Solco is a Bargin when you compare it to its peers. I couldn't find any peers on the ASX but found 2 on the NYSE.
RSOL (numbers in USD) Revenue in 2008 $40M Cash in Bank $12.7M Market Cap $70M http://finance.yahoo.com/q?s=RSOL In Qtr 1 2009 they made a loss of almost $1.4M
AKNS (numbers in USD) Revenue in 2008 $40M Cash in Bank $2.9 Market Cap $55M http://finance.yahoo.com/q?s=RSOL In Qtr 1 2009 they made a loss of almost $1.4M
SOO (numbers in AUD) Revenue in 2008 $26M Cash in Bank $3.5M to $4.0M Market Cap $11M (@6 cents a share)
If you use AKNS as the indicater for the SOO shareprice. SOO should be trading at a market cap of around $36M. Which means the share price should be at $0.18. If you base it on RSOL, SOO should be trading at $0.227.
If you base it on fundelmentals SOO should be priced at a premium, as it is profitable, where RSOL and AKNS both burned through cash in 2008.
No doubt based on the above SOO should be trading well above $0.15!
GOE Price at posting:
6.5¢ Sentiment: Buy Disclosure: Held