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

Clarity Pharmaceuticals Ltd (ASX: CU6)

The Clarity Pharmaceuticals share price is up 12% to $5.17. Investors have been buying the clinical-stage radiopharmaceutical company's shares after it made a big announcement. Clarity revealed that it has expanded its pipeline with the development of a novel fibroblast activation protein (FAP)-targeted radiopharmaceutical for the diagnosis and treatment of cancer. Executive chair, Dr Alan Taylor, notes that the company has created "a novel product at the benchtop to overcome the shortcomings of competing radiopharmaceuticals by increasing the uptake and retention of the molecule over time."

Omni Bridgeway Ltd (ASX: OBL)

The Omni Bridgeway share price is up 40% to $1.35. This follows the release of an announcement from the litigation funder this morning. Omni Bridgeway revealed that it has entered into a framework agreement with funds managed by Ares Management Corporation. This will see it establish a continuation fund (Fund 9) to acquire OBL's co-investment in 150+ investments across Funds 2/3, Funds 4/5 Series I, and one remaining balance sheet investment. Ares will acquire a 70% interest in Fund 9 for an upfront cash consideration of $310 million, representing an ~80% fair value conversion rate. Omni Bridgeway will retain a 30% interest in Fund 9.

Santana Minerals Ltd (ASX: SMI)

The Santana Minerals share price is up 3% to 46.5 cents. Investors have been buying this gold developer's shares after the New Zealand government gave the green light to the Fast-track Approvals Bill. Following Royal Assent, the Bill will become law and provide a revised platform for the approval of significant development projects in New Zealand. This includes its own proposed Bendigo-Ophir Gold Project near Queenstown.

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan Energy share price is up over 2% to $5.90. This morning, the lithium developer announced the signing of an 879 million euros (A$1.45 billion) conditional debt commitment letter with Export Finance Australia and a group of seven commercial banks for the financing of Vulcan's Phase One Lionheart Project. Vulcan's chief financial officer, Felicity Gooding, commented: "The debt commitment letter is a significant step in our financing of the Project, and we will continue to progress discussions over the coming period."

The post Why Clarity, Omni Bridgeway, Santana Minerals, and Vulcan shares are pushing higher today appeared first on The Motley Fool Australia.

The soaring company in question is Omni Bridgeway Ltd (ASX: OBL), which provides finance for litigation and legal dispute claims.

Omni Bridgeway shares closed yesterday at 96.5 cents. During the Wednesday lunch hour, they changed hands for $1.385 apiece, up 43.5%.

Here's what's grabbing investor interest today.

ASX All Ords stock takes off on $310 million deal

The Omni Bridgeway share price is soaring after the ASX All Ords stock announced it has entered into a framework agreement with funds managed by Ares Management Corp (NYSE: ARES).

The agreement is for the establishment of a continuation fund to acquire OBL's co-investment in 150-plus investments across a range of underlying funds, along with one remaining balance sheet investment (together the Fund 9 assets).

Ares will acquire a 70% interest in Fund 9 for an upfront cash consideration of approximately $310 million. Omni Bridgeway will retain a 30% interest in Fund 9. Ares will receive a preferred return on its 70% interest in Fund 9, while OBL will retain further profit rights on the whole portfolio through its 30% interest.

The ASX All Ords stock likely stoked investor enthusiasm, noting that the upfront payment of $310 million achieves a cash multiple on invested capital (MOIC) of around 3.2 times on Omni Bridgeway-only deployed capital.

What did management say?

Commenting on the deal sending the ASX All Ords stock rocketing today, Omni Bridgeway CEO Raymond van Hulst said, "I am very pleased with this transaction as it delivers on all of our stated strategic objectives at once."

He said those strategic objections include:

• Validating the fair value of the company's book and the quality of its underwriting and valuation methodologies
• Improving the cost coverage rate
• Reducing debt to zero
• Enforcing Omni Bridgeway's position as the leading and institutional-grade funds management platform for legal assets

van Hulst added:

With 35 years of history in legal finance, Omni Bridgeway pioneered the asset class, and I am pleased we continue leading the innovation while legal assets are becoming a more mainstream asset class.

Jan-Paul Kobarg, partner at Ares Management, said:

Leveraging our scale, structuring capabilities and flexible capital base, we are pleased to invest alongside OBL in this innovative structure for the asset class…

We believe this transaction accelerates OBL's transition to a capital light funds management model in a growing asset class where it is a recognised global leader.

With today's intraday gains factored in, the ASX All Ords stock is trading right about where it was 12 months ago.

The post Guess which ASX All Ords stock just rocketed 44% appeared first on The Motley Fool Australia.

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

Lovisa Holdings Ltd (ASX: LOV)

The Lovisa share price is down 6.5% to $30.34. This follows news that the fashion jewellery retailer's future CEO, John Cheston, has been sacked by Smiggle for serious misconduct. This may have sparked concerns that this will threaten his appointment as Lovisa's new leader and that the company will have to look elsewhere now for a new CEO to lead its global expansion. The termination announcement stated: "The Just Group board considers that Mr John Cheston has engaged in serious misconduct and a serious breach of his employment terms and on that basis his employment has been terminated today."

