The last 12 months have been very eventful for the S&P/ASX 200 Index (ASX: XJO).

After storming notably higher for 9 months, the last three months have wiped out all those gains and more.

Not all shares have been dragged lower during the pandemic, though. In fact, some have even managed to double in value during the period.

Here’s why these ASX shares are up more than 100% since this time last year:

BWX Ltd (ASX: BWX)

The BWX share price is up 136% over the last 12 months. The majority of these gains were made last year when the personal care products company reported a major improvement in its performance after a sustained period of weakness. The company behind the Sukin brand finished FY 2019 strongly and forecast solid growth in the current financial year. It is targeting full year revenue growth of 20% to 25% and earnings before interest, tax, depreciation, and amortisation (EBITDA) growth of 25% to 35%. Positively, this guidance remains in place despite the pandemic.

Codan Limited (ASX: CDA)

The Codan share price is up a solid 123% over the last 12 months. The catalyst for this strong gain has been a jump in the gold price which is driving strong demand for the electronic products manufacturer’s metal detectors. For the first half of FY 2020, Codan delivered revenue of $171 million and EBITDA of $54 million. This was a 33% and 42% increase, respectively on the prior corresponding period. With the gold price remaining at lofty levels, investors appear confident that its metal detectors will remain in demand for the foreseeable future.

Megaport Ltd (ASX: MP1)

The Megaport share price has jumped 133% since this time last year. Investors have been buying the elasticity connectivity and network services company’s shares after it continued its remarkable growth in FY 2020. In the first half of FY 2020 Megaport delivered a 70% increase in revenue to $25.9 million. Pleasingly, its strong form has continued in the second half despite the pandemic. In the third quarter its Monthly Recurring Revenue increased 19% over the three months to $5.4 million.

More reading

• Fund managers have been buying these ASX shares
• Why Aristocrat Leisure, Bigtincan, Clover, & Megaport shares are dropping lower
• These ASX tech shares could be destined for big things thanks to cloud computing
• These mid cap ASX shares could be long term market beaters
• How to turn $20,000 into $140,000 in just 10 years with ASX shares

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 MEGAPORT FPO. The Motley Fool Australia owns shares of and has recommended BWX Limited. The Motley Fool Australia has recommended MEGAPORT FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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The S&P/ASX 200 Index (ASX: XJO) had a phenomenal day today, reaching an 11-week high and closing 2.93% higher at 5,780 points.

As you would expect, most ASX shares – blue chips and small caps alike – have now risen substantially off the lows we saw in March. But there are some ASX shares still out there that I think are cheap right now, perhaps even absurdly so. Here are 2 for your perusal today.

2 cheap ASX shares worth a look today

Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)

Soul Patts is one such company. It was hit hard in the market crash we saw in March, falling from over $23 per share to under $17 per share. Today, the Soul Patts share price is sitting at $19.01 – around 12.4% off of its lows and well below the highs we saw back in February.

But here’s why I think Soul Patts is still cheap today. The company is dividend royalty for one – having delivered its investors a dividend pay rise every year since 2000. On current prices, this dividend is worth a 3.1% yield (or 4.46% grossed-up).

Secondly, this company has substantial stakes in other ASX businesses. Its shares of TPG Telecom Ltd (ASX: TPM) alone are worth approximately $1.93 billion. Its stake in Brickworks Limited (ASX: BKW) is worth another ~$930 million.

Given Soul Patts’ market capitalisation is just $4.55 billion, it’s my view that the market is under-pricing this conglomerate. Thus, it’s a cheap ASX share well worth considering today.

WAM Global Ltd (ASX: WGB)

WAM Global is another ASX share that I consider to be undervalued. In fact, I’m certain. How? Well, WAM Global is a Listed Investment Company (LIC), which means it invests in a portfolio of other shares on its investors’ behalf. The value of this portfolio is periodically disclosed to the ASX and, as of 30 April, stood at $2.25 a share.

Given the WGB share price is today sitting at $2.05, we can reasonably assume that this is an undervalued company.

Now, WAM Global is a relatively new company that only invests in stocks from international markets. It’s possible investors are taking into consideration the lack of performance track record and currency and sovereign risk and adjusting the share price accordingly. But Wilson Asset Management itself has a long history of delivering market-beating returns for its investors, and I’m confident that this cheap ASX share is an undervalued opportunity today.

More reading

• Why ASX 200 travel shares are soaring higher today
• ASX 200 rallies hard, no longer in bear territory
• Why this small-cap ASX pharmaceutical share rocketed 27% higher today
• Latest spending data could drive the ASX retail sector higher
• The latest ASX shares that brokers have just upgraded to “buy”

Motley Fool contributor Sebastian Bowen owns shares of WAMGLOBAL FPO and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns shares of and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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