2 Stocks Under Market Participants’ Watchlist - CGA And IPD

  • May 07, 2019 AEST
  • Team Kalkine
2 Stocks Under Market Participants’ Watchlist - CGA And IPD

Let us have a look at two stocks that were beaten down in yesterday’s (6th May 2019) trade.

  1. Contango Asset Management Limited (ASX: CGA) is an ASX listed finance sector company based in Sydney, Australia. It promotes and partners with capable fund managers to independent financial adviser channels of the $2 trillion superannuation industry. It has a current focus on Australia for income and manages ex-30 dividend income strategy.

CGA crashed by a massive 24.4% on 6th May 2019 and closed the trade at A$0.34. Let’s have a quick recap on the recent updates reported by the company.

In the latest March 2019 quarterly cashflow report, the company reported cash outflow of A$819,000 from operating activities and the company did not undertake investing or financing activities. The company had net cash of A$3.4 million at the end of the quarter. The estimated cash outflow for the next quarter is at A$1.7 million.

On 13th March 2019 the company informed the exchange that the company secretary Mr. Jonathan Swain had resigned, and the Chief Financial Officer Mr. Anthony Rule had been appointed for the role of Company Secretary. Further, on 6th March 2019 the company announced that Mr. Roger Amos who is the Non-Executive Chairman of the company, had acquired 44,000 ordinary shares on 5th March 2019 for a total value of $19,932.80.

The market capitalisation of the company is A$22.08 million. The 52-week high and low of the stock is A$0.7 and A$0.215 respectively. The stock is trading flat at A$0.34 (as at AEST: 12:42 PM, 7th May 2019). In the last twelve months the stock has delivered a negative return of 37.04%, and the YTD return stands at 6.25%.

  1. ImpediMed Limited (ASX: IPD) is a healthcare company founded and based in Brisbane, Australia and having operations in the Europe and US. The company is leading globally in making medical devices which incorporates bioimpedance spectroscopy (BIS) technologies.

IPD was trading down by 20% on 6th May 2019 and closed the trade at A$0.34. However, in today’s trade the shares of IPD have bounced back and are trading up by 4.762% at $0.220 (as at AEST:12:42 PM, 7th May 2019). Let’s have a quick recap on the recent updates reported by the company.

In the latest March 2019 quarterly report, the company reported annual recurring revenue (ARR) for SOZO contracts (as of 31st March 2019) at $2.8 million up by 12%. The quarterly reported cash receipts from customers stood at $1.0 million. On the operational front, the company reported that it secured a multi-year purchasing agreement from Ascension Health Resources for its’s SOZO digital health platform. Further, the company also reported launch of an improved third-generation SOZO software.

The company reported cash outflow of A$4.8 million from its operating activities, outflow of A$640,000 from its investing activities, and cash inflow of A$81,000 from its financing activities. The company had net cash of A$17.06 million at the end of the quarter. The estimated cash outflow for the next quarter is reported to be at A$6.2 million.

On 6th May 2019, the company announced the publication of the peer-reviewed manuscript of the PREVENT interim analysis. Principle investigator of PREVENT Sheila H. Ridner, and Martha Rivers Ingram Nursing Professor at Vanderbilt University delivered the provisional results which established that patients undergoing investigation with BIS had reduced but non-statistically noteworthy reductions in the rates of progression requiring CDP related with TM. Further data with a longer follow-up than in this study is expected in the years to come. Additionally, ASBrS released PREVENT abstract on 3rd May 2019.

The market capitalisation of the company is A$119.63 million. The 52-week high and low of the stock is A$0.58 and A$0.18 respectively. In the last twelve months, the stock has delivered a negative return of 63.48%, and the YTD return stands at 7.69%.


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