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Wednesday, October 21, 2020

MJP International Ltd (OTCMKTS:MJPI) Finally Takes a Breather

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MJP International Ltd (OTCMKTS:MJPI) is a micro-cap stock that’s clearly begun to spur some major interest among players in the marketplace as shares power higher. We took a close look at this one a couple weeks ago. Since we last covered the name, the stock has moved 120% higher in fast action. However, Tuesday’s action saw the stock take a major beating on big volume and absolutely no news or filings.

Traders will note 42% piled on for shareholders of the listing during the trailing week. Market participants may want to continue to pay close attention to this stock. The name is sporting sky-rocketing interest in initial trading, with some huge volume pouring in on the rally. Traders should note this as important with a float in play that’s tight — not even 14M shares. It’s something the veterans know to key on: ramping trading activity can overwhelm available supply in a stock with this type of small float, leading to an upward burst in prices, as has been on display.

MJP International Ltd (OTCMKTS:MJPI) promulgates itself as a development stage company that engages in the sale and distribution of LED lighting and technology solutions in North American market.

Its LED lighting products consist of LED Par series bulb, a replacement bulb for traditional Par 30/38 lamps; LED Down Light series, a lighting fixture with bulb and installation housing; and LED tube series products to replace fluorescent lamps and fit into existing light fixtures.

The company sells its products to end users, including municipalities, airports, railway lines, hospitals, post-secondary institutions, and large property owners; wholesalers; contractors; and retailers. MJP International Ltd. was founded in 2010 and is based in Calgary, Canada.

According to company materials, “MJP International is a company that specializes in green energy products and services, including rapidly advancing green technologies such as solar and wind installations. The company is built on the fundamental belief that Green technology is the way to a clean, profitable and energy-rich future. MJP International continually pushes the envelope to find ways for clients to use green technologies in a cost-efficient and user friendly way, firmly believing that renewable and clean energy sources will continue to come to the forefront as viable and economical alternatives to fossil fuel.”

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As noted above, the stock has been red hot, but Tuesday’s action went the other way on a big jump in volume and no news or filings.

The only recent news on the name was the company’s December 13 announcement that it has signed an exclusive distribution agreement with a Texas-based company, O.C Construction. The distribution agreement allows for O.C Construction to have the exclusive rights to sell and distribute the company’s products in some parts of Texas. The agreement covers over a dozen different types of wind turbine and solar panels, among other components.

“We consider Texas a key market and we are very excited to be working with a distributor who shares our vision. In 2015 alone, Texas installed 212 MW of solar electric capacity, ranking it ninth nationally,” said Christopher Hudson, COO of MJP International.

“Over $372 million dollars was invested on solar installations in Texas in 2015. Installed solar capacity in Texas has grown by 65% over the last year. We believe that there is great potential in the Texas market for growth and we will strive to capture a part of this burgeoning market for renewable energy installations,” added Mr. Hudson.

Now commanding a market cap of $41.6M, MJPI has almost no cash on the books, which compares with de minimus total accumulated debt.

MJPI is making small change at present, with trailing 12-month revenues coming in at $11.55k. The big dive on Tuesday is clearly something that shakes the technical momentum story a bit. But one should expect some healthy corrective action after that stock marched from $0.45 to nearly $5/share in just three weeks. If it gets ugly from here, the story may be cracking a bit. For now, though, this is an exciting story, and we look forward to a follow-up chapter as events transpire. For continuing coverage on shares of $MJPI stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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