Due to some real success stories, the scale segment has run away from DAX, MDAX and TecDAX 2020. Fintech, streaming, eco funds, software or biotech - the winners come from future industries.
15 January 2021. FRANKFURT (Börse Frankfurt). In 2020, the Scale segment already outperformed large and mid caps, and in the new year, it is once again clearly on the rise: After two weeks of trading in 2021, the Scale All Share marks 1,546 points, up from 1,461 at the end of 2020. Last year, the Scale All Share scored with a plus of 35 percent. By contrast, the DAX rose by only 3.5 percent, the MDAX by 6 percent and the TecDAX by 18 percent.
At the peak, the share prices increased sixfold
The Scale 30 selection index also starts the new year with gains and is at 1,588 on Friday morning after 1,523 points at the end of 2020. Performance leaders of the segment on a twelve-month view remain The Naga Group (DE000A161NR7), Cliq Digital (<DE000A0HHJR3>), Ökoworld (DE0005408686), EQS Group (DE0005494165) and Media and Games Invest (<MT0000580101>).
Shareholders of the fintech company The Naga Group have gained 568 percent since January 2020, while those of the streaming provider Cliq Digital have gained 490 percent. At the provider of ethical-ecological funds Ökoworld it is still 187 percent, at the software company EQS Group 138 percent and at the investment company Media and Games Invest 119 percent.
Profit taking on Corona medication hopefuls
Formycon (DE000A1EWVY8), the high-flyer from the first half of December, fell sharply again from mid-December, but the share has since recovered somewhat. News of the development of a SARS-CoV-2 blocker called FYB207 had driven the share price up to €72.80, currently €63. Shares in IBU-tec advanced materials (DE000A0XYHT5), the specialist for thermal process technology and rotary kilns, which rose sharply in the fourth quarter, also weakened recently.
The share of Ernst Russ AG (DE000A161077), formerly HCI Capital, recorded significant price gains in recent weeks. The price has doubled since the beginning of December to currently €1.68. The company had announced in November that it would divest its Assetando Real Estate subsidiary, which specializes in real estate fund and asset management, and focus entirely on "maritime" investments, i.e. ships. The largest scale loss-makers on a one-year view are currently Vectron Systems, Cyan, Pantaflix, Deutsche Rohstoff AG and mVise.
"Strong performance profile" from Formycon, "high share price potential" at Naga
Incidentally, analyst firm First Berlin sees further potential for Formycon and has raised its price target from €43 to 78 (currently €63) with an unchanged "buy" rating. It is true that the development of novel drugs is riskier than the biosimilar development pursued before Corona, the analysts wrote. However, past successes and Formycon's proven expertise in antibody technology suggest that the risk is low.
The Naga Group also has supporters: GBC yesterday raised its price target sharply from €4.30 to €7.03 (currently €4.16), citing the high growth momentum in 2020 and the significantly better-than-expected outlook for 2021. In addition to the generally favorable market environment characterized by high volatility and thus high transaction activity, the implemented focus and restructuring have borne fruit, it says. "Despite the significant share price increase in 2020, there is still a high share price potential," it said.
Further recommendations for scale shares
Analysts | Scale companies | Recommendation | Targe price in € | Current share price in € |
SMC Research | Lloyd Fonds | Buy | 11,30 | 6,95 |
GBC | MagForce | Buy | 11,00 | 5,00 |
GBC | Deutsche Grundstücksauktionen | Buy | 19,50 | 16,80 |
GBC | HELMA Eigenheimbau | Buy | 63,40 | 44,90 |
from Anna-Maria Borse
© 15 January 2021, Deutsche Börse AG