The ASX small cap stock was down as much as 90% to a low of 9.4 cents in morning trade.

Its shares have recovered a touch since then but remain down by 83% at the time of writing.

What is this ASX small cap stock?

BSA is an Australian owned and operated services provider.

It notes that it has over 25 years' experience delivering fixed-line and wireless telco services, smart metering services, and premium electric vehicle charging solutions.

It provides these services to Australia's household brands, including the NBN Co, Foxtel and Telstra Group Ltd (ASX: TLS).

Why is it crashing deep into the red today?

Investors have been selling off this ASX small cap stock today after it released a very worrying update this morning.

According to the release, the company has been verbally notified by NBN Co that, at this stage, it has not been selected as a preferred tenderer on the new NBN Field Services Contract.

As a result of this notification, BSA advised that it believes an award will be unlikely and steps are being taken to try and optimise its position in relation to the tender outcome and is planning for all eventualities. The tender was being pursued in a teaming arrangement with UGL.

The current NBN Unified Field Operations contract, with an expiry date of 30 September 2025 (along with extension options, at NBN's discretion, up to a maximum of a further 12 months), remains in place.

However, the contract has no volume guarantees to date and the company has not received any notifications around volume changes through to the expiry of the current term of the contract.

How big a blow is this?

This is a massive blow to the small cap ASX stock. It highlights that the current NBN contract represented approximately 80% of its revenue in FY 2024.

Commenting on the news, the company said:

At this stage, no further information is available. The Company has been planning for a range of tender outcomes and will now assess the impact of this development along with actively evaluating all strategic options to mitigate the impact if BSA is not successful in this tender. BSA will update shareholders as further details emerge. BSA will continue to keep the market informed in accordance with its continuous disclosure obligations.

The post Why this Telstra-linked ASX small cap stock just crashed 90% appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price is up 1% to $1.25. This follows the release of the energy producer's quarterly update. Beach Energy reported a 10% quarter on quarter increase in production to 5.2 MMboe, which was ahead of consensus estimates. Baech Energy's revenue came in at $427 million for the quarter, which was in-line with the prior quarter and consensus estimates. Management notes that higher gas volumes replaced Waitsia LNG swap cargo revenue from the previous quarter.

BSA Ltd (ASX: BSA)

The BSA share price is up 17% to $1.13. This morning, this network services provider released its quarterly update and revealed a strong start to FY 2025. BSA's revenue came in 35.6% higher year on year at $76.9 million. And with its EBITDA margin improving, the company's EBITDA jumped 47.7% to $6.5 million. Management advised that its higher revenue was due to increased client volumes on fixed line platforms and wireless, a more favourable work mix, and pricing discipline. Whereas its improved margins reflects greater operational efficiency and more favourable margin work on fixed line platforms.

Clarity Pharmaceuticals Ltd (ASX: CU6)

The Clarity Pharmaceuticals share price is up 4% to $6.77. This may have been driven by a broker note out of Bell Potter this morning. According to the note, the broker has reaffirmed its speculative buy rating and $10.00 price target on this radiopharmaceuticals company's shares. It said: "There are no changes to earnings and we remain highly encouraged by the responses reported in the therapy trials. CU6 remains well funded with cash and liquid assets at 30 June of ~$146m representing funding deep into CY26. Valuation unchanged at $10.00."

Perpetual Ltd (ASX: PPT)

The Perpetual share price is up 4% to $20.47. The catalyst for this may have been a broker note out of Citi this morning. According to the note, the broker has upgraded the fund manager's shares to a buy rating with an improved price target of $22.50. Citi was pleased with the company's performance in the first quarter, noting that it achieved positive net flows during the three months.

The post Why Beach Energy, BSA, Clarity, and Perpetual shares are pushing higher today appeared first on The Motley Fool Australia.

It runs a portfolio of high-conviction names. In the latest monthly update, the LIC only had seven positions in its portfolio which it views as long-term holdings.

The LIC is fresh from generating a portfolio performance of a 58.4% return over FY21 and it is still confident about these three ASX shares which just reported during reporting season:

BSA Limited (ASX: BSA)

BSA is a technical services contracting company.

The fund manager said that BSA produced a result consistent with what it has seen for a number years. It was a "credible" underlying result, particularly in the current conditions, but there were a number of one-off costs.

Naos noted that there was commentary about laying the foundations for the future. Underlying margins at the small cap ASX share also increased in FY21, so the fund manager believes that commentary is correct.

Naos was disappointed by the lack of substantial comments about capital management and a lack of tangible progress regarding acquisitions. The fund manager believes that BSA has a sound foundation to build on which "could lead to significant compounding returns for shareholders over time". It is hoped by the fund manager that the potential will start to be realised in FY22.

