Quick Win by the Algorithm: Stein Mart Inc. (NASDAQ: SMRT) Returns up to 28.95% in 7 Days

“We are encouraged by the sales trend we saw in February and early March driven by very strong regular-priced selling, particularly in our warm weather and resort markets where spring selling begins. These leading indicators give us confidence that comparable sales trends will dramatically improve in the first quarter as spring regular-price selling builds in other markets. With improved first quarter comparable sales, our gross profit expansion and continued expense control, we expect first-half operating income in excess of $8 million, most of which will occur in the first quarter.”

-Said Hunt Hawkins, CEO of Stein Mart. Inc.

[Image Source: Flickr]

Stein Mart, Inc. (NASDAQ: SMRT) operates as a retailer that provides fashion merchandise products and related services in the United States. It offers fashion apparel for women and men, as well as accessories, shoes, and home fashions. The company’s stores also provide merchandise locator services; a preferred customer program; co-branded and private label credit card programs; and electronic gift cards. As of August 2, 2017, it operated a chain of 292 retail stores in 31 states. The company also sells its products through an Internet store. Stein Mart, Inc. was founded in 1908 and is headquartered in Jacksonville, Florida.

Over the 7 days after I Know First issued its forecast on April 9, 2018, Stein Mart Inc.’s stock price jumped from $1.46 to $1.96 per share, outperforming the market by about 30%. What happened that drove the growth? The reason lies in the company’s following highlights:

  • On April 10, 2018 SMRT shares jumped 17.57% to close at $1.74.
  • Stein Mart Inc. has a market cap of $83.48 million.
  • The Company’s shares are trading 101.34% and 69.28% above their 50-day and 200-day moving averages, respectively.
  • Shares of Stein Mart, which operate as a retailer that provides fashion merchandise products and related services in the US, have an RSI of 80.90. Today.

From the above data one can see that Stein Mart Inc. increased its share value by trading with a high percentage above their moving average. In addition, the company has a big market cap which gives it the market gain for these days. This shows that that there was a performance improvement by the company from operational and investment positions.

[Image Source: Yahoo Finance]

On April 9, 2018, I Know First issued a bullish 7 day forecast Stein Mart, Inc.  (NASDAQ: SMRT). The forecast illustrated a signal of 47.31 and a predictability of 0.15. In accordance with the forecast, SMRT’s stock returned 28.95% over this period, highlighting the accuracy of the prediction produced by the I Know First algorithm.

Current I Know First subscribers received this bullish SMRT forecast on April 9, 2018

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How to read the I Know First Forecast


Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.