Excuse me for butting in, but I have been walking (and watching) this dog for over two years.
To my knowledge, the only broker who ever followed this stock was H.J. Meyers. In fact, last summer, when the price was around $4 and holding, a call to them elicited a forecast of $6-9 in the next 12-18 months.
It would be my guess that since they are the object of a shareholder's class action suit for price manipulation (I am a member of the class, lucky me), that they may be reluctant to update their forecast. Also, if they are still a major MM, they may be keeping the price down.
On the bright side, they took most of their major hits last quarter. What with the up-front from Coherent, the sale of a big portion of the ill-fated Nexar, the divestiture of fringe businesses, they could look a lot better this quarter. Of course, there are always the "accounting" entries. I am not an accountant, so who knows.
I really believe there will be a profit during '98. If so, this sucker could run. I am seriously considering buying a couple thousand more shares at these prices, as it would bring my avg. down to around $3.
As I said, I have followed this stock for quite a while. There are probably others who know more than I. However, if anyone needs "history", I am here. |