COG Financial Services Ltd (ASX: COG)

COG, a financial services provider, revealed a result that showed underlying net profit (NPATA) rose by over 132%. Naos noted that the result had increased transparency compared to previous years along with "excellent" cash generation. The fund manager attributed the cashflow generation to COG's capital light, distribution-focused business model.

Naos pointed out that the result allowed the small cap ASX share to grow its dividend by 295%. The dividend payout ratio was 62%.

The fund manager was also pleased that more transparency was also provided about its insurance broking strategy which is now starting to be implemented. The company has stated its ambitions to grow this to 50% of the earnings of the finance broking and aggregation division. Naos said if that can achieved, then the fund manager believes the insurance broking business could potentially contribute $15 million of earnings before interest, tax, depreciation and amortisation (EBITDA) in five years' time.

Eureka Group Holdings Ltd (ASX: EGH)

Eureka was a provider of affordable rental accommodation for independent seniors within a community environment.

Naos said that that Eureka's result confirmed the momentum that the business has building over the last two years. Underlying EBITDA was up around 22% and all key metrics like occupancy levels remain robust.

There was a slight negative that Naos pointed to from the small cap ASX share – there wasn't greater detail revealed on its capital management strategy that would enable the business to scale significantly in the future.

The fund manager thinks that Eureka can become a much larger business but it may not need to own 100% of all of its assets on its own balance sheet. Naos points out there Greg Paramor is on the board, who has a lot of experience at Folkestone and more recently Charter Hall Group (ASX: CHC), he could help the business launch a funds management model which is a strategy Naos believes could be very beneficial for Eureka shareholders over the longer-term.

The post 3 top small cap ASX shares this fund manager likes appeared first on The Motley Fool Australia.

What is Naos Asset Management's investment approach?

Naos is led by chief investment officer (CIO) Sebastian Evans. NAOS Small Cap Opportunities Company Ltd (ASX: NSC) is one of the listed investment companies (LIC) operated by Naos.

That particular LIC looks at businesses with market capitalisations between $100 million and $1 billion.

The fund manager has a number of investment focuses. It looks for businesses that are good value with long term growth potential. With its portfolio, Naos believes it's better to have a quality portfolio rather than numerous holdings. That's why it only holds around 10 positions in each fund, with each ASX share representing a high-conviction position.

Naos invests in the small cap ASX shares for the long-term. It considers the performance and the liquidity of its positions whilst ignoring the index. Performance can sometimes be quite variable when compared to the index.

It looks to invest purely in industrial companies whilst also considering the ESG factors (environmental, social and governance).

COG Financial Services Ltd (ASX: COG)

COG was the only business in the Naos Small Cap Opportunities portfolio to give a meaningful update during January.

This small cap ASX share, as the name suggests, provides a number of financial services including finance, broking, aggregation and it also owns a stake of a debenture issuer.

Naos explained that COG revealed its FY21 half-year net profit after tax and amortisation (NPATA) would be $10.1 million, which would be an increase of 140% compared to the prior corresponding period.

The fund manager was pleased that the profit growth is translating into strong free cash flow with unrestricted cash and term deposits of $53 million (not including the $17 million investment in Earlypay Ltd (ASX: EPY)), compared to a market capitalisation of $149 million with minimal gross debt.

Naos said the small cap ASX share's profit growth was driven by two main factors, the first of these being the finance, broking and aggregation division, where margins have increased as the business continues to improve efficiencies through automation as well as offering complementary services to their clients such as insurance broking.

The other key driver, according to the fund manager, was the increased ownership of debenture issuer Westlawn Finance. Naos believes that Westlawn has continued to be a beneficiary in the growth of the debenture book, as well as the growth of its insurance broking arm.

COG said that it will be rolling out a 'hub and spoke' insurance broking model to all their owned and aggregated broker members in the coming months.

BSA Limited (ASX: BSA)

Naos describes BSA as a solutions-focused technology services small cap ASX share.

BSA assists clients in implementing their physical assets, needs and goals in the areas of building services, infrastructure and telecommunications. BSA clients include the National Broadband Network (NBN), Aldi Supermarkets, Foxtel and the Fiona Stanley Hospital.

The fund manager outlined the investment case for BSA. Even though the company had an eventful 2020, Naos thinks there are some significant catalysts.

The first relates to the $4.5 billion that the NBN is looking to spend over the next three years to continue to upgrade specific parts of the network. Naos believes that the small cap ASX share is well positioned to secure part of this work as it continues to deepen its relationship with the NBN, as demonstrated through its recent contract win.

