EOS has issued a tonne of shares since it hit its ATH of $10 a share. Legacy of Spacelink and the dark days of 2022.
So a SP of $3.50 is a market cap of above $600m. In order to support this valuation you would need earnings of at least $60m to support this. So Andreas and the new management need to deliver on the sales pipeline they were so confident about in the update call, as well as getting something out of the Space Division that is material in terms of revenue contribution.
Seeing as they are flagging further production expansion into the EU and also the big mess that is the Middle East at the moment you would think there is a a path there to get to $60m.
Nothing mentioned in the update call about the Redback situation.
EOS Price at posting:
$1.21 Sentiment: None Disclosure: Held
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(20min delay)