I just noticed that MY beat the sales and earnings guidance that they gave out when they reported the December quarter. If they beat again for the June quarter, this selloff is overdone. I'm buying more here.
I noticed that too. My positive spin on it: no one is following this stock. Certainly, no american analysts. With Vestas selling for a PE of 20, and MY for a PE of 7, there is only one direction for this stock to go, and that is up.
I think some institutions started buying today. I saw a buy go by for 60,000 shares, and another for 50,000. Shorts might also be getting very nervous here.
I agree with you but you also have to point to the onlytwo negatives I can find. 1. A stubborn short position that keeps undermining every advance. 2. their inability to actually fill (or produce) their large backlog of orders. This fact is the only thing keeping their profits down. Hopefully they will figure out how to fill that backlog.
Equity increased during the quarter to 3,430 mRMB (shareholders' share) or 552.8 mUSD. This corresponds to about $ 4.52 per. share by approximately 124 million. outstanding shares. The cash position increased during the quarter from 1,679 to 2,170 mRMB mRMB or 349.7 mUSD, representing approximately $ 2.82 per. share. The debt (bank debt and bond debt) decreased simultaneously from 1,713 to 1,551 mRMB mUSD so Mingyang now actually debt-free with net cash of 619 mRMB, representing approximately $ 0.81 per. share.
You are right about that. Still, people will take profits, and this has gone up from 2 to 3.75 in a month. Very weird trading today. An amazing amount of sells at 2.70 and the price won't drop. Someone is picking them all up.
I'm amazed they haven't announced this. All the press releases of the India-China deal mentions it.