Stock Alert for Converted Organics Inc.
* Financial status indicator is deficient: Issuer failed to meet NASDAQ continued listing requirements.
Converted Organics Inc. (COIN) operates processing facilities that use food waste as raw material to manufacture all-natural soil amendment products combining nutritional and disease suppression characteristics. In addition to its sales in the agribusiness market, the Company sells and distributes its products in the turf management and retail markets. As of December 31, 2008, the Company operated two facilities: Woodbridge facility and Gonzales facility. The Company derives revenue from two sources: tip fees and product sales. Waste haulers pay the tip fees to the Company for accepting food waste generated by food distributors, such as grocery stores, produce docks, fish markets and food processors, and by hospitality venues, such as hotels, restaurants, convention centers and airports. On January 24, 2008, the Company acquired Waste Recovery Industries LLC (WRI) and United Organic Products LLC (UOP).
Converted Organics Inc. was founded in 2003 and is headquartered in Boston, Massachusetts.
|
Share Statistics (09-Feb-10) |
FY 2007 |
FY 2008 |
% Chg |
Q3 2008 |
Q3 2009 |
% Chg |
||
| Symbol |
COIN |
Revenue, $Mn |
0.0M |
1.55M |
100.0% |
n/a |
747K |
n/a |
| Current price |
$0.92 |
Gross marg. |
n/a |
-28.0% |
n/a |
n/a |
-141.0% |
n/a |
| 52wk Range: |
$0.57-3.30 |
Oper. margin |
-n/m |
-670.6% |
38.5% |
n/a |
-452.5% |
n/a |
| Avg Vol (3m): |
1,989,420 |
Net margin |
-n/m |
-1043% |
-5.3% |
n/a |
-643.9% |
n/a |
| Market Cap. |
34.6M |
|||||||
| Dil. Shares Outst. |
37.7M |
EPS, $ |
-0.87 |
-2.70 |
210.3%% |
n/a |
-0.24 |
n/a |
Source: Reuters.com, SEC Filings.
Financial Summary
COIN announced that third-quarter 2009 sales of organic fertilizer products from the Company’s Gonzales, California manufacturing facility increased approximately 64% over sales from the quarter ending September 30, 2008. The Company also reported a positive operating margin from its Gonzales plant of approximately 11% of sales for the quarter ended September 30, 2009, as compared to a negative operating margin of 45% of sales for the same quarter in 2008.
| Financial Strength (09-Feb-2010) | Company | Industry | Sector | S&P 500 |
| Quick Ratio (MRQ) | 0.24 | 1.46 | 0.61 | 0.80 |
| Current Ratio (MRQ) | 0.28 | 2.28 | 0.86 | 0.94 |
| Long-Term Debt to Equity (MRQ) | 1,830.15 | 30.24 | 24.77 | 127.02 |
| Total Debt to Equity (MRQ) | 1,989.85 | 46.22 | 39.01 | 179.98 |
Source: Reuters.com, SEC Filings.
Analyst Consensus
No chart available.
Source: www.ft.com
No consensus analysis data available.
Source: http://www.reuters.com/finance/stocks/financialHighlights?symbol=COIN.W
Investment Highlights
COIN recently announced that the Company shipped a re-order for its organic Lawn & Turf fertilizer to The Home Depot the world’s largest home improvement specialty retailer, in preparation for the upcoming 2010 growing season. The Home Depot placed its initial order for COIN all-natural Lawn & Turf fertilizer in December, 2008, through distributor New England Pottery, an affiliate of Central Garden & Pet. Last year, Converted Organics’ Lawn & Turf fertilizer was carried in 94 The Home Depot stores throughout Massachusetts, Connecticut, Rhode Island and Long Island, New York.
COIN also recently announced that renowned Puerto Rican agronomist and master gardener Douglas Candelario featured the Company’s all natural, organic fertilizer products on his gardening show, Pegate al Mediodia, on January 28, 2010. The show, which airs in Spanish on WAPA-TV in Puerto Rico, New York City and Florida, was broadcast to coincide with Matosantos Commercial Corp.’s launch of Converted Organics’ fertilizers in Walmart and Sam’s Club stores throughout Puerto Rico. The Converted Organics line that is being launched by Matosantos Commercial Corp. in Puerto Rico includes Lawn & Turf for grass applications, Flower & Garden for landscaping and home gardens, and Indoors & Container Plant for houseplants and potted plants. The products will be commercially available in Puerto Rico in packages of 20.5 and 1.5 pounds.
Source: http://www.convertedorganics.com/
Technical Analysis
Source: http://stockcharts.com
COIN is trading within its Bollinger Bands. This is a normal condition and suggests that the stock is neither overbought nor oversold relative to the recent price action.
COIN’s MACD is indicating a weak bearish signal. Although the indicator is above the critical level of 0, which implies that the underlying moving averages are bullish, the MACD has crossed below its 9-day moving average or signal line. This suggests that positive momentum has begun to slow.
Comparative Analysis
|
Company Name |
Ticker |
Price per |
Mrkt. Cap. |
P/E |
P/S |
||
|
Feb-09-2010 |
symbol |
Share, $ |
$ Mn |
2009 |
2010 |
2009 |
2010 |
| Terra Industries Inc. |
TRA |
32.45 |
3.24B |
10.07 |
n/a |
1.64 |
n/a |
| Total SA |
TOT |
55.78 |
124.49B |
n/a |
n/a |
n/a |
n/a |
| El DuPont de Nemours & Co. |
DD |
32.79 |
29.64B |
16.98 |
n/a |
n/a |
n/a |
|
Agricultural Chemicals Median |
|
|
52.45B |
13.52 |
n/a |
n/a |
n/a |
| Converted Organics Inc. |
COIN |
0.92 |
34.6M |
n/a |
n/a |
9.63 |
n/a |
Source: Thomson Financial
Insider Trading Activity
|
NET SHARES PURCHASE ACTIVITY Inside Purchases – Last 6 Months |
||
|
Shares |
Transaction |
|
| Purchases |
56,750 |
7 |
| Sales |
n/a |
0 |
| Net Shares Purchased (Sold) |
56,750 |
7 |
| Total Insider Shares Held |
1.01M |
n/a |
| % Net Shares Purchased (Sold) |
6.0% |
n/a |
|
Net Institutional Purchases — Prior Qtr to Latest Qtr |
|
|
Shares |
|
| Net Shares Purchased (Sold) |
53,066 |
| % Change in Institutional Shares Held |
17.1% |
Source: Yahoo Finance
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