Just a thought. I have been looking at trmd Torm shipping which is around .70. Comparing balance sheets and cash flows, analyst estimates etc, PRGN looks like a bargain. PRGN looks as having a much better chance of surviving and someday thriving. While TRMD appears to be a company who's survival looks very questionable. Yet Torm is selling higher than PRGN? Any thoughts to enlighten a shadetree investor?
Um, they are not comparable at all ... PRGN and TORM are in completely different sectors.
Dry-bulk shipping stocks have had the cr*p beaten out of them because of oversupply of the ships as well as slowing of China's economy (which IMO will heat up again in 2012). The BDI (Baltic Dry Index) is to the point where dry bulk shippers can hardly make any profit ... in fact, some shipping routes lose money.
I agree with your statement that PRGN looks like it has a good chance of surviving, that's the only reason why I continue to hold my shares.