Why Aerometrex, Healius, Megaport, & Temple & Webster shares are pushing higher

Healius Ltd (ASX:HLS) and Temple & Webster Group Ltd (ASX:TPW) shares are two of four pushing higher despite the market selloff..

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man walking up line graph, into clouds, representing asx shares at an all time high

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The S&P/ASX 200 Index (ASX: XJO) is out of form on Thursday and sinking notably lower in late morning trade. At the time of writing, the benchmark index is down 1.2% to 6,119.3 points.

Four shares that have not let that hold them back today are listed below. Here’s why they are pushing higher:

Aerometrex Ltd (ASX: AMX)

The Aerometrex share price is up 3% to $1.34 after announcing a new product. The aerial mapping company has developed a new technology that is able to determine, in three dimensions, the exact fuel load densities in any bushfire prone region in Australia. It believes the breakthrough should allow users to adopt a far more science-based and pre-emptive fuel load strike position ahead of this year’s bushfire season.

Healius Ltd (ASX: HLS)

The Healius share price has climbed 6% higher to $3.65. Investors have been buying the healthcare company’s shares after the release of its first quarter update. That update revealed that Healius recorded revenue of $492.5 million and underlying earnings before interest and tax (EBIT) of $81.2 million during the quarter. This represents an increase of 17.5% and 150%, respectively, on the prior corresponding period. COVID-19 testing played a key role in this growth.

Megaport Ltd (ASX: MP1)

The Megaport share price is up 1% to $14.72. This appears to have been driven by a broker note out of UBS this morning. The broker has upgraded the leading elastic interconnection services provider’s shares to a buy rating with a $16.45 price target following its first quarter update. It was pleased to see strong growth in new ports during the three months.

Temple & Webster Group Ltd (ASX: TPW)

The Temple & Webster share price has bounced back from a heavy decline on Wednesday and is up 3% to $11.99. This morning analysts at Goldman Sachs retained their buy rating and lifted their price target on the online homewares and furniture retailer’s shares to $12.85. This follows a trading update yesterday which revealed stronger growth than the broker expected. 

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends MEGAPORT FPO. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Temple & Webster Group Ltd. The Motley Fool Australia has recommended MEGAPORT FPO and Temple & Webster Group Ltd. 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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