According to the Australian Bureau of Statistics, retail turnover increased 0.6% in May. As my colleague Bernd Struben noted, retailers won't be celebrating yet, with much of the growth attributed to shoppers cashing in on discounted end-of-year sales.

It's a relatively uninspiring update for ASX retail shares. The data indicates an industry still hobbled by high interest rates, an environment that has partially slain another Australian business today.

Which ASX stock is looking for a lifeline?

The outcome of a strategic review at Booktopia Group Ltd (ASX: BKG) has been announced after the company entered a trading halt on 13 June.

Australia's largest online bookstore has entered voluntary administration.

As per the announcement, Booktopia is now in the hands of specialist advisory and restructuring firm McGrathNicol.

Partners Keith Crawford, Matthew Caddy, and Damien Pasfield are the acting administrators conducting an 'urgent assessment' of Booktopia's options, including a sale or recapitalisation of the company.

The dire situation follows more than three years of lacklustre performance since the stock popped onto the ASX. During this time, the company's debt has grown alongside a dwindling cash pile, consumed by unprofitable operations, as depicted in the chart above.

On 31 March 2024, Booktopia had $212,000 in cash and $959,000 in undrawn finance facilities. However, based on recent negative free cash flows, this would be enough to last a month or two.

What's next?

Trading in Booktopia shares will remain suspended while the administrators try to revive the struggling business. By Monday, 15 July, a meeting with creditors, entities to which Booktopia owes money, will occur.

The ASX stock is down 72% over the last year. For those who have been invested since its public debut, shares are 98.4% lower, last trading at 4.5 cents apiece.

The post Down 70% in a year, this ASX stock has just entered voluntary administration appeared first on The Motley Fool Australia.

This came despite United States markets again heading lower overnight Monday, albeit modestly so compared to Friday night's violent sell-off, where the S&P 500 lost 3.4% and the NASDAQ slumped 3.9%.

Doing the damage late last week was US Federal Reserve Chair Jerome Powell saying:

While higher interest rates, slower growth, and softer labour market conditions will bring down inflation, they will also bring some pain to households and businesses. These are the unfortunate costs of reducing inflation.

So much for the economic soft landing so hoped for by the stock market bulls. The bond market, as demonstrated by an inverted yield curve, is signalling recession. The stock market is shooting first, asking questions later.

The best case scenario could be for a mild US recession, with a commensurate mild stock market correction. The S&P 500 index is already down 16% so far in 2022, having been down as much as 23% in June. Those lows could come back into play as Powell brings "some pain", starting with the next interest rate hike – either 50 or 75 basis points – on 20-21 September.

2) Here in Australia, the ASX 200 is down only 6% so far in 2022. 

It could have been far worse were it not for energy stocks, primarily coal and oil.

The Whitehaven Coal Ltd (ASX: WHC) share price is up over 200% year to date, with the New Hope Corporation Limited (ASX: NHC) share price also burning higher, up 124% so far this year.

The Woodside Energy Group Ltd (ASX: WDS) share price has also had a stellar 2022, up 63%. Not bad for a company with a market capitalisation of $67 billion!

Powering Woodside shares higher today is a bumper set of results, including declaring its largest interim dividend since 2014. The dividend is US$1.09 per share, well up on the 30 US cents paid in FY21. On a trailing basis, Woodside shares trade on a dividend yield of 8.5%.

The Australian Financial Review (AFR) declared earnings season a "windfall" for ASX dividend share investors, saying Australian companies are on track to pay out more than $100 billion in dividends in the 2023 financial year.

So much for a recession here in Australia.

3) It's not just energy companies that trade on very attractive dividend yields. 

The Best & Less Group Holdings Ltd (ASX: BST) share price is up 5% today to $2.75 after the discount retailer reported a "resilient trading performance" with revenue down just 6% despite 11% lost trading days.

Discretionary retailers are often hardest hit during periods of economic slowdown as consumers tighten their belts. 

Exhibit A is the Premier Investments Limited (ASX: PMV) share price, down 33% so far in 2022, a highly unusual experience for shareholders in arguably one of the country's leading retailers.

Exhibit B is the City Chic Collective Ltd (ASX: CCX) share price, down 33% since reporting lacklustre results just last week, and down a very painful 70% year to date. 

Retailing is a tough and fickle business at the best of times, let alone in times of lockdowns, supply chain challenges, staff shortages, rising inflation, and an economic slowdown. Good luck fighting those gale-force headwinds.

But Best & Less is powering forward, saying: "As we move further into an uncertain economic environment, with rising interest rates and cost-of-living pressures placing families under increasing financial strain, we expect an acceleration in the migration to value that is already underway."

With 90% of items sold being priced under $20, Best & Less says it expects Australian families facing cost of living pressures to increasingly prefer its specialty value offer.

