Share Name Share Symbol Market Type Share ISIN Share Description
Altitude LSE:ALT London Ordinary Share GB00B0LSFV82 ORD 0.4P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 69.50p 67.00p 72.00p 69.50p 69.50p 69.50p 18,500 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 4.3 0.1 0.2 408.8 35.34

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Date Time Title Posts
22/2/201818:55Altitude the only trade you'll need.4,806
08/6/201517:02Alternative Investments-
23/5/201519:47ALT - bottomed out?119
31/7/200913:33Action on iii B Board6

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Altitude (ALT) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2018-02-23 16:23:1370.0010,0007,000.00O
2018-02-23 14:10:0368.603,0002,058.00O
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Altitude Daily Update: Altitude is listed in the Support Services sector of the London Stock Exchange with ticker ALT. The last closing price for Altitude was 69.50p.
Altitude has a 4 week average price of 59.50p and a 12 week average price of 59.50p.
The 1 year high share price is 90.50p while the 1 year low share price is currently 48.50p.
There are currently 50,845,192 shares in issue and the average daily traded volume is 44,232 shares. The market capitalisation of Altitude is £35,337,408.44.
oldmoneyjack: Stephen, the irony of your comment isn't lost, given that you clearly undermine your self proclaimed intellectual high ground by the many comments I have read on this forum whilst researching this stock. You have switched from being very anti to very pro which is your opinion and you're entitled to that. I don't understand however why one feels the need to be offensive towards someone who is simply sharing their very own opinion. I am of course open to hearing factual reasons why this stock has potential, which was my motivation to join this forum. Rob, you are clearly a touch defensive there old boy. Did I touch a nerve with my comment around director dealing? I would be keen to hear your thoughts on why they are astute? This company can silence the doubters with real revenue and real profits, not waffle around addressable market size. Golf is a hugely lucrative sport if your handicap is that of a pro, but a novice's energy and time would be better spent focussing on improving their game, than talking up the money they could (or never) make. Maurice, my research conclusions do not centre around or question the change of focus, clearly a pivot is necessary for ALT given the failing exhibition business. My doubts centre around on the companies ability to execute. Building a business is hard in its own right, but transitioning from a non technology company, to a total technology company is a monumentally complex and expensive. When the MD joined from Vistaprint I started to monitor very closely as it seemed to be a great hire, given his highly relevant and long term experience. Talk doesn't build technology companies, people, money and experienced leaders do. I haven't seen anything that supports ALT have the ability, finance or expertise needed. If they could get these pieces of the jigsaw in place then indeed, there is potential. If not I struggle to grasp why there is any way in which the share price goes anywhere but down.
oldmoneyjack: I have to disagree, I've been closely monitoring this company for two years. The Altitude share price is stationary because there is a lack of liquidity, it artificially spiked in Q1 2017 made possible by shares being closely held over a long period of time, which gives the appearance of stability, it is very easy to inflate but the rapid correction clearly shows that the spike was artificially engineered. If you look at the net holding of the largest shareholder, evidently when he states the reasoning of his large share sales are to satisfy investor demand, it is a cover story, as the factual evidence points towards him attempting to slowly exit, his share sales far outweigh purchases and who can blame him, as the business fundamentals are not impressive for such a long established company. If he believed they would achieve what the company says it will, he would never sell at such a low price. When I have delved deeper into the business fundamentals, it is absurd to claim this business is attractive to the level that would create a rush for new shareholders or encourage existing shareholders to increase their holding. The revenues are tiny, The company has repeatedly failed to deliver on any of the new avenues or partnerships as communicated in RNS updates. This further points to the fact that this company isn't a viable investment opportunity for institutional funds and I would also urge retail investors to tread carefully. This appears to be a company in distress, running out of ideas and in rapid decline.
