The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Not much reduce in shorting still outstanding @ 4.50 %
https://www.shorttracker.co.uk/company/GB00B0H2K534/
S/b around 85 pence. Just one hour left . Monday new CEO released the RNS gives some guidance for sure.
I think losses calculation only on last shorting amount. Which I didn't thinks it is correct calculation because shorting increased or decrease different price.
Just check this link
https://shorteurope.com/details_company.php?company=PETROFAC%20LIMITED&land=united_kingdom
Petrofac, Hitachi Energy awarded €13bn agreement by TenneT
Thu, 30th Mar 2023 07:24
(Sharecast News) - Petrofac shares rocketed on Thursday after it said that it and Hitachi Energy had been awarded a €13bn framework agreement by Dutch-German electricity grid operator TenneT.
The agreement, which is the largest in Petrofac's history, covers six projects. Each project comprises the engineering, procurement, construction and installation (EPCI) of an offshore high voltage direct current (HVDC) transmission station, onshore converter station and associated infrastructure.
The framework agreement was awarded as part of TenneT's 2 gigawatt high voltage direct current offshore wind programme.
Petrofac said each project will be executed under a standalone contract valued at more than €2bn, split approximately equally between its and Hitachi Energy's scopes.
Chief executive Sami Iskander said: "Today's announcement represents an exciting next step in Petrofac and Hitachi Energy's collaboration. We have already secured key resource and the yard capacity required to expedite the first two projects in TenneT's ground-breaking programme.
"By combining Petrofac's industry-leading EPCI expertise and Hitachi Energy's well proven technology, we look forward to supporting TenneT to connect larger, more effective wind farms to deliver affordable clean energy for millions of European homes."
At 0810 BST, Petrofac shares were up 54.9% at 75.99p.
Derren Nathan, head of equity research at Hargreaves Lansdown, said: "We are impressed by Petrofac's continuing move into New Energy with oil-field services having underperformed of late. How the financial spoils are divided remain to be seen, and we would like to see more details on contract margin which has been an issue in recent times.
"Nonetheless today's news should bring some cheer to shareholders who have seen the share price halve over the last six months."
Https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=PFC.L
FYI
Warning for short seller
CFD
"There are a lot of CFD short positions that dont involve borrowing shares...they do however initiate selling of shares....these get closed by buying shares at the lower prices
I suspect a lof of the Investment banker traders have placed CFD shorts"
One things is sure any movement in Share price (Contract Win Or Bid) Either they increased in margin or if the person unable to pay margin they will cut off the deal and asking for the Diffrence. i am having this experinace in past. if you are winner book the profit by way closed the shorting. Now PFC is risky for shorter and shorting hold. As per RSI (14) 19.20
(less then 30 means OVER SOLD)
https://stockcharts.com/h-sc/ui?s=PFC.L
DYOR
I bought few more on my SIPP account after top up @ 50 pence as i know that 25 % gov top up in my fund. So i have taken that risk but now i think it is reasonable
Fingers crossed
Some one ask why dirctors not buying the shares?
thats why i post the remark
DYOR
"They cannot deal in a closed period which is when financial accounts are being prepared. They also cannot buy or sell if there is undisclosed inside information, such as news of a possible takeover or a major contract win or loss. Directors' buys and sells must be reported to the stock market.3 Sept 2020:"
Does any have a view?
https://stockcharts.com/h-sc/ui?s=PFC.L
Over sold
One of the best option is to buy @ this rate. As most of us have taken right issue and from the market. Either we hold losses or buying @ this price to take risk for better return. As we know the shorting is going to be reduced a.s.a.p.
Good luck
That is why share price are down yesterday. Approximately 4 to 5% Shorting shares has been done someone holding that shares and not yet declared.
I think we are on takeover target. After Wood group takeover we are the next in queue
RSI (14) 17.29 ?
https://stockcharts.com/h-sc/ui?s=PFC.L
It is Over Sold ( Means someone collecting shares @ Cheper Rate)
DYOR
https://stockcharts.com/h-sc/ui?s=PFC.L
Today RSI ( 14) 19.82
Technical Analysis: Stocks with Relative Strength Index (RSI) below 30 are considered oversold. This implies that stock may rebound.
When this stock reach @ RSI (14) 30 Below i add few more stock
Fingers Crossed tobe rebound very soon
Good Night