Perennials sell down is puzzling. There is substantial arbitrage should ACCC approval be forthcoming. The market has certainly deserted this stock. If order position at close is any guide, this sentiment may continue (17 buyers for 34,619 units and 38 sellers for 83,960 units).
Consensus valuation of 4 analysts is $4.75 (High $5.05, Low $4.19, average spread 24%). This puts your $4.00 fair value @FlightTime at the lower end, however analysts have been downgrading their EPS expectations and the overall consensus opinion has deteriorated sharply over the past four months.
Company trades at significant levels of forward earnings multiples. The risk is that they don't meet expectations. I am mindful of theirr 1HY22 announcement when they reported a statutory operating loss and breached their banking covenants which came as a complete surprise.
AQZ Price at posting:
$3.40 Sentiment: Hold Disclosure: Held
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