Merriman Capital Initiates Coverage of Infrastructure Technologies and Efficiencies Sector
SAN FRANCISCO, Oct. 6 /PRNewswire/ -- Merriman Capital, Inc. (Nasdaq: MERR) today announced that it has initiated coverage of its Infrastructure Technologies and Efficiencies sector under equity research analyst Michael Legg.
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Legg's research includes company coverage of Active Power Inc. (ACPW), Lime Energy Co. (LIME), Orion Energy Systems, Inc (OESX), PowerSecure International, Inc. (POWR) with Buy ratings, and Energy Recovery, Inc. (ERII) with a Neutral Rating.
- Active Power Inc. (ACPW $1.39; Buy Rated)
- Energy Recovery, Inc. (ERII $3.63; Neutral Rated)
- Lime Energy Co. (LIME $3.55; Buy Rated)
- Orion Energy Systems, Inc (OESX $3.18; Buy Rated)
- PowerSecure International, Inc. (POWR $9.33; Buy Rated)
Michael Legg joins Merriman with more than 20 years of experience focused primarily on small-cap emerging growth companies. Most recently, Legg was the principal and founder of CCM Ventures LLC, a private equity firm where he consulted for Global Infrastructure Partners, a $5.6 billion fund seeded by GE and CSFB. Prior to CCM, he worked on the buy-side as a partner and portfolio manager at GS (Grand Slam) Asset Management, a small cap value hedge fund. Prior to Grand Slam, Legg was a sell-side research analyst at Alex. Brown & Sons, Jefferies Group, and Prudential Securities. Legg started his career as an emerging growth analyst with Massachusetts Financial Services.
"We were one of the earliest investment banks to actively research CleanTech and related industries," said Eric Wold, Merriman's director of equity research. "As a firm, we believe this sector is poised to rebound and we are pleased to have Mike on board to re-establish first rate research on this fast moving and exciting area."
About Merriman Holdings, Inc.
Merriman Holdings, Inc. (Nasdaq: MERR) is a financial services firm focused on fast-growing companies and the institutions that invest in them. The company offers high-quality investment banking, equity research, institutional services and corporate & venture services, and specializes in three growth industry sectors: CleanTech, Consumer, Media & Internet and Technology. For more information, please go to www.merrimanco.com.
Note to Investors
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of the Company. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K/A filed on April 30, 2010. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K/A filed on April 30, 2010 and the Form 10-Q filed on August 12, 2010, together with this press release and the financial information contained herein, are available on our website, www.merrimanco.com. Please click on "Investor Relations."
IMPORTANT DISCLOSURES
This research has been prepared by Merriman Capital, Inc., a wholly owned subsidiary of Merriman Holdings, Inc. Some companies Merriman Capital, Inc. follows are emerging growth companies whose securities typically involve a higher degree of risk and more volatility than the securities of more established companies.
The securities discussed in Merriman Capital, Inc. research reports may be unsuitable for some investors depending on their specific investment objectives, financial status, risk profile, or particular needs. Investors should consider this report as only a single factor in making their investment decisions and should not rely solely on this report in evaluating whether or not to buy or sell the securities of the subject company.
Regulation Analyst Certification ("Reg. AC")
All of the views expressed in this research report accurately reflect the research analyst's personal views about any and all of the subject securities or issuers. No part of the research analyst's compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by the research analyst in the subject company of this research report. Research analysts are not directly compensated for specific revenue generated by the firm's investment banking transactions/activities.
General Disclosures
Merriman Capital, Inc. expects to receive or intends to seek compensation for investment banking services for all of the companies in its research universe in the next three months. Investors should assume that Merriman Capital, Inc. is soliciting or will solicit investment banking or other business relationships from the companies covered in this report in the next three months.
Security prices in this report may either reflect the previous day's closing price or an intraday price, depending on the time of distribution. Designated trademarks and brands are the property of their respective owners.
Merriman Capital, Inc.'s full research universe and related disclosures can be downloaded from http://www.mcfco.com and http://mcfco.com/footer/docs/Disclosures.pdf. Applicable current disclosures for this report can be obtained by contacting [email protected] or via postal mail at Editorial Department, Merriman Capital, Inc., 600 California St., 9th Floor, San Francisco, CA 94108.
Key to Investment Rankings (expected total share price return inclusive of dividend reinvestment, if applicable):
Rating |
Percent of Universe |
No. of Stocks |
Description |
Percent of companies under research coverage from which Merriman Capital. received compensation for investment banking services provided in the previous 12 months or expects to receive or intends to seek in the next three months |
|
Buy |
62% |
58 |
Merriman Capital, Inc. expects the stock price to appreciate 10% or more over the next 12 months. Initiate or increase position. |
6% |
|
Neutral |
36% |
34 |
Merriman Capital, Inc. believes the stock price is fairly valued at current levels. Maintain position or take no action. |
2% |
|
Sell |
2% |
2 |
Merriman Capital, Inc. expects the stock price to depreciate over the next 12 months. Sell or decrease position. |
0% |
|
Merriman Capital, Inc. archives and reviews outgoing and incoming email. Such may be produced at the request of regulators. Sender accepts no liability for any errors or omissions arising as a result of transmission. Use by other than intended recipients is prohibited.
The information contained herein is based on information obtained from sources believed to be reliable but is neither all-inclusive nor guaranteed by Merriman Capital, Inc. No independent verification has been made as to the accuracy or completeness of the information. Opinions, if any, reflect our judgment at the time the report is first published and are subject to change without notice. Merriman Capital, Inc. does not undertake to advise you of changes in its opinion or information.
Member FINRA/SIPC. Copyright © 2010. All rights reserved. Additional information supporting the statements in this report is available upon request.
SOURCE Merriman Holdings, Inc.
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