Hedera Group AB (HEGR) AI Stock Analysis

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Hedera Group AB

(Nasdaq OMX AB:HEGR)

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Rating:53Neutral

Price Target:SEK 0.63▲(1.45% Upside)

Action:reiterated

Date:11/13/26

The score is held down primarily by deteriorated fundamentals (losses, negative gross profit, and weakening revenue trend), partially offset by an improved leverage profile and currently positive—though volatile—TTM cash generation. Technicals are a clear positive with price above major moving averages and positive MACD, while valuation remains constrained by negative earnings (negative P/E) and no provided dividend yield.

Positive Factors

Improved LeverageLower leverage and a sizable equity base provide greater financial resilience than the company had in 2021. This can preserve borrowing capacity and reduce balance-sheet pressure while management works to restore profitability, supporting continued operations through a difficult earnings period.

Negative Factors

Persistent Losses and Negative Gross ProfitThe shift from profitability in 2022–2023 to continuing losses shows that the current operating model is not yet producing sustainable earnings. Negative gross profit is especially serious because service costs exceed revenue, making recovery dependent on meaningful repricing, cost reduction, or restructuring.

Hedera Group AB (HEGR) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 23.60M
Dividend Yield: ―
Average Volume (3M): 45.79K
Price to Earnings (P/E): -6.6
Beta (1Y): 0.93
Revenue Growth: -4.49%
EPS Growth: 77.81%
Country: Sweden
Employees: 45
Sector: Services
Sector Strength: 55
Industry: Staffing & Employment Services

Hedera Group AB Business Overview & Revenue Model

Company Description

Hedera Group AB (publ) and its affiliated entities operate within Sweden, providing specialized human resources for the healthcare sector. Their primary focus is on the recruitment and placement of physicians and registered nurses into various medica...

Hedera Group AB Financial Statement Overview

Summary

Financial performance has weakened materially: the company shifted from solid profitability in 2022–2023 to losses in 2024–2025 and remains loss-making in TTM 2026, with revenue growth turning negative and most recently flat-to-down. The move to negative gross profit in 2025 and TTM is a major red flag. Offsetting this somewhat, leverage appears manageable and improved versus 2021, and operating/free cash flow are positive in TTM despite the net loss (though cash flow has been volatile).

Income Statement

27Negative

Balance Sheet

58Neutral

Cash Flow

46Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	491.30M	516.30M	543.31M	678.28M	453.91M	246.97M
Gross Profit	-900.00K	-4.50M	18.40M	34.76M	122.00M	52.36M
EBITDA	-4.40M	1.60M	6.18M	21.20M	19.33M	7.03M
Net Income	-3.30M	-9.40M	-2.52M	9.46M	13.57M	2.60M
Balance Sheet
Total Assets	214.30M	229.70M	232.99M	261.32M	232.66M	147.00M
Cash, Cash Equivalents and Short-Term Investments	5.30M	6.70M	8.37M	15.06M	8.65M	5.79M
Total Debt	20.50M	29.56M	42.67M	41.80M	40.38M	38.97M
Total Liabilities	115.30M	129.00M	132.45M	154.91M	135.71M	90.41M
Stockholders Equity	99.00M	100.80M	100.54M	106.41M	96.95M	56.59M
Cash Flow
Free Cash Flow	10.40M	-2.26M	473.00K	12.17M	8.14M	-1.55M
Operating Cash Flow	10.10M	-3.40M	1.42M	12.80M	10.09M	1.78M
Investing Cash Flow	0	-500.00K	-951.00K	-2.65M	-22.20M	-10.51M
Financing Cash Flow	-12.80M	2.20M	-7.16M	-3.74M	14.97M	10.17M

Hedera Group AB Technical Analysis

Technical Analysis SentimentPositive

Last Price0.62

Price Trends

50DMA0.47Positive

100DMA0.46Positive

200DMA0.53Positive

Market Momentum

MACD0.05Negative

RSI62.29Neutral

STOCH75.93Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:HEGR, the sentiment is Positive. The current price of 0.62 is above the 20-day moving average (MA) of 0.52, above the 50-day MA of 0.47, and above the 200-day MA of 0.53, indicating a bullish trend. The MACD of 0.05 indicates Negative momentum. The RSI at 62.29 is Neutral, neither overbought nor oversold. The STOCH value of 75.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:HEGR.

Hedera Group AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

SE:HEGR against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:DEDI	72Outperform	SEK 624.52M	12.30	―	2.82%	9.56%	20.95%
SE:PION.B	71Outperform	SEK 364.21M	13.57	20.06%	―	0.26%	―
SE:EWRK	57Neutral	SEK 898.94M	17.29	―	7.56%	-12.06%	-50.75%
Sector *	55Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
SE:HEGR	53Neutral	SEK 23.60M	-6.57	-3.33%	―	-4.49%	77.81%
SE:CALVIK	51Neutral	SEK 391.27M	19.30	―	―	114.67%	115.69%
SE:WISE	39Underperform	SEK 106.43M	-5.29	-28.66%	―	-19.48%	37.71%

* Services Sector Average

Performance Comparison

SE:HEGR and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:HEGR	Hedera Group AB	0.62	-0.13	-17.33%
SE:WISE	Wise Group AB	11.05	-2.45	-18.15%
SE:PION.B	Poolia AB Class B	7.96	2.28	40.14%
SE:DEDI	Dedicare AB	62.00	19.59	46.20%
SE:CALVIK	Job Solution Sweden Holding AB	76.80	24.80	47.69%
SE:EWRK	Ework Group AB	52.90	-31.88	-37.60%

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.

Date of analysis: Nov 13, 2026

Hedera Group AB AI Stock Analysis