Day: September 6, 2021

5 ASX shares under $10 that have more than doubled in the past year

man pointing up at a rising red line which represents a growing share price

It is no secret that ASX shares have performed remarkably well in the past year. The S&P/ASX 200 Index (ASX: XJO) has surged 26% as companies bounced back from economic disruptions.

Although, there are ASX shares that have performed well above the Aussie benchmark index. The five ASX stocks we will be looking at today all trade for less than $10 per share and have more than doubled in value over the course of the last 12 months – let’s take a look!

5 ASX shares that have hit a homerun

Pilbara Minerals Ltd (ASX: PLS)

Emerging lithium producer Pilbara Minerals has experienced a meteoric surge in its share price over the past year. The widespread exuberance towards the lithium sector pushed this ASX share 562% higher during the period, now residing at $2.14 per share.

The $6.3 billion mining company has taken full advantage of a rocketing lithium price. In its full-year results for FY2021, Pilbara Minerals notched up a 142% increase in shipments to 281,440 dry metric tonnes. In conjunction with the higher commodity price, this lifted the company’s revenue by 109% to $175.8 million for the financial year.

Calix Ltd (ASX: CXL)

The next ASX share making the cut is highly topical given the ongoing concerns around climate change. In short, Calix focuses on developing technologies to “repair, preserve, and prevent future harm to [the planet]”. During the past year, the Calix share price has delivered a remarkable 315%. Today, the company’s shares command a $4.20 price tag.

It has been a stellar 12-month period for the company, receiving grants, entering multiple memorandums of understanding (MOU), and delivering revenue growth in FY21. Due to its ESG theme, Calix has caught the eye of Shaw and Partners advisor Adam Dawes. In speaking with The Motley Fool earlier in the month, Dawes shared the broker’s positive sentiment towards the company.

Dubber Corp Ltd (ASX: DUB)

Cloud-based call recording software company Dubber and its shareholders have enjoyed a plentiful period over the past year. As working from home continues to be popular, demand for call recording software jumped. In terms of revenue, Dubber achieved $23.3 million in FY21, an increase of 97% year on year. Likewise, the company’s share price has rocketed 244% over the past year.

This ASX share has been quick to capitalise on its success. In July, Dubber completed a $110 million capital raise to accelerate its growth objectives. One of these ambitious objectives includes increasing annual recurring revenue from $39 million to $100 million in the medium term.

Uniti Group Ltd (ASX: UWL)

Despite playing in a sector filled with giants, Uniti Group hasn’t shown any fear for going toe-to-toe. The provider of internet and telecommunication products and services delivered immense value for shareholders over the past year. For starters, the share price is up 188% — putting a smile on the faces of Uniti investors.

The rapidly growing ASX share is a product of execution on a bold acquisition strategy. In FY21 alone, Uniti completed the acquisitions of HabourISP, OptiComm, and Velocity. As a result, the company’s revenue exploded 175% to $159.9 million during the financial year. At the end of the period, Uniti’s contracted order book had grown to 250,460 construction premises.

Life360 Inc (ASX: 360)

Last but not least, Life360 has been helping families and investors have a more enjoyable time this past year. The family safety app maker eclipsed 32.2 million global monthly active users in FY21, an increase of 28% year on year. At the same time, this ASX share has surged by 134% in value over the past 12-months.

Investors drove the company’s share price higher as its ‘Paying Circles’ members continued to increase throughout the financial year. By the end of FY21, Life360 toted 1 million paying memberships, representing a 19% increase compared to the prior year.

The post 5 ASX shares under $10 that have more than doubled in the past year appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

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Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Dubber Corporation and Life360, Inc. The Motley Fool Australia owns shares of and has recommended Dubber Corporation. The Motley Fool Australia has recommended Uniti Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Why the Rhythm Biosciences (ASX:RHY) share price is flying higher today

Group of medical professionals high five

The Rhythm Biosciences Ltd (ASX: RHY) share price is charging higher in afternoon trade, up 7% to $1.21 per share.

Below we take a look at what’s driving investor interest in the ASX medical diagnostics technology company.

What did Rhythm announce?

The Rhythm Biosciences share price is gaining after the company reported it had successfully completed its non-renounceable pro-rata rights issue to raise $4.3 million, before costs.

While Rhythm set out to raise $4.3 million, it said actual subscriptions – including “entitlements, additional shares applied for, and letter of commitments” – totalled $12.05 million.

With actual subscriptions some 280% more than Rhythm was seeking, it said its share registry will return funds to unsuccessful applicants “as soon as practicable”.

As interest ran stronger than anticipated, the company said it will now offer a small “heavily scaled back placement”. This will select sophisticated and other exempt investors who had provided commitment letters for the previous offer.

Up to 1.5 million shares will be issued at a price of 85 cents per share to raise $1.28 million before costs. Rhythm said participants will also be offered 2 varieties of attaching, unlisted options.

John Hancock, who cornerstoned the placement, said: “The innovative ColoSTAT product, developed from research by the CSIRO and Rhythm, has the potential to be a global game-changer in the early mass-market screening for colorectal cancer.”

Commenting on the offer, Rhythm’s CEO, Glenn Gilbert said:

I’m pleased that the offer was strongly supported by existing shareholders, alongside the board and myself, further demonstrating our alignment. Coupled with an R&D tax incentive refund, expected shortly, the company is well funded to execute on our development and commercialisation plans outlined in our FY22 strategic plan.

