ORLANDO, Fla., May 6, 2008 (PRIME NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc. today announced that it has issued a 4Q 2007 research update on SpaceDev, Inc. (OTCBB:SPDV), an entrepreneurial space systems company that develops high-performance, innovative components and systems that enable space exploration.
Andre Garnet, MBA, RedChip Senior Equity Research Analyst, wrote in the report:
"SpaceDev is poised for earnings growth as the proportion of its revenues from higher-margin, fixed-fee contracts and products increases."
"We note that SpaceDev is winning new contracts at a rapid pace that include some that have the potential to generate substantial new business in the future, such as the contract, announced on March 3, 2008, for development of hybrid rocket motors for NASA's Marshall Space Flight Center," Garnet continued.
"We believe that the Company will achieve significant earnings growth this year and next and, at a recent price in the range of $0.62 to $0.80, this stock provides a good buying opportunity for value-oriented investors. We reiterate our 'Speculative Buy' recommendation for SPDV and are leaving unchanged our 12-month price target of $1.65," Garnet concluded.
To receive a complimentary copy of the RedChip Visibility Initial Research Report for SpaceDev, please visit:
http://www.redchip.com/visibility/about.asp?page=vreport&reportid=102&from=05062008pr
For more information about SPDV, including the RedChip research reports, visit http://www.redchip.com/visibility/investor.asp?symbol=SPDV.
About RedChip Companies, Inc.
RedChip Companies is an international, small-cap research and financial public relations firm with offices in Maitland, Florida; Bangalore, India; and Beijing, with affiliates in New York and San Diego. RedChip delivers concrete, measurable results for its clients through its extensive national and international network of small-cap institutional and retail investors. RedChip has developed the most comprehensive platform of products and services for small-cap companies, including: RedChip Research, Traditional Investor Relations, Digital Investor Relations, Institutional and Retail Conferences, RedChip Internet TV, and RedChip Radio. To learn more about RedChip's products and services please visit: http://www.redchip.com/visibility/productsandservices.asp.
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Disclosure
Information contained in this research report is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. None of the profiles issued by RedChip Companies, Inc., constitutes a recommendation for any investor to purchase or sell any particular security or that any security is suitable for any investor. Any investor should determine whether a particular security is suitable based on the investor's objectives, other securities holdings, financial situation needs, and tax status. SpaceDev, Inc., paid RedChip Visibility, a division of RedChip Companies, Inc., $30,000 for RedChip Visibility Program services, which included the preparation of this equity research report.