What I find intriguing is that with one final upcoming quarter of CF+ operations (due to be reported by the end of the month) ENA will have completed 4 consecutive quarters of profitability. This means ENA is likely to report a yearly profit. So, ENA will soon have an "e", which allows for a price to earnings (PE) ratio. Equivalents in the sector (PSI, SDF) trade on PEs north of 25. We will thus soon have a very clear metric to gauge valuation on (aside from p/GWP) and one would imagine the share price will track upwards as earnings grow to keep the PE steady at that ~25-30x level.