Omni Bridgeway Ltd (ASX: OBL)

The Omni Bridgeway share price is down 12% to 92.2 cents. Investors have been selling this litigation funder's shares despite there being no news out of it. However, it is worth noting that its shares have come under pressure since it released its FY 2024 results and reported a 10% decline in total gross income and revenue to $277 million.

Premier Investments Limited (ASX: PMV)

The Premier Investments share price is down 4.5% to $33.62. This has been driven by the release of a trading update from the Peter Alexander, Just Jeans, and Smiggle owner this morning. Premier Investments revealed that its Premier Retail business expects to report global retail sales of $1.6 billion and EBIT of $341 million for FY 2024. This will be down from $1,643.5 million and $357.9 million, respectively, in FY 2023.

Super Retail Group Ltd (ASX: SUL)

The Super Retail share price is down 7.5% to $16.87. The catalyst for this has been the retail conglomerate's shares going ex-dividend this morning for its upcoming dividend payments. Eligible shareholders can look forward to receiving total fully franked dividends of 87 cents per share next month on 17 October. This comprises a 37 cents per share final dividend and a 50 cents per share special dividend. The good news is that analysts at Citi believe that further special dividends are coming in FY 2025 and FY 2026 thanks to Super Retail's strong cash balance. It is partly for this reason that the broker has a buy rating and $20.00 price target on its shares.

The post Why Lovisa, Omni Bridgeway, Premier Investments, and Super Retail shares are sinking today appeared first on The Motley Fool Australia.

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

Bega Cheese Ltd (ASX: BGA)

The Bega Cheese share price is up 6% to $4.52. This has been driven by the release of the diversified food company's full year results this morning. Bega Cheese reported a 4% increase in revenue to $3.5 billion, a 15% lift in EBITDA to $165.1 million, and a profit after tax of $30.5 million. The latter is up from a $229.9 million loss a year earlier. Looking ahead, the company expects normalised EBITDA in the range of $190 million to $200 million in FY 2025. This represents growth of 15%+ year on year.

Clinuvel Pharmaceuticals Limited (ASX: CUV)

The Clinuvel share price is up 11% to $15.45. This morning, this pharmaceutical company released its FY 2024 results and revealed a 15% jump in revenue to $95.3 million and a 16% increase in net profit after tax to $35.6 million. This strong performance was driven primarily by increased demand for its drug Scenesse. Clinuvel's chief financial officer, Peter Vaughan, commented: "Key financial metrics—including revenue, profit, investment, and asset growth—continue to show consistent year-on-year increases whilst expanding the ability to provide SCENESSE treatment to an increasing number of patients."

Dusk Group Ltd (ASX: DSK)

The Dusk share price is up 16% to $1.05. Investors have been buying this specialist retailer's shares today despite the release of an disappointing full year result. Dusk reported a 7.9% decline in sales to $126.7 million and a 62% reduction in pro forma EBIT to $6.2 million. However, a strong start to FY 2025 appears to have caught the eye of investors. Management revealed that total sales are up 16% and like for like sales are up 12.1% during the first 8 weeks of FY 2025.

Omni Bridgeway Ltd (ASX: OBL)

The Omni Bridgeway share price is up almost 11% to 93 cents. This morning, this litigation funder released its FY 2024 results. It reported a 10% decline in total gross income and revenue to $277 million but a massive jump in profits. The company's net profit after tax was $30.5 million, up from $0.9 million a year earlier. No dividends were declared for FY 2024.

The post Why Bega Cheese, Clinuvel, Dusk, and Omni Bridgeway shares are rocketing today appeared first on The Motley Fool Australia.

Much to the dismay of their shareholders, these shares have just hit 52-week lows or worse. Here's what you need to know:

AVITA Medical Inc (ASX: AVH)

The AVITA Medical share price dropped to a 52-week low of $2.54 on Monday. This means that the regenerative medicine company's shares have now lost around a third of their value over the last 12 months.

Almost all of this decline was generated last month when the company released its first-quarter sales update. That update revealed that AVITA Medical expects to report commercial revenue in the range of US$11 million to US$11.3 million for the quarter. This compares to its previous guidance of US$14.8 million to US$15.6 million.

Management advised that its guidance downgrade is attributable to a slower-than-expected conversion rate of new accounts for its expanded label of full-thickness skin defects.

Interestingly, its first quarter results are being released on Tuesday. So, watch out for them.

Fletcher Building Ltd (ASX: FBU)

The Fletcher Building share price sank to a multi-year low of $2.85 yesterday. This was driven by the release of a disappointing trading update.

That update revealed that market conditions across the company's Materials and Distribution divisions have weakened throughout FY 2024. In light of this, management expects to fall short of its EBIT before significant items guidance of NZ$540 million to NZ$640 million.

It now expects a result in the range of NZ$500 million to NZ$530 million for FY 2024. Management also warned that it expects market conditions to remain challenging in both New Zealand and Australia in the near term.

Fletcher Building shares are now down approximately 36% since this time last year.

Omni Bridgeway Ltd (ASX: OBL)

The Omni Bridgeway share price tumbled to a multi-year low of 77.5 cents on Monday.

