| AWRE (05/28/02 - 3.53) - Recommending
purchase of Aware, Inc. at current price. Aware licenses DSL technology.
First quarter revenues fell 56% year over year to 3.6 million but were
up 12% from prior quarter. AWRE is 10 cents from the September 2001
closing low of 3.43 and 36 cents from the intraday low of 3.17.
Around that time 3 insiders bought a few shares and the stock turned around
shortly after.
AWRE is not cheap when
looking at sales, however they can grow quickly with
any improvement in the
economy.
AWRE is cheap when considering
cash levels of 2.35 per share with no debt and a book value of 3.25.
Because of its balance sheet we are willing to make the bet that a
double bottom forms.
6-12 month target of 7-9
dollars. |
