What's next for battered Ezion after its sharp share price plunge?

Its share price has fallen 22% in just one month.

Investors have punished Ezion for being in the oil services sector. The liftboat builder's share price has fallen by 22% in just one month, but Macquarie Research believes that the market is overlooking several key catalysts for the stock.

Macquarie noted that all of Ezion's 37 vessels have firm contracts from national oil corporations (NOCs), and cancellations are unlikely for these boats.

The report also pointed out that liftboats are part of the “production phase” of capex and hence less risky, unlike oil rigs or support vessels.

"Ezion has now fallen well below its bear case, in our view. For investors looking for a beaten down, fundamentally strong, liquid and cheap stock, we think they should look no further,” stated Macquarie.