Hotel Chocolat Group Share Price Forecast July 2021 – Time to Buy HOTC?
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Shares of chocolatier and cocoa grower company Hotel Chocolat Group (LSE: HOTC) are in red today after the company placed a 2.7% discount on the closing price of Wednesday. It makes investors wonder if this is a good time to buy HOTC shares.
Hotel Chocolat Group – Technical Analysis
According to the financial statement released by Hotel Chocolat Group, the company has a market cap of £459.472M while its total assets are worth £177.187M. The revenue of the company was £136.29M in 2020 compared to £132.48M in 2019. The market was closed on July 22 at £360 with a downtrend of -1.37%.
You can get more insight from the technical information of HOTC. Moving Averages like Exponential Moving Average (10)(370), Simple Moving Average (10)(374), Volume Weighted Moving Average (20)(376), and Hull Moving Average (9)(362) are pointing towards selling. Oscillators such as MACD Level (12, 26)(-0), and Momentum (10)(-8) are also pointing towards a sell action, while Williams Percent Range (14)(-67), and Stochastic RSI Fast (3, 3, 14, 14)(15) are being neutral.
67% of all retail investor accounts lose money when trading CFDs with this provider.
Recent Developments
In May 2021, Hotel Chocolat Group received funding from UK Government and decided to repay coronavirus job retention. The company’s revenue for the eight-week period went up 19% compared to what it was in 2019. In June 2021, the company announced the acquisition of loss-making beauty products Joint Venture.
From April to June, group sales grew 34% and revenue went up to 21%. In 2021, the company expects over 50% of sales coming from partners, digital, and subscription-continuity models. On July 22, Hotel Chocolat Group announced that the company aims to raise up to £40M through placing a discounted share. The share is announced to be priced at £3.55.
The company secured a two-year revolving credit facility of £30M with Lloyds Bank as well. It will replace an undrawn £25M covid-19 big business disruption loan scheme of the government. On Thursday’s close, HOTC shares declined more than 1%.
Should You Buy HOTC Shares?
From an investor’s point of view, you need to pay attention to the rewards and risks of purchasing a share. Hotel Chocolate Group’s shares are at discounts at this moment, and the share price has been dropping. The technical indicators are also not providing a green signal. All Moving Averages are giving a strong selling verdict, while the oscillators are either pointing towards selling or being neutral. So, it does not look like a good time to purchase HOTC shares. What you need to do is keep observing the share prices, and if you notice an uptrend and buy signals from indicators, then you may go for it.
Buy Hotel Chocolat Group Shares at CedarFX, the World’s #1 trading platform!
