As I have said before, the shorters are in a safe position at...

As I have said before, the shorters are in a safe position at the moment and could be for another 3-12 months. NTC doesn't have anything that they can hit the shorters with other than a 2-year earnings guidance. The open short position reports show a steady increase and the report as at 21-Dec-16 shows 2.8% of the float short. I would consider 2.8% to be low and I do see the possibility of a increase.

Is there a good reason to short NTC? I think so. The current market cap of $300M means that in my book, NTC need to achieve at least an annual $30M profit to make me want to buy this stock. I don't have any idea if NTC will achieve this sort of profit and if they do, it is not guaranteed to be sustainable as these projects have limited lives. Nobody knows how much money NTC will make from the AT&T deal. There is a great deal of risk if the AT&T deal goes sour. There is a fair case to say that the share price is too high based on future earnings and the market wants to bring it down, at least until there is some clarity on the future profits. I am firmly in the "show me the money" camp although I am still long on NTC.

I will be happy to let the shorters drive the share price down for the next 6-12 months, maybe get the open short positions to 7-10% and then start accumulating.