AUS
NZ
UK
CA
USA
IND
Every investor in the market looks for feasible returns from its investments, whether it is for short-term or long-term. All the four stocks discussed in this article are moving towards growth, focusing on delivering shareholdersâ returns. Letâs have a look at these stocksâ recent updates.
Fluence Corporation Limited
Fluence Corporation Limited (ASX: FLC) is an Australia registered company, engaged in serving its clients with decentralised water, wastewater and reuse solutions. The company serves businesses and communities across the globe. It was officially listed on the ASX in December 2007.
Quarterly Report:
FLC, via a release on 30 July 2019, announced results for the second quarter of 2019. The company stated that after the successful Q119, it witnessed a business consolidation during Q219. It registered revenue amounting to USD 11.3 million in the reported quarter, bringing the first half revenue to USD 23.6 million. The company reported bookings equating to USD 19 million in the second quarter of 2019, owing to which total bookings for 1H 2019 stood at USD 241 million, substantially surpassing FLCâs expectations. Total backlog stood at USD 278 million as at 30 June 2019. Meanwhile, the company reported strong sales pipeline for its MABR based products in China.
Cash Flow Report for Q219:
The company reported cash and cash equivalents of USD 15.6 million as at 30 June 2019. Its net cash outflow from operating activities stood at USD 7.8 million during the second quarter. Adding to that, the cash result of FLC was adversely impacted by the delay in receiving the first disbursement from the project finance facility for the San Quintin project, which is anticipated to occur in the last quarter of 2019 after the finalisation of the Generate Capital facility.
Fluence Corporation Limited anticipates cash receipts from customers amounting to USD 26.1 million in Q3 2019 and cash payments of USD 32.1 million for the same period.
Stock Performance:
On 31 July 2019, the stock of Fluence Corporation Limited last traded at a price of A$ 0.470 per share, down 7.843% from its previous closing price. It has a market capitalisation of $ 274.1 million and 537.44 million outstanding shares. The stock provided returns of 13.33%, 9.68% and 41.67% for the last one month, three months and six months period, respectively.
Seafarms Group Limited
Operating in the consumer staples sector, Seafarms Group Limited (ASX: SFG) is involved in the development of aquaculture projects. Serving the Australian market for more than 30 years, the company focuses on best-in-class prawn farming practices. The company was listed on the Australian Stock Exchange in June 1990.
Products (Source: Companyâs Report)
SFG PSD Ranger Program:
The company updated the market regarding the ranger program of the Project Sea Dragon on 30 July 2019. It was mentioned in the release that the company has agreed to move forward the planning in relation to Ranger Program with the Northern Land Council, as part of the execution of the Legune Indigenous Land Use Agreement.
The Northern Land Council will lead the program planning, defining the operating area, the scope of activities, appropriate governance arrangements, infrastructure requirements, which include locations, training needs and the nature of the proposed workforce. The company is scheduled to hold its Extraordinary General Meeting on 20 August 2019 in Melbourne, Australia.
Change in Directorâs Interests/SPP Completion:
In another update, the company announced that Ian Norman Trahar had made a change in his holding by acquiring 1,166,662 ordinary shares at a consideration of $ 105,000.00. The total number of securities with the director stood at 454,557,889 (ordinary shares) and 21,708,333 (2021 options) after change in securities. The company had also wrapped up the Share Purchase Plan on 29th May 2019, wherein, it raised funds amounting to $ 4,433,712.87 by issuing 49,263,246 fully paid ordinary shares at a consideration of $ 0.09.
Stock Performance:
On 31 July 2019, the stock of Seafarms Group Limited last traded at a price of $ 0.088 per share. It has a market capitalisation of $ 173.54 million and 1.97 billion outstanding shares. The stock generated negative returns of 5.38% and 26.67% for the last three months and six months, respectively.
Pointsbet Holdings Limited
Pointsbet Holdings Limited (ASX: PBH) is an Australia registered company, which is a corporate bookmaker having its operations in the United States and Australia. It was listed on the Australian Stock Exchange on 12 June 2019.
Cash Flow Statement for June Quarter:
On 31 July 2019, the company released its quarterly updates for the period ended 30 June 2019. The companyâs net cash used in operating activities stood at $ 10.93 million in the reported quarter, while net cash used in investing activities reached $ 2.69 million and net cash used in financing activities was $ 71.55 million. For the June quarter, its cash and cash equivalents stood at $ 75.89 million. The company estimated cash outflows for the next quarter worth $ 37.64 million.
Source: Companyâs Report
New Partner in Colorado:
As per a release dated 30 July 2019, the company named Double Eagle Hotel and Casino as its Sports Betting Partner in the US state of Colorado. It had made an announcement regarding a deal between its wholly owned subsidiary PointsBet Colorado LLC and a casino operator in Colorado on 23 May 2019. The two parties will be engaged in developing a sports entertainment venue, which will be situated in Cripple Creek, Colorado. The venue will feature a sports bar, in addition to additional casino gaming options, on-site viewing parties for major sporting events and other facilities.
Stock Performance:
On 31 July 2019, the stock of Pointsbet Holdings Limited last traded at a price of $ 2.900, down 2.685% from its previous closing price. It has a market capitalisation of $ 327.8 million and 110 million outstanding shares. The stock witnessed a rise of 17.32% in the time span of one month.
Speedcast International Limited
Speedcast International Limited (ASX: SDA) is a global provider of remote communication and IT solutions. It caters to over 2,000 customers in more than 140 countries. The company, which was officially listed on ASX in 2014, targets clients in the maritime, energy, mining, enterprise, media, cruise and government sectors.
Target Markets (Source: Companyâs Report)
Updates Related to Substantial Holding:
The company through a release on 31 July 2019 announced that The Goldman Sachs Group, Inc. on behalf of itself and its subsidiaries including its significant subsidiaries and Goldman Sachs Holdings ANZ Pty Limited and its subsidiaries have become an initial substantial holder in the company. It owns a voting power of 5.41% with 12,960,662 fully paid ordinary shares.
In a market update on 30 July 3019, SDA reported that IOOF Holdings Limited (ASX: IFL) has made a change to its substantial holding with a voting power of 12.476% in comparison to the previous voting power of 10.693%. in another market update, the company unveiled that Challenger Limited (ASX:CGF) has ceased to become a substantial holder in the company from 26 July 2019.
Updates on Debt Facility:
Speedcast International, via a release dated 30 July 2019 updated the market that it got a majority consent from its Revolving Credit Facility lenders to introduce amendments with respect to the financial covenant applicable under its Senior Secured Facility. Adding to that, the amendment increases the maximum Net Leverage Ratio to 4.5x from 4.0x, and it will apply from the period ending 31 December 2019 through to, and including, the period ending 31 December 2020.
Stock Performance:
On 31 July 2019, the stock of Speedcast International Limited last traded at a price of $ 1.885 per share, down 3.333% from its previous closing price. It has a market capitalisation of $ 467.5 million and 239.74 million outstanding shares. The stock produced negative returns of 43.97%, 49.74% and 31.82% for the one month, three months and six months period, respectively.
Disclaimer
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