Bailey bought under $4. He is probably thinking if prospects are not that good he could always sell the company. At say $6 share on the sale that would be a purchase price of less the $130 million for a company that has close to $100 million in sales and about $25 million in cash. Of course the real value is if FTEK gets a ridulous valuation and goes up to $10 or so. To me it actually looks fairly valued in this range if their revenues hold up. I don't see FTK going up to $7-10 because of pressureon domestic revenues related to the coal industry.IMHO
part that, and also all the higher volume buying Dec - Feb when it ran from $3.5 to $5+ and the technicalls seemed to be looking pretty good and thinking that earnings were going to be ok which apparently they weren't.
FTEK dropped from $5 to $4 just as easily and is nothing but a pos who posted another $4.3M contract and still went down.