The share price of AIM listed satellite group Avanti Communications (LSE: AVN) was marked down by 10% yesterday. Oh no! Is bear raider Evil Knievil right after all? Is there an institution bailing? The emails flooded in. Evil is not correct. A director has bought shares this morning and there is also an upbeat broker research note out from Cenkos this morning. If there was something amiss then Avanti would have had to declare it at its recent AGM. It did not.
My own support for Avanti is well known. The stock was a share tip from me at 116p on t1ps.com but I continue to value it at a multiple of today’s 223p – a market cap of £251 million.
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