January 17, 2022

The Pulse

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– Increased curriculum – E24

Investor Sweat Eagle Larsen points out that prices on Atlantic Sapphire have risen sharply, with the company announcing a one billion kroner raise. He believes the stock price has risen.

Return: Investor Swend Eagle Larson says he tried to get a subscription when he got signals that Atlantic Sapphire would be more expensive to issue. On the same day, he cut shares.

Kent SkipStot / NDP


Atlantic Sapphire, a land-based aquaculture company, announced on Thursday that it would raise NOK $ 1 billion in a share issue targeting Norwegian and international investors. The company raised $ 120 billion, equivalent to Thursday’s closing price, to 98.6 kroner, equivalent to more than one billion kroner.

One respondent after the announcement on Thursday was investor Swend Eagle Larson.

On Twitter, he recently came out with a message referring to the price hike on the Atlantic sapphire, adding “title peck”: “pumping”.

– What did you mean by this?

– Before we knew an issue was coming, they were good at raising prices. It’s interesting that they definitely spend ten days, Larsen tells E24.

In the past ten days, Atlantic Sapphire has risen 24 percent on the Oslo Stock Exchange, according to Inbound Statistics.

E24 has been in contact with the Atlantic conglomerate and asked what they think of the allegations that arose in the run-up to Thursday’s announcement of price hikes.

– Carl Einstein ihawk, CFO at Atlantic Sapphire, writes in an email that, as a representative of a listed company, unfortunately I can never comment on my own stock price.

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Land farmer Atlantic Sapphire will raise one billion kroner

Analysts called the stock the “best choice” on the same day

The company facilitates Arctic Securities AS, Bank of America and DNP markets on this issue.

Through their research departments, all of these investment banks have acquired recommendations for Atlantic sapphire stock and price targets, indicating that the stock will rise sharply.

The most positive analyst was Alexander Jones of the Bank of America. He believes this stock will more than double NOK 200.

The Bank of America or their analyst Jones is not listed on Atlantic Sapphire’s analysts’ website, but E24 Atlantic Sapphire has confirmed that Jones has analytical coverage.

In a note released Thursday, Jones expressed optimism about the Atlantic sapphire.

In a note on the Department of Fisheries, Jones reiterated that Atlantic sapphire is a favorite.

– Our best choices are Atlantic Sapphire, a lead land based breeder and Pacafrost, Jones wrote, pointing out factors he believes are positive about the latter stock.

E24 has been in contact with Jones, but is said to be unable to speak to the media due to guidelines at the bank.

Shares of Atlantic Sapphire rose sharply on the Oslo Stock Exchange on Thursday and closed at NOK 98.6 at the close of trading on Thursday, after rising 4.78 percent for the day.

E24 has also been in contact with Tomos Rice Edwards, a press officer at the Bank of America’s analytics department, but did not answer questions about whether they think today’s reference helped raise prices.

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First abbreviated – then he returned

Larson says he cut Atlantic Sapphire ahead of Thursday’s announcement, meaning there was a bet that stock prices would fall. He says this is his third attempt after failing twice before doing so.

But then he had to throw himself around. He received messages from a broker that the company had been able to raise money and that investors who subscribed during the 98.6 Thursday closing price would not be allowed to join the capital raising.

– I had to subscribe to this issue to cover the short film, says Larson.

He believes the stock will rise, so he had to buy the shares to make up for the loss from the bet that the stock would fall.

– Hope I get an allotment, I ‘ll be angry if I do not get the shares Thursday night Larson says, before the issue is out of the box.

Atlantic sapphire involved in construction The world’s largest land-based fish farm I am from Miami, Florida.

Larson says Atlantic Sapphire has “messed up” money in Florida and it was very clear that they had to replenish the treasures to finance the investment there.

– They got a bank to stock after they told me about the problems, Larsen points out.

Report all All parameters missed

The recent rise in share prices comes on the heels of a sharp fall in the Atlantic sapphire on the Oslo Stock Exchange earlier this year. Prices have fallen 18 percent since the beginning of the year.

Investors were particularly angry after Atlantic Sapphire released its annual report and an update in the first quarter of April. The next day the stock fell 22 percent.

The company had a pre-tax profit of minus $ 55.2 million in 2020, compared to a pre-tax profit of minus $ 13.2 million in 2019.

Fearley analyst Nils Thomsen thought the annual report “missed all parameters” and that first-quarter figures were weak.

Thompson said $ 50-100 million in capital demand is expected for the second phase of Miami’s growth in 2020, as a result of higher costs and lower liquidity from operations.

Earlier, in March of this year, the stock price plummeted after a fault at a plant in Miami, which led to the death of the fish.

Atlantic Salmon was started by Norwegian salmon founders Johann Andreassen and Jrn-Waggard Levic, who are still the main owners of the company.

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