Why these 4 ASX stocks are soaring today

NIB Holdings Limited (ASX:NHF) is one of the market's biggest winners today.

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The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on track for another weekly gain after rising 1% during today's session. However, a number of companies are generating even greater gains for investors, including these four:

Senetas Corporation Limited (ASX: SEN) has endured a tough couple of months on the market, but it has rebounded 16.7% today to trade at 17.5 cents. Although there is no company-specific news to explain the lift, it's possible that investors are simply taking advantage of the company's beaten-down price. Senetas provides high-speed data encryption hardware designed to protect data travelling between sites.

Fortescue Metals Group Limited's (ASX: FMG) short sellers (those who have bet on its share price falling) might be developing a nervous twitch now – the shares are up another 4.6%, giving them a total gain of 44% since late last month. Today's gains can likely be attributed to yesterday's quarterly production report, which showed further cost reductions during the period.

NIB Holdings Limited (ASX: NHF) surged 7.9% with its shares now trading at $3.42. The rally comes after the private health insurance business agreed to buy the medical insurance book of OnePath Life for $22.6 million, boosting its exposure to the New Zealand market. Although it is still subject to regulatory approval, the acquisition would give it a customer base of more than 200,000 New Zealanders.

Liquefied Natural Gas Ltd (ASX: LNG) rose as much as 13.4% earlier in the session, but has since given up most of those gains to trade 5.2% higher at $1.61 per share. Although oil prices fell overnight, they have regained ground today with Brent crude oil fetching a little more than US$50 a barrel. As liquefied natural gas prices are linked to oil prices, LNG Ltd relies on higher oil prices to make its projects economically viable.

Motley Fool contributor Ryan Newman owns shares of Senetas. Ltd.. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. You can follow Ryan on Twitter @ASXvalueinvest. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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