Thursday, February 12, 2015

Titan Machinery Unusual Volume With No News

 Is it Undetected Insider Trading ............again?
(click images to enlarge)

Titan Machinery (21 million shares outstanding) only averages volume per day of approximately 160,000 shares but yesterday it traded nearly 1 million shares. Titan is a quiet under the radar stock that trades hardly any volume and recently has traded under 100,000 shares per day during the past month. Aside from the 4 days a year that the company reports quarterly results the shares never really trade more than 200,000 shares per day. So let's see what happens today and the rest of the week to find out if there is possibly some news coming out that maybe someone was privileged to yesterday?@#$%^&????

I am suspicious of the trading yesterday because this happen once before and after an unusual spike in volume with no news on a quiet July day prior to a 4th of July trading holiday, but days later the company filed that the company's original auditor for nearly 30 years had resigned.  I raised the red flag back then but because my following is quite small nobody paid any attention.

T.R. says:

SEC received TITAN 8-K July 2,2013 @ 16:56:12 est.
The unusual volume on the morning of June 28,2013 looks like somebody saw this 8-K coming.

Chart from May through July 2013 (see volume before news

Titan Machinery (NASDAQ : TITN) is a very peculiar stock. The company has a market capitalization of nearly $300 million but the company's underlying fundamentals disclose a business that is on the brink of bankruptcy.  Shares of the stock are being held and practically tied up by a group of major mutual funds that for some reason have added to their positions as the company's future becomes more and more in doubt.

Titan has a history of questionable related party transactions and a family member who has led underwriting from a boutique investment firm.

Questionable Accounting: 
 "in certain circumstances, n upon the customer's written request, equip revenue is recognized before delivery occurs"

From Morningstar: Institutional Holdings

Thursday, February 5, 2015


Stratasys (NASDAQ: SSYS $58.38) was top short pick here at Equities Research based on their poor fundamentals and low margins.
The Shares had a nice run higher after a September 2013 underwriting led by JP Morgan when the company received over $400 million.
After announcing poor quarterly results this week shares tumbled over $25 this week as investors lost nearly 30% since Monday.