Well, we still have Electro-Tek with over 400k shares looking to get out over time, so no telling when they will begin to take advantage of these high prices to sell.
The stock has gone for weeks on end with not more than 1k shares traded on any given day so when 60k+ shares trade in a single day, you can bet the price is going to sky rocket up, and thats what happened today. Just watch the volume, I seriously doubt that 60k+ volume can be sustained over any long period of time and once we start getting back to those ghost town 1k days, forget it, they will walk it back down into the gutter on a few shares traded. Truth be told, it looked like just short term short covering on the solid 10k release. Nothing new learned except that the company is here to stay but still going to take a long long time to grow profitability. Postive was the contract back log was extended but negatives were the margins were still stubborn to move any which way and operating cash was dangerously low. The cost of sales is still to high but its clear they are doing much better than they were after the fire, its just that growth rate of this company is still way too slow. I tend to think the volume will drop back down along with the price, just my opinion, could be wrong.
The 10k was released after hours. It was ok, just ho-hum, nothing in it we did not already know but some amount of weakness in the reporting talking about soft gross profits and other figures. Best positive I could see was the doubling since early 2011 of the contract back log. But earnings still about the same and they hardly have any operating cash. There were some other negatives but nothing too crazy either way, just a normal report. Perhaps the big up day was a run-up on hope for something great to come out in the 10k but then after hours it was a 'sell on the news' when it looked like nothing new was announced? Just my opinions.
I thought the 4th quarter was certainly a positive. $0.19 a share earnings for the quarter when the stock had been trading in the high $2's is pretty compelling. Company makeover continues. Improved backlog and release of new product are additional positives.