Members,
Our latest Nasdaq listed trade idea BOXL (Boxlight Corporation) delivered up to +34.43% in single-session gains today, while trading on over 30x's the previous days volume.
BOXL hit a high of $2.85 this morning, before pulling back to around the $2.20 level.
We believe BOXL has formed strong support here, and we are anticipating a potential bounce past $3.00 tomorrow.
Here's why...
In their most recent earnings report, the company announced:
Revenue increase of 27% year-over-year to $25.9 million for the first nine months of 2018
$5.7 million in deferred revenue and over $4 million in back-orders at September 30, 2018
Projecting $11 million in revenue for Q4 2018, an increase of 100% over the same period in 2017
But what we really loved was the strong guidance from BOXL's management.
This sounds like a company that is in the midst of a major turnaround.
“Momentum was strong through the important back-to-school season, helping drive a 27% year-over-year increase in revenues for the first nine months of 2018,” commented Mark Elliott, Chief Executive Officer of Boxlight. “Additionally, we ended the quarter with $5.7 million in deferred revenue of which we expect to recognize over $4 million in the fourth quarter. During the quarter, we provided Boxlight’s products to thousands of classrooms across the U.S., including new installations in McMinn County Schools in Tennessee, Huntington Beach City Schools in California and Connellsville Schools in Pennsylvania.”
“We also continue to expand our reach in key international markets including Europe and Latin America. We’ve successfully grown our sales pipeline in those markets, and are pleased to enter the fourth quarter with the largest sales pipeline in our history.”
Mr. Elliott concluded, “We are projecting the fourth quarter of this year will be the strongest in our history with over $11 million in revenue. Importantly, we see a significant opportunity to continue our growth trajectory well into the future through product introductions, growth in our re-seller network and through strategic acquisitions. It is an exciting time at Boxlight. Our mission to improve learning and engagement in classrooms, and to help educators enhance student outcomes, is taking hold as we continue to grow our reach and relevance in classrooms around the world.”
Iimmediate Bullish Catalysts for BOXL:
Management is projecting that the fourth quarter of this year will be the strongest in their history with over $11 million in revenue.
Opportunity to continue growth trajectory well into the future through product introductions, growth in their re-seller network and through strategic acquisitions.
Based on our chart analysis BOXL appears to be bottom'd out and oversold.
We see an immediate upside of up to 234%
Float is just 2.4M
Zero Insider Selling Within the Past 12-Months
BOXL's 15-day Moving Average is Crossing of its 50-day Moving Average, forming a "Golden Cross." (Major Bullish Indicator)
BOXL first caught our attention back on November 6th, when we watched shares run from $1.92 to $4.84 for single-session gains of up to +150%!
Last week, shares of BOXL ran up over +46%, from $1.98 to $2.90, and today it ran +34.43%, from $2.12 to $2.85
With its low float of just 2.4M, it's no surprise that BOXL is no stranger to large single-session run-ups.
We believe we could see an even bigger run-up tomorrow.
That being said, we are urging all members to view our full profile on BOXL, start their research, and consider grabbing up share tomorrow morning at 9:30AM EST.
(*Remember to use a Stop-Loss Order or basic Limit Order to protect your gains, as well as limit possible losses.)
Best Regards,
The TopMarketGainers Team