PRY.v has now closed at 66c. There has been 2 hammer formations in the last 3 trading days, a sign of a bottom here.
https://stockcharts.com/h-sc/ui?s=pry.v
The latest earnings report have been very strong.
Fourth quarter funds from operations increased by 41% to $20.7 million ( $0.10 per basic and $0.09 per diluted shares outstanding) for Q4 2012 compared to $14.6 million ( $0.07 per basic and diluted shares outstanding) during Q4 2011, and increased 38% in Q4 2012 compared to $15.0 million from Q3 2012
Pinecrest increased 2012 net income by 284% to a corporate record of $32.1 million ( $0.15 per basic and $0.13 per diluted shares outstanding) compared to $8.4 million ( $0.05 per basic and $0.04 per diluted shares outstanding) in 2011 and increased Q4 net income 115% to $12.5 million ( $0.06 per basic and $0.05 per diluted shares outstanding) compared to $5.8 million in Q4 2011;
Further, one needs to note that management have bought stock in the company at higher prices.
https://www.canadianinsider.com/node/7?menu_tickersearch=pry.v
The other bullish sign is that the book value of PRY.v is around $1.81.
https://finance.yahoo.com/q/ks?s=PRY.V+Key+Statistics
The debt is concerning, however revenues for 2014 should be $172m.
I am bullish going forward and have bought an initial position today at 0.66.
My target is 1$ by end of the year.
Thanks for reading.