StockCharts365.com analyses Elektroimportøren AS!
Elektroimportøren AS in this week’s analysis by StockCharts365.com!
In this week’s Analysis by StockCharts365.com, Bjørn Inge Pettersen has taken a closer look at an exciting company on Euronext Growth Oslo, Elektroimportøren AS
(Euronext Growth Oslo: ELIMP )
The company has had two tough years, and the share has fallen from around NOK 80.00 in January 2022 to NOK 8.00 in February 2024. Since bottoming out at around NOK 8.00 in February 2024, the share price has risen to around NOK 13.00 today. The third quarterly report gives hope for better times ahead for the company, Elektroimportøren AS (Euronext Growth Oslo: ELIMP).
More information and technical analysis below.
Vikingen Investment School Week 47, we’re holding back a bit!
The world’s stock markets are falling or standing still. Here you will find our comments for week 47:
We choose to keep MPC Container Ships, a good long-term stock that we believe can handle the turbulence in the world
NVIDIA and Marex Group (MRX) we choose to sell right now. We may buy again in the future.
QUIA PHARMA AB (QUIA) we bought on November 12, and We sold the end last week.
In this the presentation you can listen to Peter Östevik and his information about which stocks are most worth buying right now. Recorded 19/11 in the evening. All analysis done with the help of Vikingen Financial Software.
We’ve learned to follow developments more closely than before and to be prepared to sell. US stock markets are rising after the election results. So we have most investments there right now.
It was our investment school of the week. Feel free to give us feedback and follow us on FB and/or Linkedin.
Below information about the company Elektroimportøren AS
(Euronext Growth Oslo: ELIMP)
Elektroimportøren is a Norwegian company that offers products within construction, housing and interior. The product range is broad and mainly includes electronic products, cables, heating elements, systems and tools. The company’s customers consist of both private individuals and corporate customers, where trading is mainly based on the company’s e-commerce platform.
The head office is located in Oslo. For more information about the company, visit their website.
Elektroimportøren AS, Third quarter 2024 results (Nov. 7, 2024) The company reported revenue growth of 1.7 percent to NOK 407 million in the third quarter. Net profit for the quarter amounted to NOK 33 million, a sharp increase from minus NOK 6 million last year. The company states that the result was affected by the release of earn-outs of NOK 44 million and a write-down of the solar cell inventory of NOK 13 million. Profit before tax was NOK 31 million. Adjusted EBITDA increased to NOK 44 million, up from NOK 29 million in the third quarter of 2023. The adjusted EBITDA margin was 10.9 percent, compared with 7.3 percent last year.
-“After two years of declining profits due to both internal and external challenges, the third quarter in many ways represents a small but positive change for us. Sales are increasing, gross margin is increasing, operating costs in relation to sales continue to improve and profits are increasing again year on year” said the CEO of Elektroimportøren in connection with the Q3-2024 earnings report.
The company reports growth in both Norway and Sweden in the third quarter. In Norway, e-commerce and the consumer market are driving growth, while in Sweden it is store sales and the corporate market that are increasing. The electrical importer opened its 28th store in Norway at the end of August, which is the company’s second store in the Bergen area. You can read more about the Q3-2024 results of Elektroimportøren AS (ELIMP) here.
Technical analysis of Elektroimportøren AS
(Euronext Growth Oslo: ELIMP)
The ELIMP share has triggered several positive technical signals recently. The stock has broken out of the long-term falling trend that started at the beginning of 2022. Furthermore, the stock has broken above both the 50-day and 200-day moving averages, and the 50-day moving average has broken above the 200-day moving average. This confirms that both the short-term and long-term trend has now turned from negative to positive.
The ELIMP share has also triggered a technical buy signal after breaking upwards from a larger right-angled rising triangle formation. Besides some technical resistance around the NOK 15.00 level, there is little technical resistance for the stock until around the NOK 40.00 level (see weekly chart). In the event of any downward corrections for the share, there will now be technical support around NOK 11.00, and at the 50-day and 200-day moving averages.
StockCharts365.com sees opportunities and so does the BEST model
Furthermore, the BEST model in Vikingen provides buy signals for the ELIMP share. This popular and effective technical analysis model was developed by Peter Östevik. He finalized the BEST model around 2019, after 30 years of experience in technical analysis and Viking Financial Software.
Based on this overall positive technical picture for the ELIMP share, StockCharts365.com assesses the share as an exciting buy candidate at the current price level of around NOK 13.00. The potential for the share is estimated to be around NOK 15.00 in the very short term (1-3 weeks) and around NOK 40.00 in the longer term (12-18 months).
Investor Ketil Skorstad also sees potential in the ELIMP share
StockCharts365.com is not alone in being positive about Elektroimportøren AS (ELIMP). The high-profile Norwegian investor Ketil Skorstad has in recent days increased his holding (via his company Tigerstaden AS) in ELIMP by 64,455 shares to a total of 714,455 shares (corresponding to 1.4% of ELIMP). For many years, Ketil Skorstad has proven to be very successful with his equity investments. Incidentally, the undersigned had the pleasure of working with Ketil Skorstad at the brokerage house Norse Securities in Oslo back in 1998, when the undersigned worked there as a technical equity analyst and Ketil Skorstad as an equity broker.
New share issue in 3PI with the aim of further developing Vikingen!
We welcome the public to purchase shares in 3PI during the period 18/11 to 13/12 2024. The purpose of the share issue is to finance a new and more user-friendly technical platform in Vikingen Financial Software AB through this capital injection. Read all the details in the memorandum and in our presentation via this link.
You are welcome to contact Lars Sennergren in 3PI for more questions about the share issue!
What is Vikingen Investment School?
The Vikingen Investment School (which wetell you about in this blog) started on May 13, 2024. We have chosen to invest SEK 10,000 and hope that you will join us to learn how to get rich(er) on the stock market. If you have more than SEK 10,000 to invest, it’s of course even more interesting, but the principles are the same. Through Vikingen Financial Software and our mentor Peter Östevik, we at Vikingen Investment School select the investments that are most worth buying right now.
Since 10/6, we’ve added even more value to the blog by adding “Analysis of the week” from StockCharts365 .com. And since week 41 there has been a link to Stock Chat in this blog.
Vikingen Financial Software reminds you that past performance does not always indicate future profits and that all trading is at your own risk.
Sincerely, Catrin Abrahamsson-Beynon
