Energy Storage Systems Manufacturer Trends Positively with Orders
Source: Streetwise Reports
October 29, 2018 (Investorideas.com Newswire) A Mackie Research note relayed this company's latest news, regarding revenue and new hires.
In an Oct. 22, 2018, research report, analyst Nikhil Thadani noted that Eguana Technologies Inc. (EGT:TSX.V; EGTYF:OTCQB) is getting initial reorders. "On August 23rd, with Q3 (Jun) F2018 results, the company announced that new orders in addition to ~$4 mln 9M F2018 revenue had exceeded ~$3 mln." Mackie Research expects the energy company will land about $2 million more in orders in the ensuing weeks or months. Once quarterly revenue "starts to approach and consistently exceed about $2–3M, the stock could rapidly rerate," he added.
Thadani pointed out that the recent hiring of two executives could boost incoming orders to Eguana. Marcus Brunner, the former chief sales and marketing officer at Mercedes-Benz Energy, will serve as chief sales officer. Dr. Andreas Rueckemann, previously an entrepreneur in the cleantech space, will take the role of director of sales, Europe.
Mackie believes that Eguana could generate significant revenue in calendar year 2019 from North America and Australia and that "topline growth should be coming." Thadani concluded, "We are optimistic that ongoing order activity should lead to consistent revenue and growth from Q1 FY19 (December) onward."
Mackie has a Speculative Buy rating and a CA$0.70 per share target price on Eguana, whose current share price is around CA$0.18.
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Disclosures from Mackie Research, Eguana Technologies Inc., Update, October 22, 2018
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