Swedish tech company stands out in markets with uncertainty

September 28, 2022
Anders Søndergaard

September 28, 2022
Anders Søndergaard

Developments during the week at the Nordic growth exchanges

The Kapital Partner Nordic Growth Exchanges (KPNGX) index fell 6% last week. The Swedish S30 index fell 3.4% while the Danish C25 index dropped as much as 5.7%. Since January 1, 2020, both the KPNGX index and the Thomson Reuters Venture Capital Index have fallen about 10%. The development of Nordic growth stock markets since 1 January 2020 thus corresponds to the development of venture at international level. Year to date, the KPNGX index has fallen 41%, while the Thomson Reuters Venture Capital Index has fallen 56%. 146 out of 913 companies in the KPNGX index delivered a positive return last week. The 3 best performing stocks on the Nordic growth exchanges were Kiliaro AB (+274%), Enersize Oyj (+63%) and Cyber Security 1 AB (+29%). The worst performing stock of the week was Redwood Pharma AB, down 62%.

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:

**^{The positive percentage shows the proportion of companies within the indices that delivered a positive return during the week.}**

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Sector development the past week

All sectors were hard hit. Least worst were utilities and academic & educational services, which fell 4.5% and 4.4% respectively. In contrast, basic materials, health care, consumer non-cyclicals and energy all fell more than the KPNGX index, with energy coming last with a 10.5% drop. It is noteworthy that the fall coincides with a major turmoil in the energy markets.

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

Kiliaro AB (+274%) operates in the technology sector. The company has developed an application for image galleries. The user can automatically share, view and interact with other users, which mainly consist of private actors. In addition to the main business, various additional services are offered within the company’s digital platform.

The increase comes on the back of Kiliaro being pre-installed in all new mobile phones from Turkish mobile manufacturer Reeder going forward, meaning that the Kiliaro app will be pre-installed in around 1.2 million mobile phones annually. The company has a market capitalisation of SEK 32 million and its share price has fallen almost 5% after a sharp rise in the past week.

Share price development of Kiliaro AB year to date

Enersize Oyj (+63%) is a Finnish IT company that develops software for various forms of data collection and analysis. The services are used in industrial compressed air systems with the aim of increasing energy savings for the company’s customers. The customers are in a variety of industries such as automotive, steel and electronics.

Enersize last week signed an agreement for system analysis of a compressed air system at a dairy in Skåne. Enersize Oyj has a market capitalisation of SEK 23 million and the share price has fallen 57% year to date.

Share price development of Enersize Oyj year to date

Cyber Security 1 AB (+29%) provides security solutions. The company’s products are offered to the public and private sectors with a focus on cyber security. The product portfolio includes solutions for data leakage, information systems, monitoring and other network services for the management function.

The company has a market capitalisation of EUR 16 million and its share price has fallen 42% year to date.

Share price development of Cyber Security 1 AB year to date

Developments during the week on First North Denmark

The Kapital Partner First North Danmark (KPFNDK) index fell 1.1% last week. The KPFNDK index is one of the best performing stock indices in the Nordic region relative to the other indices year to date. However, since 1 January 2020, the index has delivered a negative return, marginally worse than the KPNGX index. Only the larger indices, C25 and S30 have delivered a positive return since their inception on. 1 January 2020, and the S30 is only marginally higher than the index 100, with the C25 still slightly higher.

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

10 out of 51 companies in the KPFNDK index delivered a positive return. OrderYOYO A/S was the winner of the week with an increase of 17%. Hypefactors A/S and Danish Aerospace Company A/S followed with increases of about 16%. Alefarm Brewing A/S and Astralis A/S were among the worst performing stocks of the week on First North Denmark after both fell 14%. Shape Robotics A/S, however, was the worst performing stock of the week after a 15% drop. Shape Robotics is one of the few stocks on First North Denmark to have risen year-to-date (+14%).

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: OrderYOYO A/S

OrderYOYO A/S (17%) is active in the IT sector. The company specialises in the development of software solutions specifically adapted to the restaurant industry. The software is proprietary and used mainly for order placement, payment solutions, marketing and administration. Its customers are mainly restaurants and other eating establishments. In addition to the main business, various value-added services are offered.

The company has a market capitalisation of 526MDKK and the share price has fallen 52% year to date.

Price chart of OrderYOYO A/S year to date

Developments during the week for the Nordic healthcare stocks

The Kapital Partner Healthcare (KPHC) index fell 8% during the week. 46 out of 293 companies in the index rose during the week. Selectimmune Pharma AB (+22%) was the gainer of the week. Herantis Pharma Oyj and Alzecure Pharma AB also rose to the top among Nordic healthcare stocks after increases of 16%. Redwood Pharma AB was the worst performer, falling 62%.

KPHC index development since 01.01.2020

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

Best performing heathcare stock of the week in the Nordics: Selectimmune Pharma AB

SelectImmune Pharma AB (+22%) is a pharmaceutical company. The company aims to develop drug candidates with a focus on endogenous inflammatory agents and bacterial molecules. The products aim to strengthen the immune system and are primarily used for the treatment of infectious diseases and chronic inflammation.

The company has a market capitalisation of SEK 91 million and the share price has fallen 37% year to date.

Price development for SelectImmune AB vs. the KPHC-index year to date

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