Smith-Midland: Strong 2023 Financial Results And Momentum, But Still Expensive [Seeking Alpha]
![Seeking Alpha](../../../Content/images/providers/Seeking Alpha.png)
Smith-Midland Corporation (SMID)
NASDAQ:AMEX Investor Relations:
smithmidland.com/investor-relations
Company Research
Source: Seeking Alpha
I'm optimistic that Smith-Midland's revenues for 2024 could surpass $65 million as its sales backlog stood at $60.8 million at the end of 2023. However, the company looks overvalued at 47x EV/EBITDA considering it's operating in a fragmented market with low barriers to entry. Short selling seems viable as the short borrow fee rate is just 1.2% but Smith-Midland has been trading at unusually generous multiples for over a year now. Microcap Review members get exclusive access to our real-world portfolio. See all our investments here » Introduction I've been keeping tabs on Smith-Midland Corporation ( NASDAQ: SMID ), and I've written a total of three articles about the company on SA to date. The latest of them was in December 2023 when I said that the sales backlog was strong, but the company looked expensive at 62.3x EV/EBITDA. On May 23, Smith-Midland finally released its 2023 financial results , and I think they were decent as both product sales and service revenue improv
Show less
Read more
Impact Snapshot
Event Time:
SMID
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
---|---|---|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
Last Price | ||
VWAP | ||
High:
|
Max Up |
High:
|
Low:
|
Max Down |
Low:
|
%
|
Post news range |
%
|
|
Price change |
|
|
Price Change Percentage |
|
|
S&P 500 (SPX) |
|
%
|
Volume ratio |
%
|
Volume | ||
Ticks | ||
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
SMID alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
SMID alerts
High impacting Smith-Midland Corporation news events
Weekly update
A roundup of the hottest topics
SMID
News
- Smith-Midland Announces CFO Transition [Yahoo! Finance]Yahoo! Finance
- Smith-Midland Announces CFO TransitionAccesswire
- Smith-Midland Added to Russell 2000(R) IndexAccesswire
- Zacks Initiates Coverage of Smith-Midland With Neutral Recommendation [Yahoo! Finance]Yahoo! Finance
- Smith-Midland Secures $7.5 Million Noise Wall Contract for Georgia Department of Transportation Project [Yahoo! Finance]Yahoo! Finance
SMID
Sec Filings
- 7/2/24 - Form 8-K
- 7/2/24 - Form 8-K
- 6/26/24 - Form DEFA14A
- SMID's page on the SEC website