Best & Less declared a fully franked final dividend of 12 cents per share, bringing the full year dividend to 23 cents. With Best & Less shares currently $2.75, they trade on a fully franked dividend yield of 8.4%. 

4) Best & Less is one of those rare recent initial public offerings (IPOs) that is trading above its issue price, having raised $60 million at $2.16 per share. 

Spare a thought for shareholders in well-and-truly-busted recent IPOs, Booktopia Group Ltd (ASX: BKG) and Adore Beauty Group Ltd (ASX: ABY), down 88% and 76% respectively from their 2020 issue prices.

Always on the lookout for a bargain, I've been sniffing around for anything that I think might have been a baby thrown out with the bathwater.

After experiencing a modicum of success in the June sell-off, the unforgiving market has recently dealt me some punishment, handing me back some of my short-lived gains, sometimes with interest. 

Stock picking can be a very humbling endeavour. 

5) One recent IPO that I don't own, but looks interesting in more than just name, is BirdDog Technology Ltd (ASX: BDT). The company describes itself as a global video technology company that enhances the quality, speed, and flexibility of video.

The BirdDog Technology share price is down 72% from its 65-cent IPO issue price in November 2021, some of it deservedly so given a financial performance that has been underwhelming. But with a host of new video technology products, and an acceleration of key strategic partnerships, BirdDog looks to be well placed to deliver strong organic growth in the coming year.

The BirdDog share price trades at 18 cents and the company is capitalised at just $36 million. Of that, as at 30 June 2022, $23 million was in cash and $18 million was in current inventory. 

With the company trading at around breakeven in Q4, the downside looks to be limited, to say the least. 

The post ASX dividend windfall continues but it's not just Woodside and ASX 200 energy stocks splashing the big cash appeared first on The Motley Fool Australia.

These three stocks are posting notable gains on Friday. Keep reading to find out what's buoying their share prices amid today's sea of red.

3 ASX All Ords shares defying today's downturn

Sezzle Inc (ASX: SZL)

The share price of All Ords BNPL favourite Sezzle has climbed back on the horse today, recovering some of the 57% fall it posted over the first four days of the week.

Right now, the Sezzle share price is trading 2.5% higher at 20.5 cents.

The company binned its planned multi-million-dollar merger with fellow ASX BNPL favourite Zip Co Ltd (ASX: ZIP) earlier this week.

Its stock plummeted nearly 39% when the news was released on Tuesday before slipping another 22% on Wednesday.

Michael Hill International Ltd (ASX: MHJ)

Sezzle is joined in the green today by shares in its ASX All Ords peer Michael Hill.

The jewellery retailer's share price has lifted 3.7% to trade at $1.12 right now.

Its gains come on the back of a trading update detailing decent growth in the June quarter, topping off a strong full year of sales, released after the market closed on Thursday

The company's managing director and CEO Daniel Bracken commented on its recent performance, saying:

I'm delighted with our full year trading results, despite the continued backdrop of COVID disruptions and the resulting loss of 10,000 store trading days, we have delivered the highest sales and margin in the history of the Michael Hill brand.

Booktopia Group Ltd (ASX: BKG)

The final ASX All Ords share recording a decent gain on Friday is Booktopia.

Its share price is currently 33.5 cents, 8.06% higher than its previous close.

There's been no news from the online book retailer today.

However, its shares tumbled nearly 5% yesterday when the company announced it had dumped its CEO Tony Nash following an internal business review.

The post 3 ASX All Ords shares sidestepping the selling today appeared first on The Motley Fool Australia.

The S&P/ASX All Ordinaries Index (ASX: XAO) has weathered a 0.8% decline since the beginning of the month. Though, a subset of companies inside the index might receive more punishment this month.

Commonly, investors that are ready to call it quits on an underperforming investment begin to action their sell orders in June as the end of the financial year draws near. As you might imagine, this can momentarily depress the performance of ASX shares.

In particular, companies that have already experienced significant falls in the financial period tend to have a greater chance of landing on the chopping block.

In light of this, here are nine companies that might be subjected to increased selling this month.

ASX All Ords shares that could be tax time targets

One common market adage is, "sell in May and go away." Though, this isn't such a feasible approach for long-term investors. Additionally, the share market isn't predictable enough to confine it to such simple rules. If it were, we'd all be timing the market perfectly — and, we know that isn't the reality.

However, it is always helpful to mentally be readied for potential short-term share price weakness. Furthermore, if these are companies shareholders believe are winners over the long-term, any downside this month could serve as a buying opportunity.

Below is a list of ASX All Ords shares that have experienced the greatest falls during the financial year. Based on the above-mentioned logic, these companies could be in the sights of investors looking to make use of capital losses:

From the above table, we can see that buy now, pay later (BNPL) companies fell out of favour during this time. ASX All Ords shares such as Sezzle and Zip have both been incinerated, tumbling more than 90% since 1 July 2021.

