picked up 400 shares today at $28.67

Got back into PDEX at 28.50 and bought some AIRT at 22.56

I should probably preface this by saying that I know very little about AIRT, but my initial (and arguably not particularly educated) read on it is that Swenson & Co are very smart guys who are both used to being right and usually are right, but they've kind of stepped in it on AIRT and are too stubborn / proud / emotionally invested to admit defeat. Not sure this is great for PDEX, but then again they've done such a bangup job that they've kind of earned the right to do whatever they want with it.

But I guess the larger point is that when you become too emotionally invested in something, you can burn a shitload of money even when the smart thing to do is just to fold and move on to the next hand. Not sure if that's necessarily the case here, but that's kind of the sense I get from loosely following it.

If someone can explain why I'm wrong and AIRT is a good investment, I'm all ears, but if the thesis is just "Nick Swenson & Co are involved with this and it's a turnaround project", then I don't think that's necessarily good enough.

AIRT used to have 4 subs but one was a big underperformer that kept dragging down results: General Aviation Services. They sold GAS for a nice price in September 2019 and were poised to have a great 2020 until COVID destroyed the entire aviation industry. It seems like this new fund that AIRT is starting up is an opportunistic foray at the bottom of the cycle.

If you actually go back and look at the AIRT filings ex-GAS, it's a very cheap, profitable company.

Where Swenson and co. really messed up was the ISIG investment.

Pretty **** earnings, I guess covid and moving production into a new building probably had a big impact. Backlog is up a lot and apparently they will deliver another 1 million in product of that shaver in the next quarter that lead to the really high Q3 earnings

Market overreacting? They mentioned that they will deliver 15 mil of their backlog in the coming quarters.

Low volume overreaction, I'm picking up some more here. EPS is down but sales are up and backlog up and etc. They will be fine

Wish I hadn't of fully bought back in back @ 32/33. Could have had so much more now.

Too bad they cancelled their ability to buy back shares I believe.

This price action is fairly demoralizing. Stock is down 50% from its momo peak, and is dripping %s daily

I see no reason it wouldn't recover to 30 ish, should probably just stop looking

the price of illiquidity

50 cents a share, record 11.7m in revenue and over $4million of share repurchases in the quarter... back to $40 we go?

Going oversized in the mid 20s was such a good decision

Is what I'll be saying if this actually takes off on these stellar results

great numbers. let's hope 1 or 2 people besides the few dozen who own it see that

Results out, numbers are a bit disappointing. Most worrying things are the price concessions and the potential supply chain problems.

10k out today, the price concessions didn't seem too extreme, on their discounts line the annual number amounted to $415,000, compared to $27,000 for the year before. Unsure if that is what was meant by price concessions.

The ventilator is coming out this quarter and they expect 1.5 million in annual revenue from that alone.

Unsure how the movement to the new facility will impact revenue in Q1 as there is usually always a delay in production for such major moves.

Figured they would report last Thursday, it appears they are not reporting this Thursday either. Unsure what's going on.

really bizarre... i don't like it.
stock has been falling the last months as well.

Earnings out. Delayed filing was probably due to Note 3. Nothing super exciting going on this quarter. CEO's optimism in the press release is a good sign I guess.

Impressive that they bought back 146k shares this quarter. 12.8mm in backlog. G&A went up due to all the options they gave the CFO so they can make accounting revisions this quarter. Some gross margin compression due to higher costs.

I'm seeing 3616 shares repurchased in the quarter, and due to stock compensation to employees and directors shares outstanding increased 20,700 in the quarter

My bad, you are right. I was looking at weighted average on the 10-K.

i really want to nibble here at 21 ish , but without option chains it's not as tempting

You want an option chain on a stock with a 90 day average volume of less than 15,000 shares?

Earnings out, EPS low, backlog down. Two new products coming to market in the next year with an expected annual revenue of 2.5 million from them both.

Down 10% dang!