The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) may be going through a bit of a slump right now, but it hasn’t stopped several shares from zooming higher. In fact, some have even surged to 52-week highs today.
Three that caught my eye are listed below, here’s why they are on a high:
The Hansen Technologies Limited (ASX: HSN) share price reached a 52-week high of $4.60 on Thursday. The billing software company’s shares have been on a strong run since the release of its half-year results in February. Hansen reported an impressive 36% increase in operating revenue to $118.4 million and a 47% increase in net profit after tax and amortisation to $22.7 million. The acquisition of Enoro, a Nordic-based provider of customer information systems and data management systems, played a key role in the strong performance. I think Hansen is looking about fair value now, but could still be a good option for buy and hold investors.
The Mastermyne Group Limited (ASX: MYE) share price rocketed to a new high of $1.14 today despite there being no news out of the mining services company for almost three months. But as the company works within the coal industry and coal prices are red hot at the moment, investors appear to believe Mastermyne’s services will be in demand. In February management stated that it expects to achieve the higher end of its FY 2018 revenue guidance of $180 million to $200 million.
The Sealink Travel Group Ltd (ASX: SLK) share price continued to climb higher on Thursday and reached a new 52-week high of $4.46. Investors have been fighting to get hold of the travel company’s shares after it confirmed that it received an unsolicited $4.75 cash per share takeover offer from an undisclosed company. The approach was rejected but it appears that some investors expect the suitor to return with a better offer.
One of the world’s richest people is sounding the alarm on what could be a trillion-dollar technology.
And when a tech billionaire – several times over – speaks, it pays to listen.
This could be your chance to get in on the ground floor!
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Hansen Technologies. 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.