AIM-listed battery technology company Ilika PLC (AIM:IKA, OTCQX:ILIKF)’s “very upbeat” capital markets day, to use broker Liberum’s words, has been met with a solid reaction, with shares sent 8% higher on Wednesday.
Ilika outlined “impressive operational progression” over the past 12 months, said analysts, with financial reports setting the stage for a “robust liquidity position” in the year ahead.
This underlines management’s “ ongoing prudent approach to capital discipline”, said Liberum, while “the partnership with Cirtec was of particular importance to investors”.
Analysts were also heartened by Ilika’s net cash position, which is expected to be £11 million at year-end.
As for Ilika’s breakthrough Goliath battery program, Liberum analysts called it “an important milestone as it means that the Goliath solid state pouch cell is now able to "match the representative energy density of lithium-ion pouch cells”.
Liberum reiterated its buy rating on the stock with a 65p target price against a 28p publication price.