Texas (Mar. 22, 2013) Wax Ink has issued a No Investment Interest rating for Abraxis Petroleum Corporation. (Nasdaq: ABAX) based on a recent baseline equity review which placed fair value between $7-$8.
The recent close of $2.38 is approximately 45% below the fair value buy target for the stock and approximately 73% below the fair value close target for the stock. The recent close is also 21% below analysts' $3.00 median target for the stock.
The stock currently has a trailing twelve month PE Ratio of 10, and a PEG Ratio of (1.3) basis estimated forward earnings growth of (8%).
In the past 52 weeks, share prices have moved between a high of $3.45 and a low of $1.56. With the recent close, the stock is trading 45% below the 52 week high and 35% above the 52 week low.
Abraxis Petroleum Corporation is an independent energy company engaged in the acquisition, exploration, and production of oil and gas in Northern America.
All valuations are based on the listed company's most recent SEC annual filing, and all prices are per share.
Wax Ink is a baseline equity research company comprised of individual investors, NOT licensed or registered with ANY government agency.
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.