September has always had that “back to school” feeling in the capital markets as, for better or worse, share volume begins to return after fund managers, bankers and individual investors alike return from the lake, looking to pay for those summer vacations and school supplies.
While it may be too early for any particular sector to emerge and rise the tide of many boats, some Canadian technology stocks are looking to impress the new teacher with a quick start, and are already trading at or near 52 week highs. The list below is a mixed bag including patent plays, satellite, biotech and cleantech.
1. C-COM Satellite (TSXV:CMI)
52 Week High: $.49
September 7th Close: $.49
After years of being ignored despite consistently profitable quarters, Ottawa’s C-Com Satellite finally figured out what it had to do to break out of the realm of the chronically ignored; increase revenue dramatically. C-Com’s Q2 revenue of $6,418,874 was a whopping 182% better than the $2.28 it posted for the same period in 2010. C-Com is seeing increased success selling its iNetVu mobile satellite systems to Japan, particularly to the tsunami affected regions in the north.
2. BioSyent (TSXV:RX)
52 Week High: $.30
September 7th Close: $.295
Sales for Mississauga’s BioSyent, which makes a range of products including food safe insecticides and FeraMAX, and anemia treatment, are small but rapidly improving. The company’s recent Q2 saw sales jump 123% to $643,177 from the same period last year. Late in July, BioSyent received Health Canada approval for a new topical anesthetic product used in urology and gastroenterology.
3. Westport Innovations (TSX:WPT)
52 Week High: $27.07
September 7th Close: $26.85
Shares of Westport were on fire today, up more than18%, after the Vancouver company announced a co-marketing agreement with Shell in which both companies will try to encourage consumers to buy more natural-gas-powered vehicles. Shell and Westport said they will consolidate key value chain components such as fuel supply, customer support and comprehensive maintenance into a single, user-friendly package. Recent improvement in technologies such as shale fracking and the production of liquefied natural gas from coal bed methane have driven up the supply of natural gas and subsequently sent the price plummeting. US Congress has prepared legislation, with bipartisan support, that would provide incentives to large fleet operators to switch to natural gas vehicles. There are currently more than 12 million natural gas vehicles in the world, but barely 120,000 in the United States. Cantech Letter’s Nick Waddell recently spoke to Westport CEO David Demers about about the cleantech revival that is underway in Vancouver.
4. EcoSynthetix (TSX:ECO)
52 Week High: $9.45
September 7th Close: $9.15
New kid on the block EcoSynthetix took a dip after its recent IPO, but has bounced back swiftly and admirably. In early August, the Burlington, Ontario based company raised just over $100 million by selling 11.15 million shares at $9. The size and valuation of the IPO of Ecosynthetix, which develops and markets sugar based macromers and polymers, is important enough to be a real shot in the arm to the entire Canadian IPO scene, says Wellington Financial’s Mark McQueen.
5. Mosaid (TSX:MSD)
52 Week High: $42.05
September 7th Close: $40.83
Mosaid has been a steadily improving patent success story for years, but the recent hostile actions of WiLAN, led by former Mosaid employee Jim Skippen have turned the company into a rock star, at least by the humble standards of Canadian technology stocks. Today, after market, the Mosaid board of directors recommended ” that shareholders reject the unsolicited offer by Wi-LAN to acquire MOSAID for $38 in cash per share and that shareholders not tender their shares to the Wi-LAN offer.” the press release went on to call WiLAN’s offer “highly opportunistic”