I saw that it disappeared. They have done that to me in the past.
Yes, the gulf spill money should start flowing now that everything has been signed.
It has finally pushed below $5. There has been pressure to go down for the past several days, let's see where it ends the day. Below $5, the stock cannot be used as collateral for margin and some mutual funds cannot buy it. On top of that, some people might be eyeing it to harvest tax losses.
I still like it. They have been winning bids like crazy in there traditional business. I have no idea what is going on with the environmental and remediation part. The E&R subsidiary is supposed to be profitable this quarter. I wish they would exit that business. As another poster stated, the volume has been lousy lately and the market is not helping.
Good luck, all.
According to Scottrade, it tied the low of $5 that was made on 7-31. $5 seems to be support, but it looks like it is having a hard time bouncing from that base.
OK, here goes. I bought put my natural reluctance to buy in a falling market and falling stock price on hold and bought some before market close. There may be too much to put in one post, but I will post more if needed.
First, your points are valid in the record backlog and COB purchases; I would venture to say that he bought more today. I also have way more than is prudently advisable, but really believe that this company is ready to shine and have sold some other stock holdings to buy more of GLDD.
Second, future projects from the BP settlement have not even been put up for bid, but the work is very substantial and the one company that would be able to handle a large portion of the workload but their sheer size is GLDD.
Third, they made a statement a few months ago that the next two quarters will make up for the first part of the year not being profitable. The story is in Seeking Alpha. I will post the comment if you wish, but they exposed themselves to liability by making such a bold statement.
I have to go. I will continue this line discussion over the weekend.
Things have fallen into place for me to buy more, but I get antsy when the market falls and GLDD goes right along with it. I have been buying for the past few weeks and bought some yesterday for $5.50 and should be buying more today. Apparently the officers that went to the Imperial Capital Conference did not impress much. I will pick some up before the market closes if the price remains near this level. I will explain later, my positive outlook on the stock, but I have some work to do before market close.
Good luck, all.
Leight bought another 19,000 shares on 8/21 & 24. Now, if only more insiders would join him I would feel better. Still, it is pretty reassuring that he keeps plugging away. Good luck, all.
Sorry, I meant to give you a thumbs up, but a combination off small print on an IPad and fat fingers resulted in a mistaken thumbs down.
I agree with what you posted. One would think that management would have commented on the price drop over the past couple of weeks, just to reassure. I don't think any analyst has an accurate read on the company from what I hear on the earnings calls. I loved the comment from a money manager on the last call when he said, you seem to do a good job of getting work, but a not so good job of making money from the work you win.
They constantly disappoint, but, who knows, they may pull a rabbit out of the hat one of these days. I want to take them at there word when they said on the last call that, although they usually never comment on future earnings, they were going to do very well these for the rest of the year. They gave an impressive number, but I can't recall what it was. We shall see.
Yes, not good. I posted a message a few days ago and it disappeared after a day. I compared what has been happening with the volume increase and price decline with what happened before earnings a couple of years ago when the company dropped the bad news on their demo business. Someone new beforehand, but not me. I am hoping this is different and related to the small cap decline I have noticed the past week or so. Wish these guys would stick to the dredging business and not divert money and attention to new businesses. Good luck everybody.
I don't think the barge breakdown was responsible for how the stock acted today. The barge problem is relatively small and, short term, fixable. We are near a 52 week low and the volume was heavy. The company should be basking in the good news of the Savannah harbor win, the Shell Island award and the BP settlement. The finance chief had said in the conference call how good the numbers would be in these upcoming quarterly reports and the stock bumps along near the bottom today. This reminds me of when the company delayed reporting earnings a couple of years ago and the stock fell on heavy volume over a period of a week or so before they dropped the bomb of terrible numbers for the demolition business. I hope all is well with the environmental remediation business. I wish these guys would stick to their knitting and concentrate on the dredge business. Good luck, all.
I don't think any dredges are working off Ocean City. Here are some comments from the local newspaper:
Work crews on the beach had run pipeline down to 51st Street and set up filter cages in anticipation of the project resuming, but on Tuesday morning, they appear to be pulling equipment back and consolidating it at 52nd Street.
Work to rebuild eroded beaches between 37th and 59th streets in Ocean City began April 20 and was expected to be complete by now. But an engine failure on the Liberty Island brought the project to a standstill on May 30.
If work had resumed Monday, the project would have been on target to be complete by Sept. 9.
The delay pushes the restart of the project deeper into the heart of the summer vacation season in the resort.
The dredge was out for two months from a job off New Jersey. They returned from repairs in Norfolk and worked for a day and have to go back for more repairs.