Meanwhile, other ASX shares that could experience further selling this month include former standouts. Companies like Cettire, Pointsbet, and Dubber were all stellar performers in FY21. Unfortunately, this financial year has seen their respective share prices turn and retreat.

A previous version of this article mistakenly included Tabcorp Holdings Limited (ASX: TAH), which has since been removed given YTD share price falls were attributable to The Lottery Corp Ltd (ASX: TLC) demerger.

The post 9 ASX All Ords shares that could be stung by tax-loss selling appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most are listed below. Here's why they are dropping:

AGL Energy Limited (ASX: AGL)

The AGL share price is down 3% to $8.37. Investors have responded negatively to news that Mike Cannon-Brookes has snapped up an 11.28% blocking stake in the energy company. Mr Cannon-Brookes wants to prevent AGL's demerger. Though, management revealed that it remains committed to progressing the proposed demerger and believes it is in the best interests of AGL shareholders.

Booktopia Group Ltd (ASX: BKG)

The Booktopia share price has crashed 25% to 47 cents. Investors have been selling this online book retailer's shares after it released a disappointing trading update and announced the shock resignation of its co-founder and CEO. In respect to the former, revenue for the quarter fell 1% over the prior corresponding period to $64.5 million and EBITDA fell 65% to $1.5 million.

Cleanaway Waste Management Ltd (ASX: CWY)

The Cleanaway share price is down 4% to $3.02. Investors have been selling this waste management company's shares after it revealed that its EBITDA would be $15 million to $20 million lower than expected in FY 2022. This is due to higher fuel and labour costs and one-off operational disruptions.

Corporate Travel Management Ltd (ASX: CTD)

The Corporate Travel Management share price is down 3% to $24.97. This follows the release of a trading update from the corporate travel specialist. Corporate Travel Management revealed that the Omicron variant impacted its recovery during the third quarter. And while management expects a big fourth quarter and for momentum to carry over into FY 2023, it hasn't been enough to keep some investors from selling shares.

The post Why AGL, Booktopia, Cleanaway, and Corporate Travel Management shares are dropping appeared first on The Motley Fool Australia.

In morning trade, the online book retailer's shares have crashed 26% to a record low of 46 cents.

This means the Booktopia share price is now down 67% since the start of the year.

Why is the Booktopia share price crashing today?

Investors have been selling down the Booktopia share price on Tuesday after the ecommerce company revealed the shock resignation of its CEO and that its performance has continued to deteriorate.

In respect to the former, Booktopia's CEO and co-founder, Tony Nash, has informed the board of his intention to step aside. Though, he will continue as a full-time senior executive and director with the company in a new position focused exclusively on growth.

Mr Nash commented: "I look forward to continuing to find ways to grow the business while handing over the duties that come with being the CEO of a larger and listed entity. It's time to hand over the leadership reins to someone who is more capable than me at that job description. I am genuinely looking forward to working with, and for, the new CEO."

Booktopia has commenced a search to identify and secure a new CEO. Mr Nash will remain in the role until a replacement is appointed and then transition responsibilities to the new CEO.

Trading update

Also weighing on the Booktopia share price today has been an update on the company's performance during the third quarter.

That update revealed that revenue for the quarter fell 1% over the prior corresponding period to $64.5 million. Management blamed this on the disrupted start to the academic year, resulting in lower overall revenue from academic book sales which have traditionally contributed strongly to third quarter performance.

Things were even worse for its earnings before interest, tax, depreciation and amortisation (EBITDA) in the third quarter. Booktopia's EBITDA fell 65% to $1.5 million due to the combined impact of increased operating expenses and lower academic book sales.

Based on the above, the company's revenue for the nine months to 31 March is now up just 9% to $194.7 million and its EBITDA is down 63% to $5.5 million.

Outlook… not so good

Unfortunately, things aren't expected to improve in a hurry. In fact, they appear set to get worse before they hopefully get better.

For example, management has provided full year guidance of revenue of approximately $242 million and EBITDA of $3 million to $4 million. The latter means the company will be making an operating loss of $1.5 million to $2.5 million during the fourth quarter.

However, the company intends to address its lack of profitability by reassessing its cost base to ensure business costs and investments are more aligned with the company's current growth trajectory. This will see the company aim to "create the step-change needed to reset the business thus allowing Booktopia to return to a sustainable level of growth and profitability as soon as possible."

Judging by the Booktopia share price performance today, some investors aren't sticking around to see if these initiatives are a success.

The post Booktopia share price crashes 26% on earnings dive and shock CEO exit appeared first on The Motley Fool Australia.

The first few months of 2022 have seen volatility pick up on the ASX amid strong inflation and the prospect of rising interest rates.

After the recent declines, brokers think these two ASX tech shares are opportunities.

Booktopia Group Ltd (ASX: BKG)

Since the start of the 2022 calendar year, the Booktopia share price has dropped around 50%.

