Some Reasons You Might Want to reconsider (Shorting)
Short interest higher as % of float than at any time in the past year at the Same Time PEIX is In the Best Position In the Past Year
Settlement Date 5/31/2013
Short Interest 844,206
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1.) Short Supply:West Coast Ethanol Fuel Ethanol Ending Stocks Reaches 2011 Low
2.) US. Ethanol Supply the Lowest Since the Start Of Recording in 2010
3.) Consumption Highest for this time of Year Since the Start Of Recording in 2010
4.) Increased Ownership Intrest to 83%
5.) Improved Margins ~ (Margins Positive All Of Q2 2013)
6.) Corn Oil Production Started in Q2
7.) Debt Refinanced at Lower Intrest Rate
8.) If Midwest ethanol producers believe they are disadvantaged by the California low carbon standard, it stands to reason Pacific Ethanol Will Benefit
9.) 2011 when sales topped $900 million and could deliver another $900 million in total sales for the year 2013 (Price to Sales Valuation)
10.) Trading at 0.20 times assets undervalued in terms of (Price to Asset Value)
(These plants have been proven to have value even in bankruptcy)
11.) Balance Sheet (Price to Book Valuation)
Cash at Mar. 31 2013 ~ $4.19M
Credit Line ~ $22M
Current Assets ~ $65.5M
Current Liabilities ~ $23.25M
Working Capital ~ $42.26M
12.) Supported by State and Fedral Regulation Requirements that Increase Every Year.
13.) Proximity to Local Markets and Using Sorghum Makes PEIX Low Carbon Fuel Standard Compliant While
California’ ethanol market is the largest in the U.S. and represents the majority of sales by Midwest-based ethanol producers
14.) Using Imported Sorghum from Argentina at 90 cents Cheaper than Corn Bushel,at Stockton Plant
The Market Can be Wrong for Long Periods Of Time,before Correcting
But Make No Mistake,This Will Return to Mean to Proper Valuation
And Likely Soon !
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