BUZZ-Australia's SomnoMed surges to near 1-1/2-year high on forecast upgrade

Reuters
24 Jan
BUZZ-Australia's SomnoMed surges to near 1-1/2-year high on forecast upgrade

** Shares of SomnoMed SOM.AX rise 6.7% to A$0.64

** Stock rose as much as 10% to A$0.66, its highest level since Aug 21, 2023

** Medical device manufacturer upgrades EBITDA forecast at A$7 mln-A$9 mln ($4.40 mln-$5.65 mln) for fiscal 2025, from previous forecast of A$7 mln

** Co, specialising in sleep disorders, logs group revenue A$28.5 mln for Q2 vs A$23.7 mln from the same period last year

** More than 257,000 shares change hands vs 30-day avg volume of around 166,000 shares

** Stock down 38% YTD, including current session's moves

($1 = 1.5924 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10