The company's tiny size ($43M) make it difficult to attract new investors, but it is still up 14% YTD and up 30% over the past year. It trades at 17X earnings. The move in the past week relates to the company's re-purchase of warrants on 2.25M shares, which effectively cancels the possibility of future share dilution from 2.25M new shares. It was a surprisingly good use of capital, costing less than $700,000. SWP also renewed and expanded its credit facility. Earnings remain volatile, though, and cash flow was negative in the past 12 months. It has no analyst coverage as well. Still, sales growth is improving, and it has made decent profits in the past. With new production, there is potential, but we would not give it a huge endorsement today.
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