Bearish Stock to Look Out For
We often mention all of the stocks we are bullish about. What about bearish stocks to beware of? We have some suggestions of stock to be careful of. Here are some we suggest. Ganaxi Small Cap Movers agrees with some of our picks, and gives good explanations why.
Gurus Bearish on Abraxis Petroleum Corp. (AXAS): AXAS is an independent energy company engaged primarily in the acquisition, exploration, and production of oil and natural gas in the U.S. and Canada. Guru funds together cut a net $13 million from their $18 million prior quarter position. Major sellers of AXAS included Third Point LLC ($11 million) and Driehaus Capital Management ($1.3 million). AXAS trades at an 8.4x trailing 12-month cash flow, almost on par with the 9.0 average for the group.
Gurus Bearish on Occidental Petroleum (OXY): OXY is engaged in the exploration and production of crude oil and gas worldwide. Guru funds together cut a net $33 million from their $1.1 billion prior quarter position. Furthermore, together they are under-concentrated in OXY as they control 1.6% of the outstanding shares, which is short of their 2.2% average weighting in the group. OXY trades at a discount 5.3x trailing 12-month cash flow, compared to the 9.0 average for the group.
Not all stocks are great! If you want to make money, its important to research and avoid the unstable stocks. These two stocks are worth being weary about. If you hold these stocks, possibly reconsider.
Quotes taken from report by Ganaxi Small Cap Movers, Read the entire article here.
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