Ships are booked through the new Panama canal to load LNG in the gulf. Won't take long for the supply chain to show huge draws. All new tankers in the US fleet are being built to fuel on Nat gas. 6 new tankers this past year are format ready to be powered by Nat gas.
Seems like they are sucking shareholder equity. Got to pay .18 or 75 mil in Nti dividend,plus 15 cash to Nti. And absorb the debt. Nobody wins here
To double mkt cap they will need a PPS of 10. With under 6 mil shares outstanding this should happen within the next 2wks. Given the number of board members for such a small company.I would expect this to be the outcome.
Opex Friday, high open interest on $20 calls. Not much open on puts. May not hit 20 this week. Bet it doesn't hit 16 either.
Also, the beta here is relatively low? This company must have some glimmer of pride. I remember reading about this company in the early 90's. They can't blame all the short comings on the commodity prices or, low low interest rates. 50 a barrels and 2.5 for Nat gas is appreciably better than 5 or 6 months ago. Did they get stung by the state of NY moratorium on hydraulic fracturing. As an amateur forensic scientist, I beg the question what went wrong here?
Wouldn't the market maker close many of these positions before tomorrows close. I wonder what price the avg. Large positions were shorted at? They had to imitate a large portion at the 3 and 5 area quite some time ago. I would expect today's volume to finish around 9.