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Article:
Trade-Ideas LLC identified Bonanza Creek Energy ( BCEI) as a strong on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Bonanza Creek Energy as such a stock due to the following factors:
- BCEI has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $4.0 million.
- BCEI has traded 1.1 million shares today.
- BCEI is trading at 2.73 times the normal volume for the stock at this time of day.
- BCEI is trading at a new high 17.07% above yesterday’s close.
‘Strong on High Relative Volume’ stocks are worth watching because major volume moves tend to indicate underlying activity such as M&A events, material stock news, analyst upgrades, insider buying, buying from ‘superinvestors,’ or that hedge funds and momentum traders are piling into a stock ahead of a catalyst. Regardless of the impetus behind the price and volume action, when a stock moves with strength and volume it can indicate the start of a new trend on which early investors can capitalize. In the event of a well-timed trading opportunity, combining technical indicators with fundamental trends and a disciplined trading methodology should help you take the first steps towards investment success.
More details on BCEI:
Bonanza Creek Energy Inc., an independent energy company, engages in the acquisition, exploration, development, and production of onshore oil and associated liquids-rich natural gas in the United States. Currently there is 1 analyst that rates Bonanza Creek Energy a buy, 4 analysts rate it a sell, and 17 rate it a hold.
The average volume for Bonanza Creek Energy has been 3.9 million shares per day over the past 30 days. Bonanza Creek Energy has a market cap of $66.2 million and is part of the basic materials sector and energy industry. The stock has a beta of 2.53 and a short float of 36.9% with 8.50 days to cover. Shares are down 73.2% year-to-date as of the close of trading on Wednesday.
Analysis:
TheStreet Quant Ratings rates Bonanza Creek Energy as a sell. The company’s weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.
Highlights from the ratings report include:
- The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Oil, Gas & Consumable Fuels industry. The net income has significantly decreased by 1227.5% when compared to the same quarter one year ago, falling from -$43.22 million to -$573.66 million.
- The debt-to-equity ratio is very high at 4.23 and currently higher than the industry average, implying increased risk associated with the management of debt levels within the company. To add to this, BCEI has a quick ratio of 0.57, this demonstrates the lack of ability of the company to cover short-term liquidity needs.
- Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Oil, Gas & Consumable Fuels industry and the overall market, BONANZA CREEK ENERGY INC’s return on equity significantly trails that of both the industry average and the S&P 500.
- Net operating cash flow has significantly decreased to $9.88 million or 80.92% when compared to the same quarter last year. In addition, when comparing the cash generation rate to the industry average, the firm’s growth is significantly lower.
- Despite any intermediate fluctuations, we have only bad news to report on this stock’s performance over the last year: it has tumbled by 94.89%, worse than the S&P 500’s performance. Consistent with the plunge in the stock price, the company’s earnings per share are down 1050.47% compared to the year-earlier quarter. Turning toward the future, the fact that the stock has come down in price over the past year should not necessarily be interpreted as a negative; it could be one of the factors that may help make the stock attractive down the road. Right now, however, we believe that it is too soon to buy.
Source: The Street