FreeSeas, Inc. (NASDAQ:FREE)

CAPS Rating: 1 out of 5

An independent commercial shipping company that operates in the drybulk shipping markets through its three wholly owned subsidiaries: Adventure Two S.A., Adventure Three S.A. and Adventure Four S.A.

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Member Avatar DeathStock (99.55) Submitted: 4/24/2016 6:32:15 PM : Underperform Start Price: $1.26 FREE Score: +7.25

This is a Cash Cow!!! ....... for shorts

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Member Avatar TSIF (99.95) Submitted: 4/22/2016 1:33:37 PM : Underperform Start Price: $1.24 FREE Score: +5.84

Bank and re-upp, although the rapid fall could mean a bottom bounce, and the low float (next to nothing after the last 1:200) could spike a sharp ramp up...actual value has little meaning in a low volume, low float spike cycle....

Entity is worth less than zero.

target...depends on pace of decline...

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Member Avatar DigitalDisco (< 20) Submitted: 4/19/2016 2:51:58 PM : Underperform Start Price: $1.72 FREE Score: +31.08

Testing a theory that stocks that perform reverse splits underperform the market over the next several years.

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Member Avatar anchak (99.88) Submitted: 4/19/2016 10:05:13 AM : Outperform Start Price: $1.83 FREE Score: -35.17

Ok - wrong side!

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Member Avatar RES7 (99.35) Submitted: 4/15/2016 12:24:24 AM : Underperform Start Price: $2.24 FREE Score: +47.41

jed71

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Member Avatar SmartAce (99.90) Submitted: 4/14/2016 4:07:28 PM : Underperform Start Price: $2.47 FREE Score: +52.07

I discovered I scream the same way whether I'm about to be devoured by a great white shark or if a piece of seaweed touches my foot.

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Member Avatar jed71 (99.85) Submitted: 4/14/2016 11:51:23 AM : Underperform Start Price: $2.46 FREE Score: +51.96

This stock has become one of my favorite punching bags on the market, so I feel like I have to personally thank the NASDAQ for continuing its listing in light of extremely questionable business practices. Here is their latest antics:

"4:31 PM ET Freeseas announces 1:200 reverse split to take effect tomorrow morning Briefing.com "

I think TSIF likes to call this "putting lipstick on a pig." I am going to agree with that sentiment.

Even though I really don't like putting a down thumb on a stock already down 15% in a day, my wild guess is they issue a whole bunch of shares and completely dilute current shareholders out of existence. Two very funny items I'd like to point out on this stub:

1. In July of 2007, when accounting for the many, many, many reverse splits this company has performed, the stock traded for more than $54 MILLION DOLLARS!! No, I am not joking...

2. Accounts Receivable shows $3.3MM in receivables. Provision for Doubtful accounts shows..... $3.3MM. Sounds to me like you might want to find yourself some new customers!!

Greek bulk shippers really do provide a HUGE amount of entertainment for finance geeks like myself!

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Member Avatar eldemonio (98.46) Submitted: 7/6/2015 1:25:25 PM : Underperform Start Price: $30,960.00 FREE Score: +99.54

You can't make money if your stock is FREE, and this one is headed that direction.

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Member Avatar SqwiiTrader (< 20) Submitted: 2/19/2014 6:40:46 PM : Outperform Start Price: $1.0M FREE Score: -112.07

Tom Demark monthly 13 buy signal , bull market starting

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Member Avatar tobywan (54.11) Submitted: 12/13/2013 12:33:27 PM : Outperform Start Price: $671,760.00 FREE Score: -115.17

Just a shot at long term hopefullness. I'm not looking at the stock in terms of market indicators but as how I perceive the company. I like shipping companies, a lot, they are one of the most underated industries considering how necessary they are to our way of life. Free seas isn't anything special but they have a plan for removing debt, increasing revenue and changing leadership. I believe they have reached their low following the reverse split and while such splits don't typically bode well for a company their immediate investment in new revenue building assetts builds a sense of trust.

