12 west capital is a hedge fund, from what I can see they haven't taken any thing private ever. Supposedly they look for undervalued micro and small cap stocks and take positions in them. They have only been around for a few years, so it's hard to say. They seem to believe in shipping though, of their 23 holdings 4 are in shipping, and DCIX is their largest shipping position. I can't believe that DSX would buy them back. For that reason I don't believe that DCIX will be bought any time soon. Maybe I'm just hoping since my basis is much higher than any one out there would pay as a premium to current price.
Volume at 11:45 is back to recent levels outside of the one 100K block trade of this morning. Day still isn't over. Besides if someone was building/adding to a position in a meaningful way, in a stock this lightly traded, it might take them weeks to finish up.
Of course I've been wrong before.
either they got a good deal on some ships or dsx and 12 west capital are going to buy the 49% of dcix they don't own.....we will find out in the fullness of time
What you say is interesting and should be watched. What I would like to think is someone knows about an acquisition of additional vessels which was implied on their conference call. Time will tell.
Sentiment: Strong Buy
At first glance I too noticed the volume spike and got a bit excited, but now I'm not feeling to comfortable, according to time and sales figures, it looks like someone had a limit order for 100K shares at 2.55. Since I didn't have my order book opened at the time I can't tell if it was initiated as a buy or sell. If it was buying interest that's great. If it was to book profits not so good, and worse yet someone maybe started a short. lot's of overhead supply still to work through. might need to keep a bit closer look at this today
they sounded bullish on the future.....the end of the west coast port strike will hurt the big teu shippers not dcix....dcix plans to buy more ships "soon"......... maybe there will be a" buy" rating from analysts currently giving them a "hold" rating
Just finished the conference call, DCIX is currently inspecting 4 vessels for procurement opportunities. They indicated that they want to take advantage of current pricing and should be buying additional vessels within the first half of 2015. Good news.
Sentiment: Strong Buy