Investors were selling the litigation funder's shares after the Federal Court of Australia ruled in favour of Commonwealth Bank of Australia (ASX: CBA) in a shareholder class action.

This is a big loss for the company. It notes that CBA investment's pre-judgment fair value represented approximately 5% of the aggregate A$2.5 billion non-IFRS portfolio fair value at 31 December 2023 and approximately 8% of the A$4.4 billion EPV.

Following this decline, this ASX share is now down by a very disappointing 72% over the last 12 months.

The post 3 ASX shares at 52-week lows or worse appeared first on The Motley Fool Australia.

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

Allkem Ltd (ASX: AKE)

The Allkem share price is up 16% to $15.01. Investors have been scrambling to buy this lithium miner's shares after it announced plans to merge with fellow industry giant Livent. This will create a $15.7 billion lithium monster with significant synergies and a collection of complementary operations.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 8% to $1.10. As well as the above giving the whole lithium industry a boost, Core Lithium released some news of its own this morning. That news included the local government granting it approval for the BP33 underground project. BP33, which would be the second proposed mine at the Finniss Project, has a mineral resource of 10.1Mt @ 1.48% Li2O.

Graincorp Ltd (ASX: GNC)

The Graincorp share price is up almost 10% to $7.78. This morning, the grain exporter released its half-year results and upgraded its guidance for FY 2023. Graincorp now expects a full-year net profit after tax of $220 million to $260 million. This is up from its previous guidance of $180 million to $220 million.

Omni Bridgeway Ltd (ASX: OBL)

The Omni Bridgeway share price is up over 5% to $2.76. This follows the release of an announcement from the class action funder. The company revealed that it has entered into a term sheet to sell a participation in Fund 1 to Gerchen Capital Partners for an initial payment of US$38 million and a deferred fair value of the company's retained residual interest in the Fund of US$35.7 million.

The post Why Allkem, Core Lithium, Graincorp, and Omni Bridgeway shares are racing higher appeared first on The Motley Fool Australia.

So last month's reporting season saw ASX shares punished brutally even if the result slightly missed expectations — or even for just meeting analyst forecasts.

That means there could be some bargains out there for businesses that still have bright long-term prospects.

Here are two examples in Celeste Funds Management's portfolio:

Weak half-year result was just a matter of timing

Litigation funder Omni Bridgeway Ltd (ASX: OBL) watched in horror last month as its share price plunged 25% off a cliff.

In fact, the stock has fallen even further this month to bring the total losses since the start of February to a painful 35%.

The Celeste analysts, in a memo to clients, attributed this to "a weak result" and the retirement of its chief executive.

"Completions in the half were significantly lower than expected and operating costs were materially higher."

However, the Celeste team is not too worried about Omni Bridgeway's longer term prospects.

"With $304 million of commitments during the period, Omni Bridgeway [is] on track to achieve their FY23 target of $550 million," read the memo.

"We think the result and completions remain a timing issue."

Celeste's peers seem to agree that Omni Bridgeway stocks remain attractive.

According to CMC Markets, all three of the analysts covering the stock currently recommend it as a strong buy.

'Strong' pipeline of work coming up

Mining and infrastructure services contractor NRW Holdings Limited (ASX: NWH) also had to shut its eyes during February as its stock price tumbled.

"NRW Holdings fell 16.8% in February post a slightly softer than expected earnings result impacted by weather, delay of new contract awards and investment in North America."

Cash conversion was weaker in the half yearly results, due to "projects' working capital releases and requirements".

The Celeste analysts, though, were optimistic upon affirmation of previous guidance for the full financial year.

"NRW Holdings reiterated FY23 guidance of $2.6 to $2.7 billion revenue and $162 to $172 million EBITA with normalising cash flow."

The company has plenty of work coming up, too.

"NRW's group pipeline is a strong $19.3 billion with orderbook up +$0.9 billion to $4.9 billion."

The professional community isn't quite as unanimous about NRW Holdings as Omni Bridgeway shares.

Current figures on CMC Markets show five out of eight analysts rating NRW shares as a buy.

The post Golden buying opportunity for 2 ASX shares slashed last month: Celeste appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:

Clinuvel Pharmaceuticals Limited (ASX: CUV)

The Clinuvel share price is down 3% to $23.33. This is despite the release of the pharmaceutical company's half-year results, which revealed explosive earnings growth. Clinuvel reported a 19% increase in revenue and a 94% jump in profit after tax. This was driven by growth in prescriptions and expert centres administering the Scenesse therapy.

CogState Limited (ASX: CGS)

The CogState share price is down 25% to $1.22. This neuroscience technology company advised that it expects to report a 12% decline in first-half clinical trials revenue to $17.1 million and breakeven profit before tax. This soft performance has been driven by a slower than expected enrolment of patients by pharmaceutical companies in a small number of their large Alzheimer's trials.

Omni Bridgeway Ltd (ASX: OBL)

The Omni Bridgeway share price has crashed 18% to $2.97. Investors have been selling this class action funder's shares since the release of its half-year results on Thursday. As well as a poor result, which saw Omni Bridgeway report a net loss after tax of $30.1 million, the company revealed that its long-serving CEO would be retiring from the role later this year.