The company has seen revenue continue to grow, however profitability declined in the first half of FY22. It said that revenue increased by 15.5% to $130 million, while earnings before interest, tax, depreciation and amortisation (EBITDA) dropped 49% to $4.1 million.

Booktopia explained that first-half revenue and profit were impacted by the Sydney lockdowns. Its distribution centre is located in one of the areas of Sydney that saw the most restrictive lockdowns. The company decided to limit marketing and forego sales to focus on protecting employees and comply with government regulations.

Management said that operations have largely returned to a more normal environment and the business can "now resume strong revenue growth but with a renewed focus on improving earnings" without compromising areas required to support longer-term growth.

The ASX tech share is aiming to secure a market share of the growing online book market.

It's currently rated as a buy by the broker Morgans, with a price target of $1.85. That's around 160% higher than where it is today.

Life360 Inc (ASX: 360)

Life360 operates a platform for families with features including communications, driving safety, and location sharing.

In its latest quarterly update, it said that it achieved 63% year-on-year growth in subscription revenue. Annualised monthly revenue has increased to US$166.1 million. Monthly active users increased 36% year on year to 38.3 million, an 8% increase quarter on quarter.

Average revenue per subscription (including Tile and Jiobit) increased 16% year on year, with 15% growth for the 'core' Life360 business.

However, the ASX tech share did announce that its US dual listing plans have ceased.

Management said that there were highly encouraging trial results of the Tile upsell offer, which led to a 35% uplift in Life360 subscriptions compared to the control group.

Life360 is accelerating the integration of Tile and Jiobit (tracking devices) to deliver targeted sustainable cash flow by late 2023. The company expects 2024 to be the first full year of positive cash flow.

In 2022, the tech company expects its core Life360 subscription revenue to rise more than 50%. It expects consolidated revenue to be in a range of between US$245 million to US$275 million. And it expects underlying EBITDA to be a loss of between US$32 million to US$38million.

Life360 is currently rated as a by the broke Morgan Stanley, with a price target of $8.60.

The post Here are 2 ASX tech shares to buy according to brokers appeared first on The Motley Fool Australia.

Three that investors might want to get better acquainted with are listed below. Here's why they should be on your watchlist:

Adore Beauty Group Limited (ASX: ABY)

The first small cap ASX share to look at is Adore Beauty. This week the company released its half year results and revealed an 18% increase in revenue to $113.1 million. This was driven by a 13% increase in active customers to 876,000 and strong returning customer growth. And while there are concerns about its slender margins, management appears confident they will improve at scale. It also believes the company "is well positioned to capture market share in a large and growing market benefitting from structural tailwinds."

Morgan Stanley remains positive on the company. It currently has an overweight rating and $4.00 price target on its shares.

Booktopia Group Ltd (ASX: BKG)

Another small cap ASX share to watch is Booktopia. This online book retailer has been growing at an explosive rate in recent years. This has been driven by the shift to online shopping and supported by the opening of its new distribution centre. The latter is allowing the company to capture heightened demand and ship more books than ever.

While its shares are out of favour with investors at present, Morgans remains positive. It recently put an add rating and lofty $2.78 price target on its shares. This is more than double the current Booktopia share price.

Whispir Ltd (ASX: WSP)

A final small cap ASX share to watch is Whispir. It is a software-as-a-service company that provides a communications workflow platform that automate interactions between organisations and people. The company notes that its offering enables organisations to improve their communications through automated workflows to ensure stakeholders receive accurate, timely, useful and actionable insights. Among its users are the Australian Government, Changi Airport, Monash University, Nespresso, and Takata. Management estimates that it has a total addressable market of US$4.7 billion in just the United States market.

Canaccord Genuity is bullish on Whispir. It has a buy rating and $3.50 price target on its shares. It feels that the company's shares could rerate once it demonstrates growth in North America.

The post 3 high risk, high reward small cap ASX shares named as buys appeared first on The Motley Fool Australia.

Four that investors might want to get better acquainted with are listed below. Here's why they should be on your watchlist:

Alcidion Group Ltd (ASX: ALC)

The first small cap share to watch is Alcidion. It is a growing informatics solutions company aiming to transform healthcare with proactive, smart, intuitive technology solutions that improve the efficiency and quality of patient care in healthcare organisations worldwide. Alcidion notes that it offers a complementary set of software products and technical services that create a unique offering in the global healthcare market.

Bigtincan Holdings Ltd (ASX: BTH)

Another small cap ASX share to look at is this leading provider of enterprise mobility software to businesses globally. Bigtincan's software unlocks new and more effective ways for teams to perform at higher levels and deliver better business results. Management notes that its platform empowers sales and service representatives to maximise their use of sales collateral to engage with customers and prospects more effectively.

