In late trade, the S&P/ASX 200 Index (ASX: XJO) is out of form and tumbling lower. At the time of writing, the benchmark index is down 0.7% to 7,472.5 points.
Four ASX shares that are not letting that hold them back are listed below. Here’s why they are charging higher:
Altium Limited (ASX: ALU)
The Altium share price is up over 3% to $30.93. Earlier this week, Citi upgraded the electronic design software provider’s shares to a buy rating with a $35.40 price target. It believes the recent weakness in the Altium share price is a buying opportunity. Particularly given its guidance for revenue growth of 16% to 20% in FY 2022.
Catapult Group International Ltd (ASX: CAT)
The Catapult share price is up 1.5% to $1.91. This morning the sports analytics and wearables company announced a deal with the English Super League and Sky Sports. The deal will see Catapult provide real-time player statistics direct to viewers at home during live rugby league games.
Dicker Data Ltd (ASX: DDR)
The Dicker Data share price has risen 4.5% to $14.02. Investors continue to buy this IT distributor’s shares following a sharp pullback after some insider selling spooked the market. One of those buyers was CFO Mary Stojcevski. She picked up 2,900 shares via an on-market trade on Tuesday for a total consideration of approximately $37,400.
PolyNovo Ltd (ASX: PNV)
The PolyNovo share price is up over 3% to $2.18. This is despite there being no news out of the medical device company. However, with its shares down sharply this year, bargain hunters may be swooping in today. In addition to this, last week Macquarie retained its outperform rating and put a $2.70 price target on its shares. The broker remains positive on PolyNovo’s long term growth potential.
The post Why Altium, Catapult, Dicker Data, & PolyNovo shares are charging higher appeared first on The Motley Fool Australia.
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More reading
- Top brokers name 3 ASX shares to sell today
- Dicker Data (ASX:DDR) share price surges 5% as directors buy the dip
- The Polynovo (ASX:PNV) share price is up 5% on Thursday
- Which ASX 300 shares are the biggest winners and losers on Thursday?
- 3 fantastic ASX shares that could be buys
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. owns shares of and has recommended Altium, Catapult Group International Ltd, Dicker Data Limited, and POLYNOVO FPO. The Motley Fool Australia owns shares of and has recommended Altium, Catapult Group International Ltd, and Dicker Data 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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