Platform Specialty Products Corporation (PAH) Draws Bearish Attention After Forming Multiple Bottom Chart Pattern

May 16, 2018 - By Ash Ash

Platform Specialty Products Corporation (NYSE:PAH) Logo

Investors sentiment increased to 1.35 in Q4 2017. Its up 0.20, from 1.15 in 2017Q3. It increased, as 26 investors sold Platform Specialty Products Corporation shares while 53 reduced holdings. 45 funds opened positions while 62 raised stakes. 246.84 million shares or 1.35% more from 243.56 million shares in 2017Q3 were reported.
Luminus Limited Liability holds 311,000 shares or 0.07% of its portfolio. Wolverine Asset Management Ltd Liability accumulated 0% or 15,390 shares. J Goldman & Co L P owns 372,687 shares. 28,967 were reported by Stone Ridge Asset Management Ltd Llc. Hancock Holding accumulated 802,255 shares. Wellington Mngmt Grp Llp has 0.01% invested in Platform Specialty Products Corporation (NYSE:PAH) for 5.69M shares. Quantbot Technology Limited Partnership has 128,034 shares. Metropolitan Life Ins Ny accumulated 11,030 shares or 0% of the stock. Nomura Inc invested in 0.08% or 4.54 million shares. State Of Wisconsin Invest Board owns 45,605 shares. Ubs Asset Management Americas Inc holds 194,304 shares or 0% of its portfolio. Tokio Marine Asset Mngmt Limited owns 167,000 shares for 0.25% of their portfolio. Ulysses Management Limited Company has invested 0.08% in Platform Specialty Products Corporation (NYSE:PAH). Carlson invested in 25,000 shares. Wexford Capital Lp has invested 0.17% in Platform Specialty Products Corporation (NYSE:PAH).

Since December 13, 2017, it had 3 insider purchases, and 0 insider sales for $4.88 million activity. 4,000 shares were bought by Casanello Diego Lopez, worth $39,640. 500,000 shares valued at $4.83 million were bought by FRANKLIN MARTIN E on Thursday, December 14.

The stock of Platform Specialty Products Corporation (PAH) shows a multiple bottoms pattern with $10.47 target or 5.00 % below today’s $11.02 share price. The 5 months chart pattern indicates high risk for the $3.18 billion company. It was reported on May, 16 by Finviz.com. If the $10.47 price target is reached, the company will be worth $158.75M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 0.64% or $0.07 during the last trading session, reaching $11.02. About 1.94 million shares traded. Platform Specialty Products Corporation (NYSE:PAH) has declined 24.04% since May 16, 2017 and is downtrending. It has underperformed by 35.59% the S&P500.

Analysts await Platform Specialty Products Corporation (NYSE:PAH) to report earnings on August, 8. They expect $0.24 EPS, up 20.00 % or $0.04 from last year’s $0.2 per share. PAH’s profit will be $69.15 million for 11.48 P/E if the $0.24 EPS becomes a reality. After $0.21 actual EPS reported by Platform Specialty Products Corporation for the previous quarter, Wall Street now forecasts 14.29 % EPS growth.

More notable recent Platform Specialty Products Corporation (NYSE:PAH) news were published by: Streetinsider.com which released: “Elliott’s 13F Shows New Stake in Commault (CVLT), Dish (DISH), Micro Focus (MFGP) (more…)” on May 15, 2018, also Streetinsider.com with their article: “Glenview Capital Enters AmerisourceBergen (ABC), Express Scripts (ESRX), T-Mobile (TMUS) (more…) -13F” published on May 15, 2018, Seekingalpha.com published: “Platform Specialty Products’ (PAH) CEO Rakesh Sachdev on Q1 2018 Results – Earnings Call Transcript” on May 06, 2018. More interesting news about Platform Specialty Products Corporation (NYSE:PAH) were released by: Globenewswire.com and their article: “Platform Specialty Products Corporation to Present at May Investor Conferences” published on May 09, 2018 as well as Streetinsider.com‘s news article titled: “Appaloosa 13F Shows New Stake in Wells Fargo (WFC) and Lam Research (LRCX), Increase in Micron (MU) MGM …” with publication date: May 15, 2018.

Platform Specialty Products Corporation produces and sells specialty chemical products in the Americas, the Asia-Pacific, and Europe. The company has market cap of $3.18 billion. It operates through two divisions, Performance Solutions and Agricultural Solutions. It currently has negative earnings. The Performance Solutions segment offers plating products that are used to plate holes; electroless nickel products, which are applied to various metal and plastic surfaces; electronic assembly materials for use in the electronic market and residential boiler systems; final finishes that are used on printed circuit boards; circuit formation products for surface preparation; oxides, which are used in the fabrication of multilayer circuit boards; semiconductor materials and packaging products; and pre-treatment and cleaning solutions.

Platform Specialty Products Corporation (NYSE:PAH) Institutional Positions Chart

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