Q: What did you think of their latest quarter , future growth and shares at the current price ?
5i Research Answer:
EPS of $0.15 beat estimates of $0.08 and revenues of $27.22M beat estimates of $18M. Sales grew tremendously over the past year, and its sales production for 2023 exceed guidance and increased by 98% relative to 2022. It generated adjusted funds flow of $17.1M in Q4, a substantial year-over-year increase, and management is guiding for production sales volumes to increase by 39% to 48% for 2024. These were decent results, and the stock saw an initial jump following the release, however, it is still trading in a range over the past year, and we feel further momentum from the broader energy space can help to lift momentum in this name.