Why the EMvision (ASX:EMV) share price is going nowhere

The EMvision (ASX:EMV) share price is unchanged today after the company announced a trading halt on Friday. We take a look at why.
The post Why the EMvision (ASX:EMV) share price is going nowhere appeared first on The Motley Fool Australia. –

asx share price in trading halt represented by business man stopping falling row of dominoes

EMvision Medical Devices Ltd (ASX: EMV) shares are unchanged today after the company announced a trading halt before market open on Friday. At the close of market on Thursday, the EMVision share price was trading at $2.42. 

Let’s take a look at why the small cap medical imaging company requested the pause in trading.

Why are EMVision shares paused?

The EMvision share price was brought to a standstill on Friday morning pending a further announcement by the company. EMvision has advised it is awaiting the outcome of a grant funding application and has requested its shares remain in the halt until the announcement is made or the commencement of normal trading tomorrow.

How has EMvision been performing?

Last Thursday, the EMvision share price was being pushed higher after the release of the company’s half-yearly report for the period ending 30 December 2020.

EMvision reported strong revenue performance, delivering revenue of $1.67 million which was up 48% on the prior corresponding period (pcp). Nonetheless, this did not stop the company from posting a widening loss as it reported outflows of $3.21 million, up 78% on the pcp.

During the half, the company had grant income of $0.36 million, while it also received government support of $50,000. Operating expenses were principally made up of research and development costs associated with its technology.

Operating cash outflows for the half year were $1,059,119. However, thanks to the issuing of new shares financing, cash inflows came in at $8.7 million. As such, the company had a net asset position of $12.9 million as of 31 December 2020.

Commenting on the company’s progress, management stated that:

As an early stage company, the company’s business model is highly dependent on the achievement of continued technical development success as well as future funding, customer engagement and general financial and economic factors.

About the EMvision share price

It has been an average six months for the EMvision share price which has seen a rise of 7.56%. In comparison, the All Ordinaries Index (ASX: XAO) has returned 12.2% over the same period.

EMvision is an Australian company focused on the development and commercialisation of medical imaging technology. Primarily, it is focused on developing a cost-effective, portable, medical imaging device using electromagnetic microwave imaging for diagnosis and monitoring of stroke and other medical applications.

Based on the current EMvision share price, the company has a market capitalisation of around $171 million.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of EMvision Medical Devices Limited. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the EMvision (ASX:EMV) share price is going nowhere appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!