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AIM round-up: Provexis, Clontarf Energy, ITM Power

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London’s AIM Index lost a further ten points during Thursday’s session, reaching the close at 965.93 with today’s ECB monetary policy news dragging on sentiment.

  • Provexis +18%
  • Empyrean Energy +16%
  • Clontarf Energy +8%
  • ITM Power -18%
  • Lexington Gold -14%

Provexis LON:PXS was the day’s biggest gainer but upside was a muted 18%, volumes were hugely limited and the stock closed being quoted on a 25% spread. It’s probably too early to say if things are looking up for the maker of Erectile Dysfunction therapies.

Empyrean Energy LON:EME added 16%, leaving it in second place at the bell. Shares plummeted back in April after a drill project came back dry and whilst today’s gains go a little way to recovering that loss, there’s arguably more to come. The company noted in May that it proposed further drilling – could some news be about to break here?

A notable mention for Clontarf Energy LON:CLON which again found support today after that shake out at the start of the week. Gains were a modest 8% and with such a low share price the spread is arguably unrealistically wide here, but evidently some believe value can now be found.

ITM Power LON:ITM was the day’s worst performer, off 18% following the publication of a trading and corporate update. Order backlogs are growing and so are losses, but the company remains well capitalised even in light of the current burn rate.

Lexington Gold LON:LEX also struggled, off some 14% at the bell after it published full year results this morning. Trade was again limited but arguably of most concern is the fact that cash reserves are being whittled down, too. A CLN to raise a further £335k was issued in April.

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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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