Rentech, Inc (NYSE: RTK) announced revenue of $24.7 million compared to $74.6 million for the prior year. This is a net income for the year of $3 million or $0.02/share. Not too bad, but the street was not amused. We entered a trade on this one at $1.54 at the end of November. Today we were stopped out at $1.59.
Rentech is a clean energy company that has been around for a very long time . They’re testing some interesting technology and seem to have a fairly repeatable process. We’re still undecided about getting back in. The debt-to-equity ratio is a little high but this still might be a good short term play with a tight sell stop. There is support near 1.44 and 1.38 which might prove to be a good entry point in the future. It’s also still above its 21 day SMA which is a good sign for now.
