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AIM round-up: Cloudcoco, Newmark Security, ITM Power


London’s AIM Index finished just a shade lower on the day, down by 0.6 points at the bell but still above the psychological 800 level at 809.07

  • Cloudcoco +32%
  • Newmark Security +24%
  • ECR Minerals +14%
  • Deep Matter -22%
  • ITM Power -20%

Cloudcoco LON:CLCO advanced 32% on the day, helped along by this morning’s trading update. A step change in sales as a result of acquisitions means that revenues for the year are now expected to come in at no less than £24m, treble the FY21 number. Investors appear to be applauding the momentum here rather than weighing on the comparatively modest uplift in EBITDA.

Newmark Security LON:NWT added 24%, again off a trading update. Revenues are pointing higher and although the inflationary environment has boosted costs, prices have simultaneously been hiked to account for this. This is something of a minnow, trades were limited and the spread is as a result wide, but given the numbers involved here, some investors may be smelling a bargain.

A notable mention for ECR Minerals LON:ECR which added 14% on the day. This morning the company announced it had been granted a conditional option to acquire Placer Gold. This would see a relatively late stage exploration asset being brough in house, with ECR’s internal expertise being used to bring the project to fruition.

Deep Matter LON:DMTR was the worst performer, off 22% at the bell. Yesterday’s trading update initially received a warm welcome but sentiment cooled through the session and the stock’s sell off continued today.

ITM Power LON:ITM was also languishing after its trading update and shares now sit almost 90% off from the 2021 highs. Today’s losses at one point were more than 30% so the recovery to close “just” 20% lower is notable. There’s an irony here in terms of the fact the company is involved in hydrogen production and storage and the product can also be added into natural gas pipelines to bolster supply, yet even with the current backdrop, it’s unable to find much love!

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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