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AIM round-up: Deepmatter, Sensyne Health, 88 Energy


The AIM Index managed to find another respectable day of gains on Wednesday as it attempts to claw back Monday’s losses. At the closing bell, the junior market sat almost 13 points higher at 1097.11.

  • Deepmatter +33%
  • Sensyne Health +28%
  • 88 Energy +14%
  • IG Design Group -58%
  • UKRProduct Group -22%

Deepmatter LON:DMTR topped the board today, adding 21% by 4.30pm. The company posted a series of TR-1’s today which included news that two parties were building stakes in the business. That was sufficient to drive interest in the stock albeit in fairly lumpy trade, but buyout speculation now seems inevitable.

Sensyne Health [LON:SENS] was the second highest riser, up 28% at the bell. The company this morning announced it had successfully completed a financing round which was necessary to complete a sale of the business. The gains need to be viewed in the context of the shares having lost 90% of their value over the last 12 months, however.

A notable mention for 88 Energy [LON:88E] which has been on our radar recently. There are diverging opinions on this but the outcome of that environmental appeal over drilling should be known in the next week or so and with oil prices running so hot, there’s a lot of upside potential to price in here. Shares are up 14% on the day, although still trade below last week’s highs.

IG Design LON:IGR was the day’s laggard, slipping a hulking 59% off the back of a trading update this morning. Despite good revenue growth, supply chain problems left the company facing increased fulfilment related costs, pushing operating margins for the nine month period down to just 4%. That means full year earnings will come in well below current expectations and the dividend has also been suspended. With these external challenges set to continue into the new financial year, even avid bargain hunters might be tempted to sit this one out.

UKRProduct Group LON:UKR was the day’s second worst performer, off some 22% although the stock which has historically only been very thinly traded anyway saw just a handful of bargains, has a market cap of £1m and was being quoted on a spread in excess of 40%.

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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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