Member Info for rivaldo

Shore Capital retain their 80p target (almost 100% upside), plus their forecasts of 4.5c EPS and $9.3m net cash. Apart from noting the detail of today's contract win they summarise:

"Most importantly, in our view, new business wins are expected to drive revenue growth in the remainder of FY24F and future years giving us confidence that our forecasts will be achieved. Moni Borovitz, CEO, said: "This order is the result of the success of our design wins in recent years. It includes several components that were designed by our team as part of a customer’s solution and we are now seeing the benefit from this customer’s success in the international market.” We would therefore expect to see further contract wins across the group in due course.

Outlook and valuation:

We made no changes to any of our group forecasts on the back of the H1 results. We were encouraged by the improved EBIT margin for Mottech in H1 and the confidence that Antennas and Summit continue to be well-placed to deliver improved profitability as FY24F progresses, which today’s news helps to demonstrate.

We continue to believe that each of the divisions has growth drivers with, in our view, Mottech particularly well placed to potentially see stronger demand than we forecast. as its software improves the efficiency of irrigation systems, while reducing the cost of operating them. We also expect to see good demand for the defencerelated products and services of Summit/PSK. Finally, the Antenna division is also likely to benefit from increased defence spending as well as the rollout of 5G across the world. We maintain our 80p fair value on the basis of a DCF analysis, which is corroborated by MTI achieving an FY24F EV/EBITDA multiple of 12.8x (the average of our peer group)."

Nice start to the week, with a 1.5p rise after just a 1k buy. Evidently stock remains in extremely short supply (unless there's a delayed buy trade yet to be reported).

Nice - a large €2.6m contract win for radio frequency components to the defence sector:

Https://uk.advfn.com/stock-market/london/mti-wireless-edge-MWE/share-news/MTI-Wireless-Edge-Limited-Contract-Win/94472869

Intriguing move today to cancel the share premium account to create reserves "to make distributions to shareholders in the future", i.e dividends.

A standard move for companies with positive prospects, with no negatives for shareholders, but not usually for a company in NTQ's current position. Hopefully a sign of strong confidence from current management (cynics might say a tad premature!) and that news to come will be significant...

Https://uk.advfn.com/stock-market/london/enteq-technologies-NTQ/share-news/Enteq-Technologies-PLC-Notice-of-AGM-and-Proposed-Capital-Reduction/94465433

Work begins at Giffnock station as part of £140m enhancement project:

Https://news.railbusinessdaily.com/work-begins-at-giffnock-station-as-part-of-140m-enhancement-project

And major £3m renewal works to begin on 128-year-old Killiecrankie bridge:

Https://www.newcivilengineer.com/latest/network-rail-prepares-for-3m-perthshire-bridge-replacement-12-08-2024/

more potential good news in the future.

Finally, hopefully more good news coming soon from Scottish Water, which puts firms on alert for a huge £6.3bn framework:

Https://dlvr.it/TCD3c8

Canaccord have this morning initiated coverage of BMS, with a Buy and a 410p target.

The 34 page research note is headed "All aboard for the 'super cycle'.

The portfolio is certainly picking up the pace., with Pulsiv, Raman, Fieldwork, Nandi, CamGraphic and Alusid all developing very nicely.

Fieldwork Robotics have just announced their new model and updated on growing sales and successful trials:

Https://fieldworkrobotics.com/fieldwork-robotics-launches-new-robotic-model-fieldworker-1-and-establishes-collaboration-with-costa-group/

This augurs well - hopefully a big valuation uplift:

"This relationship with Costa signals continued and growing interest in Fieldwork’s technology from customers across the globe. With a healthy customer pipeline secured, Fieldwork is currently on track to begin its Series A fundraise in 2025"

Excellent coverage in the Guardian:

Https://www.theguardian.com/technology/article/2024/aug/26/improved-version-robocrop-only-picks-ripe-raspberries

400,000 of buys at 2.05p in two 200k trades just reported late (from Friday). Good to see.

Yep, today's update reads very well. I particularly like the expansion of the £400k contract to around £700k in the current financial year.

And it sounds like the initial testing of AurTex has gone well given that "further data is now being shared".

With well over £3m net cash against the £6.7m m/cap RUA are in a terrific position funding-wise and are making obvious progress towards much improved numbers via growing revenues and reduced costs.

More good news, this time from Nandi Proteins, which I'm glad to see continuing to progress.

A £500k convertible loan is to be followed by a £1m funding round, to suport the egg white replacer product.

Hopefully the funding will be at an uplifted valuation on the back of news of the successful final testing of the meat/fat replacer with the "leading global food ingredients business".

Another tick up today - looking like we could see new recent chart highs soon.

After what looks like a a 10k buy at 100p. Good to see the spread is nice and small at 100p-105p too.

News from Cambridge Raman Imaging from 12th August not posted here before - looks like a very successful exhibition in Italy:

Https://www.cambridgeramanimaging.com/cri-shines-at-icors-2024-in-rome/

"CRI shines at ICORS 2024 in Rome

Aug 12, 2024

CRI marked a significant milestone in its journey by making a strong impression at the 28th International Conference on Raman Spectroscopy (ICORS).

