Shearwater Share Discussion Threads

[super squid] 03/11/2021 17:17

You are all being overly harsh. The results are disappointing but this is not for the first time.

On the other hand they are debt-free, have cash, are in the right business sector and there is limited downside.

I reckon this is a BUY in the £1-1.10 range but no higher.

[super squid] 03/11/2021 17:17

You are all being overly harsh. The results are disappointing but this is not for the first time.

On the other hand they are debt-free, have cash, are in the right business sector and there is limited downside.

I reckon this is a BUY in the £1-1.10 range but no higher.

[lightning rod] 03/11/2021 17:10

No clarity, no transparency (in their numbers), no growth and no prospects.

Apart from that a raging buy !!!

[lightning rod] 03/11/2021 17:08

Close-period provides them with a good excuse. Why on earth would anyone want to buy Shearwater ? That includes Directors !

Might be worth a punt at £1 on the basis on takeover prospects but, even then, I would have to think twice

[lammylover] 03/11/2021 16:51

Jimmytass - the Directors are in the CLOSE period - i.e. 2 months before HY or FY results are reported. Therefore they cannot buy at present!

[jammytass] 03/11/2021 16:35

where has the 1.8 m gone?!!!!!!
why are the bod not buying shares even at this low price?

[idlapac] 03/11/2021 16:34

weatherman - its down though relative to year end. why is there an outflow when no major capex or R&D has been referred to? just a VAT payment, which only accounts for less than half the outflow

[weatherman] 03/11/2021 16:32

Cash reported 12 months ago was £3.767m, which shows a healthy increase in cash y-o-y. I appreciate some may find the growth too slow, but need to put performance into perspective of the half year weighting 1:2 H1-H2.

[idlapac] 03/11/2021 16:21

so 1.8m outflow implied during the period?

[furgus ferret] 03/11/2021 14:28

Chris - ignore Cenkos. Broker notes mean nothing. No one trusts them and few read them.

It is just paid advertising and 'pumping' from a supposedly trusted (but not independent) source.

[lammylover] 03/11/2021 14:28

We need one the fund managers stepping in to mop up a few shares to steady the ship.
Until then the market makers will walk this down on very low volume, scaring private investors into selling for a song!
The reality is the share price has dropped 15% in 2 days on low, low volume. Its purely private investors spooked by slightly lower revenue in H1 and the missing £1.8m cash, not accounted for in yesterday's very brief RNS trading update.
Company now needs to deliver some decent sized new contract quickly.
Can the current board deliver OR should heads roll OR is a takeover needed?

[furgus ferret] 03/11/2021 14:26

Yes, LB it is time for a fundamental re-think led by the non-Execs. That is what they are paid for and is their role.

This company is failing miserably in a sector that is expanding by the minute. Frankly it needs new Executive management. That probably means Higgins has to go or at the very least be helped in his role. He was promoted to replace a dismal failure of a CEO. That element was not his fault.

That said, he has achieved little and SWG is 'treading water' at best but in reality going backwards.

A disaster.

[chrisdgb] 03/11/2021 14:16

I see Cenkos going for twice the current share price as fair value....

[2lb] 03/11/2021 14:09

One begins to question how long Higgins can stay in post - he was acquired with Brookcourt and didn't sign up for an AIM CEO role but took it on when incumbent was failing and overhead needed cutting. Pretty clear this isn't his skill set.

[amitshah2021] 03/11/2021 09:54

Results show they are struggling to increase and even maintain their revenue. That's why I'm out for now. All the best.

[f15jcm] 02/11/2021 23:16

Err, no. With EBITDA approximately equal to the VAT repayable and no corporation tax due, I'd expect cash to have remained about level.

[weatherman] 02/11/2021 19:05

f15jcm - ok I accept your point, but my point is still valid, that the fall in cash is to be expected given the weighted half year.

[bobby semen] 02/11/2021 17:27

Timberrrrrrrrrrrrrrrrrr

[furgus ferret] 02/11/2021 17:27

Cenkos cannot be serious. BUY ?

Anyhow, it does not matter too much as no one takes any notice of (paid for) Broker Notes.

What an awful mess of a company.

[igoe104] 02/11/2021 17:19

Buy note from cenkos...

[watcher13] 02/11/2021 16:18

This is now really serious under-performance against the market and the sector - lack of revenue growth is a real worry and share price now at a 5 year low - for those of us who backed the transformation from mining to cyber prior to consolidation, we are now at the equivalent of 1.275p/share - appalling given the opportunities out there

[f15jcm] 02/11/2021 15:49

Cash is down from £7.3m. £6m was the 'adjusted net cash figure' which had already had the VAT repayments subtracted

[weatherman] 02/11/2021 13:30

They repaid £1.1m vat debt, which makes the fall in net cash smaller at £0.5m from the end of the year. Clearly the revenue is cyclical with a weaker first half, and stronger second half, while costs will be broadly similar through the year. I'm looking for a strong second half, as per last year, with net cash returning to same or above the previous year.