Litchfield Hills
Litchfield Hills Research LLC
Litchfield Hills Research is a Connecticut-based issuer-sponsored equity research firm covering micro- and small-cap companies, which pay it for report distribution and investor targeting rather than investors paying for access.
Company history
Theodore R. O'Neill, a sell-side analyst with more than 25 years at firms including Needham & Company, Wells Fargo, A.G. Edwards and H.C. Wainwright, founded Litchfield Hills Research in 2012 in Lakeville, Connecticut. The firm is not a registered broker-dealer; reports from 2018 to 2024 identified O'Neill as a registered representative of broker-dealer Ascendiant Capital Markets. Its analyst team includes Barry M. Sine and Joseph D. France.
- 2012Founded by Theodore R. O'Neill in Lakeville, Connecticut
Research
The firm writes company-sponsored research on micro- and small-cap issuers, many traded on Nasdaq or OTC markets, and states that its reports conform to FINRA research standards. Issuers pay for distribution and investor targeting; the firm discloses no investment-banking compensation and no analyst shareholdings in covered companies. Ratings are Buy (total return of 15% or more in 12 months), Hold (−15% to +15%) and Sell (worse than −15%).
Coverage12M
- Stocks
- 6
- Ratings
- 6
- Price targets
- 0
- Upgrades
- 0
- Downgrades
- 0
- Initiations
- 3
- Reiterations
- 3
- Positive100%6
- Neutral0%0
- Negative0%0
Sectors
Ratings
Listing
Activity24M
Most covered24M
| Stock | Rating | Target |
|---|---|---|
IQSTiQSTEL Inc. | Buy | — |
| JEJETMF | Buy | — |
KULRKULR Technology Group, Inc. | Buy | — |
NXPLNextPlat Corp | Buy | — |
QMCOQuantum Corporation | Buy | — |
STRRStar Equity Holdings, Inc. | Buy | — |
VEONVEON Ltd. | Buy | — |
Recent actions
| Stock | Rating action | Rating | Date |
|---|---|---|---|
KULR Technology Group, Inc.KULR | Reiterate | Buy | Sep 8 |
Quantum CorporationQMCO | Initiate | Buy | Aug 10 |
NextPlat CorpNXPL | Initiate | Buy | Jun 24 |
| JEJETMF | Initiate | Buy | Jun 22 |
Star Equity Holdings, Inc.STRR | Reiterate | Buy | Mar 23 |
iQSTEL Inc.IQST | Reiterate | Buy | Sep 25, 2025 |
VEON Ltd.VEON | Reiterate | Buy | Aug 22, 2025 |
iQSTEL Inc.IQST | Reiterate | Buy | Aug 19, 2025 |
iQSTEL Inc.IQST | Reiterate | Buy | Jul 28, 2025 |
| GTGreenland Technologies Holding CorporationGTEC | Reiterate | Buy | Aug 23, 2022 |
| GTGreenland Technologies Holding CorporationGTEC | Reiterate | Buy | May 18, 2022 |
Adial Pharmaceuticals, Inc.ADIL | Reiterate | Buy | Jun 29, 2021 |
References
- Litchfield Hills Researchhillsresearch.com
- Theodore R. O'Neill - LinkedInlinkedin.com
- Litchfield Hills Research report with rating system (2025)hillsresearch.com
- Litchfield Hills Research initiation with broker-dealer disclosures (2023)hillsresearch.com
- Litchfield Hills Research report on inTEST (2018)intestcorp.gcs-web.com
- Litchfield Hills Research update (February 2024)bolsasymercados.es







