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Indeed the 200p purchases are looking great. on its way to £3 but bottom in.
Plenty of upside and dividends.
Nice reaction to the news this morning. The SP needed something to change the sentiment. Hopefully the start of a big bounce up. GL
There we go. Thank goodness the market has reacted well I needed some relief here.
Some relief for holders. Hopefully we'll see the rise we expected now we've confirmation that things are going fine and even better than that. In auction at the moment.
There's a suggestion on ADVFN that the selling is related to funds dropping their positions as HTG will be relegated from the FTSE250. That could explain the fall.
So just to clarify this, the company is forecasting Ebitda of 88 million this year, debt is not that big in the grand scheme of things, dividend to increase this year, and the market has a Mcap of barely 300 million.
The volume is very low, its getting moved on double digit sells.
Could be one of those stocks that has very few PIs to counter the algo trades.
JG68
I am with you. Have been adding on the way down and added another tranche at 201p near the close. Not at all comfortable for you either but no pian no gain.
At some point the bleeding will stop and a sharp uptick.
Could go to 150p or £3+.
Here's to better days ahead.
JG68, that thought came from something I read on Morningstar. At the time, and I've not checked back, they had 2 weaknesses that held them back from rating HTG as having significant upside. One of them was their financial position. You'd have to go back to that source material to understand it better. But from my own perspective, this SP drop is unusual. Perhaps, as I stated earlier, this is simpley related to lower gas/oil prices leading to reduced activity in their bread and butter sectors, but it's a big drop. I guess there could be an expectation of further drops in POO & G, but G is pretty low at the moment and POO is now below it's multi-year average. I have to say I did not expect the SP to hit 200.
Problem is Mary every time I average down it drops further.
Very much regretting getting sucked in at the moment.
SP performing like the TU was a profit Warning not an earnings beat.
Head scratching here
JG68
Just keep averaging down when the sale is still on. It will end soon enough.
Excuse my ignorance but why would a fund raise be needed?
I have just reread the April TU below again and seemed more like an upgrade. Is it because of the net debt expectations 30-50 million?
Even stockepedia have a book value in excess of 500 ps.
EBITDA in Q1 2023 was $22.6 million, which compares to $6.7 million in Q1 2022 and $15.8 million in Q4 2022. EBITDA margin has strengthened in the reporting period driven by higher facility utilisation and some improvements to pricing, and is in line with market guidance of c.10% for the year as a whole.
As previously indicated, working capital has increased in the quarter consistent with the ramp up in activity, with the Group moving into a net debt position in the period. Working capital is expected to peak during H1 2023, with net debt in the range $30m - $50m targeted by the end of June 2023, followed by cash generation in H2 2023, with management targeting positive cash and bank by year-end. The final dividend recommended for 2022 of 4.5 cents per share is due for payment on 12 May 2023, which will absorb c.$7.2 million.
Thanks CL, Something not quite right with the SP. I'm hoping it's just that the rig count is dropping suggesting activity in the sector is not as robust at the current POO. I'm hoping it's not a fund raise.
Can't really say but just clerical
Yes, the liquidity is a problem. Worries me a bit as I have quite a few. When you say 'finance staff' what kind of roles are you describing?
There's no liquidity in the shares. Hunting family own a chunk. So it's beta is high and would cause greater SP swings both ways than the market. Personally it hit 188p or so last year and I'll be looking to buy back in if it touches 200p. Anecdotally our office in Aberdeen says HTG been poaching our staff. This would be finance staff and they are obviously still recruiting or bleeding staff the other end. Who knows.
I know oil has declined but down 20% from upgrading earnings I just don't get?
Anyone any insight into why?
Agree this is cheap as chips and when it moves it moves fast . Trading update in a few weeks and I am hoping for good things , based on last update and broker views and thoughts . Happy to hold until update and let’s hope it is as good as hoped
added - seems a bargain
Ex-div today
Well, that's come off a lot harder than I expected so happy not to have rushed to add back.
And they wonder why no one wants to list in this farce of a market anymore.
Well received so far. I could easily imagine a fall back to 242/243 area. If that happens, I'll add back what I previously sold, maybe a bit more. Otherwise I'll stick with what I have.
Yep agree cta which says to me they are quietly confident of beating expectations this year but too early to commit to that atm. This one needs patience but will come good later in year imo
Better start to the year than expected but not changing previous full year guidance, that's what saying