New IPO Movers of the Week (Aug. 14-18, 2017)

It's mostly new faces on this week's new IPO* movers of the week list, though we do have one repeat winner.

Dova Pharmaceuticals Inc. (Nasdaq: DOVA) jumped 41.4% in spite of a worse-than-expected earnings report. The North Carolina-based company reported earnings per share last quarter of -$0.32, compared to an expected -$0.24. That was still a significant improvement on the previous quarter's -$0.645, which may be why investors are positive on the stock. Dova had its initial public offering in late June at $17 per share. The stock closed the week at $25.80.

Co-Diagnostics Inc. (Nasdaq: CODX) gained 27.3% to close the week at $4.90. The IPO for the Utah-based molecular diagnostics company was held on July 12 at a share price of $6. The stock fell as low as $3.85 this month, but is bouncing back. CODX's quiet period expires on Monday, Aug. 21. This often correlates with significant price swings, as investment banks begin publishing their research on the company. So this may be a stock to watch this week.

ADOMANI Inc. (Nasdaq: ADOM) appears on the list for the third straight week, following a 65.1% gain with a 24.3% gain last week. Closing the week at $12.86, ADOM is still well shy of its July high of $17.15. The Newport Beach-based company converts school buses and other transportation fleets into zero-emission electric and hybrid vehicles.

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Online retailer Netshoes Ltd. (NYSE: NETS) reported better-than-expected earnings, but the stock still fell 20.6% to lead our losers list. Earnings per share for the last quarter came in at -$0.45, compared to an expected -$0.62. Revenue was $139.45 million, which missed estimates by just over $10 million. The Brazilian company's April IPO was priced at $18. Shares climbed to over $26 in May, but have been on the decline since then. NETS closed the week at $14.66.

YogaWorks Inc. (Nasdaq: YOGA) illustrates why we don't recommend investing in brand-new IPOs. The stock fell 17.9% last week in what has been a streak of misfortune. The stock market's first public yoga studio chain had already delayed its IPO in July, finally going public a couple weeks ago at $5.50 per share. That's after the California-based company had initially hoped to price shares between $12 and $14. That's an even more significant price cut than Blue Apron Holdings Inc.'s (NYSE: APRN) notoriously disappointing initial offering in late June. YOGA closed the week at $3.98.

*Stocks are listed on a U.S. exchange with an initial public offering in the last year. Data and analytics provided by FactSet.

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About the Author

Stephen Mack has been writing about economics and finance since 2011. He contributed material for the best-selling books Aftershock and The Aftershock Investor. He lives in Baltimore, Maryland.

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