AEY in the $1.30's?!? Market stinks but the selloff here seems way overdone. As the stock is back to where it was in August...BEFORE the company posted 2 quarters in a row of incredible top & bottom line improvements. Q2 earnings of .07/share vs a loss from operations of ($2,101,000) last year. And Q3 earnings of .09/share (excluding a $311K gain) vs a loss from operations of ($2,235,000) last year. Just a remarkable turnaround. That is apparently meaningless.
I thought AEY was attractive around $2 after the Q3 report last month. Now it has to go up 45% just to get back there! Next 2 quarters are seasonally slower for their wireless segment. But it sounds like there's still plenty of room to cut costs and increase profits. Plus last year, revenues barely dropped during the winter quarters. I think AEY might be able to post small profits for the next 2 quarters vs prior year losses. Balance sheet is decent with .36/share in cash (.49/share including restricted cash).
Yet the selling pressure lately has been relentless. Anyone have any ideas? Seems too early for tax loss selling. I've been buying the whole way down, and added more today. Not many profitable listed stocks trading in the $1's that have reported revenue growth of 31%, 63%, 47%, and 61% during the last 4 quarters. AEY is one where I'd like to know what the sellers are buying instead.
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