Secondly, Naos thinks the recent acquisition of Catalyst One provides an opportunity to potentially transform a $15 million revenue business into a $100 million business over the next three to five years if BSA can successfully combine the Catalyst One offering with the existing skillset of the business to offer a one-stop solution for customers around both their current and future wireless capability needs.

The fund manager also said that BSA could be more aggressive with an active buyback and a higher payout ratio could be achieved given the large cash balance on the balance sheet.

The post 2 little-known small cap ASX share picks by this fund manager appeared first on The Motley Fool Australia.

What is Naos Asset Management's investment approach?

Naos is led by chief investment officer (CIO) Sebastian Evans. NAOS Small Cap Opportunities Company Ltd (ASX: NSC) is one of the listed investment companies (LIC) operated by Naos.

That particular LIC looks at businesses with market capitalisations between $100 million and $1 billion.

The fund manager has a number of investment focuses. It looks for businesses that are good value with long term growth potential. With its portfolio, Naos believes it's better to have a quality portfolio rather than numerous holdings. That's why it only holds around 10 positions in each fund, with each ASX share representing a high-conviction position.

Naos invests in the small cap ASX shares for the long-term. It considers the performance and the liquidity of its positions whilst ignoring the index. Performance can sometimes be quite variable when compared to the index.

It looks to invest purely in industrial companies whilst also considering the ESG factors (environmental, social and governance).

BSA Limited (ASX: BSA)

Naos describes BSA as a solutions-focused technology services small cap ASX share.

BSA assists clients in implementing their physical assets, needs and goals in the areas of building services, infrastructure and telecommunications. BSA clients include the National Broadband Network (NBN), Aldi Supermarkets, Foxtel and the Fiona Stanley Hospital.

In a recent monthly update, Naos pointed out that BSA announced two significant releases that the fundie believes will provide the company with an excellent base of work with tier-1 clients for the foreseeable future.

Naos said that most significantly, BSA was able to secure a renewal contract with NBN for up to 8 years commencing in early 2021.

Based on the initial contract revenue figures, BSA has secured a greater share of the overall NBN maintenance work due to what the fundie believes has been high levels of service and customer satisfaction, which has allowed BSA to gain market share from far larger competitors.

BSA also announced in December that it had successfully secured a five-year contract with Telstra Corporation Ltd (ASX: TLS), focusing on property and telecommunication asset works in Tasmania and Victoria.

In addition to those two contract wins, over 2020 BSA was able to secure a new contract with Foxtel as its sole contract provider. It was also able to successfully move into the mobile and wireless space with clients such as the NSW Telco Authority.

Naos said that if the small cap ASX share can continue to innovate in the way it meets and exceeds its clients requirements then the fundie believes BSA has the potential to be a business that generates more than $650 million of revenue.

According to Commsec, the BSA share price is valued at 10x FY23's estimated earnings.

Big River Industries Ltd (ASX: BRI)

Big River describes itself as an integrated Australian timber products business that operates across the full continuum from procurement of raw materials through to sale of finished products to end users.

Naos pointed out that the small cap ASX share announced a large acquisition of a business called Timberwood for a consideration of $24 million which equates to 5.1x the pro forma FY20 earnings before interest, tax, depreciation and amortisation (EBITDA).

Timberwood is a specialty manufacturer and distributor of a range of panel products. The acquisition was majority funded by a $20 million placement which, after the acquisition of Timberwood and the closure of the Wagga Wagga facility, will provide Big River Industries with significant financial flexibility to continue to acquire similar complementary businesses.

The company also provided a trading update, it's now expecting underlying net profit after tax to be more than 10% higher than the prior corresponding period. Naos said this is a strong result considering the prior period didn't include COVID-19 impacts.

The post 2 little-known small cap ASX shares rated as buys by fundie appeared first on The Motley Fool Australia.

Four shares that are climbing more than most today are listed below. Here's why they are storming higher:

AVZ Minerals Ltd (ASX: AVZ)

The AVZ Minerals share price has jumped over 17% to 11.5 cents. This follows the announcement of an offtake agreement by the lithium miner this morning. AVZ has signed a strategic, long-term offtake partnership with GFL International, a subsidiary of China's largest lithium compounds producer, Ganfeng Lithium. GFL has signed on to take 30% of its Manono Project's initial saleable yearly tonnage.

BrainChip Holdings Ltd (ASX: BRN)

The BrainChip share price has rocketed 29% higher to 42 cents. Investors have been buying the artificial intelligence company's shares after the release of two announcements. The first revealed that NASA has placed an order for its Akida Early Access Evaluation Kit. Whereas the second announcement reveals that it signed an intellectual property license agreement with Renesas Electronics America.

