Fulcrum Utility Services... Share Discussion Threads

[orm5] 25/6/2022 07:57

https://www.marketscreener.com/amp/quote/stock/FULCRUM-UTILITY-SERVICES-6392874/news/Fulcrum-Utility-Services-Experienced-engineer-to-lead-complex-electrical-engineering-division-40804787/

[orm5] 24/6/2022 14:39

Fulcrum appear to have made a number of new hires and promotions recently and seem to be getting their house in order. Although the energy market has been turbulent there is a lot going off, especially on the electrical side for new renewable generation, EV charge hubs etc. They should be in a good position to move forward from here. I have taken a position

[phillyaboots] 23/6/2022 12:42

I think we already had an idea the results are not going to be great, but at the current market cap will we make it to the results at the current share price Harwood previously offered 26.25 to buy the company and take private. After the recent fund raise with now increased shares in issue that offer would be circa 12p.Even a 30m market cap giver a share price of 8.3p. An upside of 63% from current levels

[eezymunny] 23/6/2022 11:11

If it´s just an inflation problem eating margins there will be a little short term pain, but the market cap here looks daft considering the recent fundraise and all the assets on the b/s.

If there are big cost overruns due to other things it might be another, more painful, story of course.

I´m inclined to think it´s cheap here. Tangible book was c 16m end H1 and they´ve raised 20+m since then. So 36+m TNAV less H2 losses (3m say) and you have 33m vs market cap 20m.

Results will be interesting and, as you say, perhaps worth waiting for topvest.

[topvest] 23/6/2022 10:48

I would be worried about how cost inflation is impacting their gross margins, as I expect the contracts are fixed price. If each one is taking a year or so to deliver, then most of their gross margin is being lost. New management may also find issues leading to a very bad set of results and kitchen sinking. Best to await the results and buy then, not now, in my view.

[spectoacc] 23/6/2022 08:05

Also in for a few but nothing more than an average-down. Didn't think they'd go below 12p, now don't think they'll go above it :)

[p1nkfish] 23/6/2022 07:54

For Mills it's financial noise. Not so sure about the other bunch.

[phillyaboots] 23/6/2022 07:49

Topped up - time will tell

[value viper] 23/6/2022 06:23

Selling volume of recent has been minute imo. Everything like this simply being marked down. It must be very undervalued now basis cash / net assets of course but bear markets crater everything. What must the 12p funders be thinking all the same.

[topvest] 22/6/2022 20:18

I would be wary here until the results are released.

[phillyaboots] 22/6/2022 19:10

I would like them to move to a business model similar to SMS. They seems to have similar skills capability but SMS have grown the smart metering and asset ownership side of things. SMS current market cap is more than £1bln

[phillyaboots] 22/6/2022 19:07

I think it's maybe one or more smaller holders selling out and the market for this share being very illiquid so the market makers drop the price. Today the today volume was less than £100k and it's down 8%Combined with recent market update of onerous e contract and increasing prices, also nothing happened yet with regards to the smart metering acquisition.

[p1nkfish] 22/6/2022 17:55

Wondering if one of the major holders (not Mills) is financially distressed?

[phillyaboots] 22/6/2022 17:34

It would get really interesting if a third party was to emerge other than the 2 major shareholders....

[p1nkfish] 22/6/2022 16:27

Very interesting situation.

[phillyaboots] 22/6/2022 15:45

Painful to watch, but must be getting interesting at this price. Recent director buy at 6.20 and market cap now less than the value of the fund raising 6 months ago

[phillyaboots] 21/6/2022 17:09

Must be close! Certainly below cash and asset value.Could be a take over target at this level

[avobull] 21/6/2022 13:37

Must be below cash value now!

[p1nkfish] 18/6/2022 16:25

New blood & heads added, its not over for Fulcrum. Yet!
A long and winding road.

[p1nkfish] 14/6/2022 04:57

New broom sweeping.

[value viper] 13/6/2022 22:30

The outgoing fd was appointed in October 2020 - certainly hasn't been any financial improvements over her tenure fwiwCollins wielding the axe or ?

[solarno lopez] 10/6/2022 14:10

Going places

[phillyaboots] 10/6/2022 08:28

Looks like the company has made a few new senior hires.Chief operating officer and head of design.