CPSH worked out on the short side. Now in the low $4's. I started covering too soon and didn't short nearly enough.
I think CPSH is actually starting to look attractive on the long side into earnings (prob in a week or two). Q1 earnings maybe a few pennies per share at best, so stock is hardly a low P/E. But it should be a great looking comp. They've got a large backlog (normally they have a minimal backlog, was at $25M according to the 10K last month). Plus another deadnsyde pump could send this one up 20%+ in a day.
From the 10K-
Backlog and Contracts
Virtually 100% of the Company's product sales are custom in that they are based on customers’ drawings and the large majority of these sales are "designed in" and are sold over multiple years. Major customers typically give the Company a non-binding forecast of demand for a one-year period and then negotiate a pricing agreement with the Company valid for that one-year period. These and other customers typically issue purchase orders to be shipped on a particular date, or to be drawn against and shipped under releases. The Company has a backlog of $25 million as of December 25, 2021. This backlog consists of orders received from customers and which are for the most part scheduled to ship in 2022. Readers should be aware that under certain circumstances customers may be able to cancel existing orders, some of which may be significant, which would reduce this backlog.
