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Getech Group (GTC) Shares Rise On Sale of Data and Studies

Sam Boughedda
Sam Boughedda trader
Updated 30 Jun 2021

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Getech Group plc's (LON: GTC)

Shares of Getech Group (LON: GTC) are climbing after the company revealed it has made a “significant” sale of its geoscience data and a regional study package.

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The company, which provides geoscience data, software and analytic products and services to the energy industry, said the value of the package is $536,000.

The sale is expected to be fully recognised in the current financial year, with the company continuing “to trade in line with current market expectations for FY2021.”

“Getech’s geoscience data, which includes gravity and magnetic data that we have gathered over decades, are a unique and proprietary resource that underpin our knowledge and analytic products and services,” said Getech’s CEO, Jonathan Copus.

“We expect increased demand for our geoscience data, software and analytic products as both existing energy and natural resource customers and new customers work to decarbonise the energy sector,” he added.

Following the announcement, Getech’s share price is up over 2% at 25p, adding to their year to date gains of 96.7%.

Should you invest in Getech shares?

Getech shares are traded on the London stock exchange’s AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Getech shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies

Sam Boughedda
Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.