Booktopia Group Ltd (ASX: BKG)

A third small cap ASX share to watch is Booktopia. This online book retailer has been growing at an explosive rate in recent years. This has been driven by the shift to online shopping and the opening of its new distribution centre. The latter is allowing the company to capture the heightened demand and ship more books than ever. In fact, for the 12 months ending June 2021, the company sold one item approximately every 3.9 seconds and shipped approximately 8.2 million items. This averages out to be a massive 32,800 items per business day.

Whispir Ltd (ASX: WSP)

A final small cap ASX share to watch is Whispir. It is a global scale SaaS company that provides a communications workflow platform that automates interactions between organisations and people. Its products enable organisations to improve their communications through automated workflows to ensure stakeholders receive accurate, timely, useful and actionable insights. Management estimates that it has a total addressable market of US$4.7 billion in just the United States market.

The post 4 small cap ASX shares for your watchlist appeared first on The Motley Fool Australia.

Two ASX shares have just hit 52-week lows today. Let's take a look at why they are down on their luck.

Booktopia Group Ltd (ASX: BKG)

The Booktopia share price plunged to a 52-week low of $1.31 today despite no news out of the company. The company's shares are trading at $1.33 at the time of writing, a 55.5% drop from their yearly high of $2.99 in August. They are now down almost 50% this year.

Investors have been selling Booktopia shares on the back of some tough news for the company. Earlier this month, the ACCC notified the company it would be taking it to the Federal Court. The claims relate to communications to customers with regards to returns and refunds.

Booktopia defended the claims in a statement to the market authorised by chairman Chris Beare on December 8. The company said:

At no time were these communications intended to exclude or limit Booktopia's obligations under the Australian Consumer Law.

Another factor impacting the Booktopia share price could be an update from the company just before Christmas.

In a trading update to the market on December 23, the company advised it is expecting earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $4 to $4.5 million in the first half of the financial year. This is up to 50% less than the $8 million recorded in the previous year.

The company advised earnings were lower due to labour costs managing Sydney's COVID-19 lockdowns. The ongoing threat of the COVID-19 Omicron variant in Australia could be continuing to impact investor confidence in this ASX share.

Openpay Group Ltd (ASX:OPY)

The Openpay share price hit a 52-week low on Thursday. In afternoon trade, the buy now, pay later (BNPL) company's shares are trading at 74 cents after hitting the yearly low of 73 cents this morning.

In fact, the Openpay share price is now down nearly 78% from its 52-week high of $3.35 and about 68% this year.

The latest decline in this ASX share reflects a trend across the BNPL sector.

The share price of Afterpay Ltd (ASX: APT) is tumbling 2.7% today, while Zip Co Ltd (ASX: Z1P) has slumped 2.51%. Sezzle Inc's (ASX: SZL) stock is also trading 2.27% lower.

Looking at the trend in the US, the Affirm Holdings Inc (NASDAQ: AFRM) share price fell 3.43%, while Paypal Holdings Inc (NASDAQ: PYPL) slipped 0.07%.  

The post 2 ASX shares hitting 52-week lows appeared first on The Motley Fool Australia.

Listed below are three ASX shares that brokers have named as buys this week:

Booktopia Group Ltd (ASX: BKG)

According to a note out of Morgans, its analysts have retained their add rating but slashed their price target on this online book retailer's shares to $2.78. This follows the release of a trading update which revealed guidance well short of Morgans' estimates. This has led to the broker taking an axe to its earnings estimates for the coming years. However, it still sees enough value in Booktopia's shares at the current level to recommend it as a buy. Particularly given its positive long term outlook due to market share gains and distribution centre automation. The Booktopia share price is trading at $1.40 on Friday.

Charter Hall Social Infrastructure REIT (ASX: CQE)

A note out of Goldman Sachs reveals that its analysts have retained their conviction buy rating and lifted their price target on this social infrastructure-focused property company's shares to $4.13. This follows the announcement of two new childcare portfolio acquisitions for $134.3 million and an increase to its distribution guidance for FY 2022 to 17.2 cents per share. Goldman believes the acquisitions solidify its view that the company is positioned for a solid growth outlook given its strong balance sheet with headroom and liquidity to pursue investment opportunities. The Charter Hall Social Infrastructure share price is fetching $4.00 today.

Siteminder Ltd (ASX: SDR)

Analysts at UBS have initiated coverage on this hotel commerce platform provider's shares with a buy rating and $7.45 price target. UBS likes Siteminder due to its significant opportunity in a large and extremely fragmented market. It also notes that a good portion of its addressable market is still using manual processes and could benefit from switching to Siteminder's platform. The Siteminder share price is trading at $6.91 today.

The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

In morning trade, the online book retailer's shares are down 10% to a record low of $1.45.

This means the Booktopia share price is now trading 37% lower than its December 2020 IPO listing price of $2.30.

Why is the Booktopia share price crashing lower today?

The weakness in the Booktopia share price this morning has been driven by a disappointing trading update.

