Janet Whitmore, a director at Nanophase Technologies Corp (OTC:NANX), recently acquired a significant amount of the company's common stock. According to a recent SEC filing, Whitmore purchased a total of 37,333 shares on October 29, 2024. The transactions were executed at prices ranging from $0.45 to $1.18 per share, amounting to a total investment of $37,886.
Following these transactions, Whitmore's direct ownership in the company increased to 2,049,142 shares. The filing notes that the report was filed late due to an administrative error by the company, but all required payments and compliance measures were completed on the transaction date.
In other recent news, Nanophase Technologies has reported a strong Q3 performance, with an 18% profit turnaround. The company's revenues neared $17 million, and net income surpassed $3 million, indicating a substantial improvement from an 18% loss in the same quarter of the previous year. Moreover, Nanophase Technologies projects a promising year-end outlook, expecting revenues to exceed $50 million.
Further, the company's gross profit for Q3 2024 reached $13.4 million, a significant increase from the previous year, with the year-to-date revenue standing at $40 million, a 36% increase over the prior year. Nanophase Technologies also reported a robust book of business, with shipped and open orders valued at $34 million.
Management has expressed optimism about achieving 40% gross margins in the future and scaling operations to support growth beyond $100 million in revenue. They also anticipate double-digit growth in 2025, albeit potentially at a slower pace than previous years.
Additionally, discussions about a potential uplisting to enhance liquidity and trading are ongoing, and the company is planning to expand manufacturing capacity with a target of over $200 million in revenue. Finally, the next earnings announcement from Nanophase Technologies is expected in early 2025.
InvestingPro Insights
Janet Whitmore's recent acquisition of Nanophase Technologies Corp (OTC:NANX) shares comes at a time when the company is experiencing significant growth and market momentum. According to InvestingPro data, NANX has seen a remarkable 198.33% year-to-date price total return, indicating strong investor confidence in the company's prospects.
The company's financial performance supports this optimism. NANX reported a revenue growth of 27.28% over the last twelve months as of Q3 2024, with quarterly revenue growth soaring to 111.94% in Q3 2024. This robust top-line expansion is complemented by an impressive EBITDA growth of 255.19% over the same period, suggesting improved operational efficiency.
InvestingPro Tips highlight that NANX is trading at a low P/E ratio relative to its near-term earnings growth, with a PEG ratio of 0.31. This could indicate that the stock is potentially undervalued considering its growth prospects. Additionally, the company has been profitable over the last twelve months, which aligns with Whitmore's decision to increase her stake.
It's worth noting that NANX has shown strong returns across various timeframes, including a significant 34.84% return over the last week and a 101.12% return over the past year. These metrics suggest that Whitmore's investment timing may be strategic, capitalizing on the company's positive momentum.
For investors seeking more comprehensive analysis, InvestingPro offers 12 additional tips for NANX, providing a deeper understanding of the company's financial health and market position.
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