Again this is just a hopeful gamble by a novice/beginner

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Member Avatar columbianflash (< 20) Submitted: 12/5/2013 9:04:30 PM : Outperform Start Price: $780,000.00 FREE Score: -113.69

seems to look good, only after a few months or so. the gains a too much along with the price being so flexible.

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Member Avatar kenzo08 (< 20) Submitted: 9/27/2013 12:07:09 AM : Outperform Start Price: $498,000.00 FREE Score: -121.65

yes

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Member Avatar brandonschklar (90.06) Submitted: 3/10/2013 10:26:08 PM : Outperform Start Price: $1.0M FREE Score: -132.24

i wish you can buy any thing for free.....

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Member Avatar rickyt1986 (73.86) Submitted: 3/7/2011 3:12:42 PM : Outperform Start Price: $1.0M FREE Score: -156.20

long on all my ship stocks a good company is hard to sink in a needy economy

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Member Avatar KratosKlaso (< 20) Submitted: 2/7/2011 8:25:09 AM : Outperform Start Price: $1.0M FREE Score: -156.27

Undervalued currently

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Member Avatar whomonkyoulus (28.61) Submitted: 10/13/2010 3:51:55 AM : Outperform Start Price: $894,000.00 FREE Score: -148.49

10k * 30 = 300; X10 = 3M
* 9
27M - exp
=15M
PE ~ 2-5

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Member Avatar kutaone (< 20) Submitted: 5/3/2008 10:53:41 PM : Outperform Start Price: $1.0M FREE Score: -151.02

Another boat coming on line later this year..continuing to increase fleet size...Great divy...

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Member Avatar zsam1 (< 20) Submitted: 4/28/2008 5:18:07 PM : Outperform Start Price: $1.0M FREE Score: -152.88

undervalued

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Member Avatar 1234azi (< 20) Submitted: 4/26/2008 11:11:04 PM : Outperform Start Price: $1.0M FREE Score: -152.35

will out perform in the coming months.very sold foudation the company have.

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Member Avatar TheCorrectCall (59.56) Submitted: 4/6/2008 2:44:58 PM : Outperform Start Price: $1.0M FREE Score: -154.45

FreeSeas is a dry bulk carrier currently operating with 5 ships. Through recent acquisitions, that number will be up to 8 in the next six months. But that’s not all that’s growing…

For the year just ended, FREE’s revenues were up 71.8% for 2007 as compared to ’06. The consensus estimate for sales in 2008 is hair under $63 million, up from 20.15 million in ’07. That’s some supercharged growth.

Unfortunately FREE was unable to produce a profit for 2007. However, the company has improved its balance sheet by paying off some loans and is expected to be profitable for the year.

The consensus estimate from the 2 analysts that cover FreeSeas is $1.07 per share for the current year. At that estimate, FREE trades at roughly 5 ½ times its forward earnings.

This is where the fun starts. The average P/E ratio of the 50 companies that make up the Dow Jones Marine Transportation Index is 12.89. At the average P/E, FREE shares would be valued at $13.79, a return of 132%.

Let’s go back to FreeSeas revenue expectations. At 63 million, FREE is currently trading at 1.5 times its projected sales. The average DJ Marine stock trades at 3.39 times sales. At the industry average, FREEs share price would be a little less sexy at $13.35 per share.

But wait, there is more… On February 7th, FREE announced a quarterly dividend of 17.5 cents per share. That totals up to 70 cents per year. At the current stock price, that’s a 14% yield. According to FreeSeas CEO, Ion Varouxakis, it is the company’s stated policy to continue paying that 17.5 cents every quarter in 2008. Try to find that at your local bank.

So even if all of our projections are wrong and the stock doesn’t move an penny in the next 12 months, you’ll make 14% on your money. How sweet is that?

But quite frankly, If FreeSeas meets its 200% growth target for the year ahead, a 13 P/E and a 3.39 price to sales ratio seems kind of low.

We would also expect such explosive growth to catch the eye of more than 2 analysts, meaning more exposure for FREE.

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