Too cheap I couldn't resist picking up some more shares today. I was waiting patiently and then finally a big sell order came my way.
At $2/share the company has a market cap of $51.5 million. If we remove the $29.2 million cash balance and divide by its latest earnings of ~ $4.5 million I get a PE ratio ex cash of 4.95! Otherwise it's PE ratio is ~ 11.44 with more than 56% of its market cap held in cash.
Are you kidding me?
Plus we have amortization expenses of over $2 million that will come off the books by end of 2022. The potential PE ratio ex cash after this date will look even more attractive at current prices.
This has to be one of my highest conviction stocks heading into 2022.