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Below is a list of today's twenty-five most distressed stocks (according to their Altman Z-Score or Z''-Score, respectively) with a share price of $5 or higher. For details on how this ranking list is compiled, please click here.
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AYSI.PK - Disappointing Quarter
I mentioned last week that I bought a few more shares of this company at $1.75 ( http://shortscreen.com... ). The company filed a disappointing quarter today, with a steep sequential drop in earnings, to 2.1 cents per share, from 6.4 cents per share in the previous quarter. Gross margins also declined significantly, but revenues, at least, only dipped modestly.
The stock has tanked 38% on this and is now trading at about 6x what it earned in the first three quarters of this year. Some other questions were raised by the Q including a couple of personnel changes and the time frame of the Indonesian expansion. Will try to get some elaboration on that.
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Looks like a falling knife for now. I wouldn't touch it until we get bad news from China, or if it gets near .50 again. I'm not really seeing any longs that look very attractive for that matter, so AYSI is far from alone.
The chart certainly looks bad right now. I did pick up a few more shares at $1.07 today though, based mainly on how cheap it seems if it remains profitable (trading at ~6x what it earned in first three quarters of this fiscal year).
The last filing certainly raised some questions for me though. I've got a call scheduled with the CEO and the new CFO for next week, where I plan to ask those questions, along with questions other shareholders submit. If you've got a question you'd like me to ask them, feel free to leave it here or in the comment thread here: http://steamcatapult.c...