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    Stock Alert for Altair Nanotechnologies Inc. (ALTI)

    Altair Nanotechnologies Inc. (ALTI) is a provider of energy storage systems for clean, efficient power and energy management. Its nano lithium-ion titanate-based solutions are among the highest performing and most scalable, with applications that include complete energy storage systems for frequency regulation and renewables integration for the electric grid, and battery modules and cells for transportation and industrial applications. ALT’s main focus is marketing its large-scale energy storage solutions to power companies and electric grid operators throughout the world. In addition, the Company markets its batteries to electric and hybrid-electric bus manufacturers, and began expanding in 2010 into new industrial markets.

    Share Statistics (26-July-11) FY2009 FY2010 % Chg Q12010 Q12011 % Chg
    Symbol ALTI Revenue, $Mn 4.37 7.83 79.2% 1.19 2.55 114.3%
    Current price $1.50 Gross marg. 30.2% 25.9% -14.2% 25.2% -9.0% -135.7%
    52wk Range: $0.72-$3.32 Oper. margin -261.2% -231.4%
    Avg Vol (3m): 287,542 Net margin -487.6% -284.7% -41.6% -510.1% -231.8% -54.6%
    Market Cap. 45.92M
    Shares Outstanding 30.62M EPS, $ -0.77 -0.82 6.5% -0.23 -0.22 -4.3%

    Source: Reuters.com, SEC Filings.

    Recent News

    ALTI shares traded as much as 32% on Tuesday as volume swelled to more than twice the 10-day average. The stock has been moving within a range of $0.72 – $3.32 over the past 52-weeks. ALTI is currently trading above its 50-day moving average of $1.00 and below its 200-day moving average $1.83. Market capitalization currently stands at 45.95  million and it has 30.62 million outstanding shares.

    ALTI ended in the green last week after the Company announced the closing of a share subscription agreement with Canon Investment Holdings Ltd. (Canon), which is the holding company of high-capacity and high-power lithium battery products manufacturer Yintong Energy Co. Ltd. The terms of the agreement call for ALTI to issue about 37.04 million common shares to Canon affiliate Energy Storage Technology Group Ltd. at $1.5528 per share, providing $57.5 million in proceeds to ALTI. ALTI’s common shares outstanding totaled approximately 69.45 million following the close of the deal.

    The report stated that the $57.5 million investment would be used to fund ALTI’s growth and expansion into the Chinese market.

    Canon chairman Wei Yincang said the investment in ALTI represents an important milestone for both companies to significantly grow their businesses and accelerate the commercialization of the Altair lithium-titanate technology.

    Financial Summary

    ALTI posted revenues of $2.6 million for the first quarter of 2011, an increase of 114% from $1.4 million in the first quarter of 2010. The Company said the results would have been even better had it not been for customer caused delays in first quarter shipments of lithium titanate to Zhuhai YinTong Energy (YTE) and of battery modules to Proterra, its largest customer in the transportation market.

    ALTI had a net loss of $5.9 million, or $0.22 per share, for the first quarter of 2011, down from a net loss of $6.1 million, or $0.24 per share, for the first quarter of  2010. The basic and diluted weighted average shares outstanding for the quarter were 26.8 million, compared to 26.3 million for the same period in 2010.

    The Company’s gross margin for the quarter dropped by $0.5 million, while operating expenses were down by 11%.  ALTI attributed the reduced margin to lower sales price to YTE in order to facilitate its entry into the China market, while the reduction in operating expenses can be attributed to reductions in R&D, Sales & Marketing and G&A expenses.

    ALTI reported cash and cash equivalent of $5.7 million at March 31, 2011, an increase of $1.0 from $4.7 million at December 31, 2010, attributable to net cash used in operations of approximately $4.5 million, more than offset by the sale of additional common stock for a net amount of $5.7 million

    Financial Strength (26-July-2011) Company Industry Sector S&P 500
    Quick Ratio (MRQ) 1.08 1.68 1.16 0.65
    Current Ratio (MRQ) 1.81 2.16 1.57 1.02
    LT Debt to Equity (MRQ) 0.07 39.34 19.65 123.18
    Total Debt to Equity (MRQ) 0.71 54.57 37.62 161.58
    Interest Coverage (TTM) 0.37 0.25 19.0

    Source: Reuters.com, SEC Filings.

    Analyst Consensus

    This is the consensus forecast among one polled investment analysts. Against the Altair Nanotechnologies Inc company.

    Analyst Detail

    Buy

    Outperform

    Hold

    Underperform

    Sell

    No Opinion

    Latest 1 0 0 0 0 0
    4 weeks ago 1 0 0 0 0 0
    2 months ago 1 0 0 0 0 0
    3 months ago 1 0 0 0 0 0
    Last year 0 0 1 0 0 0

    The one analyst offering a 12-month price target expects ALTI share price to rise to 2.75 in the next year from the last price of 1.25.

    Source: markets.ft.com

    Consensus Estimates Analysis

    # of Estimates

    Mean

    High

    Low

    1 Year Ago

    SALES (in millions)
    Quarter Ending Sep-11 2 3.83 5.15 2.50
    Quarter Ending Dec-11 2 6.20 6.95 5.45
    Year Ending Dec-11 2 15.05 18.55 11.55
    EARNINGS (per share)
    Quarter Ending Sep-11 2 -0.14 -0.13 -0.14
    Quarter Ending Dec-11 2 -0.12 -0.10 -0.13
    Year Ending Dec-11 2 -0.55 -0.45 -0.64

    Technical Analysis

     

    Source: http://stockcharts.com

    ALTI is trading above its 20-day moving average. This is considered to be the sign of a bullish trend. There is added weight to this indication because the moving average is rising and suggests that there has been buying interest in this stock.

    ALTI’s recent volatility has been greater than normal. This is evidenced by the increased distance between the upper and lower Bollinger Bands. These bands measure volatility using standard deviation and a large width is due to high volatility.

    The MACD for ALTI currently indicates a strong bullish signal for two reasons. First, the MACD is above the signal line, a 9day moving average. Second, the MACD is above 0 which implies that the underlying moving averages are trending higher.

    Comparative Analysis

    Company Name Ticker Price per Mrkt. Cap. P/E P/S
    July26-2011 symbol Share, $ $ Mn 2011 2012 2011 2012
    TOR Minerals International Inc. TORM 18.54 39.32M n/a n/a n/a n/a
    Kronos Worldwide Inc. KRO 30.14 3.49B 10.84 8.49 1.78 1.50
    Huntsman Corp. HUN 19.89 4.75B 10.75 8.88 0.43 0.40
    Specialty Chemicals Median       13.13 n/a 1.02 n/a
    Altair Nanotechnologies Inc. ALTI 1.49 45.49M n/a n/a 3.02 0.77

    Source: Thomson Financial

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