the Oslo stock Exchange ended slightly in the minus Friday (down 0.09 percent). Among the most traded shares were Statoil (down 0.23 percent), Marine Harvest (up 0,51%), Orkla (up to 1,98%) and Norsk Hydro (up to 0,80%).
The big loser in the fredagshandelen is the solar power company Rec Silicon, as the next morning released a notification for the third quarter.
Here it is stated that production will be lower than previously expected, with a subsequent fall in revenues.
the Company fell down around 20,04 percent on Friday.
Further informs the company that they should save money, including by running for half speed at the plant in Moses Lake. The plan is to pinch back the wallet to the market gets better.
– I think you can hope for a little comeback already in the end of the fourth quarter, but whether there will be any real upturn or not will be very dependent on what China is doing in 2017, says analyst Andreas Bertheussen in Swedbank to E24.
– Depending on the price trend
He believes that everything is black for the company, but does not hide the fact that this can be challenging.
– It will be possible to do in theory, but it is highly dependent on spotprisutviklingen in 2017, he said.
In today’s message is given the place to a chinese jointly owned project (joint venture) the Rec is involved. The Rec describes the possibilities to postpone the upcoming investments here – and what happens if they don’t cough up the money.
Profit warnings from the Rec
I consider it unlikely that they are going to pay it all as planned, ” says Bertheussen.
He believes, however, that it is possible to find options such as deferred or partial payment.
Knalluke for biotech company
If one takes for himself the whole week, you will find the Norwegian bioteknologiselskapet Targovax at the opposite end of the Rec. The company is among the week’s clear winners in Oslo. The stock is up a solid 17,42 percent in the last week.
Recovery takes place after several upgrades. Yesterday notified DNB Markets that the company takes up coverage of the stock with a kjøpsanbefaling and price target of 17 euros per share. According to the TDN has also Just started up with a kjøpsanbefaling, here is kursmålet 10 million.
Targovax is a biotekselskap with several product candidates in the “pipe”. Closest is maybe a vaccine against the cancer in the pancreas called TG 01, which has shown promising results.
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