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US Dataworks (UDW) triples in a day

Posted August 14, 2008

US Dataworks (AMEX:UDW) gains 200% in a day. Is the price still right for another 50% gain?

by J. Christoph Amberger

Baltimore — (TFN): Houston-based US Dataworks (AMEX:UDW) soared almost 200% to 27 cents after the company announced Q1 revenues of $2,069,049 — an increase of 68.3% over the same period a year ago. US Dataworks also reported an operating profit for the first quarter of $107,148 compared to an operating loss of $837,072 last year.

US Dataworks develops payment processing software for the top banking institutions, credit card issuers, major retailers and the United States Government. Its software enables organizations to process payments. Products are designed to provide organizations with either an in-house solution complementing the organizations’ existing technologies, systems and operational workflow or by using Clearingworks via the Internet on an Application Services Provider.

Turning profitable certainly is always a positive thing… but $107k certainly don’t explain the sudden upward surge. But there’s nothing like gains to attract more money. I expect the company to open higher tomorrow. Given its current price, I believe an additional gain of 50% is possible. But this is a volatile pick that calls for close monitoring of stop losses.

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Posted by J. Christoph Amberger · Filed Under US Stocks and Markets 

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