Multiple signals firing — flagged for pre-raise, narrative drift, tone decliner. Worth a closer look. Tone trajectory is deteriorating (below → → → ); last update 2026-05-07. Macro backdrop: recovery.
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Multiple signals firing — flagged for pre-raise, narrative drift, tone decliner. Worth a closer look. Tone trajectory is deteriorating (below → → → ); last update 2026-05-07. Macro backdrop: recovery.
| Signal / Date | Status | Detail | Indicator |
|---|---|---|---|
| Composite signals | |||
| Multi-channel | Decliner flagged | Tone deteriorating across multiple channels — flagged decliner in AIM. 2 of 3 channels in agreement | tone -22.0 · broker 0.0 · director -60.0 · sector 22.0 |
| Tone trajectory | deteriorating | Tone has been deteriorating. most recent 2026-05-07 · 21 statements in last 180d | |
| Distress | Not flagged | Not flagged for distress. | |
| Pre-raise | Flagged | Active hype-language pattern — historically precedes equity raises (1.32× baseline). Hype-language density 0.0 per 1k words across recent disclosures. RNS cadence alone isn't a signal — buybacks and routine reporting can dominate; this measures language patterns, not announcement count. 17.0 RNS/month | |
| Narrative drift | Drifted | Narrative has drifted significantly from this company's historical baseline (1.4σ). Recent disclosures sit 1.4 standard deviations from this company's own historical narrative (4 recent vs 56 historical announcements compared). narrative drifted 1.4σ (mild)recent-vs-historical cosine 0.74 | |
| Broker actions — last 90 days (4) | |||
| 2026-05-08 | reiteration | RBC Capital Marketssector perform | GBX 150 |
| 2026-04-28 | — | EXANE BNPoutperform | — |
| 2026-03-04 | reiteration | Berenberg BankBuy | 205p |
| 2026-03-04 | reiteration | RBC Capital MarketsSector Perform | 150p |
| Director deals — last 90 days (1; 1 sale) | |||
| 2026-03-18 | Sale | Peter Egan229,113 shares | £3.0k |
| Backdrop | |||
| UK macro regime | recovery | UK cycle classification: recovery (76% confidence). | See macro indicators → |
Tone deteriorating across multiple channels — flagged decliner in AIM.
2 of 3 channels in agreement
Tone has been deteriorating.
most recent 2026-05-07 · 21 statements in last 180d
Not flagged for distress.
Active hype-language pattern — historically precedes equity raises (1.32× baseline).
Hype-language density 0.0 per 1k words across recent disclosures. RNS cadence alone isn't a signal — buybacks and routine reporting can dominate; this measures language patterns, not announcement count.
Narrative has drifted significantly from this company's historical baseline (1.4σ).
Recent disclosures sit 1.4 standard deviations from this company's own historical narrative (4 recent vs 56 historical announcements compared).
RBC Capital Marketssector perform
EXANE BNPoutperform
Berenberg BankBuy
RBC Capital MarketsSector Perform
Peter Egan229,113 shares
Multiple signals firing — flagged for pre-raise, narrative drift, tone decliner. Worth a closer look. Tone trajectory is deteriorating (below → → → ); last update 2026-05-07. Macro backdrop: recovery.
| Signal / Date | Status | Detail | Indicator |
|---|---|---|---|
| Composite signals | |||
| Multi-channel | Decliner flagged | Tone deteriorating across multiple channels — flagged decliner in AIM. 2 of 3 channels in agreement | tone -22.0 · broker 0.0 · director -60.0 · sector 22.0 |
| Tone trajectory | deteriorating | Tone has been deteriorating. most recent 2026-05-07 · 21 statements in last 180d | |
| Distress | Not flagged | Not flagged for distress. | |
| Pre-raise | Flagged | Active hype-language pattern — historically precedes equity raises (1.32× baseline). Hype-language density 0.0 per 1k words across recent disclosures. RNS cadence alone isn't a signal — buybacks and routine reporting can dominate; this measures language patterns, not announcement count. 17.0 RNS/month | |
| Narrative drift | Drifted | Narrative has drifted significantly from this company's historical baseline (1.4σ). Recent disclosures sit 1.4 standard deviations from this company's own historical narrative (4 recent vs 56 historical announcements compared). narrative drifted 1.4σ (mild)recent-vs-historical cosine 0.74 | |
| Broker actions — last 90 days (4) | |||
| 2026-05-08 | reiteration | RBC Capital Marketssector perform | GBX 150 |
| 2026-04-28 | — | EXANE BNPoutperform | — |
| 2026-03-04 | reiteration | Berenberg BankBuy | 205p |
| 2026-03-04 | reiteration | RBC Capital MarketsSector Perform | 150p |
| Director deals — last 90 days (1; 1 sale) | |||
| 2026-03-18 | Sale | Peter Egan229,113 shares | £3.0k |
| Backdrop | |||
| UK macro regime | recovery | UK cycle classification: recovery (76% confidence). | See macro indicators → |
Tone deteriorating across multiple channels — flagged decliner in AIM.
2 of 3 channels in agreement
Tone has been deteriorating.
most recent 2026-05-07 · 21 statements in last 180d
Not flagged for distress.
Active hype-language pattern — historically precedes equity raises (1.32× baseline).
Hype-language density 0.0 per 1k words across recent disclosures. RNS cadence alone isn't a signal — buybacks and routine reporting can dominate; this measures language patterns, not announcement count.
Narrative has drifted significantly from this company's historical baseline (1.4σ).
Recent disclosures sit 1.4 standard deviations from this company's own historical narrative (4 recent vs 56 historical announcements compared).
RBC Capital Marketssector perform
EXANE BNPoutperform
Berenberg BankBuy
RBC Capital MarketsSector Perform
Peter Egan229,113 shares