AIM movers: IQE partnership and Renew hit by rail delays

Semiconductor wafer manufacturer IQE (LON: IQE) is partnering with Quintessent Inc to develop the world’s first large-scale quantum dot laser (QDL) and semiconductor optical amplifier (SOA) epitaxial wafer supply chain. Quintessent Inc has made an initial order of $500,000. This follows the announcement that 2024 revenues were better than expected at £118m. The loss is still likely to be more than £24m. The share price improved 12.5% to 14.85p.

Revolution Beauty (LON: REVB) shares recovered some of their loss on the back of the poor trading statement on Thursday. Fourth quarter trading to February 2025 is weak with some retail launches delayed until the first quarter of 2025-26. Full year revenues are forecast to fall by one-quarter to £143.6m and a £1.6m loss is anticipated. The share price rose 8.66% to 11.8p.

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Quantum Blockchain Technologies (LON: QBT) shares rebounded 6.75% to 1.265p following yesterday’s £2m placing at 1.15p/share. The cash will be invested in its Bitcoin mining technology. Executive chairman Professor Francesco Gardin has extended his agreement with MC Strategies for the repurchase of five million shares to June 2025. The repurchase price has been raised from 3.483p/share to 3.568p/share. Last week, it announced a breakthrough for its Bitcoin Artificial Intelligence model mining tool. The Method C AI Oracle provides a 30% improved performance compared with other methods.

ITM Power (LON: ITM) is jointly developing a design configuration for a 10MW green hydrogen plant with an unnamed European energy company. This will be used in several UK projects. The design involves two 5MW NEPTUNE V electrolyser systems. The share price increased 6.46% to 36.07p/share.

FALLERS

Quadrise (LON: QED) has raised £4.5m through a placing at 3p/share and a retail offer could raise up to £1m more – although the figure could be increased. The money already raised will last well into 2026. Quadrise is taking advantage of the share price rise on the back of contract announcements and, even though the share price slumped 34.7% to 3.8p.

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Engineering services Renew Holdings (LON: RNWH) has a solid track record, but this has been knocked by the timing of the rail renewal programmes. Rail is nearly two-fifths of revenues. The timing of the renewal spending is uncertain, and Peel Hunt has reduced its 2023-24 earnings forecast by 10% to 63.6p/share, down from 65.9p/share the previous year. The water business has been strong, and the order book is growing. The share price dived 22.6% to 703.5p.

Premier African Minerals (LON: PREM) has raised £540,000 at 0.02p/share. This is interim funding following the decision not to proceed with the fundraising at 0.0275p/share because the retail offer did not raise enough to reach a total raising of £3.5m. The company will require more cash and I talking to its offtake partner. The share price dipped 16% to 0.021p.

Communications and reputation software provider Pulsar Group (LON: PULS) says growth accelerated in Europe and North America in the second half, but Asia trading weakened. Annualised recurring revenues edged up to £61.7m. Reported revenues will be lower than expected. Cavendish has reduced its 2023-24 pre-tax profit expectations from £2.8m to £2.4m. The share price fell 5.05% to 51.75p.

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