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Update, the weekly price bar of 25/12/23, made a new high, but then the close, was below the previous week close. This price bar was a potent reversal of the preceding rally, and essentially negated my previous comment. In addition the reverse head and shoulders formation, previously described, was negated when the time element failed to produce a subsequent higher high after the weekly price of 25/12/23.
Sector chart, in uptrend. OXIG, reverse head and shoulders price formation, provides a sp, forecast of 2826. There is some overhead supply from previous trading, which will require to be absorbed, in volume, before the target price of 2826, is reached.
"Our expectations for the full year trading performance are unchanged." Described as a "robust" set of results which implies an improvement in the second half. The adjusted basic earnings per share were virtually unchanged (-2.8%) and the interim dividend increased by 6.5% reflecting their confidence in the future. Cash conversion was down reflecting an adjustment for capital expenditure on capacity expansion and inventory build-up ahead of transfer of operations to new facility and is expected to return to historic rates in the second half. Still net cash of £79.1m so no issue with banking covenants. The presentation can be seen at https://www.oxinst.com/investors-content/financial-reports-and-presentations (registration required. All in all satisfactory against market expectations which were somewhat more gloomy hence the sp rise today.
Thanks for that Thungelaberg. Yes same here but it all sounds very positive!
Possibly something to do with this, but it's way over my head:
https://www.einnews.com/pr_news/616109134/uptime-maximised-by-oxford-instruments-oqc-s-lucy-cold-for-a-year
Price rising steadily and now back up to levels not reached since last year's withdrawn takeover. Something going on?
Oxford Instruments Chief Executive, Ian Barkshire, and CFO, Gavin Hill present the Full Year 2022 results for the period ended 31 March 2022.
Watch the video here: https://www.piworld.co.uk/company-videos/oxford-instruments-oxig-full-year-2022-results-presentation-june-2022/
Listen to the podcast here: https://piworld.podbean.com/e/oxford-instruments-oxig-full-year-2022-results-presentation-june-2022/
oxig ceo....on sky news atm
Very good update in the circumstances.
https://www.lse.co.uk/rns/OXIG/trading-update-9ytv0v0mvo6tiba.html
So much for my first recommendation. I guess I can plead force majeur, but I should have thought about wider events when I posted. Even so, we’ve had someone identifying value and willing to put up £19 cash, never mind additional shares. OXIG have now left themselves open effectively to any offer about £30. This feels like being yet another UK tech firm about to get snapped up cheaply from abroad. After those thoughts, I’m just going to tuck into a big slice of humble pie.
Yes i think it is a steal but what the market thinks is ultimately the arbiter. No idea why this isn't nearer the effectibve £31 take out price. Money for nothing it would seem?
I’m new here and have just written a long rambling piece trying to argue how cheap the stock is, but it vanished just as I was about to post. Apologies therefore if it crops up twice - this time abridged…
I’m amazed the board are willing to sell at such a low level. The shares have been this price a number of times recently and I’m sure many long term holders have been in no rush to sell - and the big cash element of the bid means one is reducing exposure to pure OXIG enormously. Maybe expensive on PE grounds but the strong b/s means one has to look at multiples higher up the P&L. And this is proper tech: who can say where fusion technology is going, but it has to be worth a lot more than this. I could see a bid probably from the US at a much higher price - more like £40. Surely we’re not going to let this one go as easily as the board have presently agreed?
Indeed market not yet factoring in full value of offer at 31 quid. Maybe some doubt deal will go ahead but both sides seem to be pretty enthusiastic...
Surely this is a no brainier at this price if the purchase goes ahead! or am I missing something?
Hilarious - comes just after downgrade from Jeffrey's!
From Spectris at around 30 quid per share. Board minded to accept!
Why has the SP fallen back?
It was 2605 six weeks ago, end 2021.
Any answers welcome.
CHAT
It is a dark horse this one,. It is not on the radar of alot of investors because it is ftse 250 ?
Up at least 50% in 6 months and hardly a word on this board! Does anyone know why it's performing so strongly?
i remember when this stock was £2.50 and i was saying to myself it was over valued.
Has to be one of the quietest bulletin boards around. A 15% rise and nothing! The quiet ones are often the ones to watch!
Arti.
The bull run should start now.
Keeping my eye over here - right now it's at an ATH but my gaze has shifted to the market opportunity here given the nascent yet well established market for Dilution Refrigeration. Also note pretty sure that OXIG still have some equity in Tokamak Energy and vv close relationships with them. Poised nicely in terms of Fusion Tech...onto the LT watch list for me.
In case any one missed it - https://www.oxinst.com/news/nasa%E2%80%99s-flying-observatory-sofia-discovers-water-on-the-moon/
10% tick up today , strong buying
blue start to week