Initial Equity Trading Comments - 15 May 2023

Cenkos: Solid State Plc -- Solid Supply Chain

Solid State has a track record of delivering consistent growth in revenue and earnings, supported by secular organic growth drivers and a successful strategy of targeted acquisitions. We examine the customer industries, the company's technology specialisms and the financial performance drivers. Solid State is well positioned to continue delivering growth and shareholder value creation over the medium-term. We initiate coverage with a BUY.

Morning Note – 11 May 2023

AGM update; benefitting from geographic diversity

Portmeirion has issued a brief AGM statement covering the traditionally quieter period of the year. Progress has been made YTD with geographical diversity and self-help being supportive features we understand. Overall, the expectation is for a flat H1 performance, which in the context of a challenging consumer backdrop would be a creditable outcome. We note USA has been singled out as showing customer caution in recent weeks re ordering and will need to be closely monitored over Q2. With c.80% o

Successful refinancing

Portmeirion+ (PMP, House Stock, 508p) - No changes to forecasts on AGM statement

Portmeirion+ (PMP, House Stock, 418p) - Appointment of Non-executive Director

LSE AIM - Market Screener (30 May 2023)

 The market capitalization of AIM stocks was £95.9bn as of 26 May 2023, down 3.7% since 14 April 2023. Among the top YTD winners, there were Celadon Pharmaceuticals (up 216.6%), Vast Resources (+325% YTD), B90 Holdings (+212.4%), Verditek (209.1%, MktCap £7.5mn), Star Phoenix Group (+175%), Inspecs Group (+166.3%). Among the bottom movers, were companies canceling admission to AIM: Applied Graphene Materials (-88%,), Circle Property (-93%, MktCap £1.2mn), Purplebricks Group (-93.1% on a possi

Cenkos: Seeing Machines Ltd -- Strong aftermarket KPIs

We believe Seeing Machines quarterly Key Performance Indicators for Q3/23E show the company looks to be on track to meet our overall FY23E expectations. Whilst the vehicles produced with Seeing Machines DMS technology for Q4/23E needs to step up to meet our latest FY23E forecast, we believe the overall OEM division is performing strongly. Also, the Aftermarket division looks to be on track to exceed our monitored connection forecast and, with product availability continuing to increase, we exp

A reassuring trading update for investors

The trading update was well-received by the market, something which was evident in a notable increase of approximately 0.90% in the stock price during midday trading. The confirmed outlook provided reassurance in light of the disappointing performance in the US. However, we expect the prolonged absence of share buybacks to exert downward pressure on the share price in the near future.

N Brown Group+ (BWNG, House Stock, 27.5p) - Focused on strategy, financials in-line

Morning Note – 9 May 2023

Gooch & Housego - Interim results, recovery and strategic review

Results show a strong pick-up in revenue reflecting growth in all markets as well as a progressive pick-up in operational capacity. The order book remains strong although the normalisation of customer ordering patterns has lessened order intake recently; the group has strong enough H2 order coverage to reiterate full year expectations. The CEO’s strategic review aims to return the group to mid-teens margins and we see significant profit and cash gains from a sharper focus on operational delivery

Hybridan Small Cap Feast - 22 Feb 23

22 February 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objec

Hybridan Small Cap Feast - 06 Jun 23

6th June 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv