Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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When the conversation about yin and yang begins, it often signals the start of a movement in share prices. BATM primarily utilizes its capital for research and development, go-to-market strategy, capital expenditure, and working capital. The company also prioritizes delivering value to shareholders, as evidenced by the distribution of a $4.3m dividend (announced in December 2021) and the execution of a $1.3m share buyback. It is encouraging to see their commitment to reinvesting for greater growth and profitability, and they appear to be delivering on their promises.
Sorry, nutmeg, but the close of ILS135.1 in Israel today (on just 160k shares vs the 1m+ that traded here Friday) is the equivalent of only around 38.2p which doesn't quite rise to our 39.25p close on Friday (when the TASE was closed of course). So we'll have to hope the price continues its rally in Tel Aviv tomorrow while Friday's buying in London continues as well.
Moving up on tase also +5.90 (4.57%)today
After months of persistence, the price has finally surpassed the 200sma daily time frame and broken through the long-standing downtrend line that has been in place since August 2020. Looking at the chart, it has been an exceptional week, and it's about time!
As another poster points out on ADVFN, if the rebalance of the TASE 125 - Israel's 1st or 2nd most commonly used benchmark - were held today, BATM might have a technical chance to be allowed re-entrance, at least on the market cap metric. Despite that, it would still be unlikely as the stock market officials responsible for making those decisions, use other measures as well, like liquidity and/or free float. However, as he further explains, if BATM can go continue on a further genuine, sustained 20%+ rally, particularly against the backdrop of a very weak Israeli market this year overall, then BATM's eligibility may become irresistible at the time of the next rebalance. Remember: the ejection from the TASE 125 last August resulted in a shocking 7m excess shares for sale at the close of the rebalance day, which caused a significant fall in the sp, and in some ways, an overall negative impact on sentiment from which we are still recovering.
Getting fun here, usually when the yin and yang conversation starts, it is the start of a share price movement!
BATM's primary use of capital is investment in research and development and its go-to-market strategy, capital expenditure and for working capital. The Board also considers returns to shareholders to be an important element of its strategy to deliver shareholder value as demonstrated during the year by distributing a dividend totalling $4.3m (declared in December 2021) and executing a buyback of 4,495,000 ordinary shares for a total of $1.3m
happy for them to reinvest for bigger growth / profit and it looks like they are delivering!
For the record, I was originally very critical of the Company when it began to appear that the buyback had slowed or even ceased, particularly when the shares were ejected from the TASE-125 last August. But I've done a lot of work on the Company's focus businesses, particularly Edgility, and particularly the CityFibre contract - which I think is going to be printing money when it gets to critical mass sometime next year - and I shifted my investment thesis. I too averaged down very significantly in the low 20s and I'm particularly enjoying this mini-rally which I think we all have a legitimate hope is the beginning of something more significant. We'll see
Agricore - I didn't mean the Company 'cancelled' the buyback formally. In fact, it has been approved and was engaged briefly and could be engaged again at any time. What I meant was that management made it clear some time ago that they were in the early stages of what became their new strategy under Moti, namely the goal of focusing the firm on what we now know are the 3 growth businesses to which they would seek strategic acquisitions focused on gaining Tier 1 customers, and disposals of the areas deemed non-core. In the context of that significant a strategic shift, the message becomes clear that excess capital will be marshalled toward investments and not share buybacks. Moti indeed confirmed that I believe while answering a question in the retail shareholder webinar. Fwiw, I attended a couple of presentations and debriefed with others who had one-on-ones. And finally, I don't mind naming names: I'm sure he's just a lovely investment partner for you elsewhere, but over here Dartron is an ignorant tool.
....Hence the importance of last Thursday's investor call I think Dartron. Would've given me a chance to look into the whites of Moti's eyes, and to be fair to see what answer he gave (if any) to my questions. I hope you took the opportunity, too, to submit questions or attend to ask about "the issues that hold this stock back". And for that matter what other questions he was asked and how he answered those. His capital day presentation was good.... but very text book management consultancy. I am encouraged by the contract wins announced since then, and the non-core planned divestments, and if we continue to see action not words then that tackles the 1 concern I had that this was some highly-sophisticated lifestyle business always on the cusp of brilliance...... the Gartner endorsement is another "action" I think which helped settled my disquiet. It was much harder when Edge Computing was the next huge thing but no one except BATM was saying so!
Hopefully the presentation was recorded and it will appear on BATM's web site in due course (it isn't there now, nor is the meeting mentioned under events - which I find strange).
PS I love boards that are virtually dead because they can represent overlooked value. This board was virtually dead for quite a while wasn't it? A busier board, now, just might be a positive sign.
Kind of you to say, yes we have both been investing small caps for a while, and have been in several of the same stocks.
What you have to take in to account here Agri, is that without mentioning names, there are multiple 'promoter' accounts here, trying to dictate the conversation, especially to brush past misdemeanours under the carpet. I have had 2 reasonable wins on BVC in 2023, so not sore on the stock in absolute terms, but there are issues that hold this stock back and for me make it an unattractive investment. Most notably returning value to share holders. If you removed the promoter accounts, this board would be virtually dead.
Hi Incontext, I've been on here many years.... and so has Dartron. I believe the answer to your question is he lost money and gave up on BVC and probably still feels sore, so checks in here from time to time. Contrary to Dartron, I stayed invested here and in fact averaged down at the lows based on my reading of the value here. I value Dartron's contribution/perspective here, and on other BBs where we both hold shares.
.... because I would actually like to know the answers to my questions. Sure others would too.
And just to explain why I asked that question Bluerill I get the point about investing into the products (and agree) but the cash pile is pretty static year on year. So any investment was made without needing to burn through that cash pile, which therefore meant the buyback could have happened.
Hi Bluerill, like Dartron I simply never saw any such statement from the company about them cancelling the buy back - and I think I've read every RNS and their annual report. Do you happen to know when they said what you say they said?
Moreover did anyone actually attend the presentation on the 7th? I was unable to attend.
Interesting looking Annual Growth Rate (CAGR)
https://www.globenewswire.com/news-release/2023/08/10/2722837/0/en/Edge-Computing-Market-worth-111-3-billion-by-2028-growing-at-a-CAGR-of-15-7-Report-by-MarketsandMarkets.html
Dartron, you placed everything on Red and Black came in. The last shorter in town exits stage left, wounded and more than a little bitter
What are they planning a stock consolidation? 4 for 1! ha ha. I think it closes that gap from today, struggles to break 30p. Multiple opportunities to trade this for 10%. Not one to hold for reasons I have stated at great length. See you all soon.
Back to £1 hopefully, just patience.
Odd you were saying how Dartron made such good sense a while ago so did you sell on the spike
Dartron, I believe the only quick in and out for you, is with a woman, good luck with extracting any reaction!
Scarfell, I am sure there are a lot underwater here, hopefully your wait will pay off, but you know how the market likes to play, it’s nearly like reverse psychology… anyway I am putting a 70p target that is around half the analyst consensus target of 143.75p! Gl
Best way is in and out quick, 26p to 29p. That's the only way I can see to make money here. Some more money extracted from here, whilst enjoying the bants.
It's starting to feel as though this might gain quite a lot in the next few months - but I'm so much underwater that I struggle to put that behind me.
Well that was a nice little spike :)
Personally I am surprised this move didn't come sooner. BATM has had multiple positive headlines over the past few weeks with little reaction from the SP. It was only a matter of time before investors began to notice fundamentals improving and SP motionless. Patience will definitely pay off with BATM!
Good move, and good luck.