The Scale segment, which was launched in 2018, is living up to its name as a growth market. Since the fall of 2020, it has even been on a steep upward trend. The segment contains some real success stories and outperforms the DAX and MDAX by a long way.
16 February 2021. FRANKFURT (Börse Frankfurt). While the DAX has only hesitantly finally broken through the 14,000 point mark and has barely risen over a twelve-month period, Scale All Share and Scale 30 are scoring points with a completely different performance. The two indices, which track small and medium-sized companies, are climbing from all-time high to all-time high and have now risen by 51 and 44 percent respectively since February 2020. By contrast, the DAX has only gained just under 3 percent over this period, while the MDAX has gained 13 percent.
The steep rise that began in November has also continued in the new year: The Scale All Share is at 1,760 points at noon on Tuesday after 1,461 at the end of 2020, the selection index Scale 30 at 1,777 after 1,523 points.
Naga and Cliq Digital with share price rally
Performance leaders since February 2020 are The Naga Group (DE000A161NR7) and Cliq Digital (<DE000A0HHJR3>). Media and Games Invest (<MT0000580101>), Ökoworld (DE0005408686) and IBU-tec advanced materials (DE000A0XYHT5) now follow in third to fifth place.
Shareholders of fintech The Naga Group are up 920 percent over a twelve-month period, while those of streaming provider Cliq Digital are up 508 percent. At the investment company Media and Games Invest it is still 259 percent, at the provider of ethical-ecological funds Ökoworld 240 percent and at the service provider for thermal process engineering IBU-tec 237 percent.
Naga with price doubling since the beginning of the year
Naga is one of the stocks pulling the segment up again this year. Naga shares were trading at €7.95 at midday on Tuesday, double the price at the end of 2020. Naga had reported record figures for the new year after a very successful 2020: In January, Naga set a new monthly record for trading volumes and transactions and a peak in new filings.
Shareholders of biotech company Formycon (DE000A1EWVY8) and container ship investment manager Ernst Russ AG (DE000A161077) can also rejoice. Formycon has developed a SARS-CoV-2 blocker called FYB207, and the stock has recently jumped again, now trading at 77.60 euros. Before the announcement of the development success in December, it was only 33 euros. The Ernst Russ AG share has more than tripled since the beginning of November to currently 2.12 euros.
Buy tips for Cliq Digital, Media & Games Invest
Analysis firms specializing in small and medium-sized companies continue to see many opportunities in the scale segment. Thus, the analyst firm Montega has confirmed its buy recommendation for Cliq Digital after the announcement of the figures for the fourth quarter. Cliq has continued the strong operational development of the previous quarters and (over)fulfilled the expectations of the analysts. As a price target, they name 28 euros (currently 25.00).
The takeover of the US game developer KingsIsle Entertainment by Media & Games Invest, announced on January 18, has prompted GBC to confirm the buy recommendation and to significantly increase the price target from 3.20 to 5.15 euros (currently 4.13). The acquisition should provide additional growth impetus within the gaming segment and, due to the expected high synergy effects, also have a significantly positive effect on earnings, it says.
SMC Research, on the other hand, no longer sees much upside potential for 2G Energy: following the first figures for 2020 from the provider of combined heat and power plants, the analysts have raised the price target to 93.60 euros, but are sticking with the "hold" rating. The share has already anticipated the good development with a strong performance in recent months and is even trading slightly above the new price target. 2G Energy cost 50 euros a year ago, now it is 95 euros. First Berlin is more optimistic, citing a price target of 103 euros and recommending a buy. "In view of the increasing social and political pressure due to advancing climate change, we believe it is quite possible that policymakers will have to close an electricity gap from 2023 onwards in the short term and in the most climate-friendly way possible," the analysts write. Decentralized CHP plants, such as those built by 2G, are one of the few solutions for this, they say.
Further analyst recommendations for scale shares
Bank | Scale-Company | Advice | Price target in Euro | Current price in Euro |
GBC | Helma Eigenheimbau | Buy | 64,14 | 48,90 |
GBC | Magforce | Buy | 11,00 | 4,75 |
GSC Research | Scherzer & Co. | Buy | 2,95 | 2,68 |
Warburg | Blue Cap | Buy | 34,00 | 22,30 |
SRC Research | Publity | Buy | 55,00 | 34,80 |
SMC-Research | Noratis | Buy | 30,60 | 20,20 |
SMC-Research | Pantaflix | Speculative buy | 2,90 | 1,49 |
from Anna-Maria Borse
© 16. Februar 2021, Deutsche Börse AG