The S&P/ASX 200 Index (ASX: XJO) is back on form and pushing higher on Tuesday. At the time of writing, the benchmark index is up 0.35% to 8,601.2 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are racing higher:
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DroneShield Ltd (ASX: DRO)
The DroneShield share price is up 2% to $3.30. Investors have been buying this counter drone technology company's this week after it announced a major increase to its research and development capabilities. DroneShield plans to make a $13 million+ initial investment via a multi-year lease and fitout commitment into a brand new 3,000sqm production facility in Sydney's Alexandria. This will expand its own annual production capacity to $900 million by mid-2026 and a combined total annual manufacturing capacity to $2.4 billion by the end of 2026.
Hansen Technologies Ltd (ASX: HSN)
The Hansen Technologies share price is up almost 6% to $5.61. This software company's shares have been on fire this week after it upgraded its earnings guidance for FY 2025. Due to a quicker than expected turnaround in its Powercloud business, as well as improved operating efficiencies and disciplined cost management, Hansen Technologies' underlying EBITDA is forecast to be between $110 million and $112 million. This is up from its previous guidance range of $92 million to $101 million.
Hub24 Ltd (ASX: HUB)
The Hub24 share price is up 5.5% to $99.77. This morning, this investment platform provider released another strong quarterly update. Hub24 reported Platform funds under administration (FUA) of $112.7 billion. This represents an increase of 10% over the quarter and 34% year on year. Management advised that this was driven by net inflows of $5.3 billion (up 7% on the prior corresponding period) and positive market movements of $4.9 billion. This reflects its continued market leadership, strong customer relationships, and proven ability to execute large, complex migrations.
Paladin Energy Ltd (ASX: PDN)
The Paladin Energy share price is up 5% to $7.50. The catalyst for this may have been a broker note out of Bell Potter this morning. According to the note, the broker has retained its buy rating on the uranium producer's shares with an improved price target of $9.20. It said: "We have upgraded our price target to A$9.20/sh (previously $6.50) and maintain our Buy recommendation. We believe PDN will re-rate over the coming quarters, as the business shakes off negative earnings sentiment over FY25, predicated on fresh ore processing outperforming the stockpile issues which plagued FY25."
