These 3 small cap ASX shares are on the rise on Tuesday

The Freelancer Ltd (ASX:FLN) share price is one of three on the rise at the small end of the market on Tuesday. Here's why…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Australian share market has returned to form on Tuesday and is pushing higher in afternoon trade.

Three small cap shares that have caught the eye today with solid gains are listed below. Here's why they are on the rise:

The BOD Australia Ltd (ASX: BDA) share price has jumped 8.5% to 58 cents after the cannabis company announced that it has successfully dosed its ECs315 cannabis extract in a sublingual wafer. This shows that CBD can be delivered into a patient's bloodstream using its patented wafer system. Management believes the study provides a proof of concept for Bod's cannabis sublingual wafer delivery system. It advised that the trial will now progress to assess absorption rates of the wafer compared to other delivery methods and products.

The Dacian Gold Ltd (ASX: DCN) share price has risen 8% to $2.31. This morning the gold miner was the subject of a positive broker note out of the Macquarie equities desk. According to the note, the broker has held firm with its outperform rating and $3.10 price target despite a soft quarterly production update on Monday. The broker is positive on Dacian due to its exploration pipeline and the ramp up of its Mt Morgans operation.

The Freelancer Ltd (ASX: FLN) share price has pushed 7.5% to 58 cents following the release of its quarterly update. In the third quarter of FY 2018 the company saw quarterly cash receipts rise 4% on the prior corresponding period to $13 million. This was driven by a 12% increase in Gross Marketplace Volume to $32 million and an increase in registered users to above 30 million. In addition to this, management advised of positive developments in relation to its membership fees. It explained that "the business is now cycling the large drop in membership fees that has been the primary drag on revenue in recent periods, which was the result of a conscious decision to cancel paid memberships of customers that were not receiving value from the plans and promoting a lower end plan by default."

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Freelancer Limited. 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 Share Gainers

Ten smiling business people wave to the camera after receiving some winning company news.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a wonderful Wednesday session for investors today...

Read more »

Ecstatic man giving a fist pump in an office hallway.
Share Gainers

Why AGL, Bravura, Computershare, and Evolution Mining shares are roaring higher today

These shares are having a good time on hump day. But why?

Read more »

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX 200 managed a gain today, but only just.

Read more »

A woman with strawberry blonde hair has a huge smile on her face and fist pumps the air having seen good news on her phone.
Share Gainers

Why Evolution Mining, Macquarie, Ramsay, and SGH shares are pushing higher today

These shares are having a good session on Tuesday. Let's see what is getting investors excited.

Read more »

A young man talks tech on his phone while looking at a laptop. A financial graph is superimposed across the image.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors had a rough start to the trading week this Monday.

Read more »

A steel worker peers out from under his protective headwear which is tipped back on his head as he stares solemnly straight ahead with steel production equipment in the background.
Share Gainers

Why is everyone talking about BlueScope Steel shares on Monday?

It seems Trump's tariffs have winners as well as losers...

Read more »

Two lab workers fist pump each other.
Healthcare Shares

Guess which ASX 300 healthcare stock just rocketed 20% on BIG earnings growth

Investors are piling into the ASX 300 healthcare stock on Monday. But why?

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why Ansell, GQG, Mayne Pharma, and Star shares are charging higher today

These shares are starting the week on a positive note. But why?

Read more »