ATPG. Stock closed today at $17.71.
Starting with a few shares purchased in 2006 at prices $39-$45/sh. and a few more in 2007 at $47, some in '08 at $29, I have jumped up my position quite a lot this year, to where I now have a substantial position.
Stock is undervalued as I understand it.
seekingalpha.com
And especially, from the Rodman and Renshaw oil conference about a month ago, slide #3 on nav:
phx.corporate-ir.net
My idea has been that as long as the stock isn't discussed on SI's Big Dog thread, where the presumed oil/gas/supplier mavens hang out, that either the story isn't well known (which is my bet if the stock isn't mentioned there either pro or con), or else the story is known & not worth discussing because there are drawbacks or problems to my simple nav:price buy decision, and I am very wrong in assuming the stock is a value. Or even if it is a value, it's only because I don't know the risks with this company's endeavors, and the SI oil people have looked, do understand those risks, and have passed on the stock. (Or maybe the risk is market --- people are expecting oil prices to fall, ergo, oil/gas common stocks will decline substantially regardless of any calculated nav for a particular stock.)
In any case, I'm assuming the numbers and my conclusions are correct from the research done by some determined people who've looked at this company. And that the stock value is there, and yet it is still not generally known. So the stock is still a buy.
In past, when I have made such bets I have been wrong, sometimes in a big way.
I'm sticking to my idea though, building my position, adding shares frequently now, both at lower and higher prices than currently. |
