Following a month-long near 30% gain in its share price, listed Dunedin company Scott Technology has responded to a "please explain" from the stock exchange on a recent 18% dip in price.
During the past month, Scott shares rose 27% from $1.10 to $1.40.
During the past year, its rising share value has been reflected in its market capitalisation almost doubling from $19 million to $34 million.
The NZX query this week on the 25c, or 18%, decline to $1.10, saw Scott respond it knew of no material information to disclose to the markets.
The shares of Scott, which is joint-venturing in meat industry robotics at its Dunedin plant and manufactures assembly lines in Christchurch, were yesterday trading around $1.20, but "thinly" and on low volumes, Craigs Investment Partners broker Chris Timms said.
He said stocks such as Scott were cyclical, as opposed to defensive, and were at present in favour with investors.
In October, Scott returned to after-tax profit of $390,000, following a $1.1 million loss the year before.
At December's annual meeting, its chief executive outlined up to $40 million in orders were under discussion.
Mr Timms noted Scott was "still reaping the benefits" of its acquisition of Auckland-based RockLabs, whose profit before tax was $700,000 last financial year, preceded the year before by a $1.1 million profit.