Rhythm Biosciences share price snapshot

The Rhythm Biosciences share price has gained an eye-popping 991% over the past 12 months. Over that same time, the All Ordinaries Index (ASX: XAO) is up 27%.

Over the past month, Rhythm’s shares are up 24%.

The post Why the Rhythm Biosciences (ASX:RHY) share price is flying higher today appeared first on The Motley Fool Australia.

Should you invest $1,000 in Rhythm Biosciences right now?

Before you consider Rhythm Biosciences, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Rhythm Biosciences wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Woolworths (ASX:WOW) share price lower after selling stake in meal box company

A man with a bag of groceries tries to catch an apple that has fallen out.

The Woolworths Limited (ASX: WOW) share price is trading slightly lower in today’s session.

Shares in the supermarket giant have stalled after the company announced a change to its holdings.

Let’s take a look at what Woolworths announced.

Woolworths sells $54 million stake in Marley Spoon

Earlier today, Woolworths announced that the company has ceased being a substantial holder in Marley Spoon AG (ASX: MMM).

As reported by my Foolish colleague, the retail conglomerate has sold its stake in the food box delivery company.

Woolworths announced that it had sold 28,026,000 Chess Depository Interests (CDIs) in Marley Spoon via an underwritten block trade.

The trade, worth approximately $54 million, represented a 9.87% stake in Marley Spoon.

Woolworths sold its interest at $1.91 per CDI, equating to a 6% discount on Marley Spoon’s previous closing price.

In 2019 and 2021, Woolworths invested nearly $30 million in the food box delivery company via its subsidiary W23 Investments Pty Ltd.

More on Woolworths

Apart from the Marley Spoon announcement, the Woolworths share price has been in the spotlight recently.

In May, the supermarket giant made headlines following the demerger of its Endeavour business.

The demerger saw Endeavour Group Ltd (ASX: EDV) become a separately listed entity that owns retail and drinks businesses.

Late last month, shares in Woolworths received a boost after reporting strong full-year results for FY21.

Highlights from the company’s report included;

  • Group sales rose 5.7% to $67,278 million
  • eCommerce sales surged 58.1% to $5,602 million
  • Group earnings before interest and tax (EBIT) increased 13.7% to $3,663 million
  • Group net profit after tax up 22.9% to $1,972 million
  • Final dividend of 55 cents per share

Most recently, Woolworths released its first annual sustainability report.

Since launching its Sustainability Plan 2025 in 2020, Woolworths announced its carbon emissions are 27% less than its 2015 baseline.

For FY21, the company also highlighted it has reduced its plastic usage by more than 2,500 tonnes.

Snapshot of the Woolworths share price

Shares in the company have had a stellar year thus far, hitting record highs in late August.

Since the start of the year, the Woolworths share price has surged more than 16%.

At the time of writing, shares in the supermarket giant are trading slightly lower for the year at around $40.42.

The post Woolworths (ASX:WOW) share price lower after selling stake in meal box company appeared first on The Motley Fool Australia.

Should you invest $1,000 in Woolworths right now?

Before you consider Woolworths, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Woolworths wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

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Motley Fool contributor Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Marley Spoon AG. The Motley Fool Australia owns shares of and has recommended Marley Spoon AG. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Why the IGO (ASX:IGO) share price is slipping today

Female worker in hard hat puts thumb down while on the phone

The IGO Ltd (ASX: IGO) share price has dipped into the red in afternoon trade on Tuesday.

Shares in the minerals mining company are now exchanging hands at $9.72 apiece, a slight 0.3% dip out of the money.

For context, the S&P/ASX 200 index (ASX: XJO) is also down 0.3% on the day.

Let’s investigate further.

What’s up with the IGO share price today?

The IGO share price has climbed over 10% since the company announced its Kwinana lithium hydroxide refinery produced its first chemical product on 23 August.

It might come as a surprise therefore why IGO shares are on the way down today in the absence of any market sensitive information.

However, one important consideration as to why the company’s share price has taken a dip today, is that IGO shares are going ‘ex-dividend’ today.

The ex-dividend date serves as an important date to remember as investors who buy a company’s shares after the stipulated time will not be eligible to receive the subsequent dividend payment into their bank accounts.

What’s more, is that in most cases, a company’s share price will drop by roughly the same amount as its upcoming dividend payment on the ex-dividend date.

This is because the ex-dividend date is the day on which a company’s shares theoretically begin to trade without the value of its dividend payment baked into the share price.

Logically, we can expect the IGO share price to dip by roughly the same amount as its dividend on this basis.

For instance, the company declared a final and FY21 total dividend of 10 cents per share in its FY21 earnings report.

Since the close on Monday, IGO shares have trended down, and have given up roughly 8 cents per share to the time of writing, in line with the total dividend the company declared.

Therefore, a dip in the IGO share price was to be expected, given the company went ex-dividend from today.

IGO share price snapshot

The IGO share price has gained 52% this year to date, extending the gain over the past 12 months to 120%. Despite these gains, IGO shares have slipped into the red over the last month.

Regardless, both of the longer term results have outpaced the broad index’s return of around 25% over the past year.

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

Should you invest $1,000 in IGO right now?

Before you consider IGO , you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and IGO wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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