trade460, Share price is not the number I like to use when considering selling short the stock of a company.
Instead, the first thing I do is pull up the most recent 10-Q/10-K, find the most recent number of shares outstanding, and multiply that by the current share price to get a market capitalization number to keep in mind as I look at the financial statements.
I think the company's value is less than $62 million.
Total assets (06/30/06) are only $16,355,778. The market thinks the company is worth nearly four times its total assets! That might be reasonable if the assets were owned free and clear, but the company is "upside-down" since shareholder's equity is $(2,530,003).
Shareholders' deficit is $(76,867,855). Not only has VNX been losing money recently, but overall, it has lost over $70 million, some of it since the recent management change.
Being short 69k VNX could be an error, but I'll take my chances, as I think the company's current market capitalization wildly overestimates its value.