shares of ALTO at $4.00
Wednesday’s Intentions
Purchase 10 shares of ($EVLV) at or close to the last sale of $5.41
Purchase 10 shares of ($SWBI) at or close to the last sale of $13.51
Purchase 5 shares of ($PL) at or close to the last sale of $21.55
Current Positions
Long 225 shares of ALTO at $4.9676. Target price: $8. Last sale: $4.00.
Long 40 shares of ASPN at $5.23. Target price: $10. Last sale: $5.23.
Long 85 shares of ($EVLV) at $5.8876. Target price: $8.50. Last sale: $5.41.
Long 100 shares of OCUL at $8.3545. Target price: $11. Last sale: $11.15.
Short one OCUL $11 September 18 call at $1.65. Last sale: $0.65.
Long 250 shares of ONDS at $8.5651. Target Price: $14. Last sale: $8.15.
Long 50 shares of PL at $24.4758. Target Price $46. Last sale: $21.43.
Long 10 shares of ($RKLB) at $73.041. Target price: $101. Last sale: $66.60.
Long 100 shares of SOFI at $15.7153. Target Price: $24. Last sale: $18.84.
Long 50 shares of SWBI at $15.2614. Target Price: $19. Last sale: $13.50.
Long 100 shares of ($VELO) at $12.2986. Target price: $21. Last sale: $12.87.
Cash: $334.23.
Portfolio value: $10,581.20, +5.8% from inception on March 24.
At the time of publication, Guilfoyle was long ALTO, ASPN, EVLV, OCUL, ONDS, PL, RKLB, SOFI, SWBI and VELO.
