When it was at $4, it was arguably overvalued. At $1.5, IMO -...

When it was at $4, it was arguably overvalued.

At $1.5, IMO - its a great bargain considering the following:

1. Just a few months ago (December 2022), institutional placement was done at $1.9/share and it was heavily over-subscribed.
I remember right after the completion of the placement, the SP was deliberately manipulated downwards ($1.8) below the placement price of $1.9/share.
The goal is to shake-off the weak-hands? It shot up to $2.7 in a matter of 3-4 weeks in Jan 2023.

Fast forwarding to 2 May 2023 - investors generally view the announcement positively. This can be shown by the SP (shot up more than 10% to $1.8) after the announcement. Then the shorters took over the show on the back of RBA's interest rate announcement.

2. The growth rate is pretty solid, and it has set foot in Hong Kong SAR - which could potentially penetrate into the China market (with a population of 1.4 billion)

3. MTX was on sale earlier than projected, this will fuel further growth in the coming quarters.

4. The company is very close to cashflow break-even! It was only losing 2mil/year! If the management wants the company to make profit, they can do so at anytime by not hiring new sales staffs at the expense of slower growth rate.

5. Price target from Macquarie ($2.75 - outperform) , Potter ($2.4 - buy)

Some other points to consider:
1. Interest rate is rising - but does it really affect PNV as we are almost cashflow breakeven!
Does PNV need to borrow extra money??? It has just completed an institutional placement in December 2022.
2. Many analysts are predicting a recession. How is it going to affect PNV? Do they have a choice of not buying our medical products in a recession???
i.e. people will probably cut-off discretionary expense like dining out etc... but if you are injured, you are injured, health is priceless!
3. Geopolitical tensions in Europe and Asia. How is this going to affect the demand of PNV products if the conflict/war escalates?

All IMO. DYOR!