Westgold Resources Ltd (ASX: WGX)

The Westgold share price is down 5% to 91 cents. This morning, this gold miner released its half-year results and reported a 1% increase in revenue to $315 million but an $11.1 million loss after tax. This is down from a $19.9 million profit a year earlier.

The post Why Clinuvel, Cogstate, Omni Bridgeway, and Westgold shares are sinking appeared first on The Motley Fool Australia.

Which stocks to buy?

Fortunately, the team at Celeste Funds Management this week explained why they love three of their holdings for the long run, despite mixed recent performance.

'Strong' update belying the share price tumble 

Insurance services provider PSC Insurance Group Ltd (ASX: PSI) saw its share price plunge 5.2% over January.

That puzzled Celeste analysts, who thought a late December operational update was "strong".

"Trading in 1H23 was ahead of budget with underlying EBITDA growth of 18% to 20% on the prior corresponding period," stated Celeste's memo to clients.

"Given strong 1H23 performance, the full year result is expected to come in at the top-end of the guidance range."

Last May, PSC announced that it was entering into a joint venture with AUB Group Ltd (ASX: AUB) for the retail business of UK brand Tysers.

Unfortunately, that still hasn't got off the ground, due to delays with regulatory approvals from British authorities.

That may have had a bearing on PSC's share price, but Celeste analysts insisted "both companies remain committed". 

"On a global macro level, the January reinsurance renewals should underpin further hardening of insurance premiums and provide a solid tailwind for broker earnings growth."

The PSC share price is up 1.94% compared to a year ago, while paying out a 2.5% dividend yield.

Big sale could return capital to investors

The HT&E Ltd (ASX: HT1) stock price went the opposite way last month, rising a spectacular 16.1%.

The Celeste team attributed this to its jettison of a peripheral business.

"Early in the month, the company announced it had signed a binding agreement to sell its 25% interest in CPaaS business Soprano to Potentia Capital for $66.3 million cash," read the memo.

"The sale price implies an 8.8x multiple on FY22 EBITDA and comes after a previous non-binding agreement to sell the stake to Link Mobility Group AS (OSE: LINK) was terminated in September 2021."

The sale means shareholders of the media company could benefit, either directly or indirectly.

"The disposal of the non-core asset likely moves HT&E to a net cash position providing capital flexibility to both continue to invest in the core radio business and potentially return capital to shareholders."

Despite the great start to 2023, HT&E shares have still plunged more than 44% over the past 12 months.

Portfolio grows 10% in six months

Litigation finance provider Omni Bridgeway Ltd (ASX: OBL) enjoyed an 11.6% boost in its stock price in January.

According to Celeste Funds analysts, the company reported a "strong" December quarter that took the total estimated portfolio value up to $29.8 billion.

That's 10% higher than what it was on 30 June.

"There remains $228 million of indicative opportunities in the investment pipeline, which, if converted, would make up an additional 41% of the FY23 commitments goal."

The Celeste team also noted how a particular investment was offloaded during the quarter.

"The secondary market continues to prove useful in accelerating cash returns."

Omni Bridgeway is also growing overseas.

"The business expanded its geographic footprints in Europe and the US, which should further the diversification of the portfolio and maintain OBL's global competitive advantage."

The Omni Bridgeway share price is up almost 9% over the past year.

The post 3 small-cap ASX shares Celeste is riding off into the sunset on appeared first on The Motley Fool Australia.

That's because they must be doing something right to consistently attract support from investors while other stocks yo-yo up and down.

The analysts at Celeste Funds Management, in a memo to clients this week, pointed out two small-cap stocks that each had a spectacular October. 

They are still holding on to them, confident of further rises:

Bright future even after 'ongoing consistent performance'

Litigation fund Omni Bridgeway Ltd (ASX: OBL) saw its share price rocket 19.6% upwards last month, reported the Celeste team, on the back of "ongoing consistent performance".

"Income conversion for the quarter was lower than expected as a Fund 5 investment was realised earlier than the previously forecast FY27, resulting in an internal rate of return (IRR) of 152%," read the memo.

"Estimated portfolio value (EPV) in FY23 experienced normal slippage to outer years, although pleasingly total EPV increased by 4.4% [from] the June quarter."

Against the odds in a turbulent stock market, Omni Bridgeway shares have climbed in excess of 25% year to date.

The outlook for the coming years is bright, according to Celeste analysts.

"Commitments of $69 million and indicative investment opportunities of $214 million imply the business is on track to meet FY23 commitments guidance."

As of the end of October, Omni Bridgeway was the Celeste Australian Small Companies Fund's largest holding.

Coverage is sparse from other professionals on the litigator, but three out of the four analysts currently surveyed on CMC Markets are rating it as a strong buy.

Rare business where increased debt facility is to be celebrated

Lifestyle Communities Ltd (ASX: LIC) develops, owns and operates land lease properties for older Australians.

The stock price enjoyed a 15.7% rise in October, despite unfavourable conditions for real estate assets.

The Celeste team attributed the ascent on the news of new debt capacity.

