Monthly Index May 2015

      Released Date       May May
    Research (Price dt is  6-12 Mth Apr-15 May-15 Return Russell 2000
Company Ticker Call one day before) Target Price Price Performance Performance
Aceto Corp. ACET Buy 11/22/11 $ 27.00 $ 19.38 $ 23.55 21.52% 2.53%
Acme United Corp. ACU Buy 09/29/04 $ 21.00 $ 18.46 $ 17.60 -4.66% 2.53%
American Electric Technologies AETI Buy 08/27/14 8.40 $ 5.39 $ 5.50 2.04% 2.53%
Argan, Inc AGX BUY 10/21/14 $ 41.00 $ 32.31 $ 35.78 10.74% 2.53%
Atlas Financial AFH Buy 10/24/13 $ 24.00 $ 18.45 $ 18.79 1.84% 2.53%
Aviat Networks AVNW Buy – V 04/29/14 1.50 $ 1.14 $ 1.15 0.88% 2.53%
Balchem BCPC Buy 04/01/15 $ 80.00 $ 52.42 $ 56.45 7.69% 2.53%
Black Box BBOX Buy 08/08/14 $ 29.00 $ 19.90 $ 20.04 0.70% 2.53%
Cambrex CBM Buy 05/29/15 $ 51.00 $ 40.43 $ 40.02 -1.01% -0.17%
Checkpoint Systems CKP Buy 09/22/14 $ 15.00 $ 10.36 $ 9.77 -5.69% 2.53%
Comstock Mining LODE Buy 04/22/14 2.25 $ 0.76 $ 0.71 -6.70% 2.53%
Core Molding Technologies CMT Buy 12/08/14 $ 26.00 $ 21.88 $ 26.00 18.83% 2.53%
Edgewater EDGW Buy 09/18/14 9.00 $ 7.05 $ 7.20 2.13% 2.53%
Female Health Company FHCO Buy 12/10/14 5.40 $ 2.92 $ 2.45 -16.10% 2.70%
Flexsteel FLXS Buy 01/17/14 $ 42.50 $ 36.01 $ 37.75 4.83% 2.53%
Global Ship Lease GSL Buy 08/30/13 6.30 $ 5.34 $ 5.71 6.93% 2.53%
GSI Group GSIG Buy 01/09/12 $ 16.00 $ 13.28 $ 14.92 12.35% 2.53%
IntelGenx IGXT Buy 04/15/15 1.50 $ 0.69 $ 0.59 -14.49% 2.53%
INTL FCStone INTL Buy 05/27/11 $ 36.00 $ 32.10 $ 35.07 9.25% 2.53%
JMP Group JMP Buy 12/08/14 $ 10.50 $ 7.70 $ 7.47 -2.99% 2.53%
KMG Chemicals KMG Buy 12/27/15 $ 34.00 $ 29.28 $ 29.71 1.47% 2.53%
LSB Industries LXU Buy 09/28/12 $ 51.00 $ 42.41 $ 42.53 0.28% 2.53%
Magic Software MGIC Buy 04/28/15 $ 13.50 $ 6.42 $ 6.46 0.62% 2.53%
Newtek Business Services NEWT Buy 03/27/13 $ 20.00 $ 17.04 $ 17.82 4.58% 2.53%
NN, Inc. NNBR Buy 07/20/12 $ 33.00 $ 25.16 $ 27.27 8.39% 2.53%
Nova Measuring Instruments NVMI Buy 05/09/12 $ 15.00 $ 11.03 $ 12.27 11.24% 2.53%
Reed’s REED Buy 10/23/13 9.50 $ 5.12 $ 6.13 19.84% 2.53%
REX American Resources REX Buy 12/04/14 $ 95.00 $ 63.22 $ 63.87 1.03% 2.53%
Salem Communications SALM Buy 02/24/14 $ 12.00 $ 4.88 $ 4.70 -3.69% 2.53%
Seabridge Gold SA Buy 07/21/09 $ 14.00 $ 6.34 $ 6.14 -3.15% 2.53%
Sparton Corp SPA Buy 07/16/13 $ 33.00 $ 25.77 $ 26.51 2.87% 2.53%
Supercom SPCB Buy 03/31/15 $ 13.25 $ 12.16 $ 10.81 -11.10% 2.53%
TESSCO Technologies TESS Buy 12/31/12 $ 35.00 $ 25.27 $ 18.42 -27.11% 2.53%
Trecora TREC Buy 09/01/11 $ 19.00 $ 12.00 $ 13.74 14.50% 2.53%
VASCO Data VDSI Buy 05/28/15 $ 36.00 $ 26.61 $ 26.64 0.11% -0.27%
Vertex Energy VTNR Buy 07/22/13 5.00 $ 2.16 $ 2.76 27.78% 2.53%
Viad Corp. VVI Buy 08/01/13 $ 33.00 $ 26.57 $ 26.84 1.02% 2.53%
Vulcan Materials VMC Sell 06/12/13 $ 42.00 $ 85.52 $ 89.93 -5.16% 2.53%
Total (Average) 2.41% 2.38%
January Performance -5.52% -3.21%
February Performance 2.94% 5.67%
March Performance -1.70% 1.39%
April Performance 1.89% -1.19%
May Performance 2.41% 2.38%
June Performance
July Performance
August Performance
September Performance
October Performance
November Performance
December Performance
Year to Date Performance 0.93% 4.90%
(1) Adjusted for dividends