Aegis Capital-艺龙LONG首次覆盖报告（2021年）.docxVIP

Technology Yi Chen, Ph.D. CFA (646) 502-2463 ychen@ Raghuram Selvaraju, Ph.D. (646) 502-2464 rselvaraju@ Initiating Coverage March 13, 2014 Key MetricseLong Inc.LONG - NASDAQ $16.73 Pricing Date Mar 12 2014Rating: HoldPrice Target $19.00 52-Week Range $23.81 - $12.69The Long Road To ProfitabilityShares Outstanding (mm) 35.0 Market Capitalization ($mm) $585.6Investment Highlights:3-Mo Average Daily Volume 32,803 Institutional Ownership 7% Debt/Total Capital NM ROE (8.4) % Book Value/Share $8.90 Price/Book 1.9x Dividend Yield NM LTM EBITDA Margin NM EPS ($) FY: December Prio