BSA Limited (ASX: BSA)

The BSA share price is up 3% to 34 cents. The catalyst for this was news that the technical services company has entered an agreement to provide Telstra Corporation Ltd (ASX: TLS) with field operations services in partnership with Kordia Solutions. The agreement has an initial term of three years and is projected to generate around $25 million in revenue in the first year of the contract.

Credit Corp Group Limited (ASX: CCP)

The Credit Corp share price has surged 19% higher to $29.63. This follows the release of an announcement which reveals that it has entered into a binding agreement to acquire the Australian Purchased Debt Ledger (PDL) book of Collection House Group Limited (ASX: CLH). Credit Corp has agreed to pay a total consideration of approximately $160 million plus the provision of a short-term loan of $15 million, which is expected to be fully repaid within 9 months.

The post Why AVZ Minerals, BrainChip, BSA, & Credit Corp shares are storming higher appeared first on The Motley Fool Australia.

The technical services company announced after yesterday's market close that it has secured a multi-year agreement for its field operation services. The BSA share price closed flat at 33 cents in trading yesterday.

What did BSA announce?

In the release, BSA advised it has entered an agreement to provide Telstra Corporation Ltd (ASX: TLS) with field operations services in partnership with Kordia Solutions.

BSA provides installation and maintenance solutions to the broadcast and telecommunications industries. Kordia Solutions focuses on end-to-end telecommunications, communications, broadcast and servicing infrastructure needs.

The field operations services agreement will see BSA provide Telstra with a range of services. These includes designing and constructing building systems services across its existing Victoria and Tasmanian properties. In addition, the company will perform major telecommunications work in both states that will involve asset relocation and delivery of wideband connectivity.

BSA said the initial term of the deal will be for a 3-year period. This can be extended on Telstra's behalf for an additional two 1-year options.

The new deal is projected to generate around $25 million in revenue for BSA's first year of the contract. While this is based on forecasted work volumes carried out, further opportunities are expected to arise in the later years.

What did the managing director say?

BSA managing director Tim Harris, welcomed the deal, saying:

BSA is extremely proud to have teamed with Kordia to secure this contract and to begin a collaborative working relationship with Telstra. We look forward to a long and successful partnership as we bring our expertise in service delivery and customer experience to Telstra and its customer base.

About the BSA share price

The BSA share price has been on peaks and troughs throughout 2020. Reaching as high 41 cents in January, before falling as low as 23 cents in March due to the COVID-19 sell-off.

BSA has market capitalisation of $143 million at its current price.

The post Why the BSA (ASX:BSA) share price is on watch today appeared first on The Motley Fool Australia.

At the time of writing, the BSA share price is trading up 6.9% at an intraday high of 31 cents. In comparison, the All Ordinaries Index (ASX: XAO) is up 0.8% to 6,922 points.

New multi-year contract

In today's release, BSA advised it has secured a major contract with nbn to provide activation and assurances services.

The unified field operations agreement will see BSA work on fibre to the premise (FTTP), fibre to the node (FTTN), fibre to the basement (FTTB), fibre to the curb (FTTC), and hybrid fibre coax (HFC) network infrastructure.

Scheduled to begin in early March 2021, the new deal will see BSA increase its base market share. Revenue generated in the first year of the contract is estimated to be in the range of $85 million. However, the company noted that further opportunities could arise in the future, allowing it to increase its earnings.

The initial term of the deal will be for a 4-year period. This can be extended on nbn's behalf for an additional two 2-year options.

Furthermore, under nbn's regional allocation model, BSA will be able to operate in regional areas across New South Wales and Victoria. Additional regions will be assigned at nbn's discretion.

What did management say?

Commenting on the deal, BSA managing director Tim Harris said:

We are extremely proud to have secured this contract and continue our long-standing collaborative partnership with nbn. This contract positions BSA ideally to be able to assist nbn deliver on their strategic goals moving forward, utilising our exceptional track record of service delivery and customer experience.

How has the BSA share price performed?

This has been a turbulent year for the BSA share price, reflecting ups and downs throughout the year. The company's shares reached a 52-week high of 41 cents in February before falling to a low of 23 cents in March.

The post Why the BSA (ASX:BSA) share price has surged 7% higher today appeared first on The Motley Fool Australia.

What is Naos Asset Management's investment approach?

Naos is led by chief investment officer (CIO) Sebastian Evans. NAOS Small Cap Opportunities Company Ltd (ASX: NSC) is one of the listed investment companies (LIC) operated by Naos.

That particular LIC looks at businesses with market capitalisations between $100 million and $1 billion.

