ECNG is gaining some nice ground back in anticipation of after bell earnings Aug. 10. The addition of another board member was not recieved with any fanfare, but I think it signals that they are serious about increasing customer base and consequently, revenues.
Think for a minute about the other players in the smart grid business who have no positive EPS whatsover, just alot of smoke and mirrors. Some of these emerging "green" businesses are just a joke IMO who play on the "green" wishfulness of progressive investors. Some are reluctant to report in a timely fashion knowing that what is buried in their Q is really not that appealing from a basic business sense mindset. ECNG, on the other hand, seems excited to let this Q out, and wanting to get as many eyes on it as possible.
My previous thoughts on 2010 EPS of .08 might be quite low - After next Tuesdays Q is released we will have a much clearer picture... Still, if they only earn .02 for the quarter we are on pace to post that .08, and once the market will once again allow a US based BB stock earning money to have a very very low end fair 5x valuation, we should be looking at a 40 cent stock by the end of 2010.
I have an odd feeling that Tuesdays Q might be pleasantly surprising. I would be quite happy with another positive .02 but the subtle indicators are leaning towards better than that. Or that they are gearing up to catapult ECNG to the forefront of the midwest smart grid pack. They are the small dog perhaps, but they are the dog making money, not promises. I have read many many articles about the promise of smart grid and ECNG rarely, if ever, gets a mention. I think this is about to change as the market will not be able to ignore them much longer.
malc.
