Star Maritime Acquisition Corp. is an AMEX listed security that has been trading in a range between $9.45 and $13.15 over the past year. With 29,026,920 shares outstanding, a recent price of $12.40 gives a total market capitalization of $377,059,684. While there are certainly larger companies, Star Maritime Acquisition Corp. has definitely earned its place in the pack. Last year, Star Maritime Acquisition Corp. created $0.09 in earnings for every share outstanding.
Star Maritime Acquisition Corp. is currently priced by the market at 153.60 times last year’s earnings. Many trading multiples around the world are quite attractive these days, but don’t be fooled. A Price to Earnings ratio of 0 simply means that the security didn’t make any money last year.
With a share price under $50 a share and earnings per share below $1 a share, Star Maritime Acquisition Corp. could be an interesting value proposition.
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