ICORS, held in Rome from July 28 to August 2, 2024, is a premier global forum that gathers leading experts, researchers, and industry pioneers to discuss the latest advancements and applications of Raman spectroscopy, a powerful technique for molecular identification and chemical analysis.

At ICORS 2024, CRI showcased its cutting-edge technologies through several key presentations, emphasizing its leadership in the field of coherent Raman microscopy. CRI’s innovative solutions were highlighted in both technical and scientific sessions, demonstrating their potential to revolutionize biomedical imaging and chemometric histology.

Dr. Matteo Negro, CEO from CRI, presented the talk titled “Multiplexing Stimulated Raman Microscopy for Biomedical Imaging and Chemometric Histology” where he introduced CRI’s pioneering multiplex SRS systems, including the STRALE laser source and the CHAMP detector. These technologies, integrated into the CORAL imaging system, represent a significant leap forward in acquiring the entire coherent Raman spectrum in a single shot, offering unparalleled sensitivity and speed for bioimaging applications. Later the same day, Dr. Negro delivered another insightful presentation on “A Plug-and-Play Broadband Coherent Raman Platform,” which focused on CRI’s innovative broadband stimulated Raman technology and its significant impacts in the area of histopathology.

Adding to the prominence of CRI’s presence, Prof. Giulio Cerullo, a scientific advisor for CRI, delivered a plenary lecture focusing on techniques that combine the speed of coherent Raman spectroscopy with the detailed molecular information of spontaneous Raman. His discussion on the development of commercial broadband SRS microscopes, particularly those aimed at clinical applications such as tumor identification, underscored CRI’s commitment to pushing the boundaries of medical diagnostics.

CRI’s technologies were also featured in a presentation by Dr. Tobias Meyer from the Leibniz Institute of Photonic Technology, in which the CRI laser and detector systems were showcased as part of collaborative imaging research efforts applied to disease diagnosis. This collaboration highlights the growing recognition and adoption of CRI’s technologies in academic and clinical settings, further validating their potential to transform the field of biomedical imaging.

etc"

Good to see the share price bouncing.

I note that Long Path Partners have been buying more - they now own over 16% with almost 6.7m shares:

Https://uk.advfn.com/stock-market/london/accesso-technology-ACSO/share-news/Accesso-Technology-Group-PLC-Holdings-in-Company/94410571

There's also news of a partnership with the Philadelphia Museum of Art:

Https://www.prnewswire.co.uk/news-releases/accesso-powers-virtual-queue-for-the-philadelphia-museum-of-art-cassatt-exhibit-302225746.html

"accesso® Powers Virtual Queue for The Philadelphia Museum of Art Cassatt Exhibit

20 Aug, 2024

ORLANDO, Fla., Aug. 20, 2024 /PRNewswire/ -- accesso Technology Group (AIM: ACSO), the premier technology solutions provider for leisure, entertainment and cultural markets worldwide is thrilled to partner with the Philadelphia Museum of Art (PMA), to use the award-winning accesso LoQueue® virtual queueing system for the highly anticipated exhibition Mary Cassatt at Work. This project follows a history of work between accesso and the Philadelphia Museum of art going back to 2014. This latest endeavor promises to enhance the visitor experience by eliminating long lines, enabling guests to explore the museum while waiting to view this important collection of works by the celebrated Pennsylvania-born artist.

etc"

Good to see a 0.5p move up after a 25k buy just now. Perhaps not much stock around.

Allenby have also issued an update, with a 75p fair value. They estimate 4.56c EPS and $8.7m net cash this year and summarise:

"Solid H1; encouraging signs in Q3

Solid H1 from the technology group focused on comprehensive communications and radio frequency solutions, with each division (Antennas, Mottech and MTI Summit/PSK) remaining profitable. Group revenue was flat at $22.3m but there was good growth in EBITDA (+18% to $3.3m), reflecting a more favourable business mix and cost control, and cash remains strong at $5.5m (FY23: $8.8m), following the FY23 dividend ($2.7m) and share purchases ($0.6m). This latter facility has been increased by £0.3m.

Q3 has started well with demand for products remaining high and enquiry levels for future projects at an all-time high, largely relating to the global defence sector. There are also encouraging signs for Mottech, particularly in Europe, and there is good interest in MTI’s 5G backhaul antenna solution, although the timing of contracts here remains unpredictable. The domestic situation remains challenging but our unchanged forecasts assume a return to revenue growth in H2 and we retain a 75p/share fair value."

"Outlook: Product demand is high and enquiry levels at record levels. Q3 trading has been positive, and MTI remains hopeful of securing material contracts in H2."

Shore Capital have an 80p valuation, and forecast 4.5c EPS and $9.3m net cash (against a £32m m/cap) this year. They summarise today's results as follows:

"MTI Wireless Edge (MTI), the technology group focused on comprehensive communication and radio frequency solutions across multiple sectors, has announced H1 results for FY24F.

