Hey there,
I'll admit that outside cursory glance, I've never seriously looked into the company. That said, as per your request i've been digging into it a little and well, I do like what I see.
First off, glad you recognize it is a riskier play - a micro cap already has inherent risks but one that is up almost 100% on a YoY basis and is trading near all-time highs, brings about additional risk. However, it looks attractively valued at only 7.7 time earnings and 6.5 times forward earnings. The company has managed to grow revenue at a fairly decent clip and is expected to post another strong 2023.
The company is posting record results quarter after quarter and has decided to increase capital spending to expand its manufacturing capacity. Margins have been improving and it is growing FCF materially in Fiscal 2022.
My only concern with this one is the big run-up and the fact that Fiscal 2024 is expected to see a return to flattish growth such as it experienced between 2015 and 2017. Now, that is still a long ways out and if demand remains strong and it successfully expands capacity, those Fiscal '24 numbers could change. Even at that, its not like the company is expensive here and it can still make some moves to the upside based on expected growth next year.
Overall, I like what I see - I wouldn't chase it, but I don't think I'd have an issue taking a speculative position in this company. As a microcap it will be subject to volatility and if growth slows, you'll likely see significant downside given the big strides it has already made.
Mat