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From: pooruncle (Rep: 4) reply to Titanium

Date: 05/02/2012 11:55

Forum: Wall Street Pit - Msg #2265982 - List WH msgs

Thread #673396815 (Rec: 0)

Doesn't WH have a $3 buyout offer? Non0binding? Re: WSP Holding Ltd. (WH) is trading at $1.25. WSP Holdings is a leading maker of...

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Reply to Titanium - Msg #2265976 - 05/02/2012 11:46

WSP Holding Ltd. (WH) is trading at $1.25. WSP Holdings is a leading maker of steel products and pipes for the oil and gas industry. The 50 day moving average is $1.32 and the 200 day moving average is $1.32. WH is a possible turnaround play and recently received a huge order for about $91 million which you can see here. The book value is reported at $3.40.
Why WSP Holdings shares could rebound: The oil and gas industry is booming and the last time oil was over $108 per barrel, this stock was trading at nearly $8 per share. While I don't expect $8 anytime soon, from these low levels a little good news in their next earnings report (which should be released at the end of May) could catapult this stock much higher. The stock is within striking distance of breaking out over the 50 and 200 day moving average of $1.32. Another big positive sign and vote of confidence is seeing that Oaktree Capital Management, LP. reportedly owns over 7 million shares in this company which is nearly 7% of the outstanding shares. You can see them and other major holders listed here.

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