WideCells Secured One Contract To Provide Consulting And Marketing Services

  • Jun 05, 2019 BST
  • Team Kalkine
WideCells Secured One Contract To Provide Consulting And Marketing Services

Business Overview

Manchester headquartered WideCells is engaged in the business of providing Healthcare equipment and services. Its shares got listed to the primary market of the London Stock Exchange on July 27, 2016. The outstanding market capitalisation of the company stood at around £4.14 million. Its areas of operations are categorised into the segments like WideCells, CellPlan and WideAcedemy, and each of them operates under a separate brand. The group has a geographical presence in the UK, Portugal and Spain.

Recent News

Recently (June 03, 2019), in a company filing with the London Stock Exchange, the group has stated that their Iconic Labs new media business has secured an agreement with the UK headquartered financial services business to provide consulting and marketing services. The contract is for a long-term basis and initial revenue during the first year is expected to surpass £1 mn and has the potential to improve in the years to come.

In the company filings, David Sefton, Executive Chairman of the holding company stated that the Iconic Labs team has been able to materialise such an important contract at an early stage. The contract with worth over £1 mn will provide financial stability, and its importance cannot be underrated. He also commented that the restructuring initiatives will be completing soon, post which they will recommend the official name change of the company.

John Quinlan, CEO at the WideCells, stated that "With just a smooth landing of Iconic Labs business, we have created inroads into our market, and we got commendable feedback on our plans and offering." The group has a rich experience in this business and are well positioned to provide online marketing and create unique content for brands.

WideCells Share Price Performance

Despite securing a contract, its shares were the laggards at the London Stock Exchange and at the time of writing (as on June 05, 2019 at 02:52 PM GMT). Shares of WDC were quoting at GBX 0.34 and slumped by 2.8 per cent in today’s market session.

Daily Price Chart (as on June 05, 2019), before the market close. (Source: Thomson Reuters)

In the past 52-wks, the stock has touched a high of GBX 3.70 and a low of GBX 0.15. At the time of writing, the share was trading 90.72 per cent lower than the 52w High level and 128.86 per cent higher than the 52w low level.

The company’s shares were trading considerably below the 30-days, 60-days and 200-days simple moving average prices, which is a bearish technical indicator and any recovery in the stock price in the near term seems to be tough.

However, on a year-to-date basis, the stock was up by 86.84%, but on a yearly basis, the stock was down by 91.45%.

Stock's average traded volume for 5 days was 95,451,039.20; 30 days – 118,771,524.37 and 90 days – 76,566,544.63. The average traded volume for 5 days was down by 19.63 per cent as compared to the 30 days average traded volume. The company’s stock beta was 0.21, reflecting lower volatility as compared to the benchmark index.

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