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Pennant International – a “satisfactory” first half?, why the further share price decline?...

By Steve Moore | Tuesday 31 August 2021


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Previously writing on provider of technology-based training and support to the defence and regulated civilian sectors Pennant International (PEN), in April I reviewed why “pleased to report” full-year results saw the shares approaching 14% lower at 38p and concluded continue to avoid. Today a stated “satisfactory” half-year and “anticipates that its financial performance will improve significantly in the second half… trading remains in line with market expectations for the year as a whole”, so why are the shares currently a further more than 12% lower on the day to below 30p?…

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