very little success in US
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very little success in US
Seems like they are moving in the right direction though, lot of the numbers are reasonable improvements (would need to be too)…will make them more attractive to a takeover now.
It’s funny how these funds always buy in or start buying in just before the bell in a lot of cases…a sceptical person could feel that they are tipped off before the results hit the wire…
For the record I am not suggesting that is the case here, just can’t help noticing the timing …
Yes, guidance wasn't "to the firm". Bit of a useless metric, and the CEO's double down in muddying the waters between FCF & FCFF; "Importantly, as forecast, our Free Cash Flow continues toimprove, reaching FCF positive $1.3m for the financial year and we expect to be FCF positive for FY25."
Really bad misrepresentation, any other company using free cash flow in management statements but excluding interest would just be silly. Seems like the team got a little desperate.
A simple look at the cashflow statements would seem to show they burnt ~$10m.
Ampfield Management really liking Eroad, they are constantly buying, now up to 8.24% of the company shares from 7.69%
Prior disclosures started at 17th May when they went over 5% and then continued buying and made their second disclosure on the 23rd May.
Almost buying every trading day lately (except friday)
28/5/2024 - 100,209 shares
29/5/2024 - 90,363 shares
30/5/202 - 5,716 shares
4/6/2024 - 84,840 shares
5/6/2024 - 748,657 shares
https://www.nzx.com/announcements/432369
New York based investment firm, must really love Eroad if they are spreading their wings out this far to the NZX to buy shares.