stephen2010: ALBA currently trading at 0.39p target price 6p making a nice 15 bagger. Please read the following: MARKET CAP PUZZLE ❖ Alba (market cap £8.4m) is in a resources neighbourhood populated with listed companies with much enhanced market capitalisations, such as UKOG.L (£134m) and JAY.L (£172m). With either shared project interests or adjacent tenements to these companies, Alba should trade at a much higher valuation than its current token value. Like Bluejay, Alba owns 100% of its ilmenite project. Direct comparisons with UKOG are also instructive. While both companies own other projects, UKOG’s 49.9% of Horse Hill Developments Limited (HHDL), when compared to Alba’s 18.1% means that Alba has approximately one third of the value of Horse Hill compared to UKOG but only about 7% of the market capitalisation. Once the market recognises these disparities, the room for growth in Alba’s share price is undeniable. VALUATION RATIONALE - Our valuation in this First Equity Limited initiation note uses a risked valuation approach for Alba’s two main projects, at Horse Hill and TBS. The Horse Hill licences are valued using independent published technical data from Schlumberger, Xodus and Nutech on the oil potential of the licences, along with our own assumptions on recovery rates, oil discovery value, resource and development risks factors. From this a risked value of $127m net to Alba on a ‘Base Case’ basis is derived for Horse Hill. Given the similar geology and economic potential of both TBS and Dundas, we have adopted a risked closeology valuation approach, by computing an NPV for Dundas of $223m and then applying a three-tiered risked probability calculation to arrive at a value of $54.7m for TBS. Once Alba announce its JORC resource and exploration target at TBS and Bluejay its Feasibility Study results, this number is likely to be revised upwards very rapidly, possibly up to $200m, representing up to 7p per share in additional shareholder value. We compute a valuation of $185m (£139m) for Alba, equating to 6.0p per share, of which 4.1p is attributed to the stake in Horse Hill, 1.8p for TBS. Given this analysis and wealth of valuation catalysts anticipated across the project portfolio in the coming months, we recommend the shares as a ‘BUY, with a Target Price of 6.0p, representing a potential 15 times plus uplift from the current share price.
thebigshortfella: robbnw - you wish fella! As I said, I don't have a trade running on ALT in either direction. Please note that today's rise had nothing to do with any of ALT's recent RNS's. It will be interesting to see where the ALT share price is in a few weeks. But I am not going to get into a dull and boring argument about it... That said, I am intrigued by SCSW's discussion with Peter Hallett, so will be going long at the right price. Good luck fella.
sheep_herder: Some really strange comments here recently. 1. Why don't they concentrate on Aprinta instead of Channl? Aprinta IS Channl. Channl is the branding for the new business model that Aprinta and other distis are part of. 2. New IT platform? There was a change in business model, not in their software. They've used the same software for years but in a subscription model. The change was getting the printer to fund the cost rather than the end user. I thought that was pretty clear? 3. Why are they suddenly worth 25m? If you run the numbers, you quickly realise that if they can do what they want to do, £10 share prices will be hit very quickly. The issue is that given the lack of understanding, clearly shown on this thread, the share price is going to be volatile until the company starts putting out better comms. I fully expect the share price to take a large hit unless they pull a rabbit out of the hat on results day. The majority of investors are far too short sighted to want to give them the time. I'm not expecting any major progress for at least another 6 months and will be happy to buy back my full stake once the traders have left in a hurry.
lowflow: Altitude is nowhere in comparison to its competition. In an industry which seems to be over established even before Altitude decided to go to this industry. When Altitude decided to go into the “create your own online store for promotional products” they tried to make it sound like they entered into an untapped market. The true is the opposite. If companies in the promotional product industry want to create their online solution there are three key avenues to choose from; 1) Build the online solution from scratch and not use a white label solution. This is probably the most interesting option for the very large promotional products companies. 2) Use a white label store solution from a provider who is offering a solution for all kinds of business, 3) Use a white label solution from an online store provider target the promotional products market where they all can offer supply integration. Altitude is active in the third category. The thing is, its seems like Altitude with its solution is late to the game. Yes, they have announced these great partnerships with AI Masterminds, Aprinta and Market Brands, which doesn't seem to yield anything. To compare where Altitude is positioned in the industry, I quickly screen through some of the competition. Below is a list of companies, providing online selling platforms to the promotional product industry, more or less the exact same solution Altitude is offering. Most of these companies are private so difficult to get revenue figure etc, but it's easy to Google rank figures for their web page giving a very strong indication of their relative position. Altitude A few examples of the competitors who is ahead of The bottom line is that Altitude share price was below 10p, before they told the market that they were going to get into these new businesses. Since then, they don’t seem to have generated any real revenue from the business and they are way behind the competition. The insider has in aggregate been selling since the stock went from low 10sp. This stock will go back to low 10p as they fail to deliver on their new strategy.
thebigshortfella: Webster32 - Yep - that's correct. I am a client of IG's. I just checked again this morning and 9% of IG's clients are short on ALT. It seems nuts to me as any positive news on uptake and it's highly likely that the share price will rocket and they will be unable to cover their positions quickly. I am assuming that these are bear traders who are putting shorts on companies that have risen significantly over the past year and do not understand the short term impact of news etc on the share price. I have noticed a significant number of IG short trades that have started to appear on companies that I watch, where all trades were previously 100%. I hold a trade on Medica and all trades on IG were 100% long for some time. I noticed this week that 8% of trades were short and to be fair those trades would have made them money based on what happened this week. No one is short on Medica now. robbnw - I agree with you. The Henry Joseph-Grant appointment says it all for me. I am sorely tempted to put a trade on ALT (ideally close to 70p). I don't believe that he would have joined ALT if he did not have insight on how well things are going and/or the potential. It's only s gut feel but I suspect that the plan is to get ALT motoring and then to sell it at a premium.
