September's not the best month traditionally
IIRC, fiscal Q3/4 are the strongest. I guess this has to do with budgeting by various customers, planning, construction during good weather months, shipments occurring during those times and the AR getting the boost from the timing of those items.
Of course, with DJ now having shifted the time-line line from 12 months for backlog to flow though to 15(?)-18 months now, that may shift "best quarters" from Q3/4 to somewhere else.
With the ATM being available again (after?) September, I would be surprised to see the $1.70 area hold. If they surprise us with multiple really big catalyst PRs I guess it could do so.
With the recent spike and subsequent trading high (for now?) I still think the warrant holders will get some kind of push going to get the warrants in the money.
One thing to keep in mind - if they do get it there there are not only the A warrants that could come into play, but the $0.01 B warrants if one or more of the share buyers would exceed 4.99% of the company. That would substantially alter the net cost basis for the warrant holders coming profitable.
So maybe they don't want/need to get $2.55. Maybe the deal is/will be take enough shares to get the A/B warrant combo into profitable territory while dumping the actual purchased shares <= 4.99% of the company into the market.
MHO,
Bill
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