for later reference:
Taking PPP Money, Morgan Stanley Lists Top 40
While the PPP was set up to provide aid for struggling small businesses, many public companies have disclosed receiving funds from the program. This has created a backlash from small businesses unable to tap the program and the public at large.
Morgan Stanley equity strategist Todd Castagno highlighted that public firms receiving aid ranged in size from $1.1-$404.9 million, employees size of 14-10,480, sales of $0-$660.9 million, and net income of ($193.6M)-$33.2 million.
Of the public companies that have disclosed receiving funds from the PPP, approx. 77% come from the Manufacturing, Accommodation & Food Services and Information NAICS Sectors.
Below is a list of the 40 Largest PPP Loans Disclosed by Public Companies, complied by Morgan Stanley Research:
J. Alexanders Corp. (NYSE: JAX)
Fiesta Restaurant (NASDAQ: FRGI)
Hallador Energy (NASDAQ: HNRG)
Potbelly (NASDAQ: PBPB)
Quantum Corporation (NASDAQ: QMCO)
Broadwind Energy (NASDAQ: BWEN)
ZAGG, Inc. (NASDAQ: ZAGG)
Air T, Inc. (NASDAQ: AIRT)
WAVE Life Sciences (NASDAQ: WVE)
New Age Beverages (NASDAQ: NBEV)
DMC Global (NASDAQ: BOOM)
TSR, Inc. (NASDAQ: TSRI)
Lindblad Expeditions Holdings (NASDAQ: LIND)
Legacy Housing (NASDAQ: LEGH)
Veritone One (NASDAQ: VERI)
Kura Sushi (NASDAQ: KRUS)
Protech Home Medical (PTQ:CN)
Perma-Fix (NASDAQ: PESI)
Escalade (NASDAQ: ESCA)
Misonix (NASDAQ: MSON)
Digimarc Corporation (NASDAQ: DMRC)
Stifel Financial (NYSE: SF)
Frequency Electronics (NASDAQ: FEIM)
ENGlobal (NASDAQ: ENG)
MannKind (NASDAQ: MNKD)
Aquestive Therapeutics Inc. (NASDAQ: AQST)
CPI Aerostructures (NYSE: CVU)
Flotek Industries (NYSE: FTK)
Emmis Communications (NASDAQ: EMMS)
ConforMIS Inc (NASDAQ: CFMS)
Natural Gas Services Group, Inc. (NYSE: NGS)
OptiNose (NASDAQ: OPTN)
U.S. Auto Parts Network (NASDAQ: PRTS)
Crawford United (OTC: CRAWA)
Vasomedical, Inc. (OTC: VASO)
PolarityTE (NASDAQ: PTE)
Ultralife Corp. (NASDAQ: ULBI)
Adamis Pharmaceuticals (NASDAQ: ADMP)
Ballantyne Strong (NYSE: BTN)
Biolase (NASDAQ: BIOL)
Left off Morgan Stanley's list was Ruth's Hospitality Group, Inc. (NASDAQ: RUTH), which received $20 million, and Shake Shake (NASDAQ: SHAK), which received $10 million but has since returned it.
Tue, 21 Apr 2020 13:01:00 -0400
Taking PPP Money, Morgan Stanley Lists Top 40
While the PPP was set up to provide aid for struggling small businesses, many public companies have disclosed receiving funds from the program. This has created a backlash from small businesses unable to tap the program and the public at large.
Morgan Stanley equity strategist Todd Castagno highlighted that public firms receiving aid ranged in size from $1.1-$404.9 million, employees size of 14-10,480, sales of $0-$660.9 million, and net income of ($193.6M)-$33.2 million.
Of the public companies that have disclosed receiving funds from the PPP, approx. 77% come from the Manufacturing, Accommodation & Food Services and Information NAICS Sectors.
Below is a list of the 40 Largest PPP Loans Disclosed by Public Companies, complied by Morgan Stanley Research:
J. Alexanders Corp. (NYSE: JAX)
Fiesta Restaurant (NASDAQ: FRGI)
Hallador Energy (NASDAQ: HNRG)
Potbelly (NASDAQ: PBPB)
Quantum Corporation (NASDAQ: QMCO)
Broadwind Energy (NASDAQ: BWEN)
ZAGG, Inc. (NASDAQ: ZAGG)
Air T, Inc. (NASDAQ: AIRT)
WAVE Life Sciences (NASDAQ: WVE)
New Age Beverages (NASDAQ: NBEV)
DMC Global (NASDAQ: BOOM)
TSR, Inc. (NASDAQ: TSRI)
Lindblad Expeditions Holdings (NASDAQ: LIND)
Legacy Housing (NASDAQ: LEGH)
Veritone One (NASDAQ: VERI)
Kura Sushi (NASDAQ: KRUS)
Protech Home Medical (PTQ:CN)
Perma-Fix (NASDAQ: PESI)
Escalade (NASDAQ: ESCA)
Misonix (NASDAQ: MSON)
Digimarc Corporation (NASDAQ: DMRC)
Stifel Financial (NYSE: SF)
Frequency Electronics (NASDAQ: FEIM)
ENGlobal (NASDAQ: ENG)
MannKind (NASDAQ: MNKD)
Aquestive Therapeutics Inc. (NASDAQ: AQST)
CPI Aerostructures (NYSE: CVU)
Flotek Industries (NYSE: FTK)
Emmis Communications (NASDAQ: EMMS)
ConforMIS Inc (NASDAQ: CFMS)
Natural Gas Services Group, Inc. (NYSE: NGS)
OptiNose (NASDAQ: OPTN)
U.S. Auto Parts Network (NASDAQ: PRTS)
Crawford United (OTC: CRAWA)
Vasomedical, Inc. (OTC: VASO)
PolarityTE (NASDAQ: PTE)
Ultralife Corp. (NASDAQ: ULBI)
Adamis Pharmaceuticals (NASDAQ: ADMP)
Ballantyne Strong (NYSE: BTN)
Biolase (NASDAQ: BIOL)
Left off Morgan Stanley's list was Ruth's Hospitality Group, Inc. (NASDAQ: RUTH), which received $20 million, and Shake Shake (NASDAQ: SHAK), which received $10 million but has since returned it.
Tue, 21 Apr 2020 13:01:00 -0400