Have quickly compared NMS SP with that of several other engineering stks eg. VMG CXG NWH MAH RCR MRM WOR SDM AAX MND ANG and thye mighty LEI.
Despite all the above being profitable ALL engineering stks on ASX have been hammered. But NMS has held up better than some/most. Look at AAX and NWH for example.Both have list of strong client base but have fallen to a fraction of their peaks 13 months ago.
It seems NMS peaked exactly 12 months ago at aprox. 1.33. Today's close of 28.5c=21.5% of SP peak. But NMS have diluted SP at least 2x since Nov 2007 and i wonder what effect that has had? Others have fallen more eg. NWH from 2.50-21c!!! Incredible and the company appears quite profitable.
If a significant proportion of NMS's fall is due to new issues then it illustrates the underlying strength of this company. i remain convinced the offshore energy sector is place to be. Intend to buy more as i seel down exposure in other stks.
M
PS. Was NMS exposed to the OPES Prime disaster?
PPS. Perhaps someone could compare SP and PE of NMS and MRM accepting they are not direct competitors.
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