The group delivered an 18% increase in adj. EBITDA to US$3.3m (vs US$2.8m in H1 FY23A) on flat revenues of $22.3m. Adj. PBT was up 9.8% at $2.3m ($2.1m) and adj. EPS increased by 8% to 2.14c (1.99c). Net cash at end-June 2024 was $5.5m vs $8.3m at the end of March 2024, reflecting the $2.7m payment of the 2023 dividend and the share buyback of $0.6m in the period. We view the expansion of, the buyback programme to £1.0m vs £0.7m from this week as a sign of management’s confidence.

Most importantly, in our view, new business wins are expected to drive revenue growth in the remainder of FY24F and future years giving us confidence that our forecasts will be achieved."

"Outlook and valuation: We make no changes to any of our group forecasts on the back of the H1 results. We are encouraged by the improved EBIT margin for Mottech in H1 and the confidence that Antennas and Summit continue to be well-placed to deliver improved profitability as FY24F progresses.

We continue to believe that each of the divisions has growth drivers with, in our view, Mottech particularly well placed to potentially see stronger demand than we forecast. as its software improves the efficiency of irrigation systems, while reducing the cost of operating them. We also expect to see good demand for the defence-related products and services of Summit/PSK. Finally, the Antenna division is also likely to benefit from increased defence spending as well as the rollout of 5G across the world.

We maintain our 80p fair value on the basis of a DCF analysis, which is corroborated by MTI achieving an FY24F EV/EBITDA multiple of 12.8x (the average of our peer group)."

Https://www.proactiveinvestors.com/companies/news/1054534/shein-calls-temu-a-massive-counterfeiting-and-infringement-machine-in-damning-lawsuit-1054534.html

"accesso has ‘robust’ balance sheet to ride out Middle East delays - analyst

Peel Hunt retained its buy rating on Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF) plc stock after the solutions provider to the leisure and entertainment sector adjusted its full-year guidance.

Although certain new projects for Accesso Horizon in the Middle East have been delayed (alongside main customer Six Flags in the US seeing lower recent footfall), Peel Hunt pointed out that accesso “does not perceive increased risk to the overall completion of these projects or their overall contractual value”.

“The group balance sheet remains robust,” added Peel Hunt, with a net cash position of $23.3 million as of 31 July.

Analysts gave the stock a 1,035p price target against a current spot price of 510p."

Https://www.proactiveinvestors.co.uk/companies/news/1054456/accesso-given-vote-of-confidence-following-full-year-guidance-revision-1054456.html

"Analysts at City broker Shore Capital Markets reaffirmed their buy stance on Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF) following a revision to the theme park services provider’s full-year guidance.

accesso tightened guidance to between $150 million and $153 million, down from the $160 million forecasted in April.

This adjustment came in response to delays in specific new park openings and lower-than-expected consumer trading volumes during the peak summer months.

“There has been tough trading across key end markets, in particular, low volumes during July (a peak period), as well as delays to accesso Horizon projects in the Middle East,” noted broker Shore Capital Markets.

“Whilst mindful of this update, we see potential in new international markets, the ongoing consumer digitalisation trend and a model that is comfortably supported by cash,” added analysts.

The broker sees a fair value of 710p per share on the stock, representing a near 40% upside to current trading levels."

Great to see the share price finally starting to move back up - agree that an overhang has probably been cleared.

Given the results already published in India the potential is here for anything from a one-bagger to a four or five-bagger from here in a relatively short timeframe if all goes well and once the rest of the market becomes fully aware of the turnaround in profitability and debt reduction.

Rather good H1 results which make MWE look extremely good value at these levels.

Most importantly the outlook for the year is extremely optimistic. With 2.14c EPS achieved in the usually seasonally weaker H1, MWE are on course to certainly meet and potentially beat the forecast of 4.5c EPS this year:

"Outlook

Demand for our products is high and enquiry levels for potential future projects is at an all time high, largely relating to the global defence sector. Trading in Q3 has been positive so far and we are hopeful of securing some material contracts in the second half of the year. Overall, the business is well placed with good visibility on potential future contracts which will support the prospects for the business into 2025 and beyond."

With the three core drivers for the company being defence spending, water efficiency/scarcity and 5G, prospects will remain bright for many years to come.

Plus the share buyback programme is being expanded to £1m, so this will support the share price further as a sign of confidence going forward.

And MWE are well funded for such growth - they currently have $5.5m of net cash which is forecast to rise to $9.3m at the year end - over 20% of the m/cap by itself:

"Financial highlights

· Revenues level at US$22.3m (H1 2023: US$22.3m)

· 18% increase in EBITDA* to US$3.3m (H1 2023: US$2.8m)

· Profit before tax increased 10% to US$2.3m (H1 2023: US$2.1m)

· Earnings per share increased 8% to 2.14 US cents (H1 2023: 1.99 US cents)

· Strong financial position maintained with net cash standing at US$5.5m on 30 June 2024 (31 December 2023: $8.1m) after payment of dividend (US$2.7m) and purchase of shares (US$0.6m) via the buyback facility during H1 2024

· Expansion of buyback programme effective from 22 August 2024 with increased funding from £0.7m to a maximum of £1.0m"