ADDvantage Technologies: Deep Value, Hidden Earning Power, High Synergy Acquisition - All Trading Below Net Current Asset Value [Seeking Alpha]
ADDvantage Technologies Group, Inc. (AEY)
US:NASDAQ Investor Relations:
addvantagetechnologies.com/investor-relations/4544760689
Company Research
Source: Seeking Alpha
Summary Thesis: AEY is a net-net trading at about 70% of net current assets or a worst-case liquidation value. Investors get a large margin of safety while betting that management can successfully integrate a large acquisition made in late 2016 and return to profitability. Currently, AEY is treading water after making a large $8.5mm acquisition of Triton Miami in October 2016 (still cashflow positive). We believe the company will successfully absorb Triton which will result in the stock re-rating at a significantly higher valuation. Additionally, the company owns significant real estate in Oklahoma, Nebraska, Pennsylvania, Missouri, Georgia and Texas, held at book on the balance sheet, which offers additional upside. Margin of Safety: Rule. No. 1: Never lose money. Rule No. 2: Never forget rule No.1” Warren Buffet. In today’s expensive market, it’s hard to find a stock that trades significantly below net current assets, especially one whose core business maintains p
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