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Why these 3 small cap shares are pushing higher today

While solid gains from the likes of Metcash Limited (ASX: MTS) and South32 Ltd (ASX: S32) may take the headlines this morning, there have been some equally strong gains being made a small end of the market.

Three that caught my eye are listed below. Here’s why they have pushed higher:

The Change Financial Ltd (ASX: CCA) share price has moved almost 6% higher to 92 cents after the mobile banking company released its latest quarterly update. According to the release, the company’s consumer offering now has over 160,000 customers using its award-winning platform. This led to customer deposits for the quarter growing by 19% quarter-on-quarter to US$22.9 million. In addition to this, management advised that its enterprise solution is progressing towards its launch and it has secured enterprise agreements with Central Bank of Kansas City, MasterCard, and Discover Financial Services subsidiary, Pulse.

The Clean Seas Seafood Ltd (ASX: CSS) share price has pushed 3.5% to 5.8 cents after the seafood company announced that its sales revenue year-to-date as of the end of the third quarter was $30.9 million. This is an increase of 23% on the prior corresponding period and I feel it puts Clean Seas Seafood in a strong position to achieve its full year sales revenue guidance of between $43 million and $47 million. A combination of increased sales volumes and better prices were behind the strong performance. In addition to this, the company announced that its new SensoryFresh products are being launched in international markets this month.

The Fastbrick Robotics Ltd (ASX: FBR) share price is up 5% to 20.5 cents in early trade. This morning the robotics company announced that EY-Parthenon has completed its research into the global addressable market for its Hadrian X construction robot. According to the data, 140,000 to 150,000 Hadrian X’s would be required to build all low-rise buildings globally in 2018. Management has decided to target a minimum of 2% of the addressable market for Hadrian X over the next five years. While no details were given in terms of the projected value of the market, I expect it could prove to be a lucrative one.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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 Scott Phillips.

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