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Today, StockCharts365 has taken a closer look at one of its former favorite shares on Oslo Børs, which has now triggered a number of positive technical signals.


[13 June 2024]


Today, StockCharts365 has taken a closer look at one of its former favorite shares on the Oslo Stock Exchange. A lot of positive things have started to happen in the company during the past six months, and now the technical picture for the share also indicates that it can face a positive development going forward.


Read more about this below under the technical analysis of the stock here at StockCharts365 today.


 

First a little about the company, Aqua Bio Technology (ABTEC):


Natural and sustainable skincare


Aqua Bio Technology ASA is a Norway-based skincare company. The Company develops and commercializes sustainable biotechnology for use in skin care products.


ABT develops new active ingredients for skincare based on marine technology with documented positive effects on human skin. The ingredients are based on natural and sustainable substances, found in plants, algae and in the oceans and provide the cosmetics industry with natural alternatives to traditional ingredients.


In addition to ingredients from its own technology, ABT also markets and distributes natural skincare products to consumers, retailers and professional users in Europe and the Middle East.


The ABT portfolio of skincare products contains exclusive and high-end products as well as off the shelf products. They are distributed over the Internet, in stores and through professional channels such as skincare clinics.


Read more about the company on their website here:




 

Charts are from the technical analysis program Vikingen.


Technical Analysis of Aqua Bio Technology (ticker on Oslo Stock Exchange: ABTEC):

Aqua Bio Technology (ABTEC) has triggered several positive technical signals during the past six months. The share has broken out of the long-term falling trend (cf. weekly chart). Furthermore, the stock has broken above both the 50-day and 200-day moving averages, and the 50-day moving average is above the 200-day moving average. This also confirms that both the short-term and long-term trend for the share has turned from negative to positive. Various momentum indicators such as RSI, Stochastics and MACD signal that the stock may face further upswing in the short term. StockCharts365's own analysis models, The SignalList and The TradingList, are now both in a buy signal for Aqua Bio Technology (ABTEC). There has been a marked increase in the volume for the share during the past six months, and that contributes to and reinforces the aforementioned positive technical signals that have now been triggered for the share in the past six months. So far in 2024, the share has consolidated within a large rectangular consolidation formation, and between a support level around NOK 3.50 and a resistance level around NOK 6.00. An established break above the NOK 6.00 level will trigger a very strong technical buy signal for the share, and then the path up to the last significant resistance level, around NOK 13.00, could be short. Based on this overall positive technical picture for the ABTEC share, StockCharts365 believes that the share is very exciting, and may have significant potential both in the short and medium term.


 

News from the company yesterday, Wednesday 12 June 2024: Aqua Bio Technology ASA: Agreement in principle to acquire Jetcarrier AS, a major international warehouse and logistic group


Oslo Stock Exchange:

12.6.2024 08:49:47 CEST | Aqua Bio Technology ASA | Aqua Bio Technology ("ABT" or the "Company" and together with its wholly owned subsidiaries, the "ABT Group") entered into an agreement in principle on 11 June 2024 with the shareholders of Jetcarrier AS to acquire all outstanding shares in Jetcarrier AS (together with its wholly owned subsidiaries, the "Jetcarrier Group") (the "Acquisition"). The Jetcarrier Group is a logistic and customs clearance expert with advanced technological capabilities. Jetcarrier Group handles millions of parcels for the B2B and B2C market every year and has had steady growth since its inception in 2000. The revenues in 2023 were close to 350 MNOK with an EBITDA of 13 MNOK. Jetcarrier Group's unaudited numbers for the first quarter of 2024 showed an average growth of 6% in revenues compared to 2023 and 30% in EBITDA. The Q1 numbers are preliminary and should be regarded as estimates. For 2024, Jetcarrier Group expects to generate revenues of approximately NOK 365 million. Today, the Jetcarrier Group is working with renowned brands across various sectors, including Nike, Asendia, Victoria's Secret, HP, YunExpress and several others. These partnerships underscore Jetcarrier Group's position in global logistics and its ability to meet various industry requirements. Read more about Jetcarrier Group on: https://www.jetcarrier.com/site/


Through a series of strategic acquisitions, the ABT Group has obtained significant distribution capabilities within the cosmetics and personal care sectors domain. With the integration of the Jetcarrier Group,


ABT gains essential expertise in shipping, import/export, customs clearance and warehouse management.


The Acquisition is expected to result in considerable synergies for the ABT Group, in particular enhancing the wholesale business and in warehouse management efficiency.


ABT believes that the Jetcarrier Group's advanced technological capabilities will help ABT improve its technological proficiency across its various operations.


ABT's completion of the Acquisitions is subject to inter alia the entrance into a final share purchase agreement, completion of a valuation verification and a satisfactory due diligence, and approval from ABT's board of directors.


The estimated maximum purchase price under the Acquisition is 241 MNOK, which shall be settled in a combination of subscription of shares in ABT and cash payments, detailed as follows:


  • NOK 126 million will be used to subscribe to 18 million shares in ABT, at NOK 7 per share

  • 35 MNOK cash payment is due by November 2024 20 MNOK cash payment is due by November 2025

  • 60 MNOK cash payment is conditional upon Jetcarrier Group achieving a total minimum EBIT of 73 MNOK for the cumulative financial years 2024-2027 The sellers will commit to a 36-month lock-up period for the shares in ABT.


 

Update from the company on 25 April 2024: Aqua Bio Technology ASA: AQUA BIO TECHNOLOGY ASA - CORRECTION: Q1 MARKET UPDATE AND UPDATED FINANCIAL CALENDAR


Aqua Bio Technology ASA ("ABT ", and together with its subsidiaries, the "Group") has, as of the first quarter of 2024, achieved NOK 35 million in gross revenues on a consolidated basis with a positive EBITDA.


The Group subsidiary, Cover Brands AS, was consolidated into the Group's financial accounts from 1 January 2024. On 12 April 2024,


ABT completed the acquisition of Ovalen AS, which will be consolidated into the Group's financial accounts with effect from 1 May 2024.


The The Group's revenues for the first quarter of 2024 have not been audited.


Considering that Q1 is typically the weakest quarter in this segment, with 60% of annual turnover normally occurring in Q3 and Q4, ABT is on track with its previous guidance for a turnover of NOK 140-150 million in 2024.


With the integration of Ovalen AS (www.pusteromhudpleie.no) starting from Q2, and assuming satisfactory due diligence and the completion of the acquisition of 3D Innovation Nordic AS and its affiliated companies in Q2, ABT anticipates that the turnover for 2024 will reach NOK 200-210 million and that the pro forma turnover for 2024 for the Group will exceed NOK 250 million.


 

NB! Remember to have read and understood the disclaimer.

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