ORLANDO, Fla., Aug. 22, 2006 (PRIMEZONE) -- RedChip Visibility, an affiliate of RedChip Companies, announced today that they have updated research on Wave Systems Corporation (Nasdaq:WAVXD).
Lisa Springer, MBA, CFA, RedChip Research Analyst, wrote in the report:
"We think June quarter results indicate that Wave's strategy of distributing its software as a bundled product on computer chips and PCs is yielding positive results. Because of the above-mentioned concerns, however, we continue to rate Wave shares a 'Highly Speculative Buy' for investors with a high risk tolerance. Our $5.40 price target is based on a 6X Price/Sales multiple of estimated FY 2007 revenues."
To receive a complimentary copy of the RedChip Research Report for WAVXD, please visit: http://www.redchip.com/visibility/about.asp?page=requestWAVXQ2.
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RedChip Visibility Research Disclosure
Any opinions expressed herein are subject to change. RedChip Companies Inc. is an affiliate of the Aurelius Consulting Group, Inc. Wave Systems Corp. is a client of the Aurelius Consulting Group, Inc. and of RedChip Visibility, a division of RedChip Companies. WAVXD paid RedChip Visibility $36,000 for this report. RedChip Visibility, a division of RedChip Companies, Inc., and the Aurelius Consulting Group Inc., in a joint marketing agreement have been contracted by Wave Systems, Corp. to increase investor awareness of WAVXD to the small-cap equity community. RedChip Visibility and the Aurelius Consulting Group Inc. receive $24,000 for two months of investor relations services.