The S&P/ASX 200 (Indexasx: XJO) (ASX: XJO) has managed to recover from an early fall and is up 0.4% in mid-afternoon trading, but these 5 companies have got the thumbs down from shareholders.
Ensogo Ltd (ASX: E88) ex-iBuy Group has dropped 9.3% to 19.5 cents. But investors may be taking advantage of the stock’s 117% rise since the beginning of this year. Ensogo owns and operates online retail sites in South East Asia, but clearly disappointed investors with its quarterly report today. Ensogo reported a 23% rise in cash collections, and the company finished the quarter with $7.5 million in cash (although it had raised $48 million prior to the end of the period).
Gold miner Troy Resources Ltd (ASX: TRY) has been dumped down 10% to 40 cents, after resuming trading following a trading halt in which the company issued 87.5 million new shares at 40 cents to institutional investors. No wonder shareholders are getting out. A token Share Purchase Plan to raise $5 million at the same 40 cent price is on offer for existing shareholders.
Unilife Corporation (ASX: UNS) is down 6.7% at 70 cents. The company develops injectable drug systems today reported US$11.6 million in cash outflows for the March quarter. Unilife still has US$39 million in cash at the end of March 2015, although the company did raise US$38.8 million from a share issue in late January.
MaxiTRANS Industries Limited (ASX: MXI) has slipped 4.6% to 42 cents. The company manufactures and supplies truck trailers and related transport supplies and equipment, but has seen its share price hammered over the past 2 years, due mainly to its exposure to the resources industry, and cost pressures from the falling Australian dollar. After reporting a profit of $5.1 million for the first six months of 2015 financial year, MaxiTRANS expects full year net profit to be between $5.9 million to $6.9 million. That suggests the second half is going to be awful financially.
Drilling equipment and services company Ausdrill Limited (ASX: ASL) has sunk to 42.5 cents, losing 4.5% so far today. The company’s shares are still up 48% in the past month, thanks to a major contract win with gold miner Perseus Mining Limited (ASX: PRU). The contract is estimated to be worth US$223 million over 5 years, more than double Ausdrill’s current market capital.
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