New York, NY (PRWEB) December 11, 2004
Ardour Capital Investments, LLC, a New York based Investment Bank and a leading research institution in the Energy Technology/Alternative Power sector, announced today that it has upgraded Quantum Fuel Systems Technologies Worldwide, Inc. (QTWW/NASDAQ, closed at $5.42 on December 10, 2004) to a ÂBuyÂ from an ÂAccumulateÂ. The rating change comes on the heels of QTWWÂs 2Q05 earnings report released yesterday after the market close. Although the Company reported lower than expected revenues for the quarter, the second half of FY05 should prove to be positive.
According to Analyst Walter Nasdeo, ÂThe positives for the second half of FY05 include, QTWW expects to reach cash flow breakeven; the Company currently has $14 million in backlog; and QTWWÂs recent acquisition of Starcraft Corporation (STCR/NASDAQ) should boost OEM contracts from major automobile manufacturers.Â Nasdeo went on to state, Âwe also expect this acquisition will help diversify the CompanyÂs operations, and increase production efficiencies.Â Taking into consideration QTWWÂs position going forward, Nasdeo believes that QuantumÂs stock has been oversold, and is a clear buying opportunity at these price levels.
About Ardour Capital Investments
Ardour provides a wide range of financial services for both public and private growth companies. Ardour supplies investors specializing in small capitalization growth companies an independent brand of research not traditionally found within the securities industry. Ardour has made a commitment to be a leading research institution in the Energy Technology/Alternative Power sector.
Walter Nasdeo - 212-375-2958
Director of Research
Brian Greenstein - 212-375-2956
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