The fund manager has a number of investment focuses. It looks for businesses that are good value with long term growth potential. With its portfolio, Naos believes it's better to have a quality portfolio rather than numerous holdings. That's why it only holds around 10 positions in each fund, with each ASX share representing a high-conviction position.

Naos invests in those ASX shares for the long-term. It considers the performance and the liquidity of its positions whilst ignoring the index. So performance can sometimes be quite variable when compared to the index.

It looks to invest purely in industrial companies whilst considering the ESG factors (environmental, social and governance).

What are some of the ASX small cap shares that it thinks are opportunities?

In its latest monthly update for 30 September 2020, Naos gave the latest commentary for some of its positions.

Over The Wire Holdings Ltd (ASX: OTW)

Naos describes Over The Wire as a founder led, 'B2B' (business to business) provider for IT and telecommunications systems. The ASX small cap share's purpose, according to Naos, is to simplify technology to empower business through service offerings such as a national voice network, public cloud, cyber security services and on-demand cloud connectivity.

Naos explained that Over The Wire recently announced the acquisition of cloud business Digital Sense Hosting, which provides most of its services to enterprise and government clients. The fund manager believes that this is an excellent strategic fit for the business for numerous reasons.

Firstly, the founders of Digital Sense will be taking a significant portion of Over The Wire shares. The business has a revenue profile that is 90% recurring in nature. The offering of Digital Sense will increase Over The Wire's capability in that sector of the market and bring with it a sophisticated client base.

Naos pointed out that the small cap ASX share has now made two significant acquisitions in a short period of time that could potentially increase the earnings before interest, tax, depreciation and amortisation (EBITDA) by $14 million over the next 24 months. The fundie firmly believes that the ASX share has the potential to generate a normalised run-rate of more than $35 million of EBITDA in FY22, which together with significant free cash flow generation, "should" see Over The Wire command a premium EBITDA multiple.

BSA Limited (ASX: BSA)

Naos describes this small cap ASX share as a solutions-focused technical services organisation. BSA assists clients in implementing their physical assets, needs and goals in the areas of building services, infrastructure and telecommunications. Some of BSA's clients include the NBN, Aldi. Foxtel and the Fiona Stanley Hospital.

Although no company specific announcement was released by BSA, the NBN – BSA's largest customer – announced plans to upgrade the existing network by spending up to $4.5 billion over the next two or three years. Naos said the upgrade will focus on providing fibre to homes that are currently on the fibre to the node technology as well as spending around $400 million on upgrading HFC connections.

Naos believes this is a "significant" opportunity for the small cap ASX share to secure further works with the NBN, as the vast majority of all BSA work with the NBN to date has been around the so called 'last mile' between the node and the connection to the home.

The fundie said that if BSA can secure some of this work, it is not inconceivable that it could present an opportunity worth $100 million to $250 million per annum over the next two to three years. Just as importantly, Naos believes the renewal process for the operations and maintain master agreement (OMMA) is underway and an outcome is expected before Christmas. If BSA can secure an extension to this contract as well as new works under the upgrade plan, then there is potentially a period of "significant revenue growth ahead".

The post 2 top ASX small cap shares to buy according to this fundie appeared first on The Motley Fool Australia.

Firstly, they offer some potentially higher speculative returns. Secondly, they don't always move with the main market, such as the S&P/ASX 200 Index (ASX: XJO). This can sometimes be a blessing in disguise.

The ASX 200 Index is looking a little flat right now. So, while it decides which direction it wants to move in, take a look at these two cheap small caps that are showing potential.

2 cheap small cap stocks to consider buying

BSA Limited (ASX: BSA)

About BSA

BSA Limited is a technical services organisation. It provides solutions to help clients implement the physical assets in the areas of building services, infrastructure and telecommunications. BSA runs its business and services through three main divisions – BSA Build, BSA Connect and BSA Maintain.

Additionally, BSA provides consulting services through its BSA Think arm. Consulting helps clients realise solutions by enabling them to tap into a knowledge and innovative ideas database in the following areas:

• Asset management
• Design and building information modelling (BIM)
• Energy management and sustainability
• Cost planning
• Project management
• Compliance and certification

BSA has a market cap of around $116 million. 

Opportunity

The BSA share price is currently selling for 27 cents at the time of writing. This is a substantial discount of more than 40% to its September 2019 highs of 46 cents. One thing I noticed about the BSA share price is that it has bounced higher several times before after reaching levels of 23 to 27 cents.

We are currently in that area of value again and, I believe, it's an opportunity to pick up this small cap stock at a great price. A bounce here could see it back at levels higher than 40 cents, resulting in potential returns of 40% or more.

