Friday, September 2, 2011
Could Ambient (AMBT) Double Again?
Could Ambient Double Again? Could Ambient Double Again? Released on Wednesday, August 31, 2011, 8:00 AM ET Pittsburgh, PA (SpeculatingStocks) - Ambient (AMBT) recently moved from the OTCBB to the NASDAQ. In July, AMBT moved from around the $7.00 level to around the $14.00 level and has since given back its gains with AMBT now around $7.00 again. AMBT reported outstanding second quarter results on August 10th with record revenue of approximately $16 million and net income of approximately $2.5 million and cash from operating activities of approximately $5.9 million. The company even reported a backlog of approximately $68 million. Ambient's technology is white hot right now. What their technology does is allow utility equipment such as home power meters to communicate with the electric power grid. Their technology is known as the Ambient Smart Grid®. The smart grid industry is growing and Ambient is a key player in it. The main thing holding back AMBT shares right now is that the company has filed plans for a public offering of up to $57.5 million in stock. Obviously investors aren't fond of the dilution and uncertainty it brings, but once the shares are absorbed, AMBT should be quite an attractive play. We don't believe that we'll see AMBT double in the short-term from here, but AMBT's fundamentals are solid and exciting as well as the industry that they are particpating in.
Posted by jdean at 8:08 AM