According to the release, while its sales have remained solid during the first half, its costs have jumped and are weighing heavily on its profits.

For example, based on trading so far in December, Booktopia is expecting to achieve first half revenue of more than $127 million. This represents a 13% increase on the revenue of $112.6 million reported in the prior corresponding period.

However, due to additional labour costs incurred managing Sydney's COVID lockdowns, the ongoing set-up costs of a second distribution facility, and the recruitment of a number of new executives, Booktopia's EBITDA is expected to be between $4 million and $4.5 million during the half.

The low end of the range is a 50% reduction on the EBITDA of $8 million it recorded in the prior corresponding period.

Management commentary

Booktopia's Founder and CEO, Tony Nash, commented: "The first half has presented a number of challenges and I am very proud of the way our team responded to ensure we were able to limit the impact, particularly on our customers. Trading conditions and customer demand over the last two months will give us strong momentum as we move into the second half and the 2022 academic sales season."

"The Group has strong confidence, based on current levels of demand, that the large number of customers acquired throughout 2020 and 2021 will continue to purchase through Booktopia's online platforms, and our investments in new stock and distribution infrastructure will deliver value for the Group. We are committed to continuing the growth of the business and making investments in our team and facilities to ensure we can meet the growth targets we have set ourselves," he concluded.

The post Why the Booktopia (ASX:BKG) share price just crashed 10% to a record low appeared first on The Motley Fool Australia.

Booktopia has entered into a publishing and distribution partnership with Welbeck Publishing Group based in the United Kingdom.

The Booktopia share price leapt 6% to an intraday high of $1.80 near the market open, before plummeting back to its previous closing price of $1.70. At the close of trade today, shares in the company had lifted again and were trading 2.05% higher at $1.74.

More on the partnership…

Earlier this year, the publisher told investors it would secure a 25% stake in the UK-based company's new standalone subsidiary, Welbeck Australia (WPGANZ) for around $3 million.

In today's announcement, the company advised that these agreements had been executed.

Now, under this new partnership, Booktopia will distribute WPGANZ's catalogue of around 300 new titles per year.

Welbeck's existing distribution agreement with giant Allen & Unwin and United Book Distributors will be transferred to Booktopia Publisher Services (BPS) by the end of the first quarter next year. 

The company noted that the move would not only make WPGANZ the local publisher for Welbeck UK's backlist of around 4,500 titles, it would also create an opportunity for Welbeck to build a local editorial team to publish Australian and New Zealand authors. The aim would be to bring in 50 new titles to the market each year.

Booktopia founder and chief executive Tony Nash welcomed the news, saying:

Welbeck is a highly-regarded and significant player in the book industry, and we are very excited about the opportunity to partner with them as they grow their presence in Australia and New Zealand.

The partnership and investment in Welbeck Australia will diversify and enhance our future income streams while growing our scale and strategic presence in the publishing and distribution segments of the book industry.

Booktopia share price snapshot 

The Booktopia share price has fallen more than 37% in the past 12 months, with much of the drop happening since its 52-week high of $3.06 in September. The publisher has fallen 33.5% this year to date.

The company has a market cap of $245.86 million at the time of writing.

The post What happened with the Booktopia (ASX:BKG) share price today? appeared first on The Motley Fool Australia.

These small cap shares are rated highly by analysts and have been given buy ratings recently. Here's what you need to know about them:

Australian Clinical Labs Ltd (ASX: ACL)

Australian Clinical Labs could be a small cap share to buy. It is a leading Australian private provider of pathology services through 86 NATA accredited laboratories.

From these sites, the company performs a diverse range of pathology tests each year for a range of clients. These include doctors, specialists, patients, hospitals and corporate clients.

Outside the current increased demand for its services from COVID-19 testing, Goldman Sachs believes Australian Clinical Labs is well-placed for growth over the long term. This is due to demographic volume drivers, the prevalence of chronic diseases, and the growing trend for doctors to use pathology services to recognise, prevent or treat diseases earlier.

Goldman Sachs currently has a buy rating and $5.90 price target on the company's shares. This compares to the most recent Australian Clinical Labs share price of $4.34.

Booktopia Group Ltd (ASX: BKG)

Booktopia could be another small cap ASX share to buy. It is an online book retailer which has been growing at a very strong rate in recent years. For example, in FY 2021, Booktopia reported a 26% increase in shipments to 8.2 million units and a 19% lift in active customers to 1.8 million. This underpinned very strong revenue growth again.

The good news is that with the shift to online shopping continuing and its new distribution centre able to ship more books that ever before, the future looks bright for Booktopia.

Analysts at Morgans are very positive on the company's outlook. They believe Booktopia is well-placed to win market share and continue its growth.

Morgans currently has an add rating and $3.72 price target on its shares. This compares to the most recent Booktopia share price of $1.99.

