HighPower International Soars After SEC Filing, Article
Battery-maker HighPower International, $HPJ, sparked investors’ interest on StockTwits.com Tuesday. The lithium-ion battery manufacturer, which is incorporated in Delaware but is the parent of a Chinese company Hong Kong Highpower Technology, filed its annual report with the SEC late Monday night.
Among the good news investors saw was nearly $2.1 million in before tax income on just under $132.9 million in 2013 sales. Shares climbed 32.58% intra day.
$HPJ is no april fools joke, they popped and then they kept on going. higher highs, higher lows.
— Daniel Aaron Andersen (@Volksgeist) Apr. 1 at 10:50 AM
Investors also reacted to a March 25 Seeking Alpha article by a research analyst who is long HighPower International shares. Report author Michael Fitzsimmons called for the stock to hit $6.40 in 2014 due to increased lithium ion battery demand in China. He said the company is well positioned, with a new battery factory coming on line this year, to fulfill demand in China for rechargeable devices and electric vehicles.
Some cashtaggers warned that enthusiasm for the stock may be overdone. They noted that the intra day trading price already exceeded the analyst’s target that had helped drive shares higher in the first place.
$HPJ has already reached SA writer´s PT. No point in buying here.
— Brian Kelly (@bdwight1) Apr. 1 at 12:56 PM
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