Problem is the stock price will be 1.00 or less without some stimulus. It is about at my sell price.
I am still in hold mode. Interesting to see what they will say about the stock buy back in the next quarterly. report.
Did notice that volume was about double yesterday, interest but only up .02. Not so good.
And no new business. Cash flow was wonderful and received payment of some 5 million after the end of the quarter boosting flow even higher. Backlog cut significantly leaving a smaller backlog of which 1/2 is the pipeline project in Russia region. No debt, 10 million credit facility and 2 million stock buy back. And yet a 2 cent profit. Why do I want to hold? Anyone have ideas? It is almost like management has painting this bleak picture for the buy back?
the market will crash and we will be lost in the sea of blood! Just a fear I have since the market is acting like it could roll over and the small caps took a beating today (along with many others).
At today's market price they would get about 1.2 million shares. In the open market the volume would spike big time. Not seeing that.
Interesting that they will fund out of cash? They are not worried about cash flow which should mean good earnings.
Hope they do buy shares and announce when they are done. Some companies announce a repurchase but never follow thru.
I would think they would buy when the price is depressed? If eps is 10 cents or higher, they will pay more to buy back. Could be wrong but buying before earnings in two weeks will go further in number of shares.
Buy back could take some time. Good they did this. Looks more and more like they want to go private. Share price still a nothing.