Slow Lane

Britain stuck in the slow lane and all stock picks are 86% BUY, 10% SELL and 4% HOLD.

1. AVOID CloudCoco

Top stock pick this week is AVOID CloudCoco Group by Steve Moore in ShareProphets with a tip performance 11%.

CloudCoco is an IT support company based in Manchester. Founded in 2004, it listed on the AIM market same year at 470p under the ticker CLCO and is today at 0.4p.

On 30th April CloudCoco released three RNS alerts – Final Results, Board Change and Restoration. In his article Steve Moore questions the positive language in the report and notes outstanding loan notes.

In Stockomendation Steve Moore says AVOID and Ben McPoland says BUY. There are no active short positions open.

In Stockomendation Moore is the only analyst with AVOID and there are no active short positions open.

2. HOLD Dr. Martens

Second top stock pick this week is HOLD Dr. Martens by Deutsche Bank with a tip performance of 9%.

Dr. Martens is a footwear and clothing brand, headquartered in Wollaston, Northamptonshire. Famous for footwear, the company also makes a range of accessories including clothing and bags. The footwear is distinguished by its air-cushioned sole, upper shape, welted construction, and yellow stitching. The Dr Martens' design studio is in Camden Town, London England. The company manufactures in the UK, China, Vietnam, Laos, and Thailand. The company listed on the London Stock Exchange in 2021 at 450p and is today at 79p. It is a constituent of the FTSE 250 Index.

Deutsche Bank analysts initiated their coverage of the British shoemaker by rating the stock a “hold” and issuing a target share price of 65p. On Monday shares opened at 75p. Shares have lost more than half their value in the past 12 months.

In Stockomendation three out of five analysts say HOLD they are Deutsche Bank, HSBC and Russ Mould; RBC Capital says SECTOR PERFORM and Steve Moore says AVOID. There are three open short positions open, view those here.

3. BUY eEnergy

Third top stock pick this week is BUY eEnergy Group by Canaccord Genuity with a tip performance of 7%.

eEnergy Group operates as an integrated energy services company in the United Kingdom and Ireland. It offers LED lighting solutions to education and commercial clients; and energy consultancy, procurement, analytics, and efficiency services. The company is based in London, the United Kingdom.

eEnergy share price listed on the AIM market at 10,350p in 2005 and is today at 7p.

Canaccord was appointed joint broker to eEnergy Group in July 2022. On 30 April the group released its Final Results on 30 April, view that here. The group reported a 68% increase in Energy Services revenue and anticipates strong future earnings growth in H2 24, backed by substantial cash resources and a reduced cost base. This period also saw strategic investments and partnerships to support ongoing projects and expansion into new sectors.

In Stockomendation Canaccord Genuity says BUY and Steve Moore says AVOID. There are no active short positions

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Disclaimer: The contents of this article should not be considered financial advice. Pricing data correct as at 2nd May 2024.