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Think Research Corp
Symbol THNK
Shares Issued 65,293,052
Close 2022-11-24 C$ 0.34
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Globe says Dubreuil now at sidelines of Think Research

2022-11-24 09:31 ET - In the News

The Globe and Mail reports in its Thursday edition that Desjardins Securities analyst Jerome Dubreuil has downgraded Think Research to "hold" from "speculative buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Dubreuil slashed his share target to 55 cents from $1. Analysts on average target the shares at 91 cents. Mr. Dubreuil is not liking the dilution from Think Research's most recent financing and warns of the possibility of additional financing requirements. Mr. Dubreuil says in a note, "We continue to see solid tailwinds over the long term for the company, but the recent covenant situation (which has not been fully addressed), our reduced estimates and the significant integration work remaining have us moving to the sidelines for now." On Monday, the digital health care software solutions provider announced it has drawn a second advance (of $3-million) from its convertible facility. It also announced a non-brokered equity financing of $3-million with "confirmed subscriptions for the significant majority." The Globe reported on Aug. 4 and Aug. 31 that Mr. Dubreuil had maintained his "buy" recommendation on Think Research when the shares could be had for 67 cents and 59 cents.

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