Doesn’t the analyst’s valuation price that in? If a turnaround is going to happen, it has to happen now. Martela’s cash position is practically empty even though they just sold their facility and are now renting, and if it’s replenished through a share issue to large investors, the price will surely be below the market rate and the stock could be heavily diluted. If they need, say, 10m, everyone can do the math—if the company isn’t recapitalized, the share price is zero if bankruptcy occurs. Since there is always some price for the share, as owners aren’t liable in a limited company (oy).