Categories: Hardware

CEO Brad Bourne buys more shares of Firan Technology

Firan Technology Group’s clients include Canadian aerospace giant Bombardier. Firan Technology Group (TSX:FTG) hasn’t participated in the broad-based tech rally taking place on the TSX, but the company’s boss thinks the stock is a bargain.

On Friday, Firan CEO Brad Bourne bought 50,000 shares of the company in the open market at $.35. The purchase is an average down on a buy he made August 2nd, when he picked up the same amount at $.44.

Bourne struck a practical tone after the company’s recent third quarter, in which the company lost $577,000 on revenue of $$13.3-million.

He said the period showed some positives for the aerospace and defense subcontractor, but that it faced challenges in its circuits facility, where sales were lower than expected. Firan says it hopes to address that issue and put it on the same course as its aerospace business, which is seeing double-digit growth.

Founded in 1983, Toronto-based Firan supplies aerospace and defense electronic products, specializing in quick turn around production runs. The company’s clients include Bombardier, Rockwell Collins and Bell Helicopter.

At press time, shares of Firan Technology Group were down 1.5% to $.335.

_______

Tagged with: ftg
Nick Waddell

Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.

Recent Posts

Is Greg Abel’s Berkshire Hathaway worth your investment dollars?

Baskin Wealth Management head of research Ernest Wong says Berkshire Hathaway (Berkshire Hathaway Stock Quote, Chart, News, Analysts, Financials NYSE:BRK.B)… [Read More]

17 hours ago

Is Universal Display Corporation undervalued?

Roth Capital Partners analyst Scott Searle maintained his “Buy” rating and US$158.00 target on Universal Display Corporation (Universal Display Corporation… [Read More]

17 hours ago

Verano Holdings remains undervalued, this analyst says

On Oct. 29, Haywood Securities analyst Neal Gilmer maintained his “Buy” rating and C$18.75 target on Verano Holdings (Verano Holdings… [Read More]

18 hours ago

Celestica has way more upside, Citi says

Citi analyst Atif Malik raised his target on Celestica (Celestica Stock Quote, Chart, News, Analysts, Financials NYSE:CLS) to US$436.00 from… [Read More]

18 hours ago

ALUULA Composites is an “underfollowed gem”, this analyst says

Beacon Securities analyst Russell Stanley initiated coverage of ALUULA Composites (ALUULA Composites  Stock Quote, Chart, News, Analysts, Financials TSXV:AUUA) with… [Read More]

18 hours ago

Galaxy Digital wins new $41.00 target at ATB

ATB Capital Markets analyst Martin Toner raised his target on Galaxy Digital (Galaxy Digital Stock Quote, Chart, News, Analysts, Financials… [Read More]

2 days ago