China Fire & Security Group option volume and volatility increases
China Fire & Security Group is recently down $1.49 to $12.59. Roth Capital said CHNG's LNG plant construction will likely be delayed. CHNG call option volume of 1,427 contracts compares to put volume of 522 contracts. CHNG December option implied volatility is at 102, above its 7-week average of 86 according to Track Data, suggesting larger price movement. :theflyonthewall.com
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China Fire & Security Group target raised to $23 from $18 at Roth Capital
Roth Capital raised its target on China Fire & Security after the company won a $92M retrofitting contract, the largest in its history. Roth expects the company to win a few more retrofitting contracts that are not included in the firm's estimates and it maintains a Buy rating on the stock. :theflyonthewall.com
China Fire & Security Group announced that the company has signed a total solution contract worth approximately $92M with Wuhan Iron and Steel for the Fire Protection Retrofitting Project. According to the contract, China Fire will complete the overall retrofitting project of the fire protection facilities for WISCO's 32 plants located in Qingshan, Hubei Province, by the end of 2011. :theflyonthewall.com
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