These were the worst performing ASX 200 shares last week

NRW Holdings Limited (ASX:NWH) and Netwealth Group Ltd (ASX:NWL) shares were among the worst performers on the ASX 200 last week…

| More on:
businessman sitting at desk with head in hands in front of computer screens with falling financial charts, asx recession

Image source: Getty Images

A disappointing end to the week led to the S&P/ASX 200 Index (ASX: XJO) wiping out all its weekly gains and more. The benchmark index ultimately ended the week 0.2% lower at 6,793.8 points.

While a number of ASX 200 shares dropped with the market, some fell more than others. Here’s why these were the worst performers:

NRW Holdings Limited (ASX: NWH)

The NRW share price was the worst performer on the ASX 200 with a decline of 15%. Investors were selling the contractor’s shares following the release of its half year results. For the six months ended 31 December, the contractor reported a 44% increase in revenue to $1,168 million and a 28% lift in EBITDA to $132.8 million. However, on the bottom line the company posted a disappointing 17% decline in net profit to $29 million. This was driven largely by a significant increase in depreciation.

GWA Group Ltd (ASX: GWA)

The GWA share price wasn’t far behind with a decline of 14.9% last week. The catalyst for this was the release of a disappointing half year result by the leading provider of water solutions products and systems. For the half, the company reported a 4.4% decline in revenue to $197.2 million. Management advised that this reflects an overall decline in market conditions. Things were even worse on the bottom line, with normalised net profit after tax falling 17% to $20 million.

Northern Star Resources Ltd (ASX: NST)

The Northern Star share price was out of form and dropped 13.9% over the five days. This appears to have been driven by a broker note out of Morgan Stanley last week. After updating its financial models to reflect the merger with Saracen Mineral, the broker has reiterated its underweight rating and put a $12.95 price target on the company’s shares. Though, it is worth noting that the Northern Star share price has now dropped below this price target.

Netwealth Group Ltd (ASX: NWL)

The Netwealth share price was a poor performer and dropped 13.8% lower last week. Investors were selling the investment platform provider’s shares despite it delivering strong growth during the first half. For the six months ended 31 December, the company recorded a 30.1% increase in EBITDA to $40.5 million. This was driven by strong growth in Netwealth’s funds under administration over the last 12 months. Concerns over its second half margins may have been weighing on its shares.

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 over ten 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 January 12th 2022

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Netwealth. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Fallers

Person with thumbs down and a red sad face poster covering the face.
Share Fallers

These were the worst performing ASX 200 shares last week

These ASX 200 shares were out of form last week...

Read more »

Red arrow going down on a stock market table which symbolises a falling share price.
Share Fallers

Why Australian Vanadium, John Lyng, Nufarm, and Unibail-Rodamco-Westfield are dropping

These ASX shares are ending the week in the red...

Read more »

Red arrow going down and symbolising a falling share price.
Share Fallers

Why Nufarm, Pendal, Wesfarmers, and Westpac shares are sinking

These ASX shares are falling on Thursday...

Read more »

A man in a business suit plunges down a big square hole lit up in blue.
Technology Shares

The BrainChip share price just plunged 8%, what happened?

BrainChip shares were down 8% at one point today. What on earth is going on?

Read more »

Man with his head on his head with a red declining arrow and A worried man holds his head and look at his computer as the Megaport share price crashes today
BNPL shares

Zip share price dives to yet another multi-year low

The Zip share price is copping another hammering so far this Thursday...

Read more »

Concept image of US dollar in front of a graphic showing shares and a downward arrow representing the VTS ETF

Vanguard US Total Market Shares Index ETF tumbles following Wall Street sell-off

This Vanguard ETF is feeling the pain today. Here's why...

Read more »

Share Fallers

Why Boral, Eagers Automotive, PolyNovo, and Serko shares are dropping

These ASX shares are under pressure on Wednesday...

Read more »

Rede arrow on a stock market chart going down.
Share Fallers

Why Brambles, James Hardie, Seek, and Sezzle shares are sinking

These ASX shares are under pressure on Tuesday...

Read more »