Commentary

Key developments

Enterprise ICT stocks in Australia and New Zealand showed mixed performance over the last year. Overall, economic growth is expected to be sluggish relative to previous years, creating uncertain performance for enterprise ICT equities. Some of these companies are growing through acquisition rather than organically, and are exposed to any economic downturn.

Field Solutions

Field Solutions stock declined around 11% the month, with the stock falling 30% since it released its 1H24 results in mid March, which detailed widening Net Losses when compared to the prior corresponding period.

Data#3

Data#3’s stock price is down around 6% in the last month, despite any price sensitive announcements by the company. Analysts have dropped their target price for the stock on multiple occasions since the market reacted poorly to its 1H24 results.

Vonex

Vonex’s stock fell over 13% in the last month, despite releasing its quarterly cash flow report which showed a positive net cash from operating activities and a net increase in cash on the last quarter. The micro-cap stock however did fall with the ASX Small-Cap Index, which dropped 4.5% in the last month.