Notwithstanding the positive fundmentals Healy laid out in the Baird Conference and on the call --
We're in no man's land between now and next earnings. The pps typically drifts down now, and could gap down if we see the correction all the pundits are claiming is here. I see since the report, shares are available to short (first time ever) on E-trade. Don't know that this is a good sign.
I'm staying long, although I lightened up my position recently, seeing ENOC's 3-day top in high 17's, even though market has been melting up/exuberant during this period. That exuberance continued this morning with the Iran deal, but no movement on ENOC. That's another sign I see that we're succeptible to dowdraft when the broader market dips - and when it does after all this built up anticiption, the dip could be sharp.
I anticipate ENOC's reporting more business progress in February, but it's a long, cold winter until then.
I pretty much share your sentiments here. I will say, however there are potential catalysts that could shoot this thing up short term:
1) Large, unanticipated utiltiy contracts
2) Announcements on entering new markets (Japan, Germany, China)
3) Favorable Regulatory rulings
4) Company being purchased
Long term, I find it hard to believe that there is absolutely no interest out there from larger fish on making #4 happen. Company is now profitable and more easily given a valuation and has some nice profitable growth for the next few years at least. I really think the 30s are in our future in the next few months. Next year's earnings I think can get over $1, NON-GAAP earnings well over $1. Lots of revenue growth in its future with new international and local markets and transforming the company into a market leader in EIS make this stock very compelling. High potential for stock to blow up when EIS takes off. I have no problem sitting on this long term for all the above reasons...
Agree. They aren't a big news stock but have sound fundamentals. They've certainly got some momentum potential from analyst coverage/upgrades but they aren't a stock that's likely to be in the news every week.