The post Analysts are tipping huge gains for these small cap ASX shares appeared first on The Motley Fool Australia.

Two that investors might want to get better acquainted with are listed below. Here's what you need to know about them:

Booktopia Group Ltd (ASX: BKG)

The first small cap ASX share to watch is Booktopia. This online book retailer has been growing at an explosive rate. This has been driven by its strong market position, the shift to online shopping, and its new distribution centre. In respect to the latter, late last year the company completed the first stage of its $20 million expansion and automation project at the Lidcombe Distribution Centre in Sydney. This increased Booktopia's outbound capacity from 30,000 units to 60,000 units per day, allowing it to capture the heightened demand and ship more books than ever.

One broker that is very positive on Booktopia's future is Morgans. Its analysts were impressed with the company's performance in FY 2021. In response, they retained their buy rating and lifted their price target to $3.72. This is notably higher than where the Booktopia share price trades today.

Whispir Ltd (ASX: WSP)

Another small cap share to watch is Whispir. It is a software-as-a-service communications workflow platform provider. Whispir's platform allows businesses and governments to deliver actionable two-way interactions at scale using automated multi-channel communication workflows.

While it has been growing its recurring revenue at a strong rate over the last few years, it is still only scratching at the surface of its overall market opportunity. For example, management estimates that it has a total addressable market (TAM) of US$4.7 billion in the just United States. Whereas late last month Whispir released its first quarter update and revealed a 31.8% increase in annualised recurring revenue (ARR) to $56.8 million.

Positively, Whispir also reaffirmed its FY 2022 guidance. It continues to expect ARR of $65.4 million to $70 million. This represents year on year growth of 22% to 31%.

Ord Minnett currently has a buy rating and lofty $3.89 price target on the company's shares.

The post 2 exciting small cap ASX shares named as buys appeared first on The Motley Fool Australia.

Two that could be worth watching very closely are listed below. Here's what you need to know about these small cap ASX shares:

Booktopia Group Ltd (ASX: BKG)

Booktopia could be a small cap ASX share to watch. It is a rapidly growing online book retailer which shipped 8.2 million units to 1.8 million active customers in FY 2021. This was an increase of 26% and 19%, respectively, year on year.

The shift to online shopping and its new automated distribution centre were drivers of this growth. This ultimately underpinned a 35% lift in revenue to $223.9 million and a 125% jump in underlying EBITDA to $13.6 million.

Analysts at Morgans are very positive on the company's outlook. They believe the company is well-placed to win market share and continue its growth. The broker currently has an add rating and $3.72 price target on Booktopia's shares.

Infomedia Limited (ASX: IFM)

Another small cap ASX share to look at is Infomedia. It is a leading global provider of software-as-a-service solutions to the parts and service sector of the automotive industry.

Despite battling tough trading conditions in FY 2021, Infomedia still delivered a solid 3% increase in revenue to $97.4 million and an 8% lift in net profit after tax to $20 million.

Pleasingly, trading conditions are improving and management expects a much stronger performance in FY 2022. Its revenue guidance is $117 million to $123 million. The mid-point of this guidance range implies revenue growth of 23% year on year.

And while its CEO has just resigned to join Nuix Ltd (ASX: NXL), the company stressed that it remains on course to achieve the above guidance. In light of this, the share price weakness that has followed this announcement could be a buying opportunity for investors.

One broker that appears to see that as the case is Bell Potter. It currently has a buy rating and $2.00 price target on its shares.

The post 2 exciting small cap ASX shares to watch appeared first on The Motley Fool Australia.

Two small cap shares that investors might want to get better acquainted with are listed below. Here's why they are highly rated by these brokers:

Booktopia Group Ltd (ASX: BKG)

The first small cap share to watch is rapidly growing online book retailer, Booktopia.

Thanks to the shift to online shopping, and the company's new automated distribution centre, Booktopia was a very strong performer in FY 2021. It reported a 35% lift in revenue to $223.9 million and a 125% jump in underlying EBITDA to $13.6 million.

Also growing strongly was its active customers. At the end of the period, the company had a total of 1.8 million active customers. This was an increase of 19% year on year.

Pleasingly, FY 2022 has started positively and the company's revenue was tracking ahead of the prior corresponding period at the end of August. A further update on Booktopia's performance is likely to be released later this month.

In the meantime, the team at Morgans is very positive about Booktopia's outlook. Its analysts have an add rating and $3.72 price target on its shares.

Universal Store Holdings Limited (ASX: UNI)

Another small cap share to look at is this fashion retailer. Universal Store aims to deliver an ever-changing and carefully curated selection of on-trend products for younger consumers.

This strategy has been working very well, leading to strong sales and profit growth in FY 2021. Universal Store reported a 36.1% increase in sales to $210.8 million and an 87.7% jump in underlying net profit after tax to $30.4 million.

This went down well with the team at Macquarie. In response, the broker put an outperform rating and $8.90 price target on its shares.

