Shares of MeetMe Inc (NASDAQ:MEET) have surged by nearly 13% after the company posted second quarter EPS of $0.09, beating the estimates by $0.04. Its revenue of $16.4 million surged by 48% on the year and topped analysts’ expectations by $1.13 million. The revenue growth was impacted by an 82% annual increase in mobile revenue, which also represented more than 90% of the total, while the number of mobile monthly active users went up by 32% to 4.84 million. Among the funds in our database, only eight reported stakes in the company as of the end of March, having amassed slightly over 11% of the company’s outstanding stock.
TOP SHIPS Thrives On Strong Results
TOP SHIPS Inc (NASDAQ:TOPS)’s stock has surged by nearly 160% following the company’s earnings release on Friday evening. For the first half of the year, the company posted EPS of $0.08 on revenue of $11.62 million, up by 147.2% year-over-year. For the same period last year, the firm had registered a net loss of $2.74 per share. None of the funds from our database held shares of TOP SHIPS heading into the second quarter, which is not surprising, since the company has a market cap of just $20 million (including today’s gains) and smart money investors tend to stay away from nano-cap stocks.
Keryx Slips On Production Interruption
Finally, there’s Keryx Biopharmaceuticals (NASDAQ:KERX), which has plummeted more than 31% on Monday. Before the market opened, the company reported a second-quarter net loss of $0.42 per share, on revenue of $9.29 million, which came in $720,000 above expectations. However, management also said it had halted production of its only drug, citing “manufacturing issues.” In relation to this announcement, the company also withdrew its full-year guidance, and said the supply of the renal medication in question should be restored by October. At the end of March, 11 funds among those we track held about 1/3 of Keryx Biopharmaceuticals (NASDAQ:KERX)’s float. Among them was Seth Klarman’s Baupost Group, which owned more than 25.79 million shares.
Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above