STTCOMP CVT, TA Long
Covata Limited (CVT) is a global leader in data-centric security solutions. Enabling secure file sharing without compromising simple usability.
Covata Limited (ASX: CVT)
SP: 21.5c
MC: $113.0 Million
Cash/Cash Equivalents as at March 31st June 2016: $7.7Million(AUD) plus a recent cap raise resulting in an additional $13.2 Million, taking the total to around $20.9Million (AUD)
Since early Feb 2016, the Company’s share price has fallen from a high in the mid 40c range, to a recent trading low around the late teens to early 20c range. Technically it would appear that buyers were happy to step up to the plate since early July, where both Volumes traded and share price consolidation has occurred. Last Fridays market update placed buying pressure on the share price, and forward momentum in the share price is possible if these daily trading volumes continue, as sellers sit tight.
This is not a buy or sell recommendation and please always DYOR.
Cheers
GF
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