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Another day, another new contract. Small beer at £2M, but every little helps. More significantly, BAB’s combined order book and pipeline has now hit its highest ever level.
Serica picks Bab**** for North Sea copter flights
https://www.energyvoice.com/oilandgas/north-sea/213025/serica-picks-bab****-for-north-sea-copter-flights
Declared shorts now down to 7.67%. That's 1.2% of shorts closed in less that 3 weeks.
Another contract confirmation and declared shorts fall below 8% - strong start to the week.
G
Rouge River - have to agree with your comment on the Institutional shorts - on the 9th Nov 2017 Short interest Tracker quoted declarable BAB shorts at 0.7 %.
By mid Jan 2019 shorts were sitting at circa 8.5% and the sp was around £5.00. The media spin for BAB was somewhat negative particularly the Times and the Telegraph who tripped over themselves to publish "the Boatman" one page website, as to their motives, I'll leave that for others to decide.
Throughout it all BAB just got on with business. To me the future looks much brighter, as we move towards 2020. With the recent trading info and contract wins.
With the sp sitting at £5.86 over the weekend and Institutional shorts still at 8.52%, it looks like something will have to give.
Marshall Wace LLP, Gladstone Capital Management LLP, AQR Capital Management, LLC and AKO Capital LLP for AKO Master Fund Limited have reduced their positions slightly in the last month. Those that decided to increase their positions this month must be feeling a little uncomfortable.
When they decide to close out they will be tripping over themselves.( saw this before in TLW in 2017 /18 where shorts went form 16.29 % to nil in 24 months ).
Bring on £6.00, and lets see what they decide do lol.
gla
G
Most of the short positions to date were placed from Jan 18. The SP average over this period was somewhere between 600-650p, so I think short sellers will be getting a bit nervous now, given that they have over £200M worth of shares to find. Shorts have already dipped by 0.3% in the last 3 weeks. They probably aren't panicking yet, but I suspect short sellers' stop losses will start seriously triggering when the SP goes above 600p, which can't be far away. If we get a Conservative majority in Parliament next month, I think the SP will soar in anticipation of pretty robust defence spending and confirmation of recently won contracts.
On the other hand...
Given the unusual upward momentum, perhaps there is a short squeeze taking hold.
Portends
I predicted a short squeeze when the SP was last in the 570s on the type 31e contract news, back in Sep. Instead, shorts increased. These deceitful short sellers are clearly hoping for a self-fulfilling prophecy. Meanwhile, there is nothing in Bab's fundamentals that potends anything other than an improving market cap.
Indeed :)
Anyone know the next key resistance level to the upside where the price might stumble?
Thanks
Short squeeze time !
This morning there were many relatively high volumes O-types trades which support SP, fortunately, enough. I guess due to the recent news the company is slowly growing in popularity investment-wise for the individual investors. Hopefully, the shorts will face more resistance comparing to the past. (IMHO)
Shorters will sell into anything other than unambiguously good results.... this morning is further evidence of this ... expected recovery under way already
20 Nov 2019
Half Year Results for the six months ending 30 September 2019
If positive, may give momentum to an upward trend in the SP and force some of the short sellers to close positions. Trading statement in September affirmed that trading was in line with previous guidance so hopefully only positive surprises.