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..... has been published on the CyanConnode website:-
http://cyanconnode.com/investors/analyst-research/
LTI.
Hi LTI
Thank you for alerting us to that.
Per Zeus:-
"Worst price performance: CyanConnode (-27%) did not have any new(s?) flow in the month and their shares remained illiquid."
From the report:-
" CyanConnode provides end-to-end communications modules and platforms that connect smart meters to a utilities billing system. The company is a market leader in India, where the government's Revamped Distribution Sector Scheme ( RDSS ) mandates the procurement of 250m meters by March 2025. 198m RDSS-related meters (222m total ) have already been sanctioned and 88m RDSS-related meters ( 108m total ) have been awarded. We expect these large numbers of sanctioned and awarded meters to lead to significant sub-contracts for CyanConnode over the coming months, supported by its high win-ratio in India of approximately25% by volume. As a result, revenue is expected to grow 61% CAGR 2023-2025, resulting in EBIT multiplying from £2.8m in 2024 to £9.7m in 2025, based on calendar year FactSet consensus estimates. Despite the company's high growth profit potential, shares trade at only 9.5x EV/EBIT for calendar year 2024."
So an encouraging forecast for potential growth I feel, over the next couple of years, with additional potential order growth, also, to add into the mix.
Good Luck all.
LTI.
Am I correct in saying that they have shifted their reporting dates from say 31/03/2024 & 31/03/2025 to 31/12/2024 & 31/12/2025?
When I say 'they', I mean Zeus.
Why not be consistent and stick to the same reporting dates when it comes to their estimates? It's fudge after fudge.
What's wrong with a bit of honesty/transparency?
Hi ITT.
If you expect honesty and transparency from this lot you will have a long wait.
With all the promises of jam tomorrow its certainly not reflected by the share price. A 27% drop doesn't lie. I fear something bad is about to hit but it won't hurt this joke of a BOD you can be sure. The most worrying thing is they seem unable or unwilling to manage the substantial drop in the SP. The word incompetence springs to mind.
...... from the beginning of the Zeus report:-
" This month we screen for tech companies with the highest EBIT growth. Calnex, Xaar, CyanConnode and Corero Networks Security, offer the potential for 2025 EBIT to 24x, 7.3x, 2.5x and 1.6x, respectively. Among these, we highlight Corero Network Security, for its high revenue growth, operating leverage and cash conversion and CyanConnode for its high revenue growth and attractive valuation. We review sector performance as well as best and worst price performers further below."
The last paragraph from the report gives some more information and discloses the reasons for the Zeus Monthly Sector Update:-
" Worst price performance:- CyanConnode ( -27% ) and Calnex ( -26% ) did not have any news-flow in the month and their shares remained illiquid. CMI. Micrisystems ( -24% ) disclosed that core shipments were lower than previously expected due to extended de-stocking in the sector. Ensilica ( -19% ) raised £1.1m at a significant price discount at the end of February. Smarttech247 ( -18% ) shares fell from a recent high at the beginning of the month."
So the Zeus small-cap technology sector update seems to put the recent drop in the CyanConnode share-price down to CyanConnode " ...... did not have any news-flow in the month and their shares remained illiquid."
Not forgetting of course, it is the end of the Financial Year when some investors move their money around, which can make it an ideal buying opportunity for others. So let's hope that the CyanConnode " news-flow " situation is a bit more cheerful, over the coming days/weeks/month's.
Good Luck all.
LTI.
Wonder if Zeus know anything about CC's % Gross Margin going through the floor yet.