Why Boss Energy, DroneShield, Jumbo, and Raiz shares are falling today

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down slightly to 7,828 points.

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

Boss Energy Ltd (ASX: BOE)

The Boss Energy share price is down 4.5% to $3.88. This appears to have been driven by a broker note out of Macquarie this morning. Although the broker remains positive on the uranium producer, it has cut its price target by almost 17% from $6.00 to $5.00. Elsewhere, another note out Morgan Stanley reveals that it has held firm with its equal weight rating and trimmed its price target to $4.55. This is due to production ramp up and cost concerns.

DroneShield Ltd (ASX: DRO)

The DroneShield share price is down 3.5% to $1.94. This may have been driven by profit taking from some investors after this counter drone technology company’s shares delivered incredible returns in recent months. In fact, even after today’s weakness, the DroneShield share price is up approximately 400% since the start of the year. This has been driven by impressive sales growth and its very positive outlook thanks to new contracts and industry tailwinds.

Jumbo Interactive Ltd (ASX: JIN)

The Jumbo Interactive share price is down 3% to $16.59. This morning, analysts at Citi initiated coverage on the online lottery ticket seller with a bearish view. According to the note, the broker has slapped a sell rating on the company’s shares with a price target of $15.00. This implies potential downside of approximately 10% from current levels. It believes the market is too optimistic on Jumbo’s earnings and suspects that it could fall short of expectations in FY 2025. Looking further out, it also highlights key renewals that create significant earnings risks in the coming years.

RAIZ Invest Ltd (ASX: RZI)

The RAIZ Invest share price is down over 2.5% to 36.5 cents. This morning, this micro-investing platform provider announced that it would be exiting the Malaysia market. Following the completion of a strategic review, it has agreed with its joint venture partner to close the business. Raiz CEO, Brendan Malone, said: “The decision to close the Malaysian Operations will enable Raiz to focus on strengthening and expanding its Australian business. With our continued product innovation and our marketing campaign, we are confident the Raiz Australian business will continue to grow and deliver a strong economic performance for shareholders.”

The post Why Boss Energy, DroneShield, Jumbo, and Raiz shares are falling today appeared first on The Motley Fool Australia.

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Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 DroneShield, Jumbo Interactive, and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Jumbo Interactive. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.