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Bolt Technology Corporation Stock Upgraded (BOLT)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Bolt Technology Corporation (Nasdaq: BOLT) has been upgraded by TheStreet Ratings from hold to buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, increase in net income, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

  • EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass.

Highlights from the ratings report include:

  • The revenue growth greatly exceeded the industry average of 11.1%. Since the same quarter one year prior, revenues rose by 49.0%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • BOLT has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. Along with this, the company maintains a quick ratio of 4.61, which clearly demonstrates the ability to cover short-term cash needs.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Energy Equipment & Services industry. The net income increased by 136.7% when compared to the same quarter one year prior, rising from $0.72 million to $1.70 million.
  • Net operating cash flow has increased to $2.46 million or 44.03% when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of 15.88%.
  • Powered by its strong earnings growth of 150.00% and other important driving factors, this stock has surged by 34.06% over the past year, outperforming the rise in the S&P 500 Index during the same period. Looking ahead, the stock's sharp rise over the last year has already helped drive it to a level which is relatively expensive compared to the rest of its industry. We feel, however, that other strengths this company displays justify these higher price levels.
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Bolt Technology Corporation engages in the development, manufacture, and sale of marine seismic data acquisition equipment and underwater remotely operated robotic vehicles worldwide. The company has a P/E ratio of 43.1, above the S&P 500 P/E ratio of 17.7. Bolt Technology has a market cap of $129.7 million and is part of the basic materials sector and energy industry. Shares are up 5.7% year to date as of the close of trading on Friday.

You can view the full Bolt Technology Ratings Report or get investment ideas from our investment research center.

-- Written by a member of TheStreet Ratings Staff

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

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