Small Cap Stocks to Watch: May 15, 2017

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The markets look to open up higher, which may be attributed to the rise in oil prices, trickling down into energy companies. There’s some optimism in oil prices, after Saudi Arabia and Russia stated that the agreement to cut oil production could be extended by 9 months. Empire State Manufacturing Survey data was released at 8:30 AM, and the general business conditions index level came in lighter than expected. Housing Market Index data will be released at 10:00 AM ET, and the consensus estimate is 68. Now, there are some stocks moving ahead of the bell, and here are some small cap stocks to watch today.

Small Cap Stocks to Watch   

Cyren Ltd (NASDAQ: CYRN) shares are up over 30% this morning, after the company announced that its cloud security products were able to fully protect customers and partners from the recent wave ransomware attacks, known as WannaCry. That in mind, the company’s customers are currently protected from all variations of WannaCry attacks, and were initially protected from the malware outbreak by its email security and web security gateways, as well as cloud sandboxing services.

Here’s a look at CYRN during the pre-market:

Source: TradingView

Interpace Diagnostics Group Inc (NASDAQ: IDXG) is up over 20% during the pre-market, after the company filed an SEC Form 10-Q, which outlined the company had showed strong growth rates in the first quarter of the 2017 fiscal year. The company will be reporting these results after the close today, and it will host a conference call at 4:30 PM ET. In its 10-Q, the company reported net revenue of $3.47M, which was over a 14% growth rate year over year. Interpace reported a net income of $2.41M, compared to a net loss of $4.79M in the first quarter of the 2016 fiscal year. Consequently, the company reported an earnings per diluted share of 55 cents, compared to a net loss per share of $2.69 in the same period in the prior fiscal year.

Check out IDXG on the 15-minute chart:

Source: TradingView

 

DryShips Inc. (NASDAQ: DRYS) shares are down over 5% ahead of the bell, after the company provided updates on its key financial information, post reverse stock split. Here’s a look at what the company updated:

 

  • Cash and cash equivalents: approximately $268.8 million (or $27.92 per share)
  • Book value of vessels, net: approximately $356.8 million (or $37.06 per share)  
  • Sifnos Loan Facility balance: approximately $200.0 million
  • Number of Shares Outstanding: 9,628,852

 

Source: Marketwired

Take a look at DRYS on the 30-minute chart:

small cap stocks

Source: TradingView

Small-cap oil and gas companies are rising due to Russia and Saudi Arabia’s agreement to potentially increase production cuts for an additional 9 months. One notable stock that was up significantly due to this catalyst was Noble Corporation PLC (NYSE: NE), which is upver over 8% this morning. Other notable small-cap oil and gas stocks to watch today: Parker Drilling Company (NYSE: PKD) up over 6%; W&T Offshore, Inc. (NYSE: WTI) up over 3%; and Sanchez Energy Corp (NYSE: SN) up over 5%.

Here’s a look at NE on the daily chart:

Source: TradingView

Notice how the stock was forming a falling wedge pattern, and is set to gap up today with the positive catalyst.

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