• September 26, 2022

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These 4 stocks are bouncing so well off of their June lows that they’ve each managed to establish new 50-day highs. That is, they’re higher now than at anytime in the past 50 days of trading. Although no guarantees exist that they’ll continue to move up with such force, it’s worth considering how much buying energy in these is returning.

Co-Diagnostics is a NASDAQ
NDAQ
-traded “molecular diagnostics” company:

The company is up trending steadily from the mid-May low of just above 3.50 and, as the chart shows, now goes for 6.15. That’s a quick 43% gain in a short period of time. Co-Diagnostics trades with a price-earnings ratio of just 4.73 and at just 1.41 times book value, giving it the profile of a value stock. This year’s earnings are down by 19.20%, however, the EPS growth rate for the past 5 years is 52.60%. Average daily volume is relatively light at 363,000 shares.

Prestige Consumer Healthcare is a medical distribution firm traded on the New York Stock Exchange:

After selling off to just below 52 in April, the stock is showing a series of higher lows in May and June. The July buying on steadily heavier volume has taken Prestige above the May high price, a short-term kind of breakout. This year’s earnings increased by 24.10% and the growth of earnings over the last 5 year is a positive 8%. The price-earnings ratio is 14.77. It’s another one that’s lightly traded with 276,960 shares for an average daily volume.

QuidelOrtho hit 107.63 today, up from its mid-June low of just under 90:

It’s dropped a long way from the December, 2021 peak of 180, but seems to be finding support around that 90 level. QuidelOrtho has managed to bounce off of it 3 times now this year. With this rally, the stock has taken out the late May resistance of 105. The diagnostics and research company has negative earnings this year, down by 11.60% but the past 5-year earnings record is a positive 110.10%. The firm has no debt, a positive 4.30 current ratio and average daily volume of 707,000 shares.

uniQure is a Netherlands-based biotechnology company:

Whether they can continue to rally for the rest of the summer — or the rest of the year — is the question but lately these 4 stocks have been outperforming. This is another one with a big drop late last year that is now making it way back up. The May low was just under 13 and today’s high is 21.91. uniQure’s earnings this year are up by 350%. The 5-year earnings growth rate is 34.50%. With a price-earnings ratio of 3.18 and a price-to-book ratio of 1.87, it’s a biotech that almost fits the value profile.

These are 4 low price-earnings ratio stocks all hitting new 50-day highs. Have they already priced in a Fed interest rate hike this month? Have they already priced in the effects of inflation? We’re about to find out.

Not investment advice. For information purposes only.

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