Is it too late to buy these high-flying shares?

The Beach Energy Ltd (ASX:BPT) share price has been flying high this week. Is it too late to invest?

| More on:

On Wednesday the Australian share market pushed higher and edged ever closer to its 52-week high.

While this was good to see, a few shares went one better and actually reached a new high yesterday.

Three that caught my eye are listed below. Is it too late to invest?

The Beach Energy Ltd (ASX: BPT) share price reached an all-time high of $2.00 on Wednesday. The energy producer has been a big winner from rising oil prices and investors have been fighting to get hold of shares. Last month the company provided its FY 2018 production update which revealed that FY 2018 production came in at the high end of its guidance range and capex at the low end of its guidance. While I think Beach is a quality producer with a great portfolio of assets, I wouldn’t be a buyer unless oil prices climbed notably higher from here.

The LiveTiles Ltd (ASX: LVT) share price surged to an all-time high of 75.5 cents on Wednesday before being placed in a trading halt. The artificial intelligence-focused software company has been on fire this year thanks to the growing popularity of its products and its burgeoning partnership with tech giant Microsoft. While I think that LiveTiles has enormous potential, I wouldn’t be a buyer of its shares until the dust settles on its institutional placement. LiveTiles’ shares are currently halted while it raises $20 million at a discount of 59 cents per share.

The Macquarie Telecom Group Ltd (ASX: MAQ) share price raced to a multi-year high of $24.45 on Wednesday. This week the market responded positively to the data centre, cloud, cyber security, and telecom company’s plans to expand its Macquarie Park Data Centre Campus to 43MW from 10MW. It made the decision in order to meet the growing needs of global hyperscalers and cloud, enterprise, and Government customers. While I think these latest gains make it shares about fair value, I still see a lot of value in a long-term buy and hold investment.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

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.

More on 52-Week Highs