That helped the All Ords post a gain of 1.2% for the first week of trading in 2023.

Investors will certainly welcome this start to the new year after All Ordinaries shares dropped 7.2% in 2022. Though it may be too early to hope for a return to 2021 levels, when the index gained 13.6% over the calendar year.

While the 1.2% gains represent a solid start to 2023, these three All Ordinaries shares delivered far more in the first week.

As you'll note below, all three of the top performers this past week suffered heavy losses in 2022. With them now leading the charge in the new year, investors look to be doing some bargain hunting.

Top 3 All Ordinaries share gainers this week

The third-best performer in the first week of trade was gold miner Alkane Resources Ltd (ASX: ALK).

Alkane has a market cap of $383 million.

Like the other top-performing All Ordinaries shares covered in this article, the Alkane share price fell heavily in 2022, down 41%.

Unlike the other two stocks, Alkane did release positive price-sensitive news this week. The Alkane share price closed up 11% on Thursday after the company upgraded its FY2023 production guidance at its Tomingley Gold Operations in New South Wales.

This helped Alkane deliver a 24% gain in the first week of trading in 2023, finishing the week at 67 cents per share.

The number two spot goes to diagnostic imaging company Cyclopharm Ltd (ASX: CYC).

Cyclopharm has a market cap of $125 million.

The All Ordinaries healthcare share tumbled 29% in 2022 but is certainly off to a better start this year. Cyclopharm closed the week up 25% at $1.46 per share.

Which bring us to the best All Ordinaries share performer in the first week of 2023, financial services company Harmoney Corp Ltd (ASX: HMY).

Harmoney has a market cap of $58.4 million.

The stock lost a painful 76% in 2022 but staged a strong rally to kick off 2023, gaining 30% in the first week of trade. Harmoney closed the week trading for 57 cents per share.

The post Can you guess the top 3 performing All Ordinaries shares in the first week of trade? appeared first on The Motley Fool Australia.

The Harmoney Corp Ltd (ASX: HMY) share price is currently surging 20.29% higher, trading at 83 cents a share. In comparison, the S&P/ASX 200 Index (ASX: XJO) is down 0.58% at the time of writing.

Let's take a look at what the company reported today.

What did this ASX financial company report?

Highlights of Harmoney's FY22 preliminary unaudited results include:

• Delivered proforma cash net profit after tax (NPAT) profitability in FY22
• Total group proforma loan book jumped 37% on previous corresponding period (pcp) to $685 million
• Australian loan book soared 113% to $287 million pcp
• New Zealand loan book jumped 3%

What else did Harmoney reveal?

Harmoney is an online personal lender targeting the Australian and New Zealand markets.

A huge growth in customers appears to be underpinning the company's projected profit growth.

The company says its platform is gaining more than 12,000 new customer accounts per month. Of these, 8,000 are providing bank statement information.

It said it passed on a weighted average interest rise of greater than 100 basis points on new lending, in response to rising interest rates.

Commenting on the results, Harmoney CEO and managing director David Stevens said:

Harmoney continues to deliver on its high margin, consumer-direct growth strategy, with its Australian loan book growing by 113%, whilst achieving an enviable net interest margin of 12%, Net lending margin (after losses) of 8.4% and delivering proforma cash NPAT profitability.

Our credit performance has remained strong with losses and arrears at historic lows.

What is ahead?

Looking ahead, Harmoney is expecting Australian loan book numbers to be higher than New Zealand by the first half of FY23.

The company is expecting higher account acquisition, new loans, and net lending margin increases to drive cash NPAT growth in FY23.

Commenting on potential central bank rate rises, Stevens added:

With the second half of the year and the likelihood of increasing central bank rates putting upward pressure on funding costs, Harmoney's hedging program, with around 73% of floating rate borrowings hedged, dampens this impact over the course of the year.

Shareholders will be updated with the company's official FY22 results on 31 August.

Share price snapshot

Harmoney shares have jumped 10% in the past week and around 3% in the past month.

However, this ASX financial company's shares have lost 63% in the past year, and 54% year to date.

For perspective, the benchmark ASX 200 index has lost nearly 9% in the past year.

Harmoney has a market capitalisation of about $83 million based on the current share price.

The post This ASX financial company just became profitable, and its share price is surging 20% appeared first on The Motley Fool Australia.

Below we take a look at the consumer credit company's results for the quarter ending 30 September (Q1 FY22) that look to be driving ASX investor interest.

What results did Harmoney report for Q1 FY22?

The Harmoney share price is soaring after the company reported the biggest quarterly lift in new customer originations in its history.

Australian new customer originations of $31 million increased 885% year-on-year and were up 17% on the previous quarter.

The company's proforma loan book climbed to $517 million. The book yielded a net interest margin of 11% and a net lending margin of 7%.

Its Australian receivables book also showed strong growth, up 58% on the prior quarter to $155 million.

