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New Century AIM VCT 2
(LSE:OVCT)
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Rating:48Neutral
Price Target:
19.00 p
▼(-26.07% Downside)
Action:Reiterated
Date:10/09/26
The score is held back primarily by consistently negative operating/free cash flow and weak technical momentum (below key long-term averages with negative MACD). The balance sheet strength (zero debt) supports the score by reducing solvency risk, while valuation is mixed—high dividend yield helps, but a negative P/E and cash-flow weakness raise sustainability concerns.
Positive Factors
Debt-free balance sheet
A zero-debt structure reduces solvency and refinancing risk, giving the trust greater resilience during periods of weak portfolio performance. Its substantial equity base also provides financial capacity to maintain investments and pursue opportunities without depending heavily on lenders.
Negative Factors
Persistent negative cash generation
Persistent negative operating and free cash flow is a material weakness because reported earnings have not translated into cash generation. This can require the trust to rely on balance-sheet resources, constrain new investment capacity, and make distributions less financially secure over time.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A zero-debt structure reduces solvency and refinancing risk, giving the trust greater resilience during periods of weak portfolio performance. Its substantial equity base also provides financial capacity to maintain investments and pursue opportunities without depending heavily on lenders.
Read all positive factors
New Century AIM VCT 2 (OVCT) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£1.48M
Dividend Yield6.75%
Average Volume (3M)82.00
Price to Earnings (P/E)―
Beta (1Y)-0.10
Revenue GrowthN/A
EPS GrowthN/A
CountryUK
EmployeesN/A
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)N/A
Shares Outstanding7,784,400
10 Day Avg. Volume0
30 Day Avg. Volume82
Financial Highlights & Ratios
PEG Ratio-0.16
Price to Book (P/B)0.89
Price to Sales (P/S)7.39
P/FCF Ratio-15.92
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
New Century AIM VCT 2 Business Overview & Revenue Model
Company Description
New Century AIM VCT 2 Plc is a venture capital trust, which invests its funds primarily in unlisted, UK listed, and AIM traded companies. The company was founded on April 4, 2007 and is headquartered in London, the United Kingdom....
New Century AIM VCT 2 Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
76
Positive
Cash Flow
32
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 196.00K | 224.00K | -527.00K | 174.00K | 25.00K | 455.00K |
| Gross Profit | 196.00K | 224.00K | -527.00K | 151.00K | -4.00K | 415.00K |
| EBITDA | -272.00K | 94.00K | -630.00K | -282.00K | -1.59M | 1.07M |
| Net Income | -272.00K | 94.00K | -630.00K | -282.00K | -1.59M | 1.07M |
Balance Sheet | ||||||
| Total Assets | 1.75M | 1.89M | 1.47M | 2.24M | 2.54M | 3.86M |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 0.00 | 16.00K | 243.00K | 354.00K | 0.00 |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 24.00K | 39.00K | 27.00K | 30.00K | 131.00K | 19.00K |
| Stockholders Equity | 1.72M | 1.85M | 1.44M | 2.21M | 2.41M | 3.84M |
Cash Flow | ||||||
| Free Cash Flow | -104.00K | -104.00K | -119.00K | -239.00K | -28.00K | -96.00K |
| Operating Cash Flow | -104.00K | -104.00K | -119.00K | -239.00K | -28.00K | -96.00K |
| Investing Cash Flow | 97.00K | 97.00K | 24.00K | 29.00K | 125.00K | 449.00K |
| Financing Cash Flow | 321.00K | 321.00K | -132.00K | 99.00K | 168.00K | -322.00K |
New Century AIM VCT 2 Technical Analysis
Negative
25.70
Price Trends
19.00
Positive
19.54
Negative
21.23
Negative
Market Momentum
>-0.01
Negative
8.37
Positive
50.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:OVCT, the sentiment is Negative. The current price of 25.7 is above the 20-day moving average (MA) of 19.00, above the 50-day MA of 19.00, and above the 200-day MA of 21.23, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 8.37 is Positive, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:OVCT.
New Century AIM VCT 2 Peers Comparison
UnderperformOutperform
Sector (68)
GB:OVCT
New Century AIM VCT 2
19.00
-4.49
-19.10%
GB:PUAL
Puma Alpha VCT Plc
85.50
-12.00
-12.31%
GB:TPV
Triple Point VCT 2011 PLC
88.50
3.49
4.10%
GB:PU13
Puma VCT 13 PLC
117.50
1.00
0.86%
New Century AIM VCT 2 Corporate Events
Private Placements and FinancingRegulatory Filings and Compliance
Oberon AIM VCT Issues New Shares for Trail Fee Commission
Neutral
Oct 9, 2026
Oberon AIM VCT PLC has issued 644 new ordinary shares at 26.44 pence per share, reflecting the audited net asset value as at 31 December 2025. The shares are being allotted as trail fee commission to investors who took part in the company’s ...
Business Operations and StrategyDividendsFinancial Disclosures
Oberon AIM VCT Endures H1 NAV Drop but Backs Portfolio Recovery and Yield Target
Negative
Sep 18, 2026
Oberon AIM VCT reported a 16.3% decline in net asset value per share to 22.1p for the six months to 30 June 2026, underperforming the FTSE AIM All-Share Index, as market volatility, commodity price swings and weakness in several key holdings weigh...
Private Placements and FinancingRegulatory Filings and Compliance
Oberon AIM VCT Expands Equity Base with New Share Issue
Positive
Aug 28, 2026
Oberon AIM VCT plc has issued 117,753 new ordinary shares at 21.23 pence per share under its ongoing subscription offer, bringing the total shares issued through the offer to 459,082. The pricing was set by reference to the 31 July 2026 net asset ...
Regulatory Filings and Compliance
Oberon AIM VCT Investment Manager Increases Personal Stake
Positive
Aug 13, 2026
Oberon AIM VCT plc reported that its investment manager, Simon Like, has increased his stake in the venture capital trust by purchasing 31,500 ordinary shares at 18.25p each on 12 August 2026. Following this transaction, his beneficial holding ris...
Regulatory Filings and Compliance
Oberon AIM VCT Directors Increase Shareholdings
Positive
Jul 9, 2026
Oberon AIM VCT plc has reported that chairman Geoffrey Gamble and director John Beaumont have both increased their personal holdings in the company through share purchases on 8 July 2026. Gamble acquired 25,000 ordinary shares at 20.25p, lifting h...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.