Pelatro Share Discussion Threads

[paleje] 11/1/2021 15:27

Unfortunately the rises don't hold, bad sentiment over the way management operate but numbers should eventually override that. TU this month, it was 22nd last year.

[rivaldo] 04/1/2021 12:12

Nice start to 2021 - let's hope it continues and PTRO gets back to over 80p pronto.

HNY to all here.

[gleach23] 04/12/2020 18:59

Interesting late trade reported after the close of 75k @ 38p...interesting as there's been 75k available to buy online since yesterday. Would be nice if that trade results in a lack of supply at this price next week.

[masurenguy] 03/12/2020 15:18

Good to see some upward shareprice movement on just an average daily volume.

[gary1966] 03/12/2020 11:29

ST doing an update today I wonder.

[rivaldo] 03/12/2020 11:16

....and up nicely again today. Good to see decent interest coming in at these low levels.

[paleje] 01/12/2020 08:34

Bargain hunters in charge early morning, xmas sales.

[gleach23] 30/11/2020 17:17

Looks like the late reported trade of 195k shares @ 32p brought the share price down late afternoon. Picked some up @ 35p but seems seller(s) still lurking.

[masurenguy] 28/11/2020 13:16

Updated share register - the top 8 shareholders currently own 70.21% of the issued shares.

Chelverton Asset Management: 2,154,794: 6.62%
Rathbones Investment Management: 1,615,626: 4.97%
Herald Investment Management: 1,561,986: 4.8%
Artemis Fund Management: 1,542,465: 4.74%
Hargreave Hale Limited: 1,027,397: 3.16%
Maven Capital Partners: 1,005,479: 3.09%
Killik & Co LLP: 944,596: 2.90%

The 7 above institutional shareholders currently own 30.28% - some of them were marginally diluted by the placing to raise £2.1m @47p in August 2020. In addition to the above institutional shareholders, Bannix Management LLP, the investment vehicle of Kiran Menon, Varun Menon and Sudeesh Yezhuvath holds 12,993,553 shares (39.93%).

Most recent Cenkos Note:

[paleje] 16/11/2020 14:09

And still well under the placing price at which CEO's brother spent £500k. I bought back then at 47 but have averaged down which I don't like doing but shares where strong sentiment is involved can offer opportunities. Tuck em away and wait imo.

ST maintained his 100p target last time he covered them.

[rivaldo] 16/11/2020 13:17

...and the same again today.

[rivaldo] 13/11/2020 10:25

Nice move up today, on interesting activity with half a dozen small buys at steadily increasing prices.

[mfhmfh] 09/11/2020 11:13

smart buyers moving in...

[rivaldo] 09/11/2020 09:52

Cenkos have lowered their forecasts accordingly, but see a fair value of 84p per share given the recurring income.....

"Forecast revision. Factoring in our new assumptions, we see Group revenue in FY20E and FY21E of $4.0m and $7.0m respectively. Our FY21E forecast is built on $5.3m of recurring revenue (unchanged), implying a much higher visibility figure of 76%. Further business wins through next year should see additional progression in this figure and this level may be regarded therefore as conservative.

Valuation upside.

With $5m+ of recurring revenue, fair value would normally lie in a through-the-cycle average valuation range of 5-7x. At the mid-point this implies fair value around 84p per share, justifying our continued Buy recommendation"

[bigwig] 09/11/2020 09:28

I also saw it as an opportunity to buy some more.

[cordwainer] 09/11/2020 09:16

.. but why can't the directors just roll their sleeves up and do their own sales pitches ? I mean, how many telco's are they targeting ?

[paleje] 09/11/2020 09:08

commission only hopefully:)

[paleje] 09/11/2020 08:54

Management credibility, ditto that.

It would be nice to see some new customers although growing existing does suggest a high degree of satisfaction. ARR to at least cover projected cash outgoings in the 'very near future' whatever that turns out to be.

Late 2021/22 before the cash raise marketing starts to bear fruit, I'm not sure if that's a long time in their game but it seems it. And 'signed up' with a new sales person on a contract basis, hmm.

Notwithstanding the above their margin is good and mcap vs ARR (on a bad year), as rivaldo points out, seems low but they've still got some convincing to do imo.

[rimau1] 09/11/2020 08:50

The bigger issue here IMO is management credibility. If you read the past 12 months of TU’s and outlook statements. Probably is good value here with a 12 month view but i personally prefer MWE for a small cap growth story.

[cordwainer] 09/11/2020 08:40

Actually seems to be slightly beating the Cenkos revenue forecast in terms of the old revenue model comparative, if I'm not mistaken. I picked up a few more just below 35p, but not really expecting any catalyst til Spring '21

[rivaldo] 09/11/2020 07:31

Agreed overall cordwainer. Good to see the new Asian telco win for $1m-$1.8m, but it's a balancing act for PTRO in getting that recurring revenue up and forgoing immediate licence fee bumps. And the employees contracting COVID-19 hasn't helped.

There will probably be an initial MM markdown, but the m/cap is already down to £14.5m, so this may lead to an interesting opportunity.

[cordwainer] 09/11/2020 07:23

Trading Update just arrived.
Figures for 2020 a bit underwhelming but more than priced in with improving outlook and visibility. Could be as good a time as any to get in on the cusp of a transformed business (SaaS instead of one-off sales) before the benefits start to be reaped.

[paleje] 26/10/2020 11:43

We're about 5-6 weeks from a trading update going by last year, a contract win to go with it would be nice, show us how some of that cash raise is producing results:)

[mfhmfh] 26/10/2020 09:02

57.63k (125,000 shares) bought late on Friday.

[sl71] 22/10/2020 11:33

silly question - does anyone know if pelatro is an EIS qualifying share ?