HCA Market Close 22.11.22: Featuring Hafnia, Shape Robotics, and MapsPeople
HCA Market Close 22.11.22 – Hafnia makes all-time high following yesterday’s Q3 22 earnings, Shape Robotics announce a direct issue, and MapsPeople published its Q3 2022 earnings.
Market Movements:
Denmark: OMX:C25 (+0.53%) ; Sweden: OMX:S30 (+0.67%) ; Norway: OBX:OSL (+2.40%) ; S&P 500 (+0.81%) ; Nasdaq (+0.57%); Stoxx 600 (-0.06%)
Market Drivers:
Markets gained today on a weaker US dollar and falling Treasury yields.
Today’s trading volume was below average as the US started winding down for Thanksgiving on Thursday. Markets today were primarily driven by falling treasury yields and a weaker dollar. That move was initiated by San Francisco Fed President Daly striking a dovish tone, saying officials need to be mindful of the lags in transmission.
The FTSE 100 in the UK outperformed European indexes following the surge in energy prices, which benefitted the energy and commodity heavy index. The move in oil was interesting, given that Saudi Arabia denied rumours that OPEC were considering supply cuts. China also tightened its Covid zero policies today as the country yet again faces rising Covid-19 cases.
Snacks from the HCA Platform:
Hafnia gains further today following the strong Q3 2022 report yesterday. The share ends up with 4.9% at a new all-time-high of NOK 59.9. Of the 4 analyst that covers the share and contributes to Refinitiv there are 2 Strong Buy recommendations and 2 Buy recommendations. They have price targets ranking from NOK 70 to 84 with a mean at NOK 73, which is up from NOK 55 a month ago.
This morning, Shape Robotics announced a directed issue of DKK 27.1 million (gross proceeds), new revenue guidance for 2023 of minimum DKK 130 million, and an ambition to be listed on Nasdaq Main Market in Copenhagen (from Nasdaq First North) within 9-12 months. The new shares in the directed issue were subscribed by institutional investor Fundamental Invest (approx. 98.5%, corresponding to approx. 26.7 million) and OPM Invest ApS, owned by CEO André Reinhard Fehrn and Business Development Director Mark Abraham (approx. 1.5%, corresponding to approx. DKK 400,000). Read more here in Danish: https://www.inderes.dk/analyst-comments/shape-robotics-rejser-dkk-271-mio-i-en-rettet-emission-og-annoncerer-2023-omsaetningsforventninger Shape Robotics gained 18.6% in today’s trading.
Today, MapsPeople announced its Q3 financial report, reaching a total ARR of DKK 56.8m at the end of the quarter. This corresponds to a growth rate of 61% YoY (the same growth rate as Q2 2022 YoY). As expected, growth is primarily driven by the segment MapsIndoors, which has reached a total ARR of DKK 45.0m, corresponding to a growth of 89% YoY (93% growth rate in Q2 2022). MapsPeople maintains guidance for 2022. Earlier this morning, MapsPeople also announced that the company enters into a partnership agreement with US-based Vizsafe to offer indoor mapping in Vizsafe's Incident Management platform. The share declined 3.5% in today's trading.
Disclaimer: HC Andersen Capital receives payment from the companies for a #DigitalIR agreement./ Philip Coombes 18:30