Hi-shear stock comes back to earth after boost from CNBC.Hi-Shear Technology Corp. is getting a feel for what's come to be known as the "Cramer effect." The Torrance-based maker of products for space satellites and defense has seen its shares zoom in the past four months to nearly $19 a share--due largely to the growth of national defense and satellite spending--but also thanks to positive comments made in April by CNBC CNBC Center for the Neural Basis of Cognition (artificial intelligence) CNBC Consumer News and Business Channel CNBC Congress of National Black Churches, Inc. stock talker Jim Cramer This article is about the television personality and host of Mad Money. For the champion Scrabble player, see Jim Kramer. James J. "Jim" Cramer (b. , star of the "Mad Money" program. Now, in the past two weeks, the company's stock has tumbled back" to earth, falling to just under $10 a share. The company has no analyst coverage, and traders said the most likely cause of the drop was profit-taking. The company has been a high-flyer in the past year garnering more than 65 separate space and defense projects. Hi-Shear gets the majority of its revenues from sales to Lockheed Martin For the former company, see . Lockheed Martin (NYSE: LMT) is a leading multinational aerospace manufacturer and advanced technology company formed in 1995 by the merger of Lockheed Corporation with Martin Marietta. , Boeing Corp. and direct U.S. government contracts, including those with NASA NASA: see National Aeronautics and Space Administration. NASA in full National Aeronautics and Space Administration Independent U.S. . In its fiscal year ended May 31, Hi-Shear reported net income of $2.3 million (34 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. ) up 967 percent from $215,000 (1 cent) in the year-earlier period. Sales rose 31 percent to $21 million. But since Hi-Shear is a small-cap stock with just 100 employees that's listed on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. and is 75 percent controlled by insiders, any buying and selling can cause wild swings in its stock price. The company also has deep roots in the military. Co-Chairman Thomas Mooney, 68, is a retired Army lieutenant colonel who graduated from West Point. And one of the company's two outside directors, David Einsel, 76, is a retired major general who served as a national intelligence expert at large to the director of the Central Intelligence Agency Director of the Central Intelligence Agency (D/CIA) serves as the head of the Central Intelligence Agency, which is part of the United States Intelligence Community. He reports to the Director of National Intelligence (DNI). , according to the company's recent proxy. In April, Hi-Shear's four-member board approved a cash dividend of $1.5 million, or 22 cents a share. Mooney and George Trahan, the other co-chairman, own a combined 73.5 million shares, allowing them to pocket more than $1 million. Calls to the company were not returned. |
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