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PGTI (Nasdaq) - Potential Hurricane Play - 7.6 million float
PGTI: PGT, Inc. engages in the manufacture and supply of residential impact-resistant windows and doors. Its impact-resistant products, which are marketed under the WinGuard brand name, combine aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris. The company offers a range of aluminum and vinyl windows and doors in various styles, including single hung, horizontal roller, casement, and sliding glass doors; manufactures sliding panels used for enclosing screened-in porches; and provides architectural systems line of products for multi story buildings. PGT sells its products to both the residential new construction, and repair and remodeling end markets through window distributors, building supply distributors, window replacement dealers, and enclosure contractors. It has operations in the southeastern United States, the Gulf Coast, and the Caribbean. The company was founded in 1980 and is headquartered in North Venice, Florida.
The company was profitable in the last quarter and the float is only 7.6 million shares, with 727,000 of them (almost 10%) have been sold short.
The chart is looking very good, as the stock is above the 10-day, 30-day, 50-day and the 200-day moving avgs:
PGTI stock is owned 68% by insiders and 30% by institutions, which tells you that there are very few shares out there. If buyers continue to come in, one could have a major squeeze (as it happened in late July of this year from $4 to almost $6).
Notice that the Point & Figure chart at the bottom is Showing “Bullish Price Objective” and a $11.25 target.
The company was profitable in the last quarter and the float is only 7.6 million shares, with 727,000 of them (almost 10%) have been sold short.
The chart is looking very good, as the stock is above the 10-day, 30-day, 50-day and the 200-day moving avgs:
PGTI stock is owned 68% by insiders and 30% by institutions, which tells you that there are very few shares out there. If buyers continue to come in, one could have a major squeeze (as it happened in late July of this year from $4 to almost $6).
Notice that the Point & Figure chart at the bottom is Showing “Bullish Price Objective” and a $11.25 target.