Algorithmic trading clearly exacerbating market volatility. 36% of all trades today were for less than $100. 278 trades were for 1 share. Whatever the trading strategies being deployed, order execution, profit seeking, arbitrage, trend trading, it is negatively impacting share price.
Not sure what to make of this. Third largest shareholder Yarra Valley Management (6.06%) has been actively increasing their stake (up 21%), whilst shorts remain stuborn at ~4%.
Results release 30 August? Forecast EPS $0.314 up from $0.231. FY25 $0.376. This may prove challenging. Hopefully they meet expectations, if not, this has been factored into current share price. Market sentiment suggests they have significantly underperformed:
Consensus of 10 analysts is a Buy with an average target price of $7.04. Have they got it wrong?
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