As the world prepares for the radical advancement in wireless technology heralded by the arrival of 5G, analysts are taking notice of ADDvantage Technologies Group, Inc. (NASDAQ:AEY), an under-the-radar builder and upgrader of 5G and LTE wireless networks for the telecom industry. Through two different business segments, ADDvantage sells, distributes, refurbishes, and services infrastructure and equipment necessary for the rollout of 5G technology.
Investing.com has handed ADDvantage Technologies (NASDAQ:AEY) a “STRONG BUY” recommendation. Daily moving averages indicate 12 “buy” recommendations, while the site’s technical indicators found nine “buy” recommendations, with no indicators suggesting a “sell” rating.
Elsewhere, TradingView has offered a “BUY” rating for ADDvantage Technologies. Daily moving averages have found 18 “buy” ratings compared to just one “neutral”, while oscillators for the same period show two “buy” ratings.
Lastly, WalletInvestor.com is also feeling extremely bullish on the prospects of ADDvantage Technologies Group, Inc., and has described the stock as an outstanding long-term investment and has set a 12-month price target of $4.43, which represents an upside of 42%.
5G Potential Driving An Incredible Bull Run in AEY Stock
With markets abuzz on the seemingly endless potential of 5G technology, ADDvantage Technologies’ (NASDAQ:AEY) stock has been on an incredible bull run over the last 12 months, rising over 150% since last May alone. In its most recent earnings report, published in mid-December, ADDvantage Technologies (NASDAQ:AEY) saw full-year sales more than double to US$55.1 million. During that period, the company entered wireless communications services business with its acquisition of Fulton Technologies, which is poised for significant growth with the advent of 5G technology.
ADDvantage Technologies (NASDAQ:AEY) will release its next earnings report on Thursday, February 13, with CEO Joe Hart saying “we are focused on streamlining our processes and developing a strong backlog of work for the calendar year. Accordingly, we expect continued year-over-year improvement throughout fiscal 2020.” With analysts feeling very hopeful about the prospects of ADDvantage Technologies (NASDAQ:AEY), the Company’s February 13th earnings call at 4:30 pm EST could prove very fruitful for investors.
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