Aug 27, 2010 10:04 AM PDT
President Obama will deliver 'thee' major healthcare speech this afternoon before a joint session of Congress and healthcare stock investors are waiting, and waiting, and waiting to hear what he has to say. Some healthcare providers are however, being more proactive like the CEO of Hythium Inc., (HYTM) http://www.hythiam.com/ who is delivering his own speech this morning at the Rodman and Renshaw Annual Global Investment Conference.
Gaining over 42.86% ($0.24) this morning in early trading, HYTM is currently trading in the $0.79 range with a new market cap of $43 million. HYTM has a 3-Month average daily trading volume of 475,566 shares and traded 18 times that amount this morning topping 8,826,871 shares.
HYTM CEO Terren Peizer will be speaking at 12:30 p.m. EST today at the conference and is expected to not only talk about healthcare reform, but about the HYTM 'PROMETA' Treatment Program for alcoholism and stimulant dependence and how it relates to national reform. HYTM will archive the webcast and transcript on its site.
HYTM is widely held by institutions and I believe today's gains are also based on their support. HYTM received a warning from Nasdaq on May 14 that its stockholders' equity was below the minimum requirement for continued listing. That was extended 105 days through August 27.
On August 29, HYTM got another volley from Nasdaq about the $10 million stockholders' equity requirement. For the period ended June 30, 2009 and as reported in the Company's quarterly form 10Q filing, HYTM equity was $2,026,000.
HYTM management has requested a hearing to stay any action and allow management to explain how it's working towards completing contracts with third party vendors that will satisfy the requirement (as a side-note: stockholder equity is in primary essence; a company's total assets minus its total liabilities and is generally represented by the amount which a company is financed through common and preferred shares).
HYTM is a healthcare services management company that provides behavioral health management services for substance abuse to health plans. HYTM focuses on integrated substance dependence solutions including its core competency, the PROMETA Treatment Program for alcoholism and stimulant dependence. HYTM licenses its PROMETA Treatment Program to physicians and other licensed treatment providers.
At $0.79, HYTM is below its 52-week high of $2.30 set on 09-19-08 and above its 52-week low of $0.17 set on 03-25-09. At $79, HYTM is above both its 50-day and 200-day moving averages. HYTM has trailing twelve month revenues of $38 million. It shares out versus float ratio is close enough to parity not raise any red flags, but I would like to see more shares in the public float for stability.
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