The PE is low when looking at trailing earnings, but could be high on a forward basis.

Earnings for a company like this can be very volatile, and given what is happening in the sector, the market clearly thinks earnings will be far lower in the year ahead.

Eg. Trailing PE is 3, but maybe the forward PE (based on next year's earnings) might be 20 -- for example.

To be clear, i've done zero research on this company, just offering some thoughts. The opportunity here is that the market has it wrong and earning will hold up -- in which case shares are ridiculuously cheap. But if earnings do collapse, they could still be very expensive...

Food for thought