Selling Rackspace, Buying Ondas Ahead of Earnings Season
There’s not a lot of news in our $10K Portfolio names on Monday morning. I am going to use this session, which comes one day ahead of both a plethora of macroeconomic releases and the unofficial start of earnings season to adjust a couple of positions that have gone semi-rancid on us.
Ondas Inc ($ONDS) has continued to scrape along the stock’s lows for about three weeks now. The stock, due to the low share price, is not subject to my $8 rule. That said, the position is still 20% against us. I do believe in this name and in all of the dough that the firm is spending trying to expand. I am going to increase the portfolio’s position size.
On top of that, Rackspace Technology ($RXT), which is a name that we had wanted to work our way out of, is now trading well above $5. I think we are going to start peeling those shares off until the portfolio is flat on that name. Note that I am leaving Velo3D ($VELO) as is at least for the moment. No news on that short report might be good news, but I also do not want to get reckless.
Portfolio News
Evolve Technologies ($EVLV)
On Monday morning, analyst Shaul Eyal of TD Cowen reiterated his “buy” rating on EVLV along with his $10 target price. Eyal is rated at five stars out of five by TipRanks. Over the past two years, he has had a 60% success rate while generating an average return of 26.4%.
Friday’s Intention vs Friday’s Actual Trade
Intention: Purchase 20 shares of ($INSG) at or close to the last sale of $8.77
Actual trade: Bought 20 shares of INSG at $8.82
Monday’s Intentions
Sell 15 shares of RXT at or close to the last sale of $5.20
Purchase 25 shares of ONDS at or close to the last sale of $7.17
Current Positions
Long 150 shares of ($ALTO) at $5.51. Target price: $8. Last sale: $5.64.
Long 70 shares of EVLV at $5.8746. Target price: $8.50. Last sale: $5.98.
Long 20 shares of INSG at $8.82. Target price: $11. Last sale: $8.82.
Long 200 shares of ($OCUL) at $8.271. Target price: $11. Last sale: $10.10.
Short one OCUL $11 September 18 call at $1.65. Last sale: $2.08.
Short one OCUL $9 July 17 call at $0.90. Last sale: $1.30.
Long 250 shares of ONDS at $8.976. Target price: $14. Last sale: $7.17.
Long 20 shares of ($PL) at $27.8225. Target price: $46. Last sale: $25.64.
Long 35 shares of RXT at $6.4529. No target price. Last sale: $5.20.
Long 145 shares of ($SOFI) at $15.9559. Target price: $24. Last sale: $19.33.
Short one SOFI August 21 $20 call at $1.02. Last sale: $1.17.
Long 30 shares of ($SWBI) at $15.74. Target price: $19. Last sale: $15.73.
Long 60 shares of VELO at $13.6343. Target price: $18. Last sale: $13.14.
Cash: $1,137.76.
Portfolio Value: $10,704.23, +7.0% from inception on March 24.
At the time of publication, Guilfoyle was long ALTO, EVLV, INSG, OCUL, ONDS, PL, RXT, SOFI, SWBI and VELO.
