Talk of $8 is silly - just look at the chart and even factoring in the profit downgrade for 2009 it would be absurd.
Anyone selling at these prices is clearly taking a loss so you have to question the motive - the market only traded below $9 for 5-6 days in December when the whole market was being smashed. Before that you have to go back over 4 years to find levels below $9.
IMO all this is due to inst. investors who paid $11.25 a share in the placement dumping stock because they are annoyed - there would be circa 25m shares in that. Today's volume was very light compared to the previous week or so, selling pressure is definitely easing - just a lack of buyers today which is not surprising given financial year end a day away.
Just take a look at Monsanto share price mvmt since their announcment last week - much more sensible reaction to a current/future earnings adjustment the scale of what Nufarm announced.
Reading the Macquarie report today - they revised 12 month target to circa $12.60 and their commentary looks quite reasonable. At $9 this represents a very strong buying opportunity. Don't forget Rathbone and the other top 5 shareholders have 50% ownership - they won't be selling!!
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Last
$3.94 |
Change
-0.080(1.99%) |
Mkt cap ! $1.506B |
Open | High | Low | Value | Volume |
$3.96 | $4.05 | $3.92 | $6.112M | 1.537M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 13397 | $3.93 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.96 | 13533 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 13397 | 3.930 |
6 | 32000 | 3.920 |
5 | 26133 | 3.910 |
9 | 118033 | 3.900 |
2 | 10804 | 3.890 |
Price($) | Vol. | No. |
---|---|---|
3.960 | 13533 | 3 |
3.970 | 7804 | 1 |
3.980 | 7804 | 1 |
4.010 | 10000 | 1 |
4.020 | 8388 | 1 |
Last trade - 16.10pm 19/08/2024 (20 minute delay) ? |
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NUF (ASX) Chart |