ClearVue Technologies Limited

CPV Details

Quarterly Highlights (For the Period Ended 30 September 2020): ClearVue Technologies Limited (ASX: CPV) is an Australian technology company that operates in the Building Integrated Photovoltaic (BPIV) sector. It involves the use of solar technology in building surfaces, specifically glass and building façades, to provide renewable energy. As on 23 November 2020, the market capitalization of the company stood at ~$43.05 million. During the quarter ended 30 September 2020, the company issued 26,973,260 fully paid ordinary shares at a price of $0.095 and raised ~$3.04 million. The company has also completed the construction with finishing work and interior fit-out works at villa at Hebei province, China. During the quarter, the company received an R&D tax credit of ~$487k from the Australian Tax Office. At the end of the quarter, the company used $893k from operating activities and reported a cash balance of ~$2.78 million.

Construction Commenced on World-First Solar Glass Greenhouse: The company has recently started construction of the CRC-P partially funded greenhouse on site at Murdoch University and expects to complete the major construction by the end of the 2020. This is likely to result in the global market awareness of the company’s product and technology. 

CPV Receives Order for 500 sqm of Product from Brazil: The company has received its first order for 500sqm for IGU product for projects in Brazil from AMB Brasil Comercio E Servicos Eireli. This is the largest order of CPV to date and demonstrates proof of product-market fit for its technology.

FY20 Financial Highlights: During FY20, the company focused on the commercialization of its technology and entered several Memorandums to further development and distribution of its products in Australia, Europe, Middle East, and South Africa. During the year, the company reported a decline in total revenue to $1.13 million from $1.60 million in FY19. However, loss for the year went down to $2.04 million from $3.85 million in FY19. This was mainly due to prudent cost management.

FY20 Financial Highlights (Source: Company Reports)

Stock Recommendation: During FY20, the company progressed on multiple fronts and built solid sales and leads pipeline. As per ASX, the stock of CPV is trading very close to its 52-weeks’ high of $0.33 and seems to have reached its market potential. The stock of CPV gave a return of 93.54% in the past three months and a return of 5.26% in the last one month. On a technical front, the stock of CPV has a support level of ~$0.208 and a resistance level of ~$0.384. Considering the current trading levels, key investment risks, softer market conditions and quarterly highlights, we suggest investors to book profit on the stock and give a ‘Sell’ rating at the current market price of $0.300 on 23 November 2020.

CPV Daily Technical Chart (Source: Refinitiv, Thomson Reuters)

Disclaimer  

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated pages are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as personalised advice.