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The latest update is out from Pennant International ( (GB:PEN) ).
Pennant International has successfully closed its Subscription, issuing 4,323,400 new ordinary shares at 21.5p per share, raising £929,531. The proceeds will be used to reduce the company’s overdraft and support investment in its Auxilium software. The Subscription involved related party transactions with Brett Gordon and Rockwood Strategic plc, deemed fair by the directors. This move strengthens Pennant’s financial position, aligning with its strategic focus on recurring revenues and growth in high-margin software and services amidst increasing demand in defense and technological sectors.
The most recent analyst rating on (GB:PEN) stock is a Sell with a £21.00 price target. To see the full list of analyst forecasts on Pennant International stock, see the GB:PEN Stock Forecast page.
Spark’s Take on GB:PEN Stock
According to Spark, TipRanks’ AI Analyst, GB:PEN is a Underperform.
Pennant International’s overall stock score is primarily impacted by its weak financial performance and bearish technical indicators. The negative P/E ratio further detracts from its valuation appeal. Improving profitability and reversing the bearish trend are crucial for enhancing the stock’s outlook.
To see Spark’s full report on GB:PEN stock, click here.
More about Pennant International
Pennant International Group plc is a technology-driven global provider specializing in system support software and services, technical services, and training solutions. The company caters to industries such as Aerospace, Defence, Rail, Shipping, Nuclear, and Space, focusing on sustainable recurring and repeatable revenues through high-margin software and services. Pennant operates worldwide with offices in the UK, North America, and Asia-Pacific.
Average Trading Volume: 93,218
Technical Sentiment Signal: Strong Sell
Current Market Cap: £9.51M
Find detailed analytics on PEN stock on TipRanks’ Stock Analysis page.