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These small cap ASX shares are surging higher on Tuesday

So far on Tuesday the Australian share market has been unable to build on yesterday’s impressive gain and is down slightly at lunch.

Three small cap ASX shares that have not let that hold them back are listed below. Here’s why they are surging higher on Tuesday:

The Johns Lyng Group Ltd (ASX: JLG) share price has jumped 13% to 92 cents after the integrated building services group announced that it has entered into a partnership with insurance giant Suncorp Group Ltd (ASX: SUN). According to the release, Johns Lyng Group has entered into an exclusive Master Services Agreement with Suncorp that will see it facilitate all domestic property repairs for insurance claims estimated to be greater than $100,000. The company also announced a major new contract win with Yarra Ranges City Council in Melbourne, for a $26 million redevelopment of the Yarra Ranges Civic Centre.

The LiveHire Ltd (ASX: LVH) share price has raced 5% higher to 53 cents after the talent technology company announced an enterprise agreement with Korn Ferry RPO. The agreement will see LiveHire provide its platform to one of Korn Ferry’s clients. The unnamed client is one of the largest diversified real estate groups and the largest community creator in Australia, covering whole of life housing solutions. Management expects the agreement to give its annualised recurring revenues a meaningful boost.

The Nuheara Ltd (ASX: NUH) share price has charged over 10% higher to 8.6 cents after the hearing solutions company announced the completion of an oversubscribed $5 million equity raising. According to the release, the company experienced strong demand from existing and new institutional investors for the 66.6 million shares on issue at 7.5 cents. The funds will be used to increase sales and marketing activities, inventory levels, and to support the manufacture and development of new products.

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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