In early afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a disappointing decline. At the time of writing, the benchmark index is down 0.95% to 7,279.3 points.
Four ASX shares that are not letting that hold them back are listed below. Here’s why they are pushing higher:
CSL Limited (ASX: CSL)
The CSL share price is up 1.5% to $282.00. This morning analysts at Ord Minnett retained their hold rating on the biotherapeutics company’s shares but lifted their price target by 5.2% to $280.00. The broker is confident the company’s plasma collections will recover by the end of the year, albeit with higher collection prices.
Humm Group Ltd (ASX: HUM)
The Humm share price is up over 6% to $1.04 after releasing a business update. According to the release, the financial services company had a strong finish to the financial year. As a result, it expects to report a FY 2021 cash net profit after tax of $68.4 million. This will be an increase of 121.1% on the prior corresponding period.
IntelliHR Ltd (ASX: IHR)
The IntelliHR share price has jumped 11% to 24.5 following the release of its fourth quarter update. According to the release, the HR technology company finished the financial year in a very positive fashion, reporting $1 million in new contracted business. This was a 236% increase on the same period in FY 2020. This ultimately underpinned the doubling of its annualised recurring revenue in FY 2021.
Vulcan Energy Resources Ltd (ASX: VUL)
The Vulcan share price is up 2% to $9.50. Investors have been buying the lithium explorer’s shares on Monday after it announced its first offtake agreement. According to the release, Vulcan has signed an initial five-year agreement starting in 2025 with LG Energy Solution for battery grade lithium hydroxide. LG Energy Solution is the largest producer of lithium-ion batteries for electric vehicles in the world. The agreement is for 5,000 metric tonnes in the first year and then 10,000 tonnes each year thereafter.