"Lifestyle Communities increased its [debt] facility size from $375 million to $525 million, secured as a $150 million, five-year tranche."

The facility in totality now has expiries spread over mid-2025 to late 2027, according to Celeste analysts.

"The debt is earmarked for ongoing land acquisitions and development costs as the business scales up to enable the sale of two communities per annum to move towards three over the next few years."

Celeste's peers are less convinced about Lifestyle Communities than Omni Bridgeway.

According to CMC Markets, three analysts each think the stock is a strong buy and a hold respectively, while one recommends it as a moderate buy.

The post 2 small-cap ASX shares to buy that had a MASSIVE October: fund appeared first on The Motley Fool Australia.

At the time of writing, shares in the litigation financier are trading 11.44% higher at $4.58 apiece.

Let's take a closer look.

Omni Bridgeway sees annual commitments

Key takeouts from the ASX 300 share's results include:

• Record annual commitments of $463.3 million, a gain of 12% year on year
• Funds under management approaching $3 billion
• Growth in estimated portfolio value (EPV) of 35% year on year to $27.2 billion
• Implied embedded value (IEV) increased for the 12 months by 28% to $3.6 billion
• Net profit after tax (NPAT) of $6.5 million, up from an $18 million loss the year prior
• Participated for the first time in the emerging secondary market for litigation assets
• Launched global enforcement business and antitrust team in the US
• Finished the year with $314.1 million in cash and receivables

What else happened for this ASX 300 share?

It was a profitable 12 months for the company. It achieved a record level of investment commitments which expanded the group's portfolio of investments across the globe.

Omni also generated $221 million in gross income and revenue during the year. This stemmed from a variety of sources, it says, including "66 completions, 23 partial completions and two partial sales".

These were spread across various classes of litigation, investment funding structures, and locations.

Meanwhile, the company recognised a net profit after tax of $6.5 million, a substantial gain from FY21's loss of $18.4 million.

It also entered into a new five-year institutional debt facility on 5 May 2022 providing $250 million in liquidity to replace existing debt.

Management commentary

Speaking on the results, managing director and CEO Andrew Saker said:

The group continued to execute on the critical pillars of its five-year business plan including through the refinancing its debt, the launch of a new enforcement focused fund, substantial growth in commitments and the expansion of its product offerings.

The impact from the delayed hearing of legal cases due to COVID is well behind us and these results demonstrate that our fund management model is delivering.

What's next for Omni Bridgeway?

The company has a $550 million to $600 million commitment target, signifying a 20-30% year-on-year increase.

The ASX 300 share hopes to increase funds under management to between $4 billion and $4.5 billion, and will potentially launch additional funds to accelerate this number.

The Omni Bridgeway share price is up almost 24% year to date.

The post Guess which ASX 300 share is soaring 11% on a 'significant improvement' in FY22 appeared first on The Motley Fool Australia.

But it's been a far better day for some All Ords shares. So let's dig into three that have just hit new 52-week highs this Friday.

3 All Ords shares hit new highs on Friday

Omni Bridgeway Ltd (ASX: OBL)

On the surface, it doesn't look like an ultra-exciting day for the Omni Bridgeway share price. This All Ords financial share has gained 0.03% at the time of writing at $4.625 a share. But earlier today, the company rose as high as $4.65 – a new 52-week high for Omni Bridgeway.

It's the highest share price the company has enjoyed since mid-2020. Omni Bridgeway shares have been climbing ever since the litigation funder announced some pleasing annual commitment numbers last month.

Tassal Group Limited (ASX: TGR)

Next up is the All Ordinaries fish-farming company Tassal Group. Like Omni Bridgeway, Tassal shares haven't lit the world on fire with gains today. The company currently sits flat at $5.15 a share, up 0.1% for the day.

However, this gain is sitting on the shoulders of the stellar week the aquaculture company has enjoyed.

$5.16 is a new 52-week high for Tassal. Investors have been flooding into the share ever since Tassal announced that it had accepted a $1.1 billion ($5.23 per share) takeover offer on Monday from Canadian seafood company Cooke Inc.

Maca Ltd (ASX: MLD)

Mining services company Maca is our final All Ords share to check out this Friday. Maca shares have actually had a decent day of gains today, rising 4.46% to $1.055 a share. That comes after the company hit $1.06 this morning, which is… you guessed it, Maca's new 52-week high.

This move comes after news yesterday that NRW Holdings Limited (ASX: NWH) had launched a takeover offer for Maca. Investors were offered $1.085 per share, but the company disclosed yesterday that it had told NRW 'thanks, but no thanks'. Investors seem encouraged today, all the same.

The post 3 ASX All Ordinaries shares cracking new highs on Friday appeared first on The Motley Fool Australia.

The month of June was especially horrifying, with the S&P/ASX Small Ordinaries Industrials (ASX: XSI) taking a whopping 10.4% fall.

However, small-cap investor Celeste Funds Management told its clients in a memo that three of its holdings actually increased in value last month.

