Huddlestock Fintech (OB:HUDL) - Share price, News & Analysis

HUDL fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	6/6
Past Performance	0/6
Financial Health	3/6
Dividends	0/6

HUDL Stock Overview

Huddlestock Fintech AS, a fintech company, develops and implements software as a service-solutions for custody banks, asset managers, and trading venues.

Rewards

Earnings are forecast to grow 90.63% per year

Revenue grew by 438.2% over the past year

Risk Analysis

Has less than 1 year of cash runway

Less than 3 years of financial data is available

Shareholders have been diluted in the past year

Does not have meaningful revenue (NOK32M)

+ 1 more risk

Huddlestock Fintech Competitors

Norwegian Block Exchange

OB:NBX

kr268.2m

MyBank

OTCNO:MYBANK

kr211.3m

Saga Pure

OB:SAGA

kr1.1b

HitecVision

OTCNO:HITV

kr3.4b

Price History & Performance

Summary of all time highs, changes and price drops for Huddlestock Fintech
Historical stock prices
Current Share Price	kr2.80
52 Week High	kr4.38
52 Week Low	kr2.26
Beta	0
1 Month Change	2.94%
3 Month Change	-17.16%
1 Year Change	-28.21%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	21.74%

Shareholder Returns

	HUDL	NO Capital Markets	NO Market
7D	-0.7%	-0.8%	0.6%
1Y	-28.2%	-19.1%	9.4%

Return vs Industry: HUDL underperformed the Norwegian Capital Markets industry which returned -19.1% over the past year.

Return vs Market: HUDL underperformed the Norwegian Market which returned 9.4% over the past year.

Price Volatility

Is HUDL's price volatile compared to industry and market?
HUDL volatility
HUDL Average Weekly Movement	6.4%
Capital Markets Industry Average Movement	4.7%
Market Average Movement	6.6%
10% most volatile stocks in NO Market	12.3%
10% least volatile stocks in NO Market	3.7%

Stable Share Price: HUDL is not significantly more volatile than the rest of Norwegian stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: HUDL's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2018	61	John Skajem	https://huddlestock.com

Huddlestock Fintech AS, a fintech company, develops and implements software as a service-solutions for custody banks, asset managers, and trading venues. It offers digital boarding, client communication, reporting, order execution, and portfolio management services; business analysis, software design, and development and project management services; and financial consultancy and technology services. The company also operates Bedrock, a connectivity SaaS API platform for online trading and brokerage; and Apex platform to provide wealth tech solutions.

Huddlestock Fintech Fundamentals Summary

How do Huddlestock Fintech's earnings and revenue compare to its market cap?
HUDL fundamental statistics
Market Cap	kr360.48m
Earnings (TTM)	-kr21.83m
Revenue (TTM)	kr31.92m

11.3x

P/S Ratio

-16.5x

P/E Ratio

Is HUDL overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
HUDL income statement (TTM)
Revenue	kr31.92m
Cost of Revenue	kr24.74m
Gross Profit	kr7.18m
Other Expenses	kr29.00m
Earnings	-kr21.83m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 18, 2022

Earnings per share (EPS)	-0.17
Gross Margin	22.48%
Net Profit Margin	-68.38%
Debt/Equity Ratio	9.3%

How did HUDL perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is HUDL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

Price-To-Book vs Peers
Price-To-Book vs Industry
Price-To-Book vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HUDL?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for HUDL. This is calculated by dividing HUDL's market cap by their current preferred multiple.
What is HUDL's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	kr360.48m

HUDL key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	11.3x
Enterprise Value/EBITDA	-45.3x
PEG Ratio	n/a

Price to Book Ratio vs Peers

How does HUDL's PB Ratio compare to its peers?

HUDL PB Ratio vs Peers

The above table shows the PB ratio for HUDL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PB	Estimated Growth	Market Cap
Peer Average	2.6x
NBX Norwegian Block Exchange	3.3x	n/a	kr268.2m
MYBANK MyBank	0.9x	n/a	kr211.3m
SAGA Saga Pure	1x	n/a	kr1.1b
HITV HitecVision	5x	n/a	kr3.4b
HUDL Huddlestock Fintech	3.2x	90.6%	kr360.5m

Price-To-Book vs Peers: HUDL is expensive based on its Price-To-Book Ratio (3.2x) compared to the peer average (2.6x).

Price to Earnings Ratio vs Industry

How does HUDL's PE Ratio compare vs other companies in the European Capital Markets Industry?

Price-To-Book vs Industry: HUDL is expensive based on its Price-To-Book Ratio (3.2x) compared to the European Capital Markets industry average (1.1x)

Price to Book Ratio vs Fair Ratio

What is HUDL's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HUDL PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	3.2x
Fair PB Ratio	n/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate HUDL's Price-To-Book Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of HUDL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate HUDL's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate HUDL's fair value for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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Future Growth

How is Huddlestock Fintech forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

6/6

Future Growth Score 6/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

90.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: HUDL is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.1%).

Earnings vs Market: HUDL is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: HUDL is expected to become profitable in the next 3 years.

Revenue vs Market: HUDL's revenue (43.6% per year) is forecast to grow faster than the Norwegian market (-0.5% per year).

High Growth Revenue: HUDL's revenue (43.6% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: HUDL's Return on Equity is forecast to be high in 3 years time (23.2%)

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Past Performance

How has Huddlestock Fintech performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-95.9%

Last years earnings growth

Earnings and Revenue History

Quality Earnings: HUDL is currently unprofitable.

Growing Profit Margin: HUDL is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: Unable to establish if HUDL's year-on-year earnings growth rate was positive over the past 5 years as it has been trading publicly for less than 3 years.

Accelerating Growth: Unable to compare HUDL's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: HUDL is unprofitable, making it difficult to compare its past year earnings growth to the Capital Markets industry (21.7%).

Return on Equity

High ROE: HUDL has a negative Return on Equity (-19.38%), as it is currently unprofitable.

Discover strong past performing companies

Financial Health

How is Huddlestock Fintech's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: HUDL's short term assets (NOK27.4M) exceed its short term liabilities (NOK26.4M).

Long Term Liabilities: HUDL's short term assets (NOK27.4M) exceed its long term liabilities (NOK11.3M).

Debt to Equity History and Analysis

Debt Level: HUDL's net debt to equity ratio (3.1%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if HUDL's debt to equity ratio has reduced over the past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: HUDL has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if HUDL has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.

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Dividend

What is Huddlestock Fintech current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate HUDL's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate HUDL's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if HUDL's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if HUDL's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as HUDL has not reported any payouts.

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Management

How experienced are the management team and are they aligned to shareholders interests?

3.7yrs

Average board tenure

CEO

John Skajem (59 yo)

no data

Tenure

John Egil. Skajem serves as Head of Investment Banking of Orion Securities. Mr. Skajem served as Managing Director of Kaupthing Norge, a subsidiary of Kaupthing Bunadarbanki. He joined Kaupthing Bank in 20...

Board Members

Experienced Board: HUDL's board of directors are considered experienced (3.7 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 7.9%.

Data	Last Updated (UTC time)
Company Analysis	2022/08/18 00:00
End of Day Share Price	2022/08/18 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31