The Top Small Cap Performers for June 4, 2019

By: Ian Cooper
03:56 06/04/2019

Some of the best performing small cap stocks of the day included:

Scworx Corporation (WORX)

Shares of WORX were up more than 34%, or $1.59 on the day on volume of 749,135, as compared to daily average volume of 23,623. All on news that it signed a new five-year agreement with a large healthcare company. The agreement has two components, the first, a services contract, is valued at $900,000 per year for annual license fees, consisting of data management services and an analytics suite of application solutions, and includes $100,000 for initial implementation for year one.

The second component is a distribution arrangement under which this large health care company may distribute the Company’s data management solutions to the more than 2,000 hospitals with which it has existing business relationships. The Company expects that this distribution arrangement will substantially increase the Company’s exposure in the healthcare marketplace. SCWorx’s core data management solution, ‘Platform of One’, offers clients the ability to integrate data flow across multiple operational disciplines streamlining time to delivery of the data solutions as well as lower operational costs through automation.

Basic Energy Services Inc. (BAS)

Shares of BAS were up 29%, or 58 cents on the day after announcing a share repurchase program just days ago. Its Board of Directors has authorized the repurchase of up to $5.0 million of its outstanding shares of common stock from time to time in open market or private transactions at the Company's discretion. This authorization expires on June 4, 2020. The timing and actual number of shares repurchased will depend on a variety of factors including the stock price, corporate and regulatory requirements and other market and economic conditions.

Castor Maritime Inc. (CTRM)

Shares of CTRM are up 35.5%, or $1.51 on the day on volume of 7.16 million shares, as compared to daily average volume of 329,360. All on earnings.

For the six months ended March 31, 2019, voyage revenues increased to $2.04 million from $1.70 million, in the same period of 2018, a 20% increase. EBITDA for the period was $0.67 million, a 50% increase as compared to $0.44 million in the same period of 2018. The daily TCE of our sole fleet vessel for the six months ended March 31, 2019 stood at $10,843, slightly higher than the $10,761 earned during the same period ended March 31, 2018. Average daily OPEX of the vessel for the period came at $4,956, a 5.6% decrease from the respective period of 2018. Cash and cash equivalents as of March 31, 2019 amounted to $2.64 million.

Petros Panagiotidis, the Company’s Chairman and CEO, stated, “We are very pleased with our performance for the six months ended March 31, 2019, the first period we report results as a NASDAQ listed entity. We believe that the dry bulk market will be rewarding in the years to come despite the normal shorter-term volatility exhibited. In this context, we are focused on taking advantage of market opportunities in order to maximize our profitability and opportunistically enlarge our fleet.”

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