And what's more, it is looking forward to further gains in the future:

All smiles as Australians get their teeth checked again

Dental centre operator Pacific Smiles Group Ltd (ASX: PSQ) saw its share price skyrocket 15.8% in June after the company indicated patients are returning and staff absence due to COVID-19 has started to slow.

"Pacific Smiles' same centre patient fees for May 2022 were up 2.8% on pcp [prior corresponding period] while total patient fees were up 7.4%."

But the best indicator was that in an environment of rising rates the business is already well funded.

"Pacific Smiles also extended its $40 million CBA loan facility for a further 3 years," read the memo.

"Pleasingly, the board confirmed that due to the headroom in the facility and the improving operating outlook, the company is adequately funded and has no need or desire to raise capital."

The team at Celeste isn't the only one bullish about Pacific Smiles shares.

According to CMC Markets, all three surveyed analysts recommend it as a buy.

A tech stock that's also defensive

Financial services software provider Iress Ltd (ASX: IRE) enjoyed a nice rise in its stock price last month despite making no price-sensitive announcements.

"Iress rose 9.9% over the month of June, outperforming the broader ASX 200 technology sector which fell 11.0%," stated Celeste analysts.

"We remain positively disposed to management's renewed focus to its capital base and delivery on FY25 targets."

For a tech company, Celeste reckons it boasts defensive characteristics in the face of possible recession or an economic downturn.

"Looking ahead, we believe the nature of Iress' recurring revenues, its cash flow generation and defensive qualities will provide ballast in a macro environment where earnings predictability has become increasingly difficult."

The wider analyst community is polarised on Iress.

Five out of the nine surveyed on CMC Markets are neutral, rating the stock as a hold. Three recommend it as a strong buy and one labels it a strong sell.

'A string of positive announcements'

Omni Bridgeway Ltd (ASX: OBL) operates funds that pay for litigation cases.

Celeste analysts attributed the 5.3% rise in the share price last month to "a string of positive announcements".

"Firstly, they announced the successful completion of a US law firm portfolio that resulted in US$23 million of income into Fund 4, with the same law firm entering into a second $30 million portfolio funding also from Fund 4," read the memo.

"Omni Bridgeway has also launched its new Fund 8 which is a EUR300 million insured, leveraged special purpose vehicle with materially higher expected returns to Omni Bridgeway than previous funds."

The company also sold a 20% stake, worth $7.5 million, in a Commonwealth Bank of Australia (ASX: CBA) shareholder class action.

"Omni Bridgeway expects to be an active participant in the secondary market due to the improved liquidity it provides," stated Celeste analysts.

"We see significant upside in OBL as the transition to legal fund manager continues."

The post 3 small-cap ASX shares to buy that are actually rising: fund appeared first on The Motley Fool Australia.

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

Althea Group Holdings Ltd (ASX: AGH)

The Althea share price is up 19% to 9.5 cents. This morning the cannabis company released a trading update which revealed $22 million in receipts from customers for FY 2022. This is an increase of 113% from the previous year. This followed a record final quarter with $6.5 million in receipts from customers.

AnteoTech Ltd (ASX: ADO)

The AnteoTech share price is up 5% to 8.4 cents. This follows the announcement of positive test results from "two respected and recognised global companies operating in the lithium-ion battery (LIB) value chain" for its drop-in cross-linker additive for LIB anodes, AnteoX. The additive has driven an uplift in electrochemical performance for lithium batteries.

New Hope Corporation Limited (ASX: NHC)

The New Hope share price is up almost 6% to $3.81. This is despite there being no news out of the coal miner today. Though, it is worth noting that coal prices had a positive finish to the week. This was possibly driven by China's stimulus plans.

Omni Bridgeway Ltd (ASX: OBL)

The Omni Bridgeway share price is up 3.5% to $3.86. This morning this litigation funder announced that it achieved annual commitments of $463 million for FY 2022. This is a record level and a 12% increase year-on-year. Management advised that the growth in commitments was achieved without any deterioration in the quality of underwriting or compression in margins.

The post Why Althea, AnteoTech, New Hope, and Omni Bridgeway shares are pushing higher appeared first on The Motley Fool Australia.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Flight Centre Travel Group Ltd (ASX: FLT) continues its long run as the most shorted ASX share after its short interest rose to 18%. Short sellers appear convinced that the market is being too optimistic on the travel market recovery.
• Betmakers Technology Group Ltd (ASX: BET) has seen its short interest ease slightly to 12.7%. Short sellers appear to have been targeting this betting technology company over valuation concerns.
• Nanosonics Ltd (ASX: NAN) has short interest of 11.7%, which is down slightly week on week. This infection prevention company's shares have come under pressure after it made a big change to its sales model in the United States.
• Webjet Limited (ASX: WEB) has short interest of 10.2%, which is down slightly week on week. As with Flight Centre, short sellers appear to believe the travel market recovery could take longer than expected.
• Polynovo Ltd (ASX: PNV) has seen its short interest remain flat at 9.5%. Short sellers aren't giving up on this medical device company even after a solid trading update last week.
• EML Payments Ltd (ASX: EML) has seen its short interest reduce slightly to 9.4%. Regulatory risks and valuation concerns appear to be behind this high level of short interest.
• Kogan.com Ltd (ASX: KGN) has seen its short interest rise to 9%. This online retailer has been performing very poorly in FY 2022 and only delivered modest first half growth thanks to an acquisition. Short sellers don't appear to believe things will improve quickly.
• Zip Co Ltd (ASX: Z1P) has seen its short interest pullback to 8.3%. Short sellers have been going after this buy now pay later provider amid rising competition, increased marketing costs, and significant cash burn.
• AMA Group Ltd (ASX: AMA) has 8.3% of its shares held short, which is flat week on week. This crash repair company reported a very disappointing half year loss of $46.3 million in February.
• Omni Bridgeway Ltd (ASX: OBL) has seen its short interest ease to 8%. Concerns that this litigation funder could be impacted by an overhaul of class action laws may be behind this short interest.

