3 Stocks moving to low levels – AU8, M7T and MSV

3 Stocks moving to low levels – AU8, M7T, MSV

Along with the markets dropping below the 6,000 mark in the mid-day session falling by more than 150 points, three stocks moving to low levels with the index are in red. Here are the three stocks mentioned with the stock movements for the day. Amid the global markets volatility, the stocks have seen a downturn.

AUMAKE INTERNATIONAL LIMITED (ASX: AU8) – The stock of Aumake limited dipped by -7.812% to a market price of $0.295, the stock has undergone a performance change or a rise of 113.33% over past. In the Chinese market this partnership with DHL eCommerce has further strengthened AuMake’s logistic capability. Through the company’s wholesale warehouses, online e-commerce platform and retail stores, the sale of trusted Australian products takes place. The company reported 37% rise in sales to $7 million during the June quarter 2018 and 31% increase in gross profit to around $1.08 million compared to the prior year. The company had cash at bank of $10.7 million and $3.6 million in inventory as at the end of the June quarter 2018. 

MACH7 TECHNOLOGIES LIMITED (ASX: M7T) – The stock of Mach7 limited witnessed a dip of -7.5% to a market price of $0.185, the stock has undergone a performance change or a rise of 25.00% over past 1 year. The company has a growing global customer base across healthcare tiers and 50% pipelines in the last 15 months helped the sales growth. Contracted Annual Recurring Revenue to $5.3 million which is up by 24% and hence there was EBITDA improvement of 38% to $2.6 million in FY18 from $4.2 million in FY17. The company has cash on hand of $2.5 million with zero or no debt which was led by the reduction in cash outflow. However, company still had an overall loss of $4.9 million which could have affected the stock price and investor confidence.

MITCHELL SERVICES LIMITED (ASX: MSV) – The stock of Mitchell Services limited dipped by -6.25% to a market price of $0.045, the stock has undergone a performance change or a rise of 14.29% over past 1 year. The company made a total revenue of $72.70 million which is up 80% from FY2017. Total EBITDA was of $6.3 million which is up by 279% on prior year driven by the spike in revenue as utilization rates increased from 35% to 57% year on year. However, NPBT was still negative i.e. at -$2.34 million even after a 47% improvement. After repayment of the property loan, gross debt as at 20 August 2018 has reduced to $16.2 m. Prices have started to increase but remain competitive in certain sectors and competitive Profile of the market has stabilized.

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