Even if all the numbers were not correct there seems to be an institutional exodus from this stock and that based on Wall Street's herd mentality the selling pressure should continue absent of any substantive positive news.
We would probably need Jeffries to come back with a buy rating but they have been burned so often anything short of a takeover might keep them away from an upgrade.
Not sure whether Eno is the right man for this job, and why he isn't actively seeking IB advice for a possible sale of all or part of the company but he simply may not have any clue about what to do here.
But as he still gets his check and bonus and only owns 3000 shares he really doesn't need to care much. As long as he can hold on for a little while longer till the economy gets better and he'll get another opportunity to "manage" another company..
Looking at a few of the key statistics and ignoring the name, this company almost looks like a strong buy.
Market Cap: 61M (plenty of room for growth here) Price to book: 0.98 (looking good) Total Cash 48M (over 2/3 of the market cap, not bad) Total Debt 0 (nice) Book Value $1.83 (nice, I like companies trading below book) Short % of Float 20% (nice potential for a squeeze) Days to cover MANY (over 50 the last time I checked)
Okay, if you ignore everything that says that they are losing money and that there’s no end in sight then this stock gets a Very Strong Buy rating. Unfortunately, the market is looking at everything and apparently feels that the current risk is just a bit too high for most investors ;..(
Eno does a lot of talk about testing, potential partnerships, potential customers and more. It will certainly be nice when/if one of many finally pays off but right now we are stuck in the valley and looking to the sky for a helicopter to lift us out.
Ah, hmmm, just blowing off steam today. I once bought a bunch of gold stocks for under $2 and sold them as they went 2x, 3x, 4x, 5x and even 10x my original purchase price. This one fells like it has that type of potential but only if the potential customers start to line up with cash in their hands or if the potential partners start signing true partnership agreements. The idea of a LOI that may or may not pan-out is just a bit unnerving.
i agree this stock is in trouble but who has interest that brought stock back from 1.67 yesterday at close. I would think shorts would stay out of the way if institutions are bailing. SOmeone is trying to add at 1.72 (50k yesterday). Hopefully they will have made great buys.