Circus SE Insider Buys €10,758 of Stock After Revenue Guidance Slashed by Nearly 90%
Published on 07/22/2026 at 18:33 | Redaktion boerse-global.de
Circus SE's shares continue to slide a full week after the Berlin-based robotics company delivered a shock profit warning that wiped out the bulk of its 2026 revenue forecast. The stock changed hands at €1.99 on Wednesday, down 3.73% from the prior session's close of €2.06, extending a seven-day rout that has erased 58.54% of the company's market value. The current market capitalization stands at €55.87 million.
The carnage traces back to a mandatory disclosure on July 16, when Circus slashed its full-year revenue outlook from an original target range of €44 million to €55 million down to just €5.2 million — a reduction of roughly 88% at the midpoint. The company also widened its expected adjusted EBITDA loss to approximately €17 million, compared with a prior forecast of minus €6 million to minus €8 million. Management attributed the drastic revision to delayed system deliveries being pushed into 2027, telling investors during a second-quarter operational update call that it wanted to ensure unit economics were viable before pursuing broad-scale deployment.
Analyst reactions were swift and severe. On July 17, mwb research cut its price target from €46.00 to €8.40 and downgraded the stock from "Buy" to "Speculative Buy." Three days later, Montega AG delivered an even steeper reassessment, lowering Circus from "Buy" to "Hold" and slashing its target to €2.20 from €10.00, citing both the profit warning and operational scaling challenges.
Should investors sell immediately? Or is it worth buying Circus?
In a move that adds a layer of complexity to the narrative, supervisory board member Dr. Jan-Christian Heins purchased 5,003 shares on July 21 at an average price of €2.15, for a total outlay of roughly €10,758. The insider buy came just days after Circus reshuffled its leadership: on July 6, the company appointed Christian Bauer — a former Volocopter and Daimler executive — as co-CEO and CFO, while previous CFO Fabian Becker moved to the supervisory board of subsidiary Circus Defence SE.
Despite the financial turmoil, Circus reported operational progress alongside its profit warning. Autonomous catering systems entered live service for the 3rd Assault Brigade of Ukraine's ground forces in the Kyiv region after receiving regulatory certification in Ukraine. Earlier in July, the company completed its acquisition of Belgian food-robotics specialist Alberts, adding compact robotic solutions to its portfolio. Circus also secured ECAS regulatory certification from the United Arab Emirates' Ministry of Industry and Advanced Technology on July 1, paving the way for commercial rollout in Abu Dhabi. The company had previously closed the full acquisition of US-Israeli firm K-Robotics in April, a deal that secured over 30 patents in supply robotics and was intended to accelerate US market entry.
The technical picture offers little comfort for bulls. The relative strength index stands at 14.8, deep in oversold territory, reflecting the sustained selling pressure that has gripped the stock since the guidance revision.
Shareholders will have their first opportunity to grill management since the warning at Circus's annual general meeting on August 16. The central questions are likely to focus on whether the dramatically lowered revenue forecast holds any margin of safety, and how the new leadership team intends to execute on the delayed system deliveries now slated for 2027.
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Circus Stock: New Analysis - 22 July
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