There are a number of ASX All Ords shares catching the eye of investors on Tuesday with big moves.
Two such shares are listed below. Here's why they are on the move (in opposite directions) today:
Bubs Australia Ltd (ASX: BUB)
The Bubs share price is up 6% to 17.5 cents. This follows the release of the junior infant formula company's first quarter update.
According to the release, Bubs reported gross revenue of $24.3 million for the three months ended 30 September. This was up 3.4% on the prior corresponding period and 21.7% on the fourth quarter of FY 2023.
The key driver of its growth was its USA business, which delivered a 41% increase in revenue over the prior corresponding period to $17.5 million. This helped offset the more than halving of China's revenue to just $3.8 million.
Another positive was that Bubs' operating cash outflow was reduced to $4.4 million during the quarter as working capital and cost discipline initiatives were implemented. This left Bubs with a cash balance of $21.6 million at the end of September.
Cooper Energy Ltd (ASX: COE)
The Cooper Energy share price is down 4.5% to 10.5 cents. Investors have been selling this ASX All Ords energy share following the release of its quarterly update.
Cooper Energy reported production growth of 3% quarter on quarter to 5.51 PJe. This supported a 4% increase in revenue to $50.8 million.
However, this couldn't stop the company's cash balance from falling from $77.1 million at the end of June to $47.5 million at the end of September. Management is aiming to address this with a cost out initiative, which is underway with a focus on the G&A component but also a broader cost base.
