TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Redcentric ( (GB:RCN) ) has provided an update.
Redcentric plc announced the exercise of employee share options, resulting in the issuance of 134,890 ordinary shares. This includes the transfer of 99,922 shares from Treasury and the issuance of 34,968 new shares, which will be admitted to trading on AIM. Following this, the company’s issued share capital will consist of 159,180,881 ordinary shares, with 159,178,512 being the issued voting share capital.
Spark’s Take on GB:RCN Stock
According to Spark, TipRanks’ AI Analyst, GB:RCN is a Neutral.
Redcentric’s overall stock score reflects its strong revenue growth and positive cash flow generation, tempered by profitability challenges and high leverage. Technical indicators suggest a cautious market sentiment with limited momentum. The company’s valuation appears stretched due to a high P/E ratio, despite a reasonable dividend yield. The increased stake by Lombard Odier is a positive corporate event, indicating confidence in Redcentric’s future.
To see Spark’s full report on GB:RCN stock, click here.
More about Redcentric
Redcentric plc is a leading UK IT managed services provider, offering a range of services to support businesses in managing their IT infrastructure and operations.
Average Trading Volume: 67,383
Technical Sentiment Signal: Strong Buy
Current Market Cap: £210.7M
Learn more about RCN stock on TipRanks’ Stock Analysis page.