Buy PFIE and wait for shorts to cover
PFIE had 3.4m (6.5%) shares shorted as of Dec 31. Insiders control 60% of the outstanding shares and are unlikely to help the shorts cover.
Sept 30, 2014 - Cash
18M, no debt, Net Income 2m, so the company is very unlikely to go to zero. The shorts will need to cover as the stock appears to be putting in a floor.
PFIE is an oil services company which has sold off with the sector. In the summer of '14 they raised 16m at $4, and with no debt, they are well positioned to weather the storm.
Buy at $2.52 for a trade to resistance at $3.20 and re-evaluate at that time.
Sept 30, 2014 - Cash
18M, no debt, Net Income 2m, so the company is very unlikely to go to zero. The shorts will need to cover as the stock appears to be putting in a floor.PFIE is an oil services company which has sold off with the sector. In the summer of '14 they raised 16m at $4, and with no debt, they are well positioned to weather the storm.
Buy at $2.52 for a trade to resistance at $3.20 and re-evaluate at that time.
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