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Currently online you can only buy a maximum 3k shares at 71.95p, whereas you can sell 15k shares at a big premium to the 71p bid at 71.55p. Encouraging.
I added more yesterday - can't see the share price being at present levels for long.
Singer Capital Markets have updated - they say Buy and have a 97p target price.
They forecast 6.76p EPS to this September, rising to 7.68p EPS and 8.61p EPS.
The £1m cash pile also rises to £2.6m and then £4.6m.
Since H1's EBITDA is already 53% of their forecasts, even before the recently RNS'd contract wins, it's highly likely imo that REAT will beat expectations this year.
Especially with over 85% recurring revenues and improving margins.
Singer conclude as follows:
"Contract win momentum continues The Company has continued its drive on new business, with three recently announced material contracts totalling over £1.3m of revenue p.a. In addition, it continues to be awarded numerous small and medium sized wins which highlights its cross-selling capability. The pipeline for the remainder of the year remains robust which provides the Board with confidence over full year expectations".
Goliard has posted elsewhere that CSSG have received the first £500,000 of the additional £5.8m Vigilant sale proceeds:
"Just to say that I have received confirmation from CSSG that that the first payment of over £500k was received on 28 March."
Peel Hunt have a 1035p price target and say Buy:
Https://www.proactiveinvestors.co.uk/companies/news/1045922/accesso-s-showare-product-adds-another-layer-to-equity-story-says-peel-hunt-1045922.html
"Accesso’s ShoWare product adds another layer to equity story, says Peel Hunt
Published: 14:03 23 Apr 2024
Analysts at broker Peel Hunt see clear benefits to accesso Technology Group plc’s equity story after bringing its ShoWare software as a service (SaaS) ticketing suite to the UK.
“This scalable solution has already proven itself, with over 600 venues around the world using the service, and allows venues to manage the end-to-end ticketing process, whether online or onsite,” noted Peel Hunt.
The broker added: “Alongside accesso's ability to build long-term relationships and its established relationships with UK venues, today's news should be viewed as a positive addition to the accesso equity story.
“Features include seamless online/mobile sales, white-label capabilities to retain a client's brand, dynamic pricing to optimise ROI, and CRM features to build customer loyalty.”
Analysts slapped a buy rating on accesso stock following this announcement, with a target share price of 1,035p."
As I write you can buy 500,000 shares online at the 3p bid price!
Looking on the (relatively) optimistic side, perhaps there's a fund dumping as its holding is now so immaterial.
At the current £10m m/cap the risk/reward is certainly better than it's been for a long time for newbies. So it all depends on your view on that risk....or the apparently substantial rewards which could accrue if SCE ever actually their machinery running properly and start delivering on those humungous contracts.
I like this:
"Getech’s valuation has come down in recent years, mirroring the trend in the oil and gas sector, since we were heavily focused on this sector. This means that now is a good time to make an investment in the company, buying at a very low share price and at an inflection point as we have already gone through the pains of redeveloping our services and making them applicable to the energy transition. In 2022, 66% of our revenue came from the O&G sector, and the rest is from minerals and geothermal. My goal is to increase our business from green industries and bring the ratio to least 50% - this would place us under the Green Economy Mark, which recognizes London-listed companies deriving half or more of their revenues from products contributing to the green economy."
Https://www.gbreports.com/interview/richard-bennett
"In his latest interview, CEO Richard Bennett discusses how leveraging our extensive geoscience data and AI capabilities enables us to locate subsurface resources essential for the energy transition. Dive into the full interview to also learn about new search spaces and risk/reward strategy in the minerals exploration"
Dowgate Capital have retained their Buy and 100p price target.
They forecast 6.9p EPS to this September,rising to 8.1p EPS and then 9.0p EPS, though they state that even these are based on conservative assumptions.
The £1m cash pile at September rises to £3.1m and then £5.1m. Though it's likely that there'll be more earnings-enhancing acquisitions by then.
In summary:
"Positive 1H momentum shines through.
React Group has released a positive update that has confirmed that the strong 2H 2023A momentum has continued into 1H 2024E, with what was described as a ‘record trading performance’. The Board has reported good sales growth in all three divisions of the business, with the statement commenting that the Board has ‘a high degree of confidence in achieving full year market expectations.’ We have left our FY 2024E forecasts unchanged at this point. These assume FY +9% revenue growth, but in our view, there could be an accent on the upside as the year progresses, following 1H revenue growth of +14%, and contract wins that should benefit 2H and next year. We retain our Buy stance with a Target Price of 100p. This still conservatively assumes the Group achieves c60% of its medium term cashflow target, and we reiterate again, it also does not include any potential value enhancement from deploying the Group’s firepower on acquisitions."
"We retain our Buy stance with a 100p TP. We value React Group using the EVA®/MVA valuation method. This derives a share price of 100p assuming only c60% of the medium-term goal of £5m p.a. of free cashflow generation is met. It could outperform that, and we highlighted in our 9 April initiation research, that we believe the Group has firepower to enhance."
A terrific H1 trading update today, which strongly suggests that REAT will beat expectations for the year.
With H1 EBITDA up 36% year on year to £1.3m, REAT have already achieved 52% of the £2.5m consensus forecast, even without the substantial contract wins already announced this year.
