This stock has been a total disappointment almost since the day that I profiled the company in late January this year.
Within days the shares had collapsed 30% on unexpected corporate news. At the beginning of this month they had fallen even further to just 35p.
The group is a leading provider of technology and services for the global offshore energy markets.
BlackRock the Wilmington, US based investment empire reduced their holding in the group from 12.20% to below 5% at the start of November.
However, I have noted that those shrewd boys at Schroders have been picking up more and more Tekmar stock at these lower levels.
At the last reported count they had built up a 17.83% stake in the group, and look as though the company’s shares are still on their shopping list.
The group has endured some big hassles this year, with delays on big contracts, a change of CEO and a major review taking place.
I am now prepared for a positive ‘recovery hoped for’ statement coming out on Tuesday 1 December when the company declares its half year results to end September.
Now at 46p the shares could well attract the short-term gamblers.
(Profile 28.01.20 @ 168p set a Target Price of 205p)