March 19, 2008
AgFeed reports bullish shares
AgFeed pleased investors last week when it reported 2007 Earnings Per Share (EPS) of 25 cents and revenues of US$36.16 million.
The company anticipates doubling the number of stores in its product chain by the end of the year.
The stock popped above 30-day moving average support on the news and then moved into a bullish consolidation pattern.
The feed sales growth rate was 321 percent, EPS growth rate at 257 percent and net profit margin at 18.42 percent.
Institutional investors hold about 2 percent of the outstanding shares.
Over the past weeks, the stock has traded between US$4.60 and US$16.36.
AgFeed Industries is the top premix feed company in China, operating through subsidiaries that develop and manufacture blended feed and feed additives for the Chinese domestic pork husbandry market.