Research

At B. Riley, our research process is an interactive one where we perform extensive due diligence on companies until the analyst develops the knowledge base and understanding of the company and the industry to make a recommendation. Our analysts continuously monitor industry developments and communicate with the management, competitors, suppliers and customers of the companies we follow, regularly communicating our findings through Research Updates and daily Morning Notes.

While we do not necessarily publish research on all of the companies we review, the knowledge base and understanding of many of our monitored companies parallels that of our covered companies. We actively cover over 100 companies and monitor an additional 100. Our analysts cover small to mid-cap companies that are under-followed or misunderstood by Wall Street. We believe that the pricing of small cap equities is frequently inefficient, and therefore provides the greatest potential rewards to diligent security analysis.

Click here to view some of the awards that our research department has earned.

This Week's Research

  • 05/20/12 Update CATY (Buy; 18.00): Raising Rating to “Buy” on Valuation. Anticipating Release from MOU and Repayment of TARP by Year-End.
  • 05/18/12 Update SSI (Buy; $22.40 PT): Q1 Non-GAAP EPS beat on gross margins; guidance for ’12 effectively raised; increasing estimates
  • 05/18/12 Update VSAT (Buy; $72.00 PT): Demand outpacing Exede installs; 63% retail mix brings $48 ARPU; targeting 1MM subs
  • 05/18/12 Update PSUN (Neutral; $1.50 PT): Q1 beat expectations, but the projected margin rate for Q2 is well below what we had anticipated and that prompts lower…
  • 05/18/12 Update JACK (Buy; $32.70 PT): Strong trends continue and will be aided by corporate restructuring and a more favorable commodity outlook
  • 05/18/12 Morning Note B. Riley & Co. Morning Notes: ACCL, FCTY, IMAX, JACK, KKD, PSUN, SSI, VSAT, ZUMZ
  • 05/18/12 Update ZUMZ (Buy; $41.00 PT): Q1 EPS beat; kicks-off year with a strong start; expect sales momentum to continue in non-peak Q2; modestly raising estimates;…
  • 05/17/12 Update PSUN (Neutral; $1.50): Q1 beat expectations, but the projected margin rate for Q2 is well below what we had anticipated and that prompts lower estimates;…
  • 05/17/12 Desk Report FCTY (N/R): Deposit growth surges as credit quality continues to improve; raising 2012/2013 EPS estimates on improving NIM picture
  • 05/17/12 Morning Note B. Riley & Co. Morning Notes: Clean Energy Semiconductors - LEDs, CLNY, CSTR, DRL, EGHT, HOTT, JACK, PPC, RRGB, SKX, ZUMZ
  • 05/17/12 Update HOTT (Buy; $12.40 PT): Q1 EPS beat on above-plan comps/margins; Q2 guidance maintained; strength at both HT and Torrid; core business at HT is improving;…
  • 05/17/12 Update CLNY (Buy; $19.50): Harvest and re-planting appear to be on schedule; company launches significant new SFR property venture; trimming estimates and…
  • 05/17/12 Update EGHT (Neutral; $4.76 PT): Demand strong; street embracing results despite EPS miss and lowered estimates
  • 05/17/12 Update PPC (Buy; $10.50 PT): Raising estimates on higher chicken prices & declining feed costs; encouraging outlook from JBS S.A. suggests Street estimates…
  • 05/17/12 Update RRGB (Buy; $52.28 PT): Sputtering SSS offset by better cost management leads to upside
  • 05/17/12 Update DRL (Buy; $3.75): Large Provision Leads to Break-Even 1Q12 Results; Lowering 2012 EPS Estimates; Decreasing Target Price by $0.50 to $3.75; Reiterating…
  • 05/17/12 Update Industry Update: Clean Energy Semiconductors - LEDs; Low LED capital spending intensity should drive tool order recovery in mid-2012
  • 05/16/12 Morning Note B. Riley & Co. Morning Notes: CAMP, ELNK, HOTT, IMAX, OPXT, PCTI, Software and Business Services, SSI, VRML
  • 05/16/12 Initiation of Coverage SSI (Buy; $22.00 PT): Uniquely positioned in under-served markets; adding new units, layering in higher-profile brands and extending into new categories;…
  • 05/16/12 Update OPXT (Buy; $1.30): Q4 results and Q1 guidance below consensus estimates; Merger with OCLR expected to close in July/August; Lowering estimates and…
  • 05/16/12 Update Industry Update: Software and Business Services; Boston Meeting Notes – EDGW, LIOX, NTCT, PRGS, SAPE, SDBT, TYPE
  • 05/16/12 Update VRML (Buy; $8.00): OpEx management leads to Q1 EPS beat on lower than expected test volumes; CEO succession plan provides catalyst for potential sale…
  • 05/16/12 Update IMAX (Sell; $18.00 PT): Rising Box Office Lifts All Ships; Increasing Q2 Estimates… but Remain Concerned about Competitive and Economic Risks to…
  • 05/15/12 Initiation of Coverage TLYS (Buy; $23.00 PT): Youth-focused apparel retailer fusing West Coast inspired action sports, music, art and fashion, substantial unit growth and…
  • 05/15/12 Morning Note B. Riley & Co. Morning Notes: AGNC, EGHT, GRPN, JACK, MPAA, OPNT, OPXT, RRGB, TLYS, VRML, VSAT
  • 05/15/12 Update OPNT (Buy; $32.00 PT): Reports Q4 '12 Results In Line with Pre-Announcement; Upgrading to "Buy" Rating
  • 05/14/12 Update MPAA (Neutral; $6.40): Ugly F3Q12 Likely Marks the Worst of Fenco Integration Challenges; Turnaround Remains a Show-Me Story
  • 05/14/12 Update AGNC (Buy; $34.50 PT): Both the upside in Q1 and higher estimates reflect lower actual and projected CPRs and premium amortization expense as well…
  • 05/14/12 Update GRPN (Neutral; $12.00 PT): Strong performance as domestic rebounds and exhibits marketing leverage; reiterate “Neutral” rating and increasing…