3 Interesting Stocks Under Discussion – 88E, BUD And PLS

3 Interesting Stocks Under Discussion - 88E, BUD And PLS

88 Energy Limited

88 Energy Limited (ASX: 88E) is based in West Perth, Australia and explores for oil and gas properties. The company holds an interest in a couple of projects comprising the Icewine project (77.5%) in North Slope of Alaska, and the Yukon Gold leases (100%), situated on the eastern border of the Central North Slope of Alaska in the United States.

At the beginning of the session on March 1st, 2019, a trading halt was imposed on the securities of 88 Energy pending the release of an announcement to the market, tentatively until the commencement of regular trading on Tuesday, March 5th, 2019. The company has AUD 113.97 million of market capitalisation and the 88E stock last traded on February 28th, closing at a sell-off price of AUD 0.018. It has generated a negative return of 37.52% since past 1 year, although the share price has picked up by 5.88% over last three months.

For the FY2018 ended December 31st, 2018, 88 Energy accumulated revenue from continuing operations at ~ $ 1.36 million and the total comprehensive income for the year attributable to the members was $ 967,761. The net cash and equivalents were $ 21.72 million significantly boosted by the cash inflows of $ 36.43 million from financing activities.

Buddy Platform Ltd

The Seattle, Washington-based Buddy Platform Limited (ASX: BUD) provides highly scalable Internet of Things (IoT) data aggregation and management infrastructure through Buddy Cloud, Buddy Ohm, and Parse on Buddy. It has a market cap of AUD 72.64 million, and ~ 1.1 billion outstanding shares.  With the close of trading session on March 1st, 2019, the BUD stock closed at a market price of AUD 0.067, up 1.515%, indicating an intra-day gain of AUD 0.001 and ~ 4.77 million volume of shares traded. The stock has mostly trending been down since the past six months with a negative return yield of 40%. The YTD return also stands negative at 30.53%.

The company recently updated its results for the half -year ended December 31st, 2018 reporting the net loss attributable to the members of the parent entity at ~ $ 8.1 million, down on $ 7.05 million in the prior corresponding period (pcp).  The service revenues increased by 55% to $ 1.3 million on pcp accompanied by the realisation of $ 116k of finance income, up 221% on pcp. The net cash and cash equivalents stood at $ 15.113 million at the period end.

Pilbara Minerals Limited

Pilbara Minerals Limited (ASX: PLS) explores, evaluates and develops mineral resources in Australia. It has a market cap of AUD 1.3 billion and ~1.74 billion outstanding shares. At the end of the ASX market session on March 1st, 2019, the PLS stock closed trading at AUD 0.705, down 5.369%, indicating an intra-day fall of AUD 0.040 and a positive YTD return of 2.76% so far.

Of late, development of the wholly-owned Pilgangoora lithium-tantalum project, located in Pilbara region, is company’s key focus. For the half-year ended December 31st, 2018, the company recorded a loss after tax of $ 11.9 million, up on $ 9.9 million at the end of the prior corresponding period ended December 31st, 2017. The exploration expenses amounting to $ 4.41 million, an unrealised foreign exchange loss of $ 6.09 million related to the Company’s USD 100-million Nordic bond debt facility as well as non-cash share-based payment expenses of $ 1.79 million, together escalated the loss.  Besides, the company reported a basic loss of 0.68 cents per share and with no dividend announced as yet.

The operating and investing activities caused net cash outflows of $ 7.08 million and $ 44.95 million respectively. While financing activities contributed cash inflows of $ 2.39 million. The net cash and cash equivalents at the period end stood at $ 70.26 million.


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