Overhang removed: None-operative co-founder Nathan Skwortsow’s remaining block of Physitrack shares was placed off-market on Aug 22, clearing the “wet blanket” that had pressured the stock despite solid fundamentals.
Price reaction: The block was transacted at SEK 16.20; shares quickly rebounded to SEK 18.50 as selling pressure lifted, with new reputable investors entering the register.
Attractive upside: Fundamentals remain intact, and with the overhang resolved, we expect the price to reflect value better. Our SOTP analysis points to an intrinsic value of SEK 26 per share using conservative assumptions, offering a wide margin of safety.
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