Dec 3, 2022

Investment bank WOOD & Company updates report on HansaMatrix, maintaining its BUY recommendation

Following HansaMatrix 9-month 2022 financial result announcement, WOOD & Company has updated analysis and forecasts report, maintaining their ‘buy’ rating on the stock. The report indicates that the Company’s potential is greater than currently reflected in the share price, estimating price target per share in amount of EUR 9.10.

The updated report on HansaMatrix has been published under a research programme supported by the EBRD to cover companies listed on the Nasdaq Baltic* and available publicly free of charge to every interested investor on the programme’s website:

HansaMatrix announced in Q4 2020 that, based on HansaMatrix’s memorandum of understanding with Nasdaq Riga, the research program, supported by the European Bank for Reconstruction and Development (EBRD), to cover companies listed on the Nasdaq Baltic will also include HansaMatrix research coverage for two years.

Following the successful launch of its dedicated research program in May 2020, in support of the development of small- and medium-sized enterprises (SMEs), the EBRD was expanding the initiative to the Baltic states.

Funded by the Taiwan Business-EBRD Technical Cooperation Fund, the program provides research coverage for a set of SMEs listed on the stock exchanges in Bulgaria, Croatia, North Macedonia, Romania, Serbia and Slovenia. The reports are publicly available, free of charge, on the program’s website,

The aim is to produce free, publicly available, high-quality research reports, in order to overcome the information barriers that depress market liquidity. Making markets more transparent by increasing the amount of reliable information is regarded as key for increasing the availability of financing for SMEs.

The two-year research program is being conducted by WOOD & Company, an investment bank specializing in emerging markets. The program is fully aligned with the objectives of the European Commission’s Action Plan on Building a Capital Markets Union, which specifically mentions improving access to finance, including risk capital, notably for SMEs, as one of the five priority areas.

The full text of a joint announcement from the EBRD and Nasdaq Baltic exchanges: research program to cover companies listed on the Nasdaq Baltic, available here (

* Nasdaq Baltic is a common name for exchanges, regulated markets, alternative markets First North operated by Nasdaq companies in the Baltic states, i.e. Nasdaq Tallinn AS, Nasdaq Riga AS and AB Nasdaq Vilnius.