Tuesday, October 18, 2011

Geeknet (GKNT): Thin Float/High Short-Interest-Ratio

I'd like to see some more insider buying at Geeknet (GKNT). I have to believe that CEO Langone is extremely unhappy with GKNT at $18.36 (52-week range: $14.82 - $30.50). It appears as though Langone last bought some GKNT on 13 May 02011 when he bought 10,716 shares at $26.06 - $26.8 per share.

There are only 6.33 million GKNT shares and ~38% of them are closely held. The company has ~$25 million in cash with $0 of debt. I like these numbers because right now GKNT has a 13.8 short-interest-ratio (SIR). Thin float, high SIR.

The success of Geeknet is dependent on the success of ThinkGeek. The following are a couple of recent press releases from ThinkGeek.

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