No body is buying this stock because the book value is over $6.
That statement is laughable on its' face because you can't interview PEIX stockholders who you haven't met, and you don't even know their names because you don't have access to that information.
[PEIX] might move up yes. $1.50 at the short term isn’t unthinkable. $0.90 isn’t also. But that’s just normal market movement. No body is buying this stock because the book value is over $6. It means nothing if they have poor results.
Pacific Ethanol has a Book Value well above $6/share. That means that even if you ignore the value of their patents and their goodwill, they still have other assets, like the value of their real estate and their physical equipment, that is a multiple of the current trading price of this stock.
In a worst-case scenario, even if this company started selling some of their assets, those sales would produce so much income, the price of this stock would quickly rise well above $3/share, which means that the current share price is a severe undervalue of the company.