BELFB one of the most undervalued stocks on Nasdaq imo. Great Q2 earnings report with huge bookings/backlog growth-
Record backlog of $314 million on June 30, 2021 represents growth of over 100% from December 31, 2020; record quarterly bookings of $212 million, more than double the order volume compared to Q2-20.
They're also sitting on $5+/share in cash and had a bullish CC where they talked about how they're continuing to increase prices. Revenues should ramp higher in the coming quarters with that monster backlog. If they can maintain margins, should post some incredibly strong EPS. Caveat here is I'm sure they're facing supply chain issues like pretty much everyone else...so not sure how much that will weigh.
CFO did some buying last month in the $13's & $14's. Not a lot of shares, but still an encouraging sign.
I like the rock solid fundamentals on BELFB. Plus I think it's an undiscovered EV play. Small % of their revenues, but this is a rapidly growing segment. Tesla (hello!) is a BELFB customer.
Broader markets could struggle for the next few weeks. Because of its deep value, BELFB would probably hold up better than most in a market correction. Think that would be a buying opportunity and I'll be looking to add. Because I see BELFB making another run to the $20's in the coming months. Assuming we don't get a market meltdown.
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