ASTC IMO has good odds of being a multi-bagger. Here are some reasons that I like ASTC:
1. Backlog has doubled year over year from $19.9M to $38.9M. They should now start reporting some profitable quarters although they might be a bit lumpy.
2. ASTC has two divisions including the Astrotech Space Operations (ASO) and Spacetech. ASO provides satellite launch processing services. Spacetech is an incubator intended to develop space-industry technologies into commercial applications. ASO is quite profitable but Spacetech isn't. The drag on the bottom line due to the development of Spacetech has masked the underlying value of the ASO business. I think there are good odds that ASTC will spin off their Spacetech business in the near future or they will turn at least a part of it into profitability. Either way it will further improve the bottom line and unmask the value that is there.
3. Book value is now $2.04/share with cash of $0.88/share. The company is trading at a discount to both book value and cash.
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