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Penny Share Review 351
21 August 2006
Access Intelligence (ACC) comprised part of Derek Pain’s “No Pain, No Gain” section of Saturday’s Independent, commenting that a bearish statement from the Company had caused a degree of share turbulence. However, it appears to be trading well and looks capable of delivering on its promises and is worth hanging on to, as the market is under-pricing the shares. The share price improved by 0.25p to 5.50p this morning.
The Independent on Saturday reported that SQC Research reckons IDN Telecom (IDN) shares could hit 3p this year and 4p next year. It continued to quote Mark Watson-Mitchell at SQC, saying the Company is clearly undervalued and could attract a bid and that he sees profit this year of £1.175m with £1.8m next year. The share price was unchanged at 2.23p this morning.
The weekend’s FT included Knowledge Technology Solutions (KTS) in an article that suggested the shares had proved disappointing, although the author remarked that he keeps hoping it will make a profit and someone will take it over. During this morning’s trading, the share price rose by 0.13p to 1.00p.
The Daily Mail on Saturday commented that word is Oliver Cooke, Chairman of Multi Group (MLT), will resign once a deal to sell GM has been reached, following the disastrous reversal into the Company. The piece went on that Bob Morton, a major shareholder, is now picking up the reigns. The share price was ahead by 0.05p at 0.83p this morning.
Oxford BioMedica (OXB) appeared in the Financial Times this weekend in an article that reviewed the portfolio of its writer, Kevin Goldstein-Jackson. He commented that he still has long-term faith in the Company and looks forward to hearing news on its other products, including a potential treatment for Parkinson’s disease. The share price improved by 0.25p to reach 24.00p during this morning’s session.
The Independent on Saturday remarked that shares in Seeing Machines (SEE) are “well worth a look” after the price moved forward following news of funding approval from the Australian Government. The piece concluded with a “Buy” recommendation, but the share price remained 3.13p during trading on Monday morning.
The prices given above were taken between 9.00am and 9.38am on 21 August 2006.
Announcements
The following companies, in which City Equities customers may have an interest, released announcements to the market this morning. These can be found by entering the relevant company name or ticker code in the search box on this site.
Black Rock Oil and Gas (BLR): Monterey Well Funding.
Electric Word (ELE): Interim Results and Board Changes.
Oxford BioMedica (OXB): Phase 3 of RCC Trial to Commence.
Symphony Plastic (SYM): Sales Agreement.
Look out for this week
Monday 21 August –UK Rightmove House Prices (August).
Tuesday 22 August – UK Immigration Data (Q2).
Wednesday 23 August – UK CBI industrial Trends (August). US Existing Home Sales (July).
Thursday 24 August – UK Buiness Investment (Q2). US Initial Jobless Claim and New Home Sales (July).
Friday 25 August – UK GDP (Q2) and BBA Mortgage Lending (July).
The next Penny Share Review will be posted on Tuesday, 29 August 2006.
Compiled by Chris Richards.
Penny Shares Online - penny shares research and information service.
There is an extra risk of losing money when shares are bought in some smaller companies including 'Penny Shares'. There is a big difference between the buying price and the selling price of these shares. If they have to be sold immediately, you may get back much less than you paid for them or you may have difficulty in selling them. Past performance is not a reliable indicator of future results. The price may change quickly and it may go down as well as up. You could lose every penny put into a particular share.
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