UGE International
UGE:TSXV; UGEIF:OTC
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Sophic Insights
A Particularly Taxing Time for Canadian Micro- and Small-Cap Stocks
After a strong start, 2021 obliterated Canadian sub-$100 million market cap stocks. As of November 30, the median stock in this group was trading at only ~38% of its 52-week highs.
Not down 38% – DOWN 62%!
As Jeff Bezos said over 20 years ago:
“The stock is not the company. And the company is not the stock.”
The same is true for THIS list of Canadian micro- and small cap names that have been pounded by 2021 tax loss selling.
UGE Backlog Continues to be Undervalued
Industry valuations of solar projects under development suggest that UGE International’s current 83.7MW project backlog is undervalued.
UGE’s goal of 120MW of project backlog by the end of 2021 makes the Company’s current undervaluation even more compelling.
Applying peer transactions to UGE’s 357MW (net of backlog) pipeline potentially puts the stock in future multi-bagger territory.
Market Undervalues UGE Versus Peer Transactions
After strong shareholder returns in 2020, 2021 could be another strong year for UGE International, a developer and operator of community solar projects (mostly in the U.S.). Why? Compared to solar project peer transactions, the market is undervaluing UGE shares. Plus, almost C$7 million was added to UGE’s balance sheet this week, in an oversubscribed offering.
UGE Sells Solar Facility Well Above Current Implied Valuation
UGE International announced the sale of one of its completed solar projects (AND 3 new ones AND the completion of another).
Last week, Sophic Capital wrote that solar projects under construction have sold for multiples much higher than what the market values UGE International.
UGE’s project sale multiple shows that the market still undervalues the Company.
Company Tweets
Don't miss out @UGE_Intl Will be releasing their anticipated Q1 2022 financial results after market close today - May 25! Spring outing w/ the #NYC team ft. ferry rides, lawn games, and two mediocre photos because we were too busy having fun😎Interested in joining our cool & smart team on a mission to make #renewableenergy affordable and accessible for all? We're #hiring! https://lnkd.in/d9s2372s Through #CommunitySolar colleges & universities can go solar without any capital expenditure or risk. In fact, by serving as a project host the institution will earn lease revenue which can be reinvested in the school. Thanks @CICU for featuring our work! https://bit.ly/3KNkcQ6 CICU #AffiliateOfTheMonth for May is @UGE_Intl. #CommunitySolar is coming to Norway, #Maine! The 1 megawatt solar garden, set to begin construction this summer, will be built atop a capped landfill. https://www.solarpowerworldonline.com/2022/04/uge-developing-1-mw-community-solar-maine-landfill/ @SolarAccess @EcologyBased @SolarPowerWorld @SolarKelseyM UGE developing 1-MW community solar project on capped Maine landfill https://www.solarpowerworldonline.com/2022/04/uge-developing-1-mw-community-solar-maine-landfill/ @UGE_Intl Everyday is #earthday at UGE! Proud of all the hard work our team puts in each day to build a #sustainable energy future. There are many ways to join us on our mission to make #renewableenergy accessible and affordable for all. Learn more & get involved: https://ugei.com/
Stay tuned as well - the day after when UGE will have a conference call to discuss the results!
#GreenEnergy $UGE.V $UGE #Invest
https://bit.ly/3wGaZVY
Click on the link below to learn about their work for colleges and universities.
https://ugei.com/wp-content/uploads/2022/04/Community-Solar-for-Higher-Ed-2022-2.pdf
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