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    WBT   AU000000WBT5

WEEBIT NANO LIMITED

(WBT)
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RESEARCH: Weebit Nano Moving Forward On Multiple Fronts

09/23/2020 | 07:28pm EDT

As the company's technology is maturing, Pitt Street Research predicts a re-rating for Weebit Nano shares

Weebit Nano ((WBT)) filed several patents recently to protect the IP of its silicon oxide (SiOx) Resistive Random Access Memory (ReRAM) technology.

WBT, along with its research partner Leti, filed a very valuable patent that enables the company to develop an effective programming algorithm to implement multi-level capability in any OxRAM technology.

This patent will enable the implementation of multi-level programming taking into account typical physical shifts of the levels, which is common to ReRAM.

After programming ReRAM cells, the ReRAM experiences a slight shift in its resistivity levels due to natural physical phenomena.

Weebit's programming algorithm takes this shift into account and thus works with its "true" resistivity level and not the theoretical one.

The MLC technology allows more data per unit area, leading to higher memory storage capacity and lower cost.

We believe this patent provides a vital competitive edge to WBT. The other two patents filed relate to reducing the select transistor size, which will enable production of smaller, lower-cost embedded memory modules.

Cashed up for commercialisation

WBT is moving towards 'productisation' and has completed the first stage of 'stabilisation', which was focussed on making the process repeatable and consistent.

This stage has improved the maturity of WBT's technology, increasing cell-to-cell uniformity, leading to higher yields (more good dies (chips) per wafer).

Further, WBT recently completed a $9.1m capital raise with the potential for another $19.7m from the exercise of in-the-money options by investors.

The funds will assist WBT in simultaneously supporting its growth plans for the embedded and stand-alone memory modules. Management aims to sign commercial agreements by Q2 2021, which we believe will significantly drive investor interest in the stock.

Valuation of $1.36 per share

WBT has successfully continued its development progress on multiple fronts, such as R&D and pre-production, despite the setbacks of COVID-19.

This reaffirms our confidence in management's ability and the technology's potential. We continue to expect strong upside potential for this stock and reiterate our intermediate valuation of $1.36 per share.

Following the recent share price moves, we expect the stock to further re-rate if and when the company succeeds in closing its initial commercial agreements, expected in 1HY21.

Download the full report

Earlier today the report above was released by Pitt Street Research for which FNArena is a partner in distribution. The full report can be accessed here:

https://www.fnarena.com/index.php/pitt-street-research/WBT/

FNArena is proud about its track record and past achievements: Ten Years On

All material published by FN Arena is the copyright of the publisher, unless otherwise stated. Reproduction in whole or in part is not permitted without written permission of the publisher.

© 2020 Acquisdata Pty Ltd., source FN Arena

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Financials (USD)
Sales 2021 1,00 M - -
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 178 M 178 M -
Capi. / Sales 2021 178x
Capi. / Sales 2022 44,5x
Nbr of Employees -
Free-Float 93,6%
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Technical analysis trends WEEBIT NANO LIMITED
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Consensus
 
Mean consensus -
Number of Analysts 2
Average target price 4,31 AUD
Last Close Price 1,89 AUD
Spread / Highest target 152%
Spread / Average Target 129%
Spread / Lowest Target 106%
Managers and Directors
NameTitle
Jacob Hanoch Chief Executive Officer, MD & Executive Director
Alla Felder Chief Financial Officer
David Perlmutter Non-Executive Chairman
Ilan Sever Vice President-Research & Development
Ishai Naveh Chief Technology Officer
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