The S&P/ASX All Ordinaries Index (ASX: XAO) is in the red today, down 0.64% to 7,738 points at the time of writing.
The ASX All Ords may be wobbling after the release of official notes from the US Federal Reserve’s latest meeting. The notes indicated that bigger interest rate hikes than usual — possibly 0.5% at a time — might be required to curb inflation once the Ukraine-Russia conflict eases, according to reporting by abc.net.au.
Among the drags on the All Ords index today are these three ASX small-cap shares, which have all touched new 52-week low prices.
Accent Group Ltd (ASX: AX1)
The first ASX All Ords faller we’re looking at today is fashion footwear retailer Accent. It’s trading down 5.35% to $1.56 at the time of writing — its lowest level in a year. This is a long way down from the 52-week high of $3.08 reached in April 2021.
ASX investors haven’t heard any news from Accent since 22 February when it released its half-year results. The company said it was “severely impacted” by COVID-19 disruptions with a 72% fall in net profit after tax (NPAT). As my Fool colleague Tristan reported yesterday, UBS rates Accent a buy with a share price target of $2.50.
Cettire Ltd (ASX: CTT)
Next is online luxury goods retailer Cettire, which is currently down 7.42% at $1.06 — a new 52-week low. This ASX All Ords share is now down 78% on its 52-week high of $4.81 reached in mid-November. That was around the time the company announced a direct brand partnership with Staff International and reported strong trading momentum.
Audinate Group Ltd (ASX: AD8)
Lastly, we look at Audinate, which crashed to a new 52-week low of $6.13 in earlier trading. That’s a 4% decline on yesterday’s closing price of $6.39. It has since rebounded to its current price of $6.22 at the time of writing.
The last lot of price-sensitive news from Audinate came on 14 February when it released its 1H22 results. The audio-visual networking provider delivered strong revenue growth and said it was navigating supply chain issues well. Broker James Gerrish of Shaw and Partners responded the following day by slapping a $12 price target on this ASX All Ords small-cap. He’s still keen on the stock today, as my Fool colleague Tony reported.
ASX All Ords recap
The All Ordinaries index is down 2.4% year to date but up 7.8% over the past 12 months.
The post Opportunity knocking? 3 ASX All Ords shares trading at 52-week lows today appeared first on The Motley Fool Australia.
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Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended AUDINATEGL FPO and Cettire Limited. The Motley Fool Australia owns and has recommended AUDINATEGL FPO. The Motley Fool Australia has recommended Accent Group and Cettire 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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