The post These are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Flight Centre Travel Group Ltd (ASX: FLT) remains the most shorted ASX share with its short interest rising to 17.7%. While the outlook for the travel market is improving, short sellers appear to believe investors are too optimistic.
• Betmakers Technology Group Ltd (ASX: BET) has seen its short interest rise slightly to 12.9%. Concerns over rising cash burn in the sports betting industry and tech valuations appear to be weighing on sentiment.
• Nanosonics Ltd (ASX: NAN) has short interest of 11.8%, which is down slightly week on week. Short sellers have been targeting this infection prevention company's shares after it made a big (and risky) change to its sales model in the United States. It remains unclear if the change was forced by its long term distributor in the market.
• Webjet Limited (ASX: WEB) has short interest of 10.3%, which is down slightly week on week. Concerns over the travel market recovery continue to weigh on sentiment.
• EML Payments Ltd (ASX: EML) has seen its short interest rise to 9.5%. Short sellers may have concerns over regulatory risks and its valuation as rates rise.
• Polynovo Ltd (ASX: PNV) has seen its short interest rise again to 9.5%. This medical device company's mixed performance and dwindling cash balance appear to have got investors worried.
• Zip Co Ltd (ASX: Z1P) has seen its short interest jump to 8.9%. Rising competition, increased marketing costs, and significant cash burn have been weighing on investor sentiment.
• Kogan.com Ltd (ASX: KGN) has seen its short interest ease to 8.8%. Short sellers may be targeting this online retailer due to its weakening sales and changes to Apple's privacy settings. The latter has made it harder to advertise effectively to consumers, which has led to increased marketing costs in the industry.
• AMA Group Ltd (ASX: AMA) has 8.3% of its shares held short, which is up slightly week on week. Short sellers have been going after this crash repair company since it reported a half year loss of $46.3 million.
• Omni Bridgeway Ltd (ASX: OBL) has seen its short interest ease to 8.2%. Short sellers could be targeting this litigation funder's shares due to the Government wanting to overhaul class action laws.

The post These are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Flight Centre Travel Group Ltd (ASX: FLT) remains the most shorted ASX share with short interest of 17.6%. Short sellers appear to believe the market is too optimistic with the travel market recovery.
• Betmakers Technology Group Ltd (ASX: BET) has seen its short interest remain flat at 12.8%. Sky high multiples and concerns over rising cash burn in the sports betting industry appear to be weighing on sentiment.
• Nanosonics Ltd (ASX: NAN) has short interest of 11.9%, which is flat week on week. This infection prevention company's shares have come under pressure after it announced a major and disruptive change to its sales model in the United States.
• Webjet Limited (ASX: WEB) has short interest of 10.2%, which is down slightly week on week. Volatile travel markets and rising oil prices continue to weigh on sentiment.
• Polynovo Ltd (ASX: PNV) has seen its short interest rise to 9.1%. This medical device company's underperformance appears to be attracting short sellers. Especially with its shares trading on high multiples.
• Kogan.com Ltd (ASX: KGN) has seen its short interest remain flat again at 9%. Short sellers appear concerned by its weakening sales, high marketing costs, and Amazon growing its Australian market share rapidly.
• EML Payments Ltd (ASX: EML) has seen its short interest remain steady at 8.7%. Short sellers may have concerns over the payments company's valuation as rates rise and financial models are reassessed.
• Omni Bridgeway Ltd (ASX: OBL) is back in the top ten with short interest of 8.3%. The litigation funder's shares could be in the crosshairs of short sellers due to the Government wanting to overhaul class action laws.
• AMA Group Ltd (ASX: AMA) has also returned to the top ten with 8.2% of its shares held short. Last month this crash repair company reported a loss of $46.3 million for the first half of FY 2022.
• Zip Co Ltd (ASX: Z1P) has returned to the top ten despite its short interest easing to 7.8%. This buy now pay later provider's shares have fallen heavily this year amid concerns over rising competition and increasing cash burn.

The post These are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

While a good number of shares rose with the market, some climbed more than most. Here's why these were the best performing ASX 200 shares last week:

Perenti Global Ltd (ASX: PRN)

The Perenti share price was the best performer on the ASX 200 last week with a gain of 12%. This could have been a delayed reaction to an announcement a week earlier. That announcement revealed that Perenti and Tshukudu Metals Botswana have finalised the contract for the provision of open pit mining services at the Sandfire Resources (ASX: SFR) Motheo Copper Project in Botswana. The finalised contract is valued at US$493 million (100% basis) over an initial term of seven years and three months.

