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Micro-Cap on the Move; WSP Holdings Limited (WH)

By Warren Paige

Shares of WSP Holdings Limited (ADR) (NYSE: WH), a China-based holding company engaged in the manufacturing of seamless Oil Country Tubular Goods (OCTG), soared in trading today.

WH shares ended the day 13.50% higher at $2.01 on above average volume of 122,301. The stock touched an intra-day high of $2.10 today.

WSP Holdings last month reported its first-quarter financial results. WH reported first-quarter revenue of $129.5 million, compared to $180.4 million reported in the previous quarter. Domestic sales accounted for 68.4% of the company’s total revenue for the first quarter.

WH’s gross margin for the first quarter was 2.1%, compared to 7.2% reported in the previous quarter. Loss from operations for the quarter was $11.3 million, compared to $8.5 million reported in the previous quarter. Net loss for the quarter was $16.6 million, compared to $13.7 million reported in the previous quarter.

 

 

July 13th, 2012 | Tags: | Category: Hot MicroCaps

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.