Since the beginning of this year the share price of Superglass Holdings Plc (LON:SPGH) is rolling down although the good midterm company’s standpoint. May the Share Price of Superglass bounce up in the nearest days?
Last November, three of company’s directors purchased SPGH’s stock, like to confirm the good outlook of SuperglassHoldings Plc.The most recent stock rush has been noted at the end of last December. Then, SPGH has been traded within the range of its almost doubled recent price.
Two days ago the stock closed at £3.87 in a weak volume not being demanded during following two days. What could be the serious reason for the share price stuck down?
In the beginning of March, Superglass made a trading update for the six months ended 29 February 2016. The company announced improved in comparison to the previous year expected unaudited EBITDA loss of approximately £0.5m for the first quarter; reduced production costs; new customers and contracts. Furthermore, SPGH reported “gross cash at the interim period end of £2.4m, providing adequate cash headroom”.
On the background of these positive for the company news the share price not only remained almost unchanged, but recapped the overall negative trend.
Possibly, some of company’s stock observers would say that most recent news related to Chris Lea, the Finance Director of Superglass may be good enough reason for the weak share performance. Mr. Lea will be at the position of company’s CFO up to the end of this June to take the poison of CFO at the AIM-listed Indigovision Group Plc.
Thought this could be only one argument for SPGH’s enactment, other facts can tip the scales in favour of a positive share prise move. On the background of today’s fast moving capitals and huge indebtedness of some companies Superglass looks like a super company. SPGH had total borrowings of £17.59m at the end of 2011 to “swallow” them and reduce them to up to a total of £2.38m at the end of 2015 with minor changes in assets’ value.
Stirling based business, Superglass Holdings Plc is the UK’s biggest independent manufacturer of glass mineral wool insulation products. Company’s stock is traded on the London Stock Exchange since 2007.