Financially, BSA is in a healthy position with assets exceeding liabilities. Consider BSA as one of the cheap small cap stocks for your portfolio.

Ava Risk Group Ltd (ASX: AVA)

About Ava

Ava Risk Group is a leading provider of risk management services and technologies. It services clients in the commercial, industrial, military and government sectors.

This company delivers solutions that are high tech and complex. It helps clients tackle risk management threats to perimeters, pipelines and data networks. Using bio metrics, card access control and locking, as well as secure international logistics, storage of high value assets and risk consultancy services, Ava delivers a suit of solutions. 

A point to note about Ava is that it actually has a group of companies with specialist skills under its brand:

• Future Fibre Technologies – a fibre optic, intrusion detection and location system specialist.
• BQT Solutions – a security card, bio metric reader and electromagnetic lock developer, manufacturer and supplier.
• Ava Global Logistics – a risk management specialist firm targeting the international logistics market.

Ava has a market cap of around $73 million. 

Opportunity

The Ava share price had been largely sitting in the range of 10 to 20 cents for around three years. In 2020 however, the Ava Risk Group share price has risen more than 100% to currently trade at 33 cents at the time of writing. Interestingly, the last time the Ava share price tried to break past the 30 to 36 cents range in 2016, it failed and fell back down to lows of around 15 cents. So we now have another opportunity to try and break past this resistance level. Breaking up and above 36 cents could see the share price attempt to revisit the previous lofty heights of more than $1.00 it saw in 2015.

Financially, Ava is in a healthy position with assets exceeding liabilities. 

Foolish takeaway

Cheap, small cap stocks can sometimes bring a world of trouble with them. These companies are often new or struggling financially.

The difference with these two companies is that they are financially healthy with asset bases exceeding their liabilities. Additionally, they have established businesses and client bases.

Buying small caps is no different to buying larger companies in that investors still need to do the appropriate research before jumping in. However, investors do need to be aware that smaller companies can often be more volatile than large caps. But having a small amount of exposure to cheap small caps in your portfolio can prove very rewarding if they perform well.

The post 2 cheap small cap stocks appeared first on The Motley Fool Australia.

Here's a short recap of the Australian market:

• S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) higher 0.95% to 6.851.80
• ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) higher 0.89% to 6,950.80
• AUD/USD at US 68 cents
• Gold at US$1,459.33 an ounce
• Brent Oil at US$64.15 a barrel

One of the best-performing ASX 200 shares today was the Bravura Solutions Ltd (ASX: BVS) share price which jumped 14.25%.

Another of today's leaders was fast food business Collins Foods Ltd (ASX: CKF), its share price climbed 6.5% today after releasing its result.

The Bank of Queensland Limited (ASX: BOQ) share price fell a further 4.2% after the regional bank raised some capital earlier this week.

News of the NBN Co giving telcos cheaper access to the NBN sent the Telstra Corporation Ltd (ASX: TLS) share price higher by 2.8% as it also held an investor day and gave profit guidance. The TPG Telecom Ltd (ASX: TPM) share price also rose by 4.25% in response to that news.

The share price of Westpac Banking Corp (ASX: WBC) declined by 0.4% after the bank lost out on being one of the banks involved in a federal government scheme after the AUSTRAC scandal.

The Worley Ltd (ASX: WOR) share price rose by 2.7% after making an agreement with Exxon Mobil.

Finally, the share price of BSA Limited (ASX: BSA) rose 5.1% after holding its AGM today.

Here are some of today's top stories:    

• What did Telstra tell us about its dividend today?
• How to build a $100k share portfolio by 30
• Should first home buyers be rushing to buy a property?
• 3 ASX retail shares to put on your Christmas watchlist

The post ALL ORDINARIES finishes higher Wednesday: 8 ASX shares you missed appeared first on The Motley Fool Australia.

Naos is a fund manager that believes in holding a high-conviction portfolio of businesses, typically around 10 holdings, that are industrial in nature and worth holding for the long-term.

In the listed investment company's (LIC's) March 2019 update, Naos outlined three of its holdings it believes could do well this year:

MNF Group Ltd (ASX: MNF)

MNF is a leader in providing voice over internet protocol services and other similar offerings. The share price is down around 25% over the past year, but Naos said a catalyst which could boost MNF is if it achieves its second half FY19 earnings and that the FY20 guidance may be too conservative.

The upcoming launch of the Singapore operations also has Naos interested with additional geographical expansion a possibility in the future.

I agree that MNF looks interesting at this price level, but it is very important that MNF does indeed hit its guidance, or the share price could take another tumble.

Consolidated Operations Group Ltd (ASX: COG)

For readers unfamiliar with this one, it's a financing and leasing business. Naos pointed to the fact that COG has received a number of informal and preliminary enquiries as a reason why COG's momentum is one to keep an eye on.

