Asset Valuation
I was fairly surprised at how cheap it appears on an asset level. There is $176.319 million in net tangible assets and as of March 8, 2010 38,140,043 shares outstanding. This gives us a $51.87 million market cap against that $176.31 million in net tangible assets or a 29% discount to NTAV.
I crunched net tangible asset value per share at $4.62 per share and the stock is only at $1.36 as of the close today.
It has technically just broken out of a trading range but has a lot of resistance around the 1.50 area. I think this cheap stock goes higher over the next few days and tests that 1.50 at the least and probably will continue higher from there.
full disclosure:no position at time of writing however I may go long (buy) the stock this week.