Thanks Algo, I hadn't seen that article yet. I just posted it on the Investor Village RAVN site if anyone wants to read it. Maybe that Loony project will actually take flight.
Well, so far we haven't collapsed in price, but there isn't any buying interest either. At 2:30 PM, we have 12,000 shares on the ask at 1.20 and 200 shares on the bid at 1.12. It would be a shame if Cypress/Spansion bagged them again. I am assuming Spansion is the 1P customer. If they bail out on what sounds like an order for 5 to 7 units that would be tough.
I don't think I will buy any shares until there some assurance that these orders are real. I know it will be at a higher share price, but oh well.
And, FWIW, this week's Barron's has an article titled:
Wheat and Corn Prices Could Head Higher Soon
I posted it on the RAVN board at IV
You can find them searching for Chlebina Capital on Google. Looks like a small manager out of Akron OH. Seems like an odd match for AEHR, but who knows.
From today's 8-K it looks like they are going to buy some in the $15 or so range also.
On October 30, 2014, the Board of Directors authorized Raven Industries, Inc. (the “Company”) to spend up to a total of $40 million to repurchase shares of company stock (“Common Stock”).
On March 18, 2016, the Board of Directors increased and extended such authorization of the Company to spend up to a total of $10 million dollars once the prior $40 million authorization limitation has been reached in order to repurchase Common Stock, effective as of March 21, 2016, until such additional spending limitation has been reached.
I also expect that XP to be a relatively low value unit. I found it very disappointing that they didn't get the 1Ps out the door as they guided. Seemed to me that they forced the XP out the door just to be able to say something was delivered. With the numerous delays, I didn't feel comfortable holding the large number shares I had, and have cut my position in half over the last month or so. Still have quite a few, but if they are going belly up, I wanted to at least get part of my money back. Should be interesting CC on Thursday at any rate.
Probably won't help us, but: From FBR & Co.’s chip analyst Christopher Rolland
Industry LTs are now above 9.5 weeks on average but still well below cycle highs of 11 weeks set in May 2015. Indeed, February’s LT expansion was the first expansion we have witnessed since October (up just one day MOM in October) and may indicate industry stabilization and perhaps early signs of acceleration. Notably, NXP LTs fell just one day MOM, while Freescale LTs were up four days MOM. Together, we consider this trend constructive. Additionally, Broadcom’s lead times bounced back strongly, as January’s LT contraction appears short lived. Given industry LT expansion, we see decreasing risk to 1Q16 Street estimates, which call for a –4% QOQ decrease.
Well, my theory, which I mentioned a couple weeks ago, is that oil and grain prices may have bottomed. Soybeans are really not that cheap. Except for a spike up in 2012 and 2014, beans are as high as they have ever been and farmers should be quite profitable with them. Corn, while still cheap, is up from an average of about $2.50 during 1998 to 2007 to the current price of $3.70. Probably about flat adjusted for inflation. And finally, oil even after this crash is at $42 or so which is higher than any time prior to the run up in 2004. If it could stabilize between $50 and $60, you might see some recovery in the exploration and production area. Raven earnings won't improve instantly, but some people will try to get in early hoping for a turn. Whether it happens, we will have to wait and see.
Since they did a PR on the single XP "delivery" a couple weeks ago, I guess there is nothing to prevent them from announcing 1P deliveries prior to the earnings CC. Just dreaming.....
I have owned a couple of companies that went to the pink sheets. One of them turned into a buyout that I made money on by getting lucky on picking up some cheap shares prior to the buyout, but it took 2 years from the pink sheet listing to the buyout and many other holders didn't do as well. Another pink sheet I owned for a while went belly up. Overall, I wouldn't get into one on purpose.
He still owns 10% of the company also. I can't see them hiring or needing to hire a new Chairman right now. They need to ship some systems. I think they may need to hire the correct technical people, rather than management.
No financial details.
BROOKINGS, S.D., March 15, 2016 (GLOBE NEWSWIRE) -- Daktronics Inc. (DAKT) recently acquired ADFLOW Networks, Inc. (“ADFLOW”). ADFLOW specializes in delivering digital media solutions to leading retailers, convenience stores and other businesses throughout North America.
ADFLOW will operate as a subsidiary of Daktronics from its Burlington, Ontario headquarters. ADFLOW’s workforce of experienced sales, service, and software engineering teams will continue to focus on delivering state-of-the-art digital media solutions to new and existing customers. Further terms of the agreement are confidential.
If they are going to have to do another financing, I would expect insiders to wait for that to show confidence on the secondary. They would need to buy a fair amount in order to entice other buyers to join them.
No news, but a few headlines on articles like "Daktronics-Equipped Venues Prep to Host for NCAA Men's Basketball Tournament" could bring some short term interest to the stock. I have no idea when or if someone might take an interest in trying to get more value from this company. Could happen via an activist shareholder or a competitor. Or, maybe not at all. I could be just hoping. Still, they need to do something longer term. Profits should be easily double what they are currently with the revenues they have. They earned 60 cents on half of current revenues in 05 and 06. The margins are supposed to get better when revenues increase, so they should be earning $1.00 to $1.50 on double the revenues for this year. Clearly that's not in the current forecast.