Bega Cheese Ltd (ASX: BGA)

The Bega Cheese share price wasn't far behind with a gain of 10% over the three days. Investors were scrambling to buy the diversified food company's shares amid news that Andrew Forrest's Tattarang AgriFood Investments business has accumulated a 6.61% stake. Tattarang was buying shares between 10 November and 29 December.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price was on form again and charged 9.2% higher last week. This appears to have been driven by optimism that lithium prices will stay higher for longer. Before Christmas, analysts at Macquarie suggested lithium prices could remain at record levels for four years. In response, the broker retained its outperform rating and lifted its price target on the company's shares to $3.70. Incidentally, the Pilbara Minerals share price ended up being the best performer on the ASX 200 over the 12 months with a stunning 270% gain.

Omni Bridgeway Ltd (ASX: OBL)

The Omni Bridgeway share price was a solid performer and rose 6% during the period. This was despite there being no news out of the class action funder. However, it is worth noting that there has been a sharp reduction in the number of shares held by short sellers recently. This could mean that they have been buying back shares to close positions.

The post These were the best performing ASX 200 shares last week appeared first on The Motley Fool Australia.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Flight Centre Travel Group Ltd (ASX: FLT) continues to be the most shorted ASX share after its short interest rose again to 14.6%. Concerns that the Omicron variant of COVID-19 will derail the travel market recovery has been weighing on sentiment.
• Kogan.com Ltd (ASX: KGN) has seen its short interest ease to 12.1%. This week the ecommerce company's shares will leave the ASX 200 index following a rebalance. Kogan's abject form has led to its shares being crushed, dragging its market capitalisation to a level that saw it ejected from the index.
• Redbubble Ltd (ASX: RBL) has short interest of 11.4%, which is down week on week. Redbubble was also dumped out of the ASX 200 index at the quarterly rebalance. The ecommerce company has been underperforming in FY 2022.
• Webjet Limited (ASX: WEB) has short interest of 9.3%, which is down week on week. As with Flight Centre, short sellers appear concerned that Omicron could negatively impact this online travel agent's recovery.
• Zip Co Ltd (ASX: Z1P) has seen its short interest remain flat at 9%. Much to the delight of short sellers, Zip's shares were sold off last week amid reports that US regulators are looking into the BNPL market.
• Mesoblast limited (ASX: MSB) has short interest of 9%, which is down week on week. Short sellers will have been happy to see this biotech company's shares crash lower last week after Novartis terminated an agreement that could have been worth US$1.25 billion to Mesoblast.
• Omni Bridgeway Ltd (ASX: OBL) has short interest of 8.2%, which is down slightly week on week. This may be due to the Government wanting to overhaul class action laws, which could be detrimental to Omni Bridgeway's business model.
• BHP Group Ltd (ASX: BHP) has short interest of 8%, which is flat week on week. Short sellers may believe weaker iron ore prices could lead to the mining giant falling short of expectations in FY 2022.
• Monadelphous Group Limited (ASX: MND) is a new entry with short interest of 7.7%. This engineering company has been struggling this year amid the skilled worker shortage and wage inflation.
• Polynovo Ltd (ASX: PNV) has seen its short interest ease to 7.2%. Short sellers will have been disappointed to see this medical device company's shares shoot higher last week following a sales update.

The post These are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

Four ASX 200 shares that didn't let that hold them back are listed below. Here's why they were the best performers on the index last week:

Nanosonics Ltd (ASX: NAN)

The Nanosonics share price was the best performer on the ASX 200 last week with a gain of 11.7%. This was despite there being no news out of the infection prevention company. This latest gain means the Nanosonics share price is now up an impressive 22% since the start of December. One broker that still thinks its shares can go higher is Morgans. It currently has an add rating and $6.97 price target on them.

WiseTech Global Ltd (ASX: WTC)

The WiseTech share price wasn't far behind with a 10.3% gain. Once again, this was despite there being no news out of the logistics solutions company. Though, with the company's CEO continuing to sell down his holding last week, investors could be taking this as a positive signal. The theory being that if WiseTech was not at least performing in line with guidance, he wouldn't be able to sell shares. WiseTech is forecasting strong sales and operating earnings growth in FY 2022.

Charter Hall Group (ASX: CHC)

The Charter Hall share price was on form last week and charged 9.5% higher. Investors were buying this property company's shares following the release of a strong update on Monday. That update saw Charter Hall upgrade its guidance for FY 2022 a second time. This went down well with the team at Macquarie. In response, the broker retained its outperform rating and lifted its price target on the company's shares to $22.90.

Omni Bridgeway Ltd (ASX: OBL)

The Omni Bridgeway share price was a solid performer and rose 9.4% over the period. Last week the class action funder announced the completion of two investments, with expected income generation of approximately $18 million. In addition to this, Goldman Sachs recently reiterated its conviction buy rating and lofty $5.35 price target.

The post These were the best performing ASX 200 shares last week appeared first on The Motley Fool Australia.