Enteq Technologies (NTQ)

Sector:

Fossil Fuels Production & Distribution

Index:

FTSE AIM All-Share

 9.75p
   
  • Change Today:
      0.000p
  • 52 Week High: 11.75
  • 52 Week Low: 8.25
  • Currency: UK Pounds
  • Shares Issued: 71.67m
  • Volume: 13,349
  • Market Cap: £6.99m

Enteq Upstream trades in line amid oil price fluctuation

By Iain Gilbert

Date: Thursday 08 Apr 2021

LONDON (ShareCast) - (Sharecast News) - Energy technology company Enteq Upstream said on Thursday that its trading results for the year ended 31 March were expected to be in line with expectations, with revenues in the region of $5.0m and a breakeven adjusted underlying earnings performance.
Enteq noted that the markets in which it operates had been affected by both dramatic swings in oil prices, from a 10-year low of roughly $16 in April 2020 to around $60 at the end of March, and fluctuations in the number of active drilling rigs in North America, dropping from 1,025 in March 2019 to 664 in March 2020 and then down to a low of 251 in July 2020 before recovering to their current position of 430.

However, following the recent oil price recovery and a subsequent upturn in activity in North America, Enteq said it has now received repeat orders from "well-established operators" in North America, in addition to further Eastern Hemisphere progression in China, the Middle East and Asia. Further sales were also made for the supply of equipment into the geothermal energy sector, a key market for the firm.

The AIM-listed group's cash balance as of 31 March was $8.1m, down from $10.2m at the same time in 2020, reflecting planned ongoing investment during the year into its rental fleet, engineering projects and product development.

Elsewhere, Andrew Perry over as chief executive on 1 April, while founder and outgoing CEO Martin Perry moved over to the chairman's role. Former chairman Iain Paterson will continue on with the group as a non-executive director.

As of 1000 BST, Enter shares were down 2.90% at 16.75p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

NTQ Market Data

Currency UK Pounds
Share Price 9.75p
Change Today 0.000p
% Change 0.00 %
52 Week High 11.75
52 Week Low 8.25
Volume 13,349
Shares Issued 71.67m
Market Cap £6.99m

NTQ Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
47.88% above the market average47.88% above the market average47.88% above the market average47.88% above the market average47.88% above the market average
50.00% above the sector average50.00% above the sector average50.00% above the sector average50.00% above the sector average50.00% above the sector average
Price Trend
40.57% below the market average40.57% below the market average40.57% below the market average40.57% below the market average40.57% below the market average
55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average
Income Not Available
Growth Not Available

NTQ Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
10:19 8,169 @ 9.66p
08:01 5,180 @ 9.66p

NTQ Key Personnel

CEO Andrew Law
CFO Mark Ritchie

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