by investar » Wed Jan 08, 2020 4:15 am
6.3$ now, still below the reference price.
from TipRanks:
LiqTech International Inc (LIQT)
The final ticker on our list has the smallest market cap of the lot. At $108 million, LiqTech qualifies rather as a ‘micro-cap’.
Headquartered in Denmark, the clean technology company specializes in products for the environmental industry including ceramic membranes for liquid filtration and diesel particulate filters to control soot from diesel engines.
LiqTech’s recent 3Q report included record quarterly revenue and net income. Revenue for 3Q19 was $9.7 million, representing a third consecutive quarter of record revenue. This figure is up from $9.3 million in the previous quarter and represents a 189% increase from 3Q18. Net income came in at $656,000, improving dramatically from a net loss of $922,000 in last year’s third quarter, and a big step up from $147,000 in 2Q.
The fourth quarter, though, has seen LiqTech experience mechanical issues in two of the company’s four new furnaces on order. Nevertheless, Lake Street analyst Robert Brown expects LiqTech to overcome the issues. The first furnace is set for installation before the end of the year and should provide the company with an additional “$15M-$16M in quarterly revenue capacity.” With the IMO (international maritime organization) sulphur limit deadline of January 1, 2020 quickly approaching, the analyst notes “LiqTech's demand trends remain strong.”
Therefore, Brown kept a Buy rating on LiqTech and a price target of $10.00, suggesting upside potential of a grand 89%. (To watch Brown’s track record, click here)
According to Brown, then, LiqTech won’t be a micro-cap for much longer, but what do his colleagues think? Only 2 other analysts have kept tabs on the Scandinavian filtration wiz, but both deem LiqTech a Buy, therefore handing it a Strong Buy consensus rating. An average price target of $9.33 implies gains of 79% could be in the cards over the next year.