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Quartix Technologies – “pleased to report… in line”, but is that sufficient for the valuation?

By Steve Moore | Wednesday 13 October 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.

Vehicle tracking technologies company Quartix (QTX“is pleased to confirm” that Richard Lilwall has commenced as CEO, with retiring founder CEO Andy Walters remaining on the board as a non-executive and that “the annualised recurring revenue of the fleet subscription base was £23.5m on 1 October, representing a gain, in constant currency terms, of £1.5m since the start of the year”. What though of the shares, down from around 490p when I previously wrote on the company to currently 450p?…

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