The S&P/ASX 200 Index (ASX: XJO) is on form and charging higher on Wednesday. At the time of writing, the benchmark index is up 0.6% to 8,758.6 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
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Boss Energy Ltd (ASX: BOE)
The Boss Energy share price is up 4% to $1.87. 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 a reduced price target of $2.90. It said: "At face value, the sell-off looks over extended, however our confidence in forward guidance is low. Our valuation assumes production at Honeymoon over the short 10Y mine life is limited to ~1.7Mlbs pa and costs remain elevated, until such a time that management can guide differently."
DroneShield Ltd (ASX: DRO)
The DroneShield share price is up 9% to $3.23. Investors have been scrambling to buy the counter drone technology company's shares following the release of its second quarter update. DroneShield reported a 480% increase in revenue to $38.8 million for the three months ended 30 June. It also confirmed that it has a total of $176.3 million of revenue that has already been received or is under committed purchase orders for 2025 delivery. And with five months left in the year, this number could still rise materially.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is up 6% to $1.78. This follows the release of the lithium miner's fourth quarter update. Pilbara Minerals reported a 77% quarter on quarter increase in spodumene production to 221,300 tonnes. This underpinned a 28% increase in revenue to $193 million and a cash margin from operations of $98 million. Looking to FY 2026, management is guiding to production of 820,000 tonnes to 870,000 tonnes with a unit operating cost (FOB) of A$560 to A$600 per tonne.
Polynovo Ltd (ASX: PNV)
The Polynovo share price is up 6% to $1.30. This medical device company's shares are charging higher today after investors responded positively to the release of a full year update. Polynovo reported a 28.9% increase in group sales to $118.6 million. Management also revealed that it expects its FY 2025 EBITDA to be in the range of $11.2 million to $12.4 million. This will be a material increase on the $3.6 million it recorded a year ago.
