This one might be the next to go on a bit of a spec run.
Seems David Stewart has had an impact. They’ll outsource more R&D to mean the new product cycle is less capital intensive. They have some locked in orders that should support their guidance of ‘sustained profitability’ and then any new product upside.
I think their next product will be more mainstream targeting a larger addressable market. If so it might go on a run similar to MWR when they did the same thing. Similar story where they both had a long history of never quite getting there, but things sort of came together and the market latched on to it with new product release - name change is good for this.
At $8m market cap seems a decent asymmetric bet.
BCC Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
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