Axsys Technologies (AXYS) Makes a Quick Appearance on 'Fast Money'

Axsys Technologies (AXYS) has been a boggling stock to me as a fundamental investor. Despite an excellent story [Dec 5, 2008: An Outperfomer in Defense: Axsys Technologies] [Dec 12, 2008: Time to Buy Axsys Technologies?], solid results [Feb 18: Axsys Technologies Solid Quarter] and compelling valuation the stock has been obliterated. I am not sure if this is some hedge fund's personal plaything to short, as it only trades 400,000 shares a day, but the stock has simply not moved in line with its fundamentals, or at least our perception of said fundamentals.

Technically, this was in free fall and even when it fell a long way from its 200 day moving average (reversion to mean effect) it did not put in any serious bounce. Not until the company was first rumored (and then confirmed) to put itself up for sale did the stock show any signs of life [Mar 11: Bookkeeping: Starting Axsys Technologies as Company Puts Itself Up for Trade] [Mar 12: Axsys Technologies Confirms it has Put Itself Up for Sale] We took part in part of that trade but now the stock has saddled up to its 50 day moving average and is sitting underneath it. We've booked some profits and now I guess we just wait for some news or an improvement in the chart.

I do see that Axsys has made an appearance last night on Fast Money - a quick 2 minute blurb.


Long Axsys Technologies in fund; no personal position