Global Stocks Rally

Headlines say global stocks record best month in three years on rate cut hopes and all stock picks are a mix of 76% BUY, 11% HOLD and 13% SELL.

1. HOLD Petrofac

Top interesting stock pick this week is HOLD Petrofac by Jefferies with a tip performance of 21%.

Petrofac is a London based designer, builder, operator of oil and gas installations. Petrofac is an international energy services company that has been serving clients across the globe for more than four decades. Petrofac designs, builds, and operates onshore and offshore facilities, and trains the people who support them. Petrofac has more than 200 major projects across the world, from the Omani desert to the Arctic and depths of the UK North Sea. Petrofac designs and builds world-class gas processing plants and clean fuels refineries; constructs offshore wind substations, designs hydrogen units, and updates clients’ existing infrastructure to meet the latest global environmental standards. Petrofac share price listed at 193p 2005, reached a high of 1,593p in 2012 and is now at an all-time low of 20p.

Petrofac share price lost half of its value last week due to concerns about cashflow. Berenberg announced that it was in a “precarious” position due to £250m debt due in October 2024. Petrofac shares regained 30% on Monday at the news of the sale of ‘non-core assets’ but shares are down 69% this year.

In Stockomendation three analysts say HOLD, NEUTRAL or EQUAL WEIGHT they are Jefferies, Barclays and JP Morgan.

There are 15 fund manager short positions currently open in Stockomendation with the largest 2.12% by Helikon Investments. More shorts information here.

2. SELL Amte Power

Second interesting stock pick this week is SELL Amte Power by Steve Moore in ShareProphets with a tip performance of 16%.

Amte Power is a UK based lithium-ion and sodium-ion battery cells producer. It is one of the only UK battery manufacturers. AMTE Power has been producing cells for over 30 years at their factory in Scotland, which can trace its roots back to the birth of lithium-ion battery cell technology, first patented in the UK. AMTE Power produces automotive products designed specifically to power high-performance cars and heavy goods vehicles to help decarbonise travel and freight. AMTE Power is one of the only UK manufacturers developing a viable, alternative sodium-ion cell for energy storage systems.

Amte Power share price launched at 234p in 2021 and is currently at an all-time low of 0.8p.

Trading was suspended on 13 September and restored on 21 September with £2.5 private equity backing.

In Stockomendation Steve Moore is the only analyst with SELL and there is one fund manager short position currently open by Panmure Gordon.

3. AVOID Moonpig

Third interesting stock pick this week is AVOID Moonpig Group (MOON) by Chris Bailey in ShareProphets with a tip performance of 10%.

Moonpig is an internet-based business that sells personalised greeting cards, flowers, and gifts. The company's head offices are located in London and Guernsey.

Moonpig share price listed at 450p in 2021, it’s all-time high, reached an all-time low of 110p in 2022 and and is today at 157p.

In Stockomendation four analysts have four different ratings they are Chris Bailey with AVOID, JP Morgan with OVERWEIGHT, Berenberg with BUY and Davy with OUTPERFORM. There are 10 fund manager short positions currently open with the largest position 1.08% by GLG Partners.

UK Fund Manager Short Positions
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Disclaimer: The contents of this article should not be considered financial advice. Pricing data correct as at 7th December 2023.