Incorporated in 2012, Aquis Exchange PLC is a United Kingdom-based company that specializes in the creation and facilitation of financial markets. They achieve this by offering accessible, straightforward, and efficient stock exchanges, trading venues, and technology solutions. Aquis Exchange PLC operates through three segments - Aquis Exchange, Aquis Stock Exchange, and Aquis Technologies. The company is publicly listed on the London Stock Exchange and has a market capitalization of around £94.66 million.
C-Suite Executives' Bets
On October 16, Mr. Glenn Collinson, the independent chairman of the board, acquired 7,500 shares of the company, amounting to nearly $30,000 in total, with each share priced at $3.27. Just one day later, the Founder and CEO, Mr. Alasdair Haynes, invested approximately $40,000, increasing his holdings by 10,000 shares at a per-share cost of $3.25.
A Bullish Indicator
Both insiders made investments shortly after the company's announcement of its interim results for the six months ending on June 30, 2023. It's noteworthy that the last time these two increased their holdings was back on March 31, 2023, and within a week, the stock experienced a significant increase of over 7.5%.
In this latest occurrence, only a day after their purchase, the stock has already experienced a gain of more than 4%. A fluke or perhaps a strategic move?
Strong Interim Performance
On September 21, Aquis Exchange PLC released its interim results for the six months ending on June 30, 2023. The company's financial performance was robust.
The net revenue showed a substantial increase of 17%, reaching nearly £9.7 million. EBITDA also saw a significant rise, up by nearly 26%, equivalent to £1.7 million. Basic earnings per share were reported at 3.8p, marking a notable improvement compared to the 2.5p reported during the first half of 2022. Furthermore, the company noted that all four of its divisions were profitable during this period.
Aquis CEO, Alasdair Haynes, remarked in the report, "2023 so far has been a year of continued momentum for Aquis, with revenues continuing to increase across all divisions." Aquis CEO, Alasdair Haynes stated in the report.
In the wake of all these indicators, our Insider Model views his trading activity as bullish.
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