##{"id":88864,"date":"2020-09-24T09:28:24","date_gmt":"2020-09-23T23:28:24","guid":{"rendered":"https:\/\/www.fnarena.com\/?p=88864"},"modified":"2020-09-24T09:28:24","modified_gmt":"2020-09-23T23:28:24","slug":"research-weebit-nano-moving-forward-on-multiple-fronts","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2020\/09\/24\/research-weebit-nano-moving-forward-on-multiple-fronts\/","title":{"rendered":"RESEARCH: Weebit Nano Moving Forward On Multiple Fronts"},"content":{"rendered":"

As the company's technology is maturing, Pitt Street Research predicts a re-rating for Weebit Nano shares<\/em><\/p>\n

By Pitt Street Research<\/p>\n

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

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.<\/p>\n

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

After programming ReRAM cells, the ReRAM experiences a slight shift in its resistivity levels due to natural physical phenomena.<\/p>\n

Weebit's programming algorithm takes this shift into account and thus works with its “true” resistivity level and not the theoretical one.<\/p>\n

The MLC technology allows more data per unit area, leading to higher memory storage capacity and lower cost.<\/p>\n

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.<\/p>\n

Cashed up for commercialisation<\/strong><\/p>\n

WBT is moving towards ‘productisation’ and has completed the first stage of ‘stabilisation’, which was focussed on making the process repeatable and consistent.<\/p>\n

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).<\/p>\n

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.<\/p>\n

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.<\/p>\n

Valuation of $1.36 per share<\/strong><\/p>\n

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

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.<\/p>\n

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.<\/p>\n

Download the full report<\/strong><\/p>\n

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:<\/p>\n

https:\/\/www.fnarena.com\/index.php\/pitt-street-research\/WBT\/<\/a><\/p>\n

Find out why FNArena subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n

FNArena is proud about its track record and past achievements: Ten Years On<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"