Other highlights:
- recurring revenues remain above a huge 85%
- the cash pile is now up to £1.5m, against a £14.8m m/cap
- margins are increasing fast given revenues up 14% and EBITDA up 38%
No wonder there's "a high degree of confidence in achieving full year market expectations" - and much more imo.
On a current year ex-cash P/E easily in single figures REAT looks in great shape for a re-rating:
Https://uk.advfn.com/stock-market/london/react-REAT/share-news/React-Group-PLC-Trading-Update/93710572
Crikey, even INSE's joining in today's small cap rally....about time. Loads of upside here for a fair valuation imo.
As a reminder, Liberum recently issued a new 36 page Buy note, with a 200p price target....
Here's their summary:
"Inspired Plc
The transition to a more diversified business is on track
The FY 23 results were slightly ahead of our estimates. We make four key points on the business: 1) Inspired has evolved from a Third-Party Intermediary (TPI) in the energy market to a technology-enabled services provider; 2) synergies between divisions help cross-selling and make Inspired uniquely qualified to help with both sides of the energy equation (cost + consumption); 3) underlying EBITDA is expected to double in five years (FY 22-27), indicating 24% upside to our FY 26 estimate; 4) the business is becoming less reliant on Energy Assurance profits, which helps increase earnings quality. In terms of valuation, a CY 24 P/E of 4.6x is attractive given the growth.
Key points
FY 23 results were slightly ahead.
Optimisation was the star performer.
Net debt (exc. leases) was flat at the H1 23 level of £49m.
Contingent consideration being paid.
Value drivers
Scope to grow in areas like Optimisation, Software and ESG.
These should accelerate growth and increase the valuation multiple.
A huge addressable market.
Very encouraging info posted elsewhere (by Celeritas) about the new license and distribution deal in the United States for Gelclair and VLG's partner Jaguar Health.
Jaguar Health is expanding its focus to include cancer-related supportive care, with Gelclair being a foundational element in this strategy.
Https://in.investing.com/news/jaguar-health-names-new-svp-of-growth-strategy-93CH-4133486
Jaguar's stock rocketed 44% "after the pharmaceutical company announced a new license for a chemo mouth treatment", i.e Gelclair:
Https://investorplace.com/2024/04/why-is-jaguar-health-jagx-stock-up-44-today/
And:
Https://jaguarhealth.gcs-web.com/news-releases/news-release-details/jaguar-health-appoints-biopharmaceutical-industry-veteran
Https://www.proactiveinvestors.co.uk/companies/news/1045809/accesso-has-50-upside-according-to-broker-1045809.html
"Accesso has '50% upside' according to broker
Published: 13:34 22 Apr 2024 BST
Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF) should see positive margin impacts emerging from a focus on higher-quality revenue streams, says house broker Shore Capital.
“The market opportunity appears promising spanning across various venues and geographies, and we see ACSO as well place to capture a greater share through leveraging its now broader solutions suite”.
“We do not believe the current valuation reflects these positive trends, noting our fair value sees +50% upside on a low/mid-teens EV/cash EBITDA multiple,”
'Buy' is the broker’s recommendation for the virtual ticketing and queuing specialist."
New appointment - interesting detail about the new AI-enabled safety tech:
Https://news.railbusinessdaily.com/petards-rail-bolsters-team-with-new-appointment/
"Petards Rail bolsters team with new appointment
April 22, 2024
Leading provider of intelligent train technology, Petards Rail has appointed Calvin Fahey to the role of procurement manager.
Calvin is Level 3 Chartered Institute of Procurement and Supply (CIPS) certified and brings with him near a decade’s worth of experience within procurement-related roles.
In his role at Petards Rail, Calvin will spearhead the company’s procurement team and processes, ensuring the timely and cost-effective acquisition of materials and services.
Petards Rail designs and delivers train technology to help companies within the rail industry maximise passenger safety, optimise train performance and meet ever increasing passenger and industry demands. Its technology includes forward facing and rear facing cameras, track debris cameras, an on-train camera/monitor system, Automatic Selective Door Operation, interior cameras and pantograph surveillance cameras. In addition, the company offers supporting services and a back-office software, eyeTrain Connect.
In the latter half of 2023, the company launched its PTeye solution which, incorporating the latest in AI-ready technology, was developed to prevent trap and drag incidents before train dispatch and, as a secondary safety measure, to detect drag.
At this time, the company also strengthened its team with the appointment of Jack Teichman to the role of rail engineer. An experienced mechanical design engineer, Jack joined Petards Rail having held a breadth of engineering roles such as product engineer, configuration engineer and outfit engineer, across a variety of industries including defence and electricals.
Speaking of his appointment, Calvin said: “I am thrilled to join Petards Rail as procurement manager. The company’s commitment to customer service and developing high-calibre intelligent rail solutions, made it an easy decision.
“I enjoy using data to inform continuous improvement, be it cost reductions, optimising supplier relationships or implementing more efficient procurement processes. I am looking forward to applying this in my role at Petards Rail and contributing to the success of a dynamic company.”
Victoria Hodge, general manager of Petards Rail, said: “I am delighted to announce the addition of Calvin to the Petards Rail team. His wealth of expertise and dedication to quality and continuous improvement align perfectly with our company values.
“It is an exciting time for Petards Rail marked by our recent win at the SPOTLIGHT awards and the launch of our new lifesaving technology. It is great to have Calvin on this journey with us.”
With decades of experience in the rail industry, Petards Rail has worked with organisations throughout the sector, from rolling stock companies to train operators