I can't find any obvious reason why Probiotec share price is not moving.
Probiotec recently reiterated its guidance for FY 20 and gave indications for future growth in 2021. They also indicated that they were able to adjust prices to take into account recent cost increases, which shows their pricing power.
The company has an obvious growth profile, with an organic growth of 10 %+ per year, with a high level of retention of its existing customers. They also have a high level of free cash flow yield of 7.6 % estimated for FY 20. There is no reason to expect a lower free cash flow going forward, as the company expects to decrease its Capex (after a strong program during the last years) while their EBITDA should continue to increase with their business.
The only reason I find for this share price : it is a nanocap which does not get a high level of coverage. This seems also to be the case for other stocks, like Shaver Shop.
After a severe correction for nanocaps during February-March, I wonder if they are going to be the next to benefit from the stock market increase.
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