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Solid State ( (GB:SOLI) ) has issued an announcement.
Solid State plc has repurchased 89,985 of its own ordinary shares at 174.44 pence each to be held in treasury, primarily to satisfy future awards under its employee share option schemes. Following the transaction, the company’s issued share capital remains at 57,081,720 ordinary shares, of which 352,758 are now held in treasury, leaving 56,728,962 voting shares in circulation, a figure that will guide investors’ disclosure calculations and underscores the Group’s ongoing use of buybacks as a tool for capital management and employee incentivisation.
The most recent analyst rating on (GB:SOLI) stock is a Hold with a £192.00 price target. To see the full list of analyst forecasts on Solid State stock, see the GB:SOLI Stock Forecast page.
Spark’s Take on GB:SOLI Stock
According to Spark, TipRanks’ AI Analyst, GB:SOLI is a Neutral.
Solid State’s overall stock score reflects a stable financial position with challenges in profitability and cash flow. The technical analysis indicates short-term bullish momentum, while the valuation suggests potential overvaluation. Positive corporate events, including significant contract wins and strategic partnerships, bolster the company’s growth prospects. However, the high P/E ratio and declining profitability are key risks.
To see Spark’s full report on GB:SOLI stock, click here.
More about Solid State
Solid State plc is a leading UK-based value-added electronics group supplying industrial and defence markets with durable components, assemblies and manufactured systems for critical applications in harsh environments. With core strengths in industrial and ruggedised computing, battery power solutions, antennas, secure radio systems, imaging technologies, and electronic components and displays, the Group operates through three divisions – Systems, Power and Components – and trades under brands including Steatite, Solsta, Custom Power, Pacer, Active Silicon, Gateway, Durakool and Q-Par. Headquartered in Redditch with seven production facilities in the UK and one in the US, Solid State employs more than 425 people across 13 sites and has expanded both organically and through acquisitions since its founding in 1971 and AIM admission in 1996.
Average Trading Volume: 93,663
Technical Sentiment Signal: Buy
Current Market Cap: £100M
For a thorough assessment of SOLI stock, go to TipRanks’ Stock Analysis page.