Recycling company on top at Nordic growth exchanges

Last week was marked by a predominantly negative mood on the Nordic emerging markets, but as always there are interesting stocks with big price jumps.

Shares on the Nordic growth exchanges (Kapital Partner Nordic Growth Exchanges Index/ KPNGX) fell 1% last week. By comparison, the Swedish S30 index rose 1.5% while the Danish C25 index rose 2.6%. The winning Nordic stock of the week was a green conversion company with a return of 97%.

Since 1 January 2020, both the KPNGX index and the Thomson Reuters Venture Capital Index have fallen approximately 11-13%. The development of the Nordic growth stock market thus corresponds to the development of the venture sector. Year to date, the KPNGX index has fallen 45%, while the Thomson Reuters Venture Capital Index has fallen 58%.

KPNGX index development since 01.01.2020

The KPNGX index consists of all listed companies on the Nordic growth exchanges, including Nasdaq First North Growth Market, Spotlight Stock Market and EuroNext Growth.

The sentiment on the Kapital Partners index last week

Nordic growth stocks were mostly negative last week. On the Nordic growth exchanges as a whole, 350 out of 908 stocks rose, while the figure was 23 out of 51 stocks on First North Denmark and 113 out of 293 for Nordic healthcare stocks. Thus, there was a predominantly negative development.

Sector development the past week

Financials fared best during the week, rising 3.2%, while Basic Materials and Academic & Educational Services also advanced. Energy was the worst performer, falling 3.8%. Year to date, however, the Energy sector has fared best in the wake of the energy crisis with a fall of 11.4%, while Healthcare has fallen the most with -48%.

The 3 best performing stocks on the Nordic growth exchanges last week

CirChem AB (+97%) specialises in solvent recycling and purification. The solvents are either sold back to industry or used to produce other products such as detergent. CirChem has a recycling plant in Vargön and its customers are mainly in the industrial and pharmaceutical sectors.

Last week, the company signed an agreement with the largest distributor of liquid chemicals in the Nordic region (Titab Pac). CirChem AB has a market capitalisation of SEK 44 million and the share price has fallen 84% year to date.

Share price development of CirChem AB year to date

Transferator AB (+73%) is an investment company that invests in unlisted and listed growth companies. The company invests in a number of industries in the Nordic market and is primarily active in the gaming industry. Transferator has previously owned, inter alia, Mr Green.

The company has a market capitalisation of SEK 119 million and the share price has risen 87% year to date. The increase was based on trading volume of only about SEK75,000.

Share price development of Transferator AB year to date

Alzinova AB (+65%) is a biotechnology company specialising in the therapeutic treatment of Alzheimer’s disease and researching and developing peptides for further development as vaccines. The company’s lead drug candidate, ALZ-001, has reached phase 1b.

The company has a market capitalisation of SEK 92 million and the share price has fallen 73% since the start of the year.

Share price development of Alzinova AB year to date

Developments during the week on First North Denmark

The Kapital Partner First North Danmark (KPFNDK) index fell 0.4% last week. The KPFNDK index is one of the best performing stock indices in the Nordic region year to date with -21% compared to KPNGX (-45%) and C25 (-24%). As can be seen from the graph, the performance of First North Denmark, the Nordic growth stock exchanges and the venture index is broadly similar since 1 January 2020 – albeit negative in the 13-15% range.

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KPFNDK index development since 01.01.2020

KPNFNDK-index consists of all stocks on Nasdaq First North Denmark

Developments during the week on First North Denmark at company level

Bactiquant A/S was the winner of the week with an increase of 18%. Conferize A/S and Hypefactors A/S followed with increases of around 12%. The three companies have all had negative year-to-date returns in the 21-25% range. LED iBOND International AS, on the other hand, was the worst performing stock of the week with -13%, and is also the worst performing stock on First North Denmark this year with a decline of 78%.

Development on First North Denmark last week and year to date

The X-axis shows the percentage change over the past week, while the table on the right shows the year-to-date return for each company.

Best performing stock of the week on First North Denmark: Bactiquant A/S

Bactiquant A/S (18%) has developed a technology used to monitor bacteria levels in water and to ensure the use and management of water resources. The company supplies customers in the global market, which consists mainly of large industrial companies that need water cooling and wastewater treatment.

The company last week signed an agreement with Chilean Initi Spa to act as a sales channel for Bactiquant in Chile. The company has a market capitalisation of 133MDKK and its share price has fallen 24% year to date.

Price chart of Bactiquant A/S year to date

Developments during the week for the Nordic healthcare stocks

Nordic healthcare stocks (Kapital Partner Healthcare Index/KPHC) have really taken a beating in 2022, falling around 49%. Last week, the KPHC index fell 1.7%, with the aforementioned Alzinova AB (65%) making up the top 3 along with Implantica AG (36%) and Sprint Biosciences AB (28%). Obstecare AB was the worst performer, down 72%.

KPHC index development since 01.01.2020

The KPHC-index consists of all healthcare stocks in the Nordics.

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