Price Action To Observe: CPI Aerostructures, Inc.’s Big Gap Up Today Points to Less Stock Risks

Price Action To Observe: CPI Aerostructures, Inc.'s Big Gap Up Today Points to Less Stock Risks

The stock of CPI Aerostructures, Inc. (NYSEMKT:CVU) gapped up by $0.09 today and has $19.89 target or 185.00% above today’s $6.98 share price. The 7 months technical chart setup indicates low risk for the $60.11 million company. The gap was reported on Oct, 4 by If the $19.89 price target is reached, the company will be worth $111.20 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 1.75% or $0.12 on October 3, hitting $6.98. About 19,107 shares traded hands or 47.45% up from the average. CPI Aerostructures, Inc. (NYSEMKT:CVU) has declined 21.97% since March 1, 2016 and is downtrending. It has underperformed by 34.19% the S&P500.

Analysts await CPI Aerostructures, Inc. (NYSEMKT:CVU) to report earnings on November, 2. They expect $0.18 earnings per share, down 35.71% or $0.10 from last year’s $0.28 per share. CVU’s profit will be $1.55M for 9.69 P/E if the $0.18 EPS becomes a reality. After $0.21 actual earnings per share reported by CPI Aerostructures, Inc. for the previous quarter, Wall Street now forecasts -14.29% negative EPS growth.

According to Zacks Investment Research, “CPI Aerostructures, Inc. is comprised of two distinct entities: CPI Aerostructures, Inc. and Kolar, Inc. CPI is engaged in contract production of structural aircraft parts and sub-assemblies for the commercial and military sectors of the aircraft industry. In connection with its commercial assembly operations, CPI provides engineering, technical and program management services to its customers. Kolar manufactures precision machine parts and sub-assemblies for the electronics industry, including computer and microwave device manufacturers.”

Insitutional Activity: The institutional sentiment decreased to 0.71 in 2016 Q2. Its down 0.54, from 1.25 in 2016Q1. The ratio worsened, as 4 funds sold all CPI Aerostructures, Inc. shares owned while 13 reduced positions. 3 funds bought stakes while 9 increased positions. They now own 6.37 million shares or 0.38% more from 6.34 million shares in 2016Q1.
Rutabaga Mngmt Ltd Liability Corp Ma accumulated 0.66% or 577,409 shares. Heartland Advsrs accumulated 0.17% or 500,000 shares. California Employees Retirement, a California-based fund reported 13,900 shares. The California-based Wells Fargo & Mn has invested 0% in CPI Aerostructures, Inc. (NYSEMKT:CVU). First Wilshire Securities Mgmt reported 30,500 shares or 0.06% of all its holdings. Awm Investment has 842,149 shares for 1.11% of their US portfolio. State Bank Of New York Mellon Corporation holds 11,677 shares or 0% of its portfolio. Moreover, Benchmark Advsr has 0.21% invested in CPI Aerostructures, Inc. (NYSEMKT:CVU) for 41,900 shares. Renaissance Technologies Lc last reported 0% of its portfolio in the stock. Blackrock Investment Management Limited Liability has 1,316 shares for 0% of their US portfolio. Ariel Investments Limited Liability accumulated 0.11% or 1.47 million shares. Northern Tru has 0% invested in the company for 19,072 shares. Us State Bank De last reported 0% of its portfolio in the stock. Bard Assoc last reported 0.36% of its portfolio in the stock. The Texas-based Dimensional Fund Advisors Ltd Partnership has invested 0% in CPI Aerostructures, Inc. (NYSEMKT:CVU).

More notable recent CPI Aerostructures, Inc. (NYSEMKT:CVU) news were published by: which released: “CPI Aerostructures auditor cites weak financial controls” on March 28, 2016, also with their article: “CPI Aero posts loss with Warthog work uncertain” published on May 10, 2016, published: “CPI Aerostructures 2Q results up as military business grows” on August 04, 2016. More interesting news about CPI Aerostructures, Inc. (NYSEMKT:CVU) were released by: and their article: “CPI Aerostructures Inc.: CPI Aerostructures Expands Work on Raytheon Next …” published on September 27, 2016 as well as‘s news article titled: “CPI Aerostructures earnings, revenue rebound” with publication date: August 05, 2015.

CVU Company Profile

CPI Aerostructures, Inc. (CPI Aero), incorporated on January 11, 1980, is a supplier of aircraft parts for fixed wing aircraft and helicopters in both the commercial and defense markets in the United States. The Firm is a maker of structural aircraft parts and aerosystems. It is also a contractor to the United States Department of Defense, primarily the Air Force. In addition to its assembly operations, it provides engineering; program management, supply chain management, and maintenance repair and overhaul (MRO) services. CPI Aero supplies the E-2D Advanced Hawkeye surveillance aircraft, the A-10 Thunderbolt attack jet, the Gulfstream G650, the UH-60 BLACK HAWK helicopter, the S-92 helicopter, the MH-60S mine countermeasure helicopter, the AH-1Z ZULU attack helicopter, the HondaJet-Advanced Light Jet, the MH-53 and CH-53 variant helicopters, the C-5A Galaxy cargo jet, the F-16 fighter aircraft, the Embraer Phenom 300 light business jet and the New Cessna Citation X+.

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