RE:Will it wander down to the 50 cent range again?
I don't think there is any point in backing up any trucks until the Global price of oil bottoms out and turns the corner. Whether Ithaca trades at $1.00, 50 cents or 25 cents is arbitrary and largely correlated to the price of oil. There aren't too many people who think oil will be priced higher than it is now by the end of year and many who predict spikes down to $30/bbl or even lower. I'd gamble and wait for that as that price would be unsustainable in the long term.
https://money.cnn.com/2015/08/18/investing/oil-prices-15-kotok/
IAE only earned 4 cents a share in the first half and oil was priced quite a bit higher then. They are going into maitenance again this fall as I recall. With their debt, where do you think they'll trade if a Quarter has zero earnings?