Why Appen, Centuria Industrial, NRW, and Sayona Mining shares are pushing higher

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has given back the majority of its intraday gains but remains in positive territory. At the time of writing, the benchmark index is up 0.1% to 6,984 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are rising:

Appen Ltd (ASX: APX)

The Appen share price is up 5% to $4.37. This is despite there being no news out of the artificial intelligence data services company. However, Appen’s shares have been hammered this week following the release of a disappointing update. Some investors may believe they had been oversold and are buying them today.

Centuria Industrial REIT (ASX: CIP)

The Centuria Industrial share price is up 3% to $2.95. This follows the release of the industrial property company’s full year results. Centuria Industrial reported a 22% increase in funds from operations (FFO) to $111.7 million and FFO per share of 18.2 cents. The latter was in line with its upgraded guidance.

NRW Holdings Limited (ASX: NWH)

The NRW share price is up 10% to $2.11. This was driven by the release of an update on this engineering company’s full year results. NRW revealed that it expects to report revenue of $2.4 billion and operating earnings of $157 million in FY 2022. The latter is up from its previous guidance range of $150 million to $155 million.

Sayona Mining Ltd (ASX: SYA)

The Sayona Mining share price is up 5% to 20.5 cents. Investors have been buying this lithium developer’s shares after it revealed that it is accelerating the restart of its North American Lithium operation. Management advised that it is now targeting first production during the first quarter of 2023.

The post Why Appen, Centuria Industrial, NRW, and Sayona Mining shares are pushing higher appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Appen Ltd. 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 Scott Phillips.

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