Its such a strange phenomena. The experts always say, "Buy when the market hates it" or "Be greedy when everyone is cautious".
The financials of this company are "relatively" good.
NPAT up ~300%+ since 2021, up 200% from the pre covid levels.
Share price is down over 50% from 2021 highs of ~$39.
The PE ratio averaged above 50 for the last 7 or so years. The market is certainly pricing in a huge drop in earnings, but I feel this might be one of the stocks that has quite a bounce if revenues/profits dont drop as much as expected.
NPAT for 1H24 is $97.4m, so in the 2H they only need to do $50m to match 2023's numbers. If they even saw, say, a 30% reduction in from 1H numbers, that would still see $60m, and therefore see even a small increase on FY23 numbers.
This might easily see a short squeeze of some sort. Look at the reaction from the 1H23 report, even though it did give back those gains within a week or so.
This really is a tricky one. Might just have to buy small parcels and average up or down until the next result confirms the numbers.
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$15.46 |
Change
-0.040(0.26%) |
Mkt cap ! $4.300B |
Open | High | Low | Value | Volume |
$15.40 | $15.52 | $15.31 | $7.098M | 459.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
19 | 2004 | $15.45 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$15.47 | 2124 | 33 |
View Market Depth
No. | Vol. | Price($) |
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7 | 826 | 15.460 |
13 | 1276 | 15.450 |
8 | 538 | 15.440 |
2 | 263 | 15.430 |
4 | 435 | 15.420 |
Price($) | Vol. | No. |
---|---|---|
15.470 | 1877 | 29 |
15.480 | 797 | 9 |
15.490 | 597 | 9 |
15.500 | 511 | 8 |
15.510 | 1973 | 8 |
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