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Original-Research: Cryptology Asset Group PLC - von GBC AG
Einstufung von GBC AG zu Cryptology Asset Group PLC
Unternehmen: Cryptology Asset Group PLC ISIN: MT0001770107
Anlass der Studie: Research report (Anno)
Empfehlung: Buy
Kursziel: 7.12 EUR
Kursziel auf Sicht von: 31.12.2023
Letzte Ratingänderung:
Analyst: Matthias Greiffenberger, Julien Desrosiers
High NAV upside potential despite crypto winter. Investment opportunity in
one of the leading European Crypto investment companies.
The Cryptology Asset Group is one of the leading European holding companies
for Bitcoin and Blockchain related business models. According to the latest
shareholder letter, the strategy is to be adjusted and €100 million will
not be invested in crypto funds as planned. Instead, the company wants to
focus on its own investments.
Currently, we are in a 'crypto winter.' Bitcoin (BTC), the lead currency
for the broader crypto market, is currently hovering around $17,000, down
75% from its November 2021 peak. Bitcoin is not the only crypto under
downward pressure. Ethereum (ETH) and other leading altcoins such as
Cardano (ADA) and Polygon (MATIC) have lost more than 70% so far this year.
This trend is also reflected in Cryptology Asset Group's portfolio. In our
opinion, however, the share price currently reflects this development too
pessimistically. Thus, the market capitalization (€ 142.22 million as of
01.12.2022) was also significantly below the balance sheet equity of €
295.31 million, with an equity ratio of 98.4%.
The company is currently trading at € 2.49 (01.12.2022 17:35 Xetra) per
share and has published a NAV of € 4.79 per share (30.11.2022) according to
IFRS principles. We have reviewed the individual holdings of the portfolio
and have determined a NAV of € 7.12 per share according to the GBC
valuation. Thus, the company is currently trading significantly below NAV
and we assign a Buy rating in view of the high upside potential.
Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/26173.pdf
Kontakt für RückfragenOffenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,5b,6a,7,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter:
http://www.gbc-ag.de/de/Offenlegung.htm
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Datum (Uhrzeit) der Fertigstellung: 13.12.2022 (14:45 Uhr)
Datum (Uhrzeit) der ersten Veröffentlichung: 14.12.2022 (10:00 Uhr)
-------------------übermittelt durch die EQS Group AG.-------------------
Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.
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