Commenting on the results, Harmoney's CEO, David Stevens said:

Harmoney continues to deliver on its growth strategy with another outstanding quarter despite COVID lockdowns in Australia and New Zealand…

Harmoney's Group loan book, at just over half a billion dollars, is already cash NPAT breakeven on a proforma basis. The company's 100% consumer-direct model and innovative Libra lending platform enables over two thirds of loan applications to be completely automated, providing significant operational leverage and driving profitability as our income grows noticeably faster than our cost base.

Expounding on the company's technology-focused offerings, Stevens added, "Harmoney's consumer-direct marketing technology is world class and generates approximately 10,000 new customer accounts per month across Australia and New Zealand."

Looking ahead

The Harmoney share price may also be getting a boost after the company reaffirmed its market guidance for the full 2022 financial year.

The guidance includes:

• Group proforma loan book of at least $600 million
• Group proforma revenue of at least $92 million
• A net lending margin of at least 7%

Harmoney share price snapshot

Harmoney is a relative newcomer to the ASX. The company's initial public offering (IPO) was on 19 November 2020.

So far in 2021, the Harmoney share price has struggled, down 36.5%. That compares to a gain of 9.76% posted by the All Ordinaries Index (ASX: XAO).

Over the past month, the Harmoney share price has dropped by 2.39%.

The post Why the Harmoney (ASX:HMY) share price is up 8% today appeared first on The Motley Fool Australia.

At the time of writing, shares in Harmoney are now trading up 7.84%, at $2.20. The Harmoney share price was up more than 12% earlier, after hitting an intra-day high of $2.30.

Let's take a look at what Harmoney announced and why investors are scrambling for the company's shares.

Harmoney shares soar on strong originations growth

Earlier today, Harmoney released an update on the company's performance for the second half of FY21.

The update was highlighted by a 144% increase in total new originations for the half. In addition, Harmoney noted that Australian new customer originations grew by 260% in the second half to $47 million.

Overall, Harmoney recorded total group originations of NZ$250 million, compared to $193 million in the first half. The company noted that growth in new customers could lead to a strong increase in repeat customer originations in the following six months.

Harmoney also noted group receivables of NZ$501 million, yielding a net interest margin of 11%. The company's Australian receivables also grew by 33% in the 6 months since December 2020.

Harmoney's CEO and Managing Director David Stevens noted;

"It's pleasing to see Harmoney's new customer originations have surpassed pre-COVID levels. New customer originations is a lead indicator for receivables growth as more customers become eligible for our 3Rs repeat program.".

In addition to its performance in the second half, Harmoney also alluded to forecasts for FY22. The company noted that group receivables are forecast to grow at significantly higher levels in the new financial year. The company cited higher new customer originations and the release of LibraTM 1.7 in Australia.

Harmoney also noted its strong capital position, with undrawn funding lines of NZ$216 million as at 30 June 2021.  

More on Harmoney

Harmoney is an online direct personal lender that operates across Australia and New Zealand. The company provides customers with unsecured personal loans of up to $70,000 that are easy to access and competitively priced.

Despite today's jubilant price action, the Harmoney share price remains more than 22% lower for the year.

The post Harmoney (ASX:HMY) share price surges 12% on update appeared first on The Motley Fool Australia.

The Harmoney share price is up 10.7% during afternoon trade, swapping hands for $1.75.

The consumer credit company provides online direct personal lending services in Australia and New Zealand. Let's take a closer look.

What did Harmoney announce?

In its release, Harmoney reported total group originations for the month grew to NZ$37.8 million. This represents an 800% increase on the NZ$4.2 million achieved over the prior corresponding period.

The record results saw a surge in customer numbers after suffering a heavy impact from COVID-19 during 2020. In New Zealand particularly, loan originations stood at NZ$25.3 million, reflecting a 1,388% jump over the same time last year. Across the Tasman, Australia delivered NZ$11.5 million, a lift of 379% from the previous comparable period.

In addition, the company highlighted its Libra 1.7 technology in doubling the conversion of new customer loans in Australia. Cumulative origination volumes are forecasted to exceed $300 million by FY20, signalling a compound annual growth rate (CAGR) of 180%.

A new updated version, Libra 1.8, is slated for launch in New Zealand around early July this year. Harmoney is predicting that the newer technology will have a similar effect by boosting new lending in New Zealand.

Group receivables at the end of April came to NZ$490 million, slightly above the $485 million attained the month before. Harmoney stated that this metric is forecasted to grow considerably during the second half of 2021.

Lastly, the company also expanded its Australian bank warehouse facility to $177 million and extended it until January 2023. This brings undrawn warehouse capacity to more than $247 million.

Harmoney CEO, David Stevens commented:

Harmoney has accelerated its data-driven marketing program following our listing last November, significantly increasing new customer originations.

…The business is building strong momentum in Australia and has a clear and immediate plan in place for New Zealand originations growth.

