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AIM round-up: Falanx Group, Pires Investments, ITM Power


The AIM Index continues its almost relentless march higher, tacking on a further six points on Wednesday to close at 1185.56

  • Falanx Group up 50%
  • Pires Investments up 24%
  • ITM Power up 17%
  • Windar Photonics down 18%
  • Online Blockchain down 13%

Cybersecurity specialists Falanx Group [LON:FLX] found themselves at the top of the board today with shares adding 50% off the back of news of a significant expansion. The company launched a new Managed Detection and Response service last summer, which has now been successfully piloted on Microsoft’s Azure Sentinel platform. The deal is seen as opening up new opportunities for Falanx and investors have been quick to cheer the news – but the share price still remains below last month’s highs despite this announcement.

Pires Investments [LONB:PIRI] was the day’s second best performer, adding 24%. The share has been tracking the advance – and retreat – of cryptos in recent weeks, but today’s jump higher more than covers the sell off from the last few days. There’s nothing specific behind the news but the company has a string of tech investments in its portfolio. Good news could be coming here.

At the bottom of the board it’s Windar Photonics [LON:WPHO], off 18% on the day, but this could well be little more than profit taking after the run of gains which started at the very end of December. There’s certainly no definitive news behind the move but green energy firms have found renewed support in recent weeks. There’s nothing to suggest we’ve seen a top here.

Online Blockchain [LON:OBC] is back on the radar, down 13% as the day’s second biggest faller. The shares now sit at 50p so still well up on the sub-20p level that dominated before Christmas, but that sharp sell-off in cryptos over the weekend continues to drag on the stock.

A notable mention for ITM Power [LON:ITM] whose shares charged higher today and closed some 17% up, driving the market cap to £3.65bn. To put that in context, Royal Mail Group is currently worth £3.7bn. News of a sale of what will be the world’s largest ‘PEM’ electrolyser has bolstered the share price, with the transaction being the first to be completed via the company’s recently announced JV.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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