The post 2 exciting small cap ASX shares analysts rate highly appeared first on The Motley Fool Australia.

Two that could be worth watching very closely are listed below. Here's what you need to know about these small cap ASX shares:

Booktopia Group Ltd (ASX: BKG)

The first small cap ASX share to watch is rapidly growing online book retailer, Booktopia.

It was a very strong performer in FY 2021, reporting a 35% lift in revenue to $223.9 million and a 125% jump in underlying EBITDA to $13.6 million.

This was underpinned by a 19% increase in active customers to 1.8 million and a 26% lift in units shipped to 8.2 million. The latter was supported by its new automated distribution centre, which allowed the company to capture increased demand from the shift to online shopping.

And while no guidance was given for FY 2022, management revealed that the new financial year has started strongly and revenue was tracking ahead of the prior corresponding period at the end of August.

Morgans is very positive on the company's outlook. It currently has an add rating and $3.72 price target on Booktopia's shares.

Damstra Holdings Ltd (ASX: DTC)

Another small cap ASX share to watch is Damstra. It is an integrated workplace management solutions company providing an increasingly popular cloud-based workplace management platform.

This platform is used by businesses globally to track, manage, and protect their workers and assets.

It was also on form in FY 2021. For the 12 months ended 30 June 2021, Damstra reported a 63% increase in annual recurring revenue (ARR) to $34.5 million. This was driven by a 74% increase in user numbers to 737,000.

The company has also just strengthened its offering with the acquisition of TIKS Solutions for $15.5 million. This leaves Damstra well-placed to continue growing into its substantial addressable market. Management estimates that its total addressable market (TAM) will be worth US$20 billion in 2022.

The team at Shaw & Partners are positive on the company. They have a buy rating and $1.67 price target on its shares.

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Here's why these are highly rated by analysts right now:

Audinate Group Limited (ASX: AD8)

The first small cap ASX share to look at is Audinate. It is the leading digital audio-visual networking technologies provider behind the Dante audio over IP networking solution. Management notes that Dante is the evolution of AV systems, converging all previous connection types into one. The solution is the clear industry leader, with the number of Dante enabled products manufactured by its customers eight times greater than its nearest rival.

UBS is a fan of the company. It currently has a buy rating and $11.75 price target on Audinate's shares.

Bigtincan Holdings Ltd (ASX: BTH)

A second small cap to look at is Bigtincan. It is a growing provider of enterprise mobility software to sales and service organisations. The company notes that its mobile, AI-powered sales enablement automation platform features the industry's premier user experience that empowers sales representatives to more effectively engage with customers. Bigtincan's recurring revenues have been growing strongly in recent years but are still only scratching at the surface of a huge global market opportunity.

Morgan Stanley is positive on the company. It currently has an overweight rating and $2.10 price target on its shares.

Booktopia Group Ltd (ASX: BKG)

A final small cap ASX share to watch is Booktopia. It is an online book retailer which really caught the eye in FY 2021. For the 12 months ended 30 June, the company reported a 35% increase in revenue to $223.9 million and a 125% jump in EBITDA to $13.6 million. This was driven by record shipments of 8.2 million units, which was underpinned by its new distribution centre and strong demand. Pleasingly, it has started FY 2022 in a positive fashion. Management advised that sales in July and August were higher than the prior corresponding period.

This went down well with Morgans. In response, the broker retained its add rating and lifted its price target to $3.72.

The post 3 small cap ASX shares analysts rate highly appeared first on The Motley Fool Australia.

Three that investors might want to get better acquainted with are listed below. Here's what you need to know about them:

Booktopia Group Ltd (ASX: BKG)

The first small cap ASX share to watch is Booktopia. It is an online book retailer which has brushed off the arrival of Amazon in Australia and continued its meteoric growth. This has been driven by its strong market position, the shift to online shopping, and its new distribution centre. The latter is allowing the company to capture the heightened demand and ship more books than ever.

Serko Ltd (ASX: SKO)

Another small cap ASX share to watch is Serko. It is the online travel booking and expense management provider behind the Zeno Travel and Zeno Expense platforms. Serko uses intelligent technology, predictive workflows, and a traveller-centric marketplace to transform the world of business travel and expense. It also recently signed a game-changing deal with travel giant Booking.com, which looks set to be a significant boost to revenues in FY 2022 and beyond.

Whispir Ltd (ASX: WSP)

A final small cap ASX share to watch is Whispir. It is a growing workflow platform provider that allows organisations to deliver actionable two-way interactions at scale. This is achieved using automated multi-channel communication workflows. While the company has been growing its revenues strongly in recent years, it has still only captured a small slice of its target market. For example, management estimates that it has a total addressable market (TAM) of US$4.7 billion in the just United States.

The post 3 growing small cap ASX shares to watch appeared first on The Motley Fool Australia.