thebigshortfella: Sheep_Herder, An SEO company (it stands for "search engine optimisation") is basically a company that finds ways to cheat the google algorithms in order to rank their paying customers websites higher in the search results for certain keywords. In simple terms, the top 3 organic ranked websites for keywords will take the lions share of the organic search business. If your website is on the 2nd page, forget about it. You won’t be found as searchers don’t go that far. Thanks – I am a big believer in getting under the hood of companies to understand how they operate. I am taking more risk than most (due to spread betting) and therefore I am always going to look for that edge through a thing called knowl-edge. :-) This is why I am happy to email those distributors because if I get one or two positive responses, it tells me those sites are open for business and the distributor is motivated. Exactly. This is a fantastic opportunity for ALT. They are providing the infrastructure expertise (building websites) that Aprinta don’t have the skills to do. ALT are doing the opposite of what most disruptors are doing which is disintermediation or more commonly known as cutting out the middleman. ALT are entering as the middleman between Aprinta and their customers. Inspired! With regards to the emails – that’s exactly what I am saying. I strongly doubt that most distributors have their customers email addresses. They have not needed to have them. They send their customers catalogues and I strongly suspect that most customers either phone in, come in or post in their requirements. I am not saying that they can’t transition these customers to email/web but I don’t think it’s going to be at the “flick of the switch”. It’s going to take time and this will mean that ALT will slowly ramp up it’s revenues. Just to qualify that last remark. ALT’s revenues could explode just based on scale, but I believe that it will take them a few years to really “squeeze the juice out of the lemon” and get the full extent of what’s available. EDIT: let's not forget that distributors will need to do things like find an email service provider, get their IP's whitelisted, build an email list, create newsletters etc. All things they have never done before. Re: convert existing customers. Great! I couldn’t make the presentation, so it’s comforting to read that. I have looked around the distributor site and, unsurprisingly, it does seem well structured. The good news is that if ALT have overlooked something in the customer journey they can quickly add it and roll it out across all of the distributors sites. I completely agree with your point about Gellan joining for his branding skills. As I mentioned, I am a huge fan of his. However, Gellan is a creative guy (this is why we should lock up our daughters) and despite all of our excitement in ALT it is a very dull sector. I like dull sectors. As Scott Galloway says: people make lots of money in boring sectors, its the cool sectors where they don’t. However, I suspect that ALT have overlooked the fact that the sites that they create will generally not rank on the 1st page of google. How much of an issue this is unclear to me. I don’t know how Aprinta position the sites to their distributors. If they have “sold” it to them along the lines of the sites will streamline your operations, I think they will be OK. If they have sold it to them that it will streamline operations and that they will pick up additional customers through organic traffic, I think they will be very disappointed with the latter. My concern for Gellan is that as their marketing guru he may be expected to spot this issue. Hopefully I am wrong on all counts. Re: PPDLive. I agree. I respect any company that listens to their customers, realises that they got it wrong, admits it and sorts it out. Just to be clear, I am a big fan of ALT. I am probably in a different position to most on this board though. I have a significant spread bet running at 70p. (It was squeeky bum time for me for a while at 60p). Therefore, I can’t afford to sit out the long term ups and downs and vagaries of the market. My challenge is to figure out approximately where ALT really sits versus its share price and get out before the share price gets too disconnected from reality. Re: I only emailed 2 or 3 companies. It’s a good point that it’s not a statistically significant proportion but I would have expected at least one response. My gut feel (and that’s all it is) is that these sites are not fully live yet. I have you to thank for that insight – so thanks! My goal now is to figure out if that’s the case or not. Best of luck!
buzztrader: Altitude (LON:ALT)Share price: 76p (up 27% today)No. shares: 46.4mMarket cap: £35.3m(at the time of writing, I hold a long position in this share)New supply agreements - this share is a bit too speculative for me, but a friend persuaded me to buy some recently. Graham wrote a section on it here on 14 Feb 2017.The company has a small existing business, but the excitement (and valuation) mainly rests on hopes for its new activities in America. The story is that the boss at Altitude has experience in the promotional goods sector, having been in a senior role previously at 4imprint (LON:FOUR) .Altitude's big idea is that it provides a software platform for a large number of promotional goods suppliers. This enables them to make personalised websites for their customers, instead of printed booklets. So customers can see products, with their own branding already applied, via 3D visualisation software online. They then place orders, and Altitude receives a cut of the gross profit from the manufacturer.It seems too early to be sure whether this is going to work or not. So in that sense, this share still looks jam tomorrow to me. Hence why I'm only a nervous holder at the moment, until some tangible proof emerges that the business model is actually working.This bit, in today's announcement sounds good;The first of the new agreements is with Market Brands LLC ("Market Brands"), based in Buffalo, New York State, USA. Under the agreement, Market Brands has undertaken to recruit 100 new sales staff who will target the creation of tens of thousands of branded web stores for small businesses throughout the USA. The stores will be powered by Altitude technology and fulfilled through Aprinta. Altitude will be remunerated through a percentage of the sales value of every order in line with the Group strategy.My opinion - it's very unusual for me to even consider jam tomorrow shares, as they nearly always go wrong. So I've no idea whether this one will be any different, or not. My friend reckons he's checked it out thoroughly, and he's got a good track record, so I'm hoping for the best, whilst expecting the worst.If I do get sucked into a jam tomorrow share, I always try to size the position so that a disastrous outcome isn't too financially damaging. The other key thing is to unceremoniously dump the shares once it becomes clear that things are not working out as planned. The really big losses are incurred by people who fall in love with a story stock, and cling on to the bitter end.Mind you, occasionally a jam tomorrow share does actually work, although I'm struggling to think of any examples.