The potential for COG to launch a white label finance product that is funded or partnered with a big four bank for prime auto loans is also exciting, according to Naos.

Anything in the loan space is a very interesting opportunity at the moment. Whilst the royal commission is causing banks to be much more cautious about lending these days, the slowing Australian economy could mean a rise of loans going bad.

BSA Limited (ASX: BSA)

BSA assists clients in building services, infrastructure and telecommunications. It is a beneficiary of the expanding NBN, but Naos thinks the catalyst for BSA could be the conclusion of the strategic review of the HVAC Build segment and potential acquisitions that would add other strings to BSA's bow.

BSA itself has said there is a strong pipeline of opportunities in all of its core markets and it has identified potential in other markets.

Foolish takeaway

Each of these companies are a lot smaller than typical ASX200 growth shares, so they are likely to be more volatile than large caps. However, each of them have promising potential over the next few years – I can see why Naos owns them.

The post Fund manager reveals 3 ASX small caps that could beat the market this year appeared first on The Motley Fool Australia.

Four shares that have failed to follow the market higher today are listed below. Here's why they have started the week in the red:

The Bapcor Ltd (ASX: BAP) share price is down 1.5% to $6.73 following the release of a broker note out of UBS. According to the note, the broker has downgraded Bapcor's shares to a neutral rating from buy largely on valuation grounds after a strong run. UBS has increased the price target on its shares to $7.00, though.

The BSA Limited (ASX: BSA) share price has tumbled almost 12% to 26.5 cents after providing a market update. According to the release, the Heating, Ventilation and Air Conditioning (HVAC) Build commercial market continues to be highly competitive both in terms of pressure on margins and generally accepted contractual risk profiles. As a result, the company's HVAC business has continued to suffer losses and group EBITDA for the year is expected to be $8 million to $10 million compared to $11.1 million in FY 2017.

The Bubs Australia Ltd (ASX: BUB) share price has returned to trade and fallen almost 4% to 86 cents. The infant formula hopeful was in a trading halt while it completed its share placement to raise $40 million at 75 cents per share through professional and sophisticated investors in Australia and internationally. Management advised that the proceeds will be used to enhance its financial flexibility and provide working capital to support new strategic opportunities and growth momentum, particularly in relation to the China market.

The Telstra Corporation Ltd (ASX: TLS) share price has fallen 2% to $2.88 despite there being no news out of the telco giant. But considering its strong run last week and its investor day event being just days away, some shareholders appear to be taking a bit of profit off the table. While I think Telstra is good value at this level, I would wait to see what comes out of the event later this week.

The post Why these 4 ASX shares have started the week in the red appeared first on The Motley Fool Australia.

I believe the recent decline in the small cap index has created an opportunity for investors to snap up some fledgling companies at more reasonable prices.

Eight shares which the fund managers are tipping to shine in 2017, according to the Australian Financial Review are listed below. Should you buy them today?

BSA Limited (ASX: BSA)

This technical services contracting company has almost doubled in value this year thanks largely to a series of significant contract wins. As well as contracts with the NBN, BSA recently announced a three-year contract with Foxtel. BSA will handle around 50% of the installation and maintenance volumes. At 12x full year earnings I think BSA looks like good value.

CBL CORP FPO NZX (ASX: CBL)

CBL is a New Zealand-based insurer and reinsurer focused on credit and financial risk. Its shares are changing hands at just 10x estimated FY 2017 earnings. At the current price it could be worth a closer look, in my opinion.

Kidman Resources Ltd (ASX: KDR)

This lithium miner has seen its share price rise an incredible 576% in 2016. Whilst I wouldn't expect to see the same sort of return in 2017, if lithium prices continue to rise then Kidman could be in a position to prosper. It is a high risk investment, though.

Nick Scali Limited (ASX: NCK)

Whilst I am a huge fan of this furniture retailer, I do have a couple of concerns. As an importer of furniture a weak Australian dollar will be a headwind for the company. Costs can of course be passed onto the consumer, but if the housing boom subsides and demand drops, Nick Scali may have to absorb these costs and take a hit to its margins.

NRW Holdings Limited (ASX: NWH)

NRW provides diversified services to resource and infrastructure sectors in Australia. As I'm reasonably bearish on commodity prices in 2017 I wouldn't choose to invest in NRW. But if you're bullish on commodities then you could do a lot worse than this engineering company.

Smart Parking Ltd (ASX: SPZ)

As well as a number of other services, Smart Parking provides car parks with digital display signage and high-intensity LED lighting that guides drivers to available spaces. The company is now in 190 car parks worldwide and growing fast. Smart Parking is definitely worth a closer look in my opinion.

