NEW YORK (TheStreet) -- Shares of American Electric Technologies Inc. (AETI) are higher by 5.66% to $6.16 on Tuesday after the company reported a 21% increase in revenue to $17.4 million for the 2014 first quarter, from $14.4 million from the year ago quarter.
However, the energy company said net income for the most recent quarter declined to $0.5 million, or 6 cents per share, from $1.7 million, or 18 cents per diluted share from the 2013 first quarter.
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TheStreet Ratings team rates AMERICAN ELECTRIC TECH INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate AMERICAN ELECTRIC TECH INC (AETI) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. 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, compelling growth in net income, reasonable valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."