Broker Notes, Comments and Analysis

Broker notes, analysis and comments

Flowtech Fluidpower will come through 2020 in a better position than most says Zeus Capital

The latest trading update highlights that Flowtech Fluidpower plc (LON:FLO) has traded well during lockdown having been breakeven across April and May. This highlights the strength of the model and..

OnTheMarket scale & breakeven achieved says Zeus Capital

What’s new: OnTheMarket plc (LON:OTMP), 65% agent-owned and has almost 40% of independent UK estate and letting agents as shareholders, has released its January 2020 results revealing: +      32% rise..

Serinus Energy strong production transforms cash flow base says Arden analyst

Serinus Energy plc (LON:SENX) is the topic of conversation when Arden Partners Analyst Daniel Slater CFA caught up with DirectorsTalk for an exclusive interview. Q1: Serinus Energy published FY2019 results..

Anglo Asian Mining Small-cap gold miner with bigger-cap prospects

Anglo Asian Mining Plc (LON:AAZ) is a highly cash-generative gold miner from four mines in Azerbaijan, where it enjoys close ties to the government. We estimate current-year free cashflow and..

City of London Investment Group Karpus transaction looks a winner

City of London Investment Group PLC (LON:CLIG) has announced a merger with Karpus Management Inc, a US SEC-registered investment adviser. Based in upstate New York, it is focused on wealth..

Burford Capital Putting fears to rest

Burford Capital Limited (LON:BUR) has announced its results for 2019. As previously indicated, these were lower than in the previous year. Revenue fell 17% from $430m in 2018 to $357m...

Filta Group FY’19 results and COVID-19 update

Filta Group Holdings PLC (LON:FLTA) announced FY’19 results pretty much in line with our numbers. Adjusted EBITDA was £3.2m, vs. our £3.3m estimate, and revenue was £24.9m, vs. our £25.1m..

Real Estate Credit Investments Getting a balanced view on outlook

We believe Real Estate Credit Investments Ltd (LON:RECI) 21% discount to NAV reflects a reduction in investors’ confidence, reflecting the uncertain outlook, security values and potential impairments. When considering if..

Arix Bioscience 1Q’20 portfolio update

Arix Bioscience PLC (LON:ARIX) is a listed global venture capital (VC) company that presents an opportunity for institutional and retail investors to participate in the high risk-return profile of early-stage..

Phoenix Copper Ltd Potential world-class copper-gold-silver mine

Phoenix Copper Ltd (LON:PXC) has consolidated the former Empire mine (which recovered a phenomenal 3.64% copper before WWII suspension), three other former mines and two deposits into a potentially world-class..

Artificial Solutions Conversational artificial intelligence made real

Artificial Solutions (NASDAQ:ASAI) strong operational and financial progress over the past 12 months includes a series of contract wins with major organisations, particularly via a growing base of Tier 1..

City of London Investment Group Handling challenging markets well

City of London Investment Group PLC (LON:CLIG) has announced a trading update for 3Q’20. Market conditions have been challenging for fund managers. With a largely institutional investor base, there has..

Arix Bioscience Resetting the stage

Arix Bioscience PLC (LON:ARIX) is a listed global venture capital (VC) company that presents an opportunity for institutional and retail investors to participate in the high risk-return profile of early-stage..

Surface Transforms High visibility for 2021 onwards; equity raise

Surface Transforms plc (LON:SCE) position as one of only two global manufacturers of a new automotive component – carbon ceramic brake discs – brings major opportunities for investors and the..

UK Housebuilding Sector in 1Q 2020

The Promised Land Red Dwarf, the very British sci-fi comedy franchise, ran for 11 seasons – most recently in 2017; and The Promised Land is a feature-length TV movie – out this..

Arbuthnot Banking Group Plc 2019 results: resilience into the storm

To be resilient in an economic storm, a bank needs three things – low risk assets, strong capital and surplus deposits. Arbuthnot Banking Group Plc (LON:ARBB) has all three. At..

CentralNic Group “Management changes should increase focus on organic growth” says Zeus Capital

CentralNic Group PLC (LON:CNIC) announced several appointments that have strengthened the management team after seven acquisitions over the past two calendar years. We believe this investment in management should form..

Diurnal Group $52.5m US deal strengthens balance sheet further

Diurnal Group PLC (LON:DNL) is a commercial-stage specialty pharmaceutical company focused on diseases of the endocrine system. Its two lead products are targeting rare conditions where medical need is currently..

Chamberlin Trading stalled in these unprecedented times

Chamberlin plc (LON:CMH) recent trading update revealed that trading is stalling in these challenging times. The company, however, is taking appropriate strategic actions. The group has been financially de-risked, and..

Purplebricks COVID-19 update

What’s new. This morning Purplebricks Group PLC (LON:PURP) has provided an “update regarding current trading and the potential impact of COVID-19 and Govt guidance on the UK housing market.” Key points..

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