TRILOGYINT FPO NZX (ASX: TIL)

Trilogy International is a New Zealand-based manufacturer and wholesaler of home fragrance, bodycare, and natural skincare products. Although it has a lot of promise, due to its mixed first-half result I would hold off an investment until it shows signs of improvement.

Webjet Limited (ASX: WEB)

Webjet won't be classed as a small cap share for much longer if it continues its incredible growth. The online travel agent recently revealed that bookings growth in the consumer market continues to outperform the market by more than four times. As a result, it has forecast EBITDA (earnings before interest, tax, depreciation and amortisation) growth of 62% in FY 2017. Webjet is a strong buy in my opinion.

The post 8 small-cap shares tipped to shine in 2017 appeared first on The Motley Fool Australia.

Still, that's not as bad these four, which have seen their share prices tumble.

Clean TeQ Holdings Limited (ASX: CLQ) saw its share price slammed down 8.3% to $0.445, and has now dropped 30% since hitting 63.5 cents a week ago. Yesterday, Clean TeQ's share price dropped as much as 16.5% before making a recovery, as investors continue to worry about the results of the Pre-Feasibility Study (PFS) on the company's Syerston nickel, cobalt and scandium project. As we wrote yesterday, Clean TeQ estimates it will cost more than $900 million to get the project up and running – which is scaring investors away.

BSA Limited (ASX: BSA) share price dropped 6.4% to $0.295, despite no news from the technical services contracting company. BSA had seen its share price rise more than 60% since the start of this year, including winning a five-year telecoms infrastructure contract working on the National Broadband Network (NBN). Revenues in the first year alone are expected to reach $50 million. The share price sell-off could be due to some investors taking profits after the strong run-up to 37 cents in August.

OFX Group Ltd (ASX: OFX) share price has dropped 6.8% to $1.77. The currency exchange and international payments group has now lost 45% of its value since the start of this year, including ~40% in one day in early February. That came after the company announced that it had dropped discussions with suitor Western Union and then announced big cuts to its forecast for the 2016 financial year. Once a market darling, OFX appears to be facing substantial competition in its markets and the future is far from certain.

Altium Limited (ASX: ALU) sank 5.5% to $8.22 and the share price has now lost more than 17% since hitting a high of $9.98 in early September. Altium makes software that is used to design electronic products such as printed circuit boards (PCBs). The company has had a phenomenal run in the past few years rising 6,775% over the past 5 years thanks to demand for its products. But it seems the share price may have well run too high too fast and some investors are clearly taking some profits off the table.

The post 4 more shares tumbling on the ASX today appeared first on The Motley Fool Australia.

Newcrest Mining Limited (ASX: NCM) is Australia's biggest gold miner and the fifth largest in the world. Although the stock has performed well in the last year, Prescott believes it could double again from here.

Newcrest is a very low cost producer and has decades' worth of reserves. However, the stock has an enterprise value of $22.4 billion which looks quite expensive based on the current gold price and production rates of the company.

Whilst it might be possible for Newcrest to continue to eke out further productivity gains, it has no control over the gold price which is the key driver of profitability. If you believe that the price of gold is going up for a sustained period of time, then perhaps an investment in Newcrest makes sense.

Out-of-favour printing company PMP Limited (ASX: PMP) faces structural headwinds as companies increasingly turn to online channels for marketing.

Lanyon became a substantial holder of the stock back in early 2013 when it was trading at around 20 cents compared to a price of 58.5 cents today.  However, Prescott says that industry consolidation could cause the share price to rise further.

PMP records a high annual non-cash depreciation charge in its accounts of over $30 million relating to old plant and equipment. The company is not spending anywhere near this amount of money replacing these assets each year and therefore there is a large discrepancy between reported profits and true cash flows.

At 20 cents the stock was (incorrectly) valued on its reported profits but the price is now almost three times higher and so the valuation gap has largely closed. Given the tough industry conditions facing PMP, it seems unlikely that shareholders will continue to experience the robust returns of recent years.

BSA Limited (ASX: BSA) provides services to the telecommunications industry and installs and maintains heating and ventilation systems in large buildings. Prescott believes that the market is yet to cotton on to the company's NBN revenue opportunity and that a share price re-rating is on the cards.

Lanyon accumulated stock in BSA at well below today's price of 30 cents including participating in a capital raising in 2014 at a price of 11 cents. The company issued an earnings downgrade as recently as July and so it is far from certain whether the stock will continue to rise from here.

The post Top fund manager names 3 deep value stocks appeared first on The Motley Fool Australia.