About the Harmoney share price

Since listing in late November, Harmoney shares have failed to take off, down almost 50%. Year-to-date performance has fared no better, also sinking roughly 40% for investors.

Harmoney presides a market capitalisation of around $184 million, with approximately 100 million shares on issue.

The post Why the Harmoney (ASX:HMY) share price is storming 10% higher today appeared first on The Motley Fool Australia.

The Harmoney share price closed at $1.95 on Friday.

Harmoney operates in the consumer credit industry, providing online direct personal lending services in Australia and New Zealand. It offers personal loans, car loans, wedding loans, holiday loans, education loans, business loans, and home improvement loans.

Harmoney's strong third-quarter results

Harmoney increased loans to new customers by 60% to NZ$44.1 million in the third quarter of FY21, up from NZ$27.5 million in the second quarter. Its new customer acquisition in Australia was the main growth driver, with record new loan originations of $9.4 million delivered in the month of March 2021.

This saw Harmoney achieve an increase of 148% on January 20211 and 38% growth on March 2020.

Harmoney released its new generation, behavioural credit decisioning and pricing engine called Libra on 17 February, which continues to have a "material impact" on Harmoney's ability to originate loans in Australia.

It is the first technology release from the company that incorporates improvements specifically focused on the Australian consumer. Harmoney's credit risk appetite and profile remains unchanged pre and post-implementation of the new platform.

Harmoney's New Zealand operation also delivered significant growth in new loan originations during the last quarter of NZ$22.7 million. This compares to $17.1 million in the second quarter of FY21 and NZ$8.8 million in the first quarter of FY21.

What did Harmoney management say?

Harmoney CEO David Stevens welcomed the results:

Australia is our biggest opportunity for growth and our recent performance in the region underscores how quickly our platform business can scale. New loan origination in Australia has doubled since updating the technology behind our new lending scorecard, making the credit underwriting process significantly more efficient at attracting and then converting customer enquiries into settled loans.

Importantly, it does not change Harmoney's risk appetite for high-quality, prime customers. It actually illuminates the pathway we are on to achieving our business objective of $1 billion in lending volumes each year – just in Australia. We are very confident in our ability to replicate our New Zealand success in this market.

Harmoney share price snapshot

Harmoney has a market capitalisation of $196 million and its share price has fallen more than $1 since December 2020. It's down 35% in 2021 so far, and 87% against the financial services sector.

The post Harmoney (ASX:HMY) share price on watch after 60% customer growth appeared first on The Motley Fool Australia.

This means the small-cap focused fund is outperforming the S&P/ASX Emerging Companies Accumulation Index by 14% over the period.

Which ASX shares are performing for OC Micro-Cap? Here's what you need to know:

Sezzle Inc (ASX: SZL)

One of the key contributors to its gains in January was buy now pay later provider Sezzle.

It recorded a gain of 30.6% during the month thanks to positive industry developments and its strong performance during the fourth quarter.

OC's analysts commented:

"The +98% day one rise in the Affirm share price made the other listed BNPL providers look cheap in comparison, despite the strong share price run many of these peers had already experienced in 2020. Beyond the relative valuation argument, however, SZL's core US business continues to grow strongly with the December quarter showing growth in underlying merchant sales of +205%."

Pleasingly, OC doesn't believe its growth is finished and suspects it could outpace rival Afterpay Ltd (ASX: APT) this year. And looking further ahead, the fund believes Sezzle has large opportunities internationally.

It explained:

"SZL have launched pilots for potential operations in India and Germany, both of which have the potential to become significant markets in their own right. We continue to own our stake in the business and look forward to catching up with management for their result roadshow in February."

Silk Laser Australia Ltd (ASX: SLA)

Another strong performer for the company was the Silk Laser share price. The laser hair removal, skin treatments and cosmetic injections provider's shares rose 11.8% in January.

OC commented:

"Silk Laser Australia was added to the portfolio in mid-December when the company listed on the ASX and was a strong contributor to Fund performance in January."

The fund manager remains positive on its future thanks to the industry tailwinds it is experiencing.

"It has strong industry tailwinds, particularly in the injectables space (anti-wrinkle injections, derma fillers, lip fillers) which is growing at 25% per annum, and underpinned by the increasing desire for consumers to retain a youthful appearance and increased aesthetic awareness overall."

And while it notes that private equity was selling part of its stake, it is pleased to see management with plenty of skin in the game.

"Whilst the IPO facilitated a partial private equity sell-down, key management retain a material stake and are highly energised to grow shareholder value."

Sezzle and Silk's strong performance managed to offset weak performances from other shares in the portfolio.

These include AMA Group Ltd (ASX: AMA) and Harmoney Corp Ltd (ASX: HMY). They fell a disappointing 19.4% and 17%, respectively, during the month.

The post These ASX shares are helping this fund manager smash the market appeared first on The Motley Fool Australia.