P = Price per share
E = Earnings per share
PE means Price times earnings.
In the example I gave, earnings were .50 per share.
According to Investopedia: "The average market P/E ratio is 20-25 times earnings."
Using the low end of that (20) the share price would be 20 x .50 or $10.
Actually, based upon revenue growth of about 100%, the PE ratio should be much higher than that.
And, yes, a company must have profits in order to have a PE.