By my calculations te company spent $9.28 million to repurchase 883,177 shares. Current value of those shares at an $480 closing price today is $70.65 million, representing almost 50% of the current equity market capitalization of just below $150 million.
Very interesting. Stock is up 7-8 fold, EBITDA has more than tripled and revenue is up by just about 50-60%. The stock was indeed quite cheap in those days. They also did a big buyback in 2002(I think?) at a similar valuation.
Kinda similar: Shares of ESLR were quite cheap, I did a kind of "share repurchase" of my own, and now they are less cheap.
Do you own DD on ESLR (which you can get off to a jump start by studying the web page below) to decide for yourself if you think they are still cheap.
------ Visit: www.geocities<dot>com/delbertdg2/VerticalSolar.html to learn more about Evergreen Solar Inc (ticker: ESLR), countries increasing their use of renewable energy, and changes in the environment. (lots of info so be patient while it loads) (replace "<dot>" with ".")