These 3 small cap companies must be doing something right, with all of them hitting a 52-week share price high this week. Here’s the low down. Polynovo Ltd (ASX: PNV) Medical device company in the dermal rengeration market Polynovo Ltd, has had a solid 12 months of share price gains to sit at a 52-week high today at 61c per share, up from 20c per share at this time last year. The $401 million market cap company develop breast sling, hernia and orthopaedic applications with clinical trials currently underway for a burns product known as NovoSorb. Somewhat of a quiet…
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These 3 small cap companies must be doing something right, with all of them hitting a 52-week share price high this week.
Here’s the low down.
Polynovo Ltd (ASX: PNV)
Medical device company in the dermal rengeration market Polynovo Ltd, has had a solid 12 months of share price gains to sit at a 52-week high today at 61c per share, up from 20c per share at this time last year.
The $401 million market cap company develop breast sling, hernia and orthopaedic applications with clinical trials currently underway for a burns product known as NovoSorb.
Somewhat of a quiet achiever, Polynovo has been steadily making gains in the last year in particular, with a CEO presentation late last year detailing its strategies for expansion through the US, South Africa and Israel.
Polynovo completed a $7 million capital raising via private placement in October 2017, with a further $16 million raised via a share purchase plan to expand its sales and support infrastructure to underpin its global growth strategy.
Biotech companies can be a bit hit and miss, but Polynovo seems to have a solid plan in place to grow its operations while testing and patenting its new technologies.
Sealink Travel Group Ltd (ASX: SLK)
Diversified tourism and transport company Sealink Travel Group shares have rocked up to a 52-week high this week, closing off May 24 at $4.41 before dropping back 2.2% to $4.36 in morning trade today.
Sealink operates under the brands SeaLink and Captain Cook Cruises with packaged holiday offerings, tours and freight operations.
Sealink shares zoomed up from $3.81 on May 22 to $4.20 on May 23 after the company confirmed it had received an unsolicited proposal from a party interested in acquiring 100% of its SeaLink business for $4.75 per share.
Sealink rejected the proposal on the grounds it would not benefit shareholders.
Sealink recently completed its own acquisition of Fraser Island’s Kingfisher Bay Resort Group back in March – a $43 million transaction to take over full operations of the resort from Cosmos Australia Pty Ltd.
Sealink Managing Director Jeff Ellison said the acquisition would give Sealink market share of 90% of accommodation rooms available on Fraser Island.
It is clear the $451 million market cap company has caught the attention of at least one buyer interested in part of its operations, but the company seems determined to continue its planned expansions on its own.
One to watch.
Mastermyne Group Limited (ASX: MYE)
Shares in mining services provider Mastermyne Group have dropped back 3% at the time of writing to $1.10 after hitting a 52-week high on May 24 when its share price shot up to $1.14.
Mastermyne is a $115 million market cap company providing mining services to the Australian coal mining industry through two divisions – Mastermyne and Mastertec.
The emerging player has seen a notable share price surge since this time last year, with today’s price of $1.10 up from just 30c per share at this time last year.
Its half-year results released in February revealed revenue increase of 60% to $91 million, with EBITDA up by 344% to $6.7 million and a net profit of $1.8 million.
Mastermyne is working on the premise that a strong outlook for coal will drive its continued growth, with forecast earnings expected to be higher than forecasts for FY18.
A unique company in a competitive space – one to keep an eye on.
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Motley Fool contributor Carin Pickworth 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.