In early afternoon trade the S&P/ASX 200 index has fought back from its morning declines and is pushing ever so slightly higher. At the time of writing the index is up a few points to 6,583.1 points.
Four shares that are climbing more than most today are listed below. Here’s why they have zoomed higher:
The Freedom Foods Group Ltd (ASX: FNP) share price has continued its strong run and is up a further 5% to $5.56. As well as being boosted by a stronger than expected full year result, the diversified food company’s shares were recently given a major lift from a bullish broker note out of Goldman Sachs. According to the note, Goldman added the diversified food company’s shares to its conviction buy list with an improved price target of $6.80.
The iSignthis Ltd (ASX: ISX) share price has raced over 9% higher to $1.32. The neobank and regtech company’s shares have been charging higher again following the release of its half year results late last month. Although it made a loss before interest and tax of $0.3 million, its profitability is expected to improve significantly in the second half. So much so, management has maintained its EBIT guidance for FY 2019 of $10.7 million.
The Volpara Health Technologies Ltd (ASX: VHT) share price has pushed higher again and is up 4.5% to $1.59. On Monday the medical technology company released a trading update and revealed that it is on course to achieve annual recurring revenue (ARR) of NZ$17.1 million and a 27% footprint in the United States in FY 2019. The former will be a 158% increase on FY 2018’s ARR.
The Western Areas Ltd (ASX: WSA) share price has zoomed higher again and is up a further 8% to $3.06. The nickel producer’s shares have been on fire this week after nickel prices surged to their highest levels in a number of years following an announcement by the Indonesian government which revealed that it would ban exports of raw ore in December. As Indonesia is the world’s largest nickel producer this could have significant ramifications for supply in the near term.
5 stocks under $5
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended VOLPARA FPO NZ. The Motley Fool Australia has recommended Freedom Foods Group 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.
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