HiWave Technologies (HIW.L) - Is the former NXT worth a look at current levels?
HiWave, the provider of electronic and transducer solutions for audio and Haptic (nothing like a confusing term to discourage!) technology, has suffered a turbulent year to date, yet the outlook would appear to be brighter for H2.
Last week’s turbulence comes on the back of HiWave issuing its Interim Management Statement for the period 17th February 2012 to 16th August 2012. The market opened bullishly to this announcement (although 2m shares traded at only 1.5p isn’t that meaningful!) as the Group anticipated that it would meet market expectations for the Full Year 2012 - as far as we can see only the house broker now offers any coverage, so a somewhat restricted market! They declared that operating performance was improving as operating costs were reduced. Gross profit margin on component revenue is steady at 35% and 100%…