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FireAngel – 2022 “result will not be what we had set out to achieve”, so what of the share price leap?

Home safety products developer and supplier FireAngel Safety Technology Group (FA.) has issued a trading update and the shares are currently up by more than 24% in response to 10p. But how impressive is the news?

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FireAngel Safety Technology – “remains on target to meet market expectations”, But...

Home safety products group FireAngel (FA.) has made an update commencing that “it remains on target to meet market expectations” and including that “recently, the company notes that it has seen a slight improvement in component availability which is encouraging for 1H 2022”. So what of a share price, at 13.5p, which remains depressed even compared to earlier this year?...

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FireAngel (#FA.) – now expects FY revenue “at the lower end of market expectations”

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FireAngel Safety Technology (#FA.) – demand “continues” but markets, components and shipping “challenges”

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FireAngel Safety Technology (#FA.) – 2020 results & proposed £9.8m placing and open offer at 18p per share, a 20% discount

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Fireangel Safety Technology (#FA.) – H1 sales fall & loss increase, July “expected to be in line with the revenue recorded in July 2019”

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Fireangel Safety Technology (#FA.) – trading impacted though “June has seen demand returning”, new connected home order

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FireAngel Safety Technology (#FA.) – warns emphasising “not yet efficient enough”, reviewing product development and R&D strategy

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FireAngel Safety Technology (#FA.) – expects H1 “slightly ahead of budget”

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FireAngel (#FA.) – £6m open offer at 20p, already conditionally raised via a placing which is subject to clawback under open offer