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Monday, December 04, 2006

Penny Stock Pick - EGHT

The penny stock pick of the today is 8x8 Inc. (EGHT), the Santa Clara, CA based voice over IP (VoIP) technolgy company. The first half of the year has been miserable as the stock slide more than half to as low as 65 cents per share. However since then the bar gain hunters come back and pushed the stock back to near $2 per share before the recent pullback. Let's take a look at more detail to see if this stock is worth buying.

Technical
The technical chart is showing bullish sign as 50 day moving average has crossed on top over 200 day moving average and form Golden Cross - a bullish signal recently. Although the stock has been on pull back, with MACD still above 0, we should see the stock going up again soon as ROC is showing stock is oversold.


Insider
The top management has been very bullish about the company with series of purchase in August from directors and officers. The institutions on the other hand are slighly bearish and sold about 376,350 or 4.5% of the shares.

Financial
The quarterly financial statement shows bullish sign as revenue kept improving from $8.45 million in the fourth quarter of last year to $13 million in the third quarter of this year. In addition net loss has reduced from $6.79 million to $2.73 million.


Penny Stock Score (1~5) 5 is highest
1. Market Potential(VOIP): 5
2. Technical: 4.5
3. Insider: 4
4. Financial: 5
Recommendation: Strong Buy

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