Quarterly figures have arrived.
Sales in 2021 were €28 million.
Order backlog 2023 is 90 Mio$.
Market capitalization is 61 Mio€.
Small drawback, forecast has to be revised slightly due to supply chain issues. Nevertheless strong outlook!
Revenue forecast is revised to a range of 70 to 90 million USD and EBITDA forecast to a range of 3 to 5 million USD
So KUV at least below 1 and profitable.
The whole thing with electric mobility.
I'm sticking with it, it's going to be 👍🏼🚀
On days like this, I get hope again for my largest position in the portfolio. It has been going downhill for a year now (normal after a sharp rise) but I still believe in the company and its management. For me totally undervalued for an EV player. With the orders from last year and the newly closed ones this year, the sales forecast can easily be reached and a KUV of around 1 is far too low in my opinion.
Let's see where the company stands in 2 to 3 years 😎
First analyst house starts coverage of the stock with price target $25 which is over 700% gain! 😱
One of my favorite stocks anyway but this steps it up a notch and the rationale is solid.
Win the following:
We begin coverage of Vicinity Motors with a Buy rating and a $25 price target. Vicinity is a British Columbia, Canada-based manufacturer of mid-size electric buses for transit agencies, Class 3 commercial vehicles and, through a partnership with Optimal Electric Vehicles, electric shuttle buses.
We rate Vicinity stock as a manufacturer of electric vehicles with a correspondingly high valuation multiple. Competitors trade at 6 times estimated 2023 sales. This is also the multiple we use to value Vicinity stock. We believe Vicinity has two key advantages over its competitors:
Vicinity is currently producing and delivering vehicles. To date, it has delivered approximately 800 units, and its classic transit buses have passed the Federal Transit Administration's (FTA) "bus breaker" test in Altoona, Pennsylvania. Competitors such as Arcimoto, Lordstown, AYRO, WorkHorse, Nikola and ElectraMeccanica have not yet been able to deliver vehicles in large quantities.
The transit division and some commercial customers receive significant funding from state and federal programs, led by the recently passed $1.2 trillion infrastructure bill. Lucid, Rivian, Arcimoto and even industry leader Tesla must rely on consumer buying power. Vicinity customers, for the most part, MUST buy electric vehicles and have access to significant funding sources to pay for them.
I'm sticking with this. Long term a must have in the portfolio for speculative investors who believe in electrification of transportation 🤔
Trade
One of those hot stocks you don't talk about at MSW. In my experience, volume is everything here. Last Thursday there was real buying pressure here, and the next day it was clear why: a new order was reported. Over the weekend then below the trends at boersennews and Co. Theoretically there is much more in it here, at least the gap close at ~$4.95. I'll take the profits anyway.