bestace: buzztrader, I'll make no comment about historic share price movements; I consider that to be irrelevant and the gnashing of teeth over the last couple of days as pointless. However your comments about it being reasonable to expect some real numbers from the company and about making spreadsheets has prompted me to bash out the following, which has turned into a bit of a disquisition. Over the years so many companies have been brought to the AIM market which had a good story and a seemingly credible management. With hindsight many of those companies turn out to be flops led by salesmen in shiny suits selling snake oil in the form of a story of jam tomorrow that never arrives, and whose talents lie in being able to string along investors while they extract as much personal benefit from mug punters as possible. But sometimes the story is real and the directors are genuine and credible and the jam promised for tomorrow really does arrive, and I see it as my job as a private investor to try and sort the wheat from the chaff (excuse the mixing of food-based metaphors). For me, ALT is currently a stock with a good story with potential but not much more. When a story stock comes along I see it as imperative to take a dispassionate, critical view of the story and of management claims, to see whether it stacks up on a financial basis, having regard to the risks that may waylay a perfectly valid story before it has had a chance to deliver the jam. A necessary part of that process in my book is to build a spreadsheet and put some pro forma numbers together to calculate revenue and profit projections into the future. Such spreadsheet models are never spot on accurate, but that’s not really the point. The aim is to get a feel for what is possible, and by setting out all the key inputs behind the business model it quickly becomes obvious where and how profits are sensitive to the key drivers and assumptions, and what is not so important. For ALT, several different bases of calculation have been bandied around, i.e.: - 0.25% of market = $60m profit to ALT (from yesterday's presentation – SH post 1650) - 1% of market = $156m revenue to ALT (ALT presentation to SCSW on 28 December – see SH post 1063) - $1bn sales = $100m contribution to ALT (email from MV to SH earlier this month – see SH post 1087) All of these calculations are sourced ultimately to the ALT board (and MV specifically?) so you would think they should all be consistent with each other, but I’m finding it difficult to reconcile between them; it doesn’t help they are referring separately to revenue, profit and contribution! As it is, these calculations appear to be inconsistent with each other based on the information we have available to us. What I find frustrating is the lack of clarity about what the various numbers represent. I’m sure it would help having access to a comprehensive broker’s note which has crunched the numbers with guidance from the company, but that’s obviously off the table to us plebs. Questions I have about the above include: do references to percentages of ‘sales’ or ‘the market’ refer to the $22bn market or to the smaller chunk that represents the printers’ income? How does the 2.4m figure for ‘web stores’ in the SCSW slide relate to customer and distributor numbers? Do the various numbers quoted for customers and distributors refer to the Aprinta deal, the AIM deal, both or the whole market? What is the profit share that ALT earn on these deals? Is this based on the distributor’s gross margin or the printer’s? How is gross margin defined, e.g. how are sales taxes and other direct costs accounted for? What is the anticipated rate of roll out? To an extent, I fully appreciate this is not seeing the wood for the trees. Take any of the above methods, do the maths and it ends up as a Very Big Number compared to where ALT is now, and if you’re happy with the execution and competition risks, perhaps that should be enough to invest. But to me this all raises some questions, if not about the management themselves then certainly about their ability to communicate and clearly articulate their business case. Often the snake oil salesmen I referred to earlier use deliberate obfuscation as a key part of their toolkit, I would like to think that is not the case here but I still need some convincing this is more than just a good story. Given all this, I’ll remain sceptical unless and until ALT can demonstrate that the business and financial numbers stack up and that they are getting some traction in the form of website roll outs and free cash flow. Given where we are in the story, I expect this to follow fairly quickly. For any lawyers reading, I am emphatically NOT saying that ALT fall into the snake oil category.
Altitude share price data is direct from the London Stock Exchange
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