Sorry @nessy - I added a link to the same report myself an hour or two ago before I saw this straw from you (just now) and realised you had beaten me to it (by quite a few hours) while I was at my day job (12:30pm to 9pm this evening). Next time I'll read through what's been posted by the community in recent hours (since I last looked) before posting any new content myself.

I was quite chuffed to see Moelis doing a bullish report on EVS. It would have been relatively easy to present a bull case for Mader Group (MAD) who they also released a broker report on during the last week, with MAD's SP heading all bottom left to top right, but with EVS in a strong downtrend since mid-August (19 to 9 cents), I reckon Envirosuite are a harder sell, as in harder to sell them as a "buy" to the market.

I reckon there are two types of investors (there are way more than two types obviously, but I just want to talk about these two types here and now), the first type being the type who invest in themes (thematic investing or sector investing) or on the basis of hot tips or advice from others, and the second type who do a decent amount of research themselves and are less inclined to panic and sell when a company they hold has a declining share price. The first type are always concerned that the market knows something that they don't know, and are far more likely to jump at shadows. The second type are best explained by a quote I read here recently, which I'm probably going to butcher or mutilate now, but it went something like this - The degree of share price volatility you are happy to accept is often in direct proportion to the amount of due dilligence (or research) you have done on the company before you bought their shares. Which is all to say that people who have done a reasonable amount of research are less worried that everybody else knows something that they either haven't thought of, or don't know, or haven't accepted yet.

Anyway, these types of reports, that are bullish on a company with a falling share price, are helpful in settling the nerves of the first type, and they also provide a handy source of confirmation bias for the second type.

Disclosure: I hold EVS shares, both here and IRL.