Americas Small Cap Research Summary

AmericasSmallCapResearchSummary Company Research ArrayTechnologies,Inc.(ARRY)Fluerce Enengr (FLNC)Helth Catalyst (HCAT)JELD-WEN Hoicing, Irc, (JELD)TruRridge, Ine, (TBRG) Aspen Aarogels Inc. (ASPN)Frontier.Group Haldings, Ine.(ULCC)Hilimran Solutians Cap (HLMN)Lathem Group, Inc. (SwIM) Amernican Axle & Mig, (AXL)FiGS, Inc. (FIGS)Haresbrands Inc. (HBI)Intapp Irc. (INTA)OmimizeRx (OPRX) Energy AspenAerogelsInc.:AnothersStepForward With a convincing eamings beat and clear line of sight on continued groath, Aspentook another step forward this quarter as investors gain confidence in this uniquebusiness modfel Stock RatingfiaworoMa(A A,snpu]PostivePrice TargetUSD 27.00Price (09 Aug 2024)USD 21.85EPS FY1 (E)0.29EPS FY2 (E)0.62Market Cap (USD bn)1.6842TickerASPN Back to Top ViewfllrepcrtanBarclaysLive U.S, Energy Services & TechnologyJ, Davic Ancerscn, CFA+1 212 526 4016idsvid:anderaonbarclays.comBCI, US Eddie Km.+1 212 526 9920eddie.kim@oarcays.comBCI, US Derek Pechaizer+1 212 526 6358BCI, US 12 August 2024 Healthcare HealthCatalyst:QuestionsforManagementAheadofNDR We are hosting a series of meetings with HCAT leadership next week includingCEO Dan Burlon, CFO Jason Aiger, CCO Dan LeSueur, and VP of IR Jack Knight,'snocy jo seeje Aex Aq paiueubas eplnb uogsenb e Bulploid ele pue View fullrepcrt on Barclays Live Back to Top U,S. Healthcare Technology & DistributionSlepharie Davis, CFA+1 212 526 7384sleahanie.davis@barclays.comBCI, US 9 August 2024 Healthcare OptimizeRx:22Q24Recap:2QRevMissonTimingDelay;FY24GuidanceIntact OPRX shares were down 9% (SPX flat) on a 2Q revenue miss attributabie to aDAAP deal timing delay and reit FY24 guidance.: We think the stock move reflects astep back in the still nascent track record more than concem over underlyingeamings, vihich drives our EW rting and lowered PT of $11. Viewfull reperton Barcleys Live Back lo Tup U.S. Healthcare Techinology & DistributionStephanie Davis, CFA+1 212 526 7364stephane.daibarclys.comBCI, US B August 2024 Healthcare TruBridge,Inc.:2Q24Recap:FirstStepsontheRoadtoRedemption TBRG reported a 2Q headine beat (rev/EBITDA above Street by S$3M/$4M) on ahigh-margin EHR license sale, in-ine bookings, and reileraled FY24 guidance, Weare +ve on execution prcof points to date and the margin opp frcm TBRG's oshoreIransition, bul remain EW as mgirif viorks lo rebuild a track record.with inveslors. View fullrepcton Bamleays Lhe Back to Top 9 August 2024 Industrials AmericanAxle&Mfg.:2Qearningsreview-oneofthebestsupplier Key takes: 1, 2Q beat sight guide raise..one of the best 2Q supplier prints; 2. AXLcontinues to see very fevorable environment relativs to peers, but leverage issuesmute cply: 3: Implied 2H guide a bit weak, may embed conservatism on launches;4. Debt paydown fforts to be near-term focus, Reiterate EW, $8 PT. Viewfullreperton Barcleays Live Back lo Tup U.S. Autos & MobilityDan Levy+1 212 526 3212BCI, US 11 August 2024 sjeuisnpu FrontierGroupHoldings,Inc.:2Q24,Review Frontier providec weak Q3 pretax margin guidance of -6% to -3%; however,reduclions to lale 3Q off-peak routes could suppori posilive RASM into the fourthquarter. View fullrepcrt on Barclays Live Back to Top North America AifinesBrandon R. Ogiensk+1 212 526 8903brandon.aglenski@barclays.camBCI, US Eric Morgen, CFA+1 212 526 9642eric.morgan@barclays.comBCI, US Derid Z8zula, CFA+1 212 526 5108david.zazuls@barclays.comBCI, US z0z 15n8nv 6 HillmanSolutionsCorp:MarginsClimbtheHill(man) Strong margins and adj. EBITDA guidance raise offset a weaker top ine; despite asoffening macro, long-term outiook appears promising with business wins, M&Aand durable margins. Reiterate EW, PT to $10. View fll repcrt an Barclays Live Back lo Top U.S. Homebuilding & Building ProductsMalthew Bouley+1 212 523 9029matthew.bouley@bardays.comBCI, US 12 August 2024 Track End market volumes incrementally wesker; ccst efforts should dirive structuralsavings over time, Remain EW, PT remains at $13. Back to Top Vigw fullrepert on Barclays Live U.S. Homebuilding & Building ProductsMatthew Bouley+1 212 528 9029matthew.bouley@harclays.comBCI, US Group,Inc.:EarningsGrowthin1HDespiteaDownMarket Latham 2Q margin strength driven by success with cost initiatives and raw materialdeflation: FY EBITDA guidance raised on margins and new acquisition. Fiberglasscutperforming ~15% guided decline in new pool installs in FY°24. PT up to S6. View fullrepcrt an Barclays Live Back to Top U.s. Homebuilding & Building ProductsMatthew Bouley+1 212 526.9023matthew.bouey@berdeys.comBCI, US 12 August 2024 Power & Utilities ArrayTechnologies,Inc.:Anotheronebitesthe(guidance)dust What fo know: 1) New FY24 revenue guide cut ~30% due to backlog pushouts sndremoval of"go-gel'; 2) New bookings are solid, but existing backlog revised down;3) Gross margin % guided higher due to inclusion of fasteners ViewfullrepcrtonBarclays Live Back to Top North America Clean TechnologyChristine Cho,