Category: Stock Market

Most weeks, Commonwealth Bank of Australia‘s (ASX: CBA) CommSec platform reveals the US shares that its Aussie customers were buying the previous week.

Since CommSec is one of the most used share brokers in Australia, this information gives us an interesting glimpse into what the average Aussie investor is looking at in the US markets.

So here are the top 10 US shares that investors on CommSec were buying and selling last week. This week’s data covers 26-30 April. 

Blue-chip tech shares dominate most traded US on the ASX

1. Tesla Inc (NASDAQ: TSLA) – representing 6% of total trades with a 77%/23% buy-to-sell ratio.
2. Apple Inc (NASDAQ: AAPL) – representing 2.7% of total trades with a 70%/30% buy-to-sell ratio.
3. Microsoft Corporation (NASDAQ: MSFT)– representing 2.3% of total trades with an 88%/12% buy-to-sell ratio.
4. GameStop Corp. (NYSE: GME) – representing 2.3% of total trades with a 79%/21% buy-to-sell ratio.
5. Amazon.com, Inc. (NASDAQ: AMZN) – representing 1.6% of total trades with a 68%/32% buy-to-sell ratio
6. Coinbase Global Inc (NASDAQ: COIN)
7. Nio Inc – ADR (NYSE: NIO)
8. Alphabet Inc Class C (NASDAQ: GOOG)
9. Microvision Inc (NASDAQ: MVIS)
10. AMC Entertainment Holdings Inc (NYSE: AMC)

What can we learn from these trades?

Well, after a rather homogenous couple of weeks recently, this weeks list looks a little different. What’s not different though is ASX investors love of electric vehicle and battery manufacturer, Tesla. Despite a few months of lacklustre stock performance, 77% of Tesla shares were still on the buy side last week. Tesla still maintains a dominant position in the overall proportion of trades at 6% as well.

ASX investors were also in the mood for blue-chip American shares as well. Smaller growth shares like Coinbase, Nio, and Palantir Technologies Inc (NYSE: PLTR) have made way for Apple, Microsoft, Amazon, and Google-parent Alphabet. This may have stemmed from many of these companies reporting their quarterly earnings last week.

Many of these were extremely well-received by investors too. Most of these companies were also overwhelmingly on the buy side for Aussie investors as well, with the strange exception of Amazon. Around a third of Amazon trades were ‘sells’ last week, despite the e-commerce giant hitting a new all-time high of US$3,554 on Friday. It seems as though there were more than a few people keen to get some profits off the table on that one.

Finally, it’s interesting to note that ASX investor interest in the newly-listed cryptocurrency broker Coinbase appears to be sliding. Last week, it was the second most popular US share with 4.4% of total trades. This week, it managed less than 1.6%.

More reading

• Why Robinhood is having a go at Warren Buffett
• A foldable iPhone is coming from Apple in 2023, analyst says
• Why Alphabet stock jumped 14% last month
• Why Amazon stock gained 12% in April
• Here’s why the NIB (ASX:NHF) share price is on the rise today

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Sebastian Bowen owns shares of Coinbase Global, Inc. and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Alphabet (C shares), Amazon, Apple, Microsoft, NIO Inc., and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Palantir Technologies Inc and recommends the following options: long January 2022 $1920 calls on Amazon, short March 2023 $130 calls on Apple, short January 2022 $1940 calls on Amazon, and long March 2023 $120 calls on Apple. The Motley Fool Australia has recommended Alphabet (C shares), Amazon, and Apple. 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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The Great Boulder Resources Ltd (ASX: GBR) share price was going gangbusters today before the company entered a trading halt around 30 minutes before market close.

Prior to the pause in trade, shares in the mineral exploration company were trading at 8.3 cents – up an astonishing 80.44%. At one point during intraday trade, shares had more than doubled to a 52-week record of 9.3 cents each.

At the same time, the All Ordinaries Index (ASX: XAO) is currently trading 0.39% higher today. 

The company’s explosive price growth comes after it announced a “large scale gold discovery” at one of its mines in Western Australia.

News of the trading halt “pending a further announcement” related to other drilling results then followed just seven hours later.

Let’s take a closer look at today’s news.

Company profile

Great Boulder Resources is a relatively new mineral exploration company with a primary focus on exploration, discovery and delineation of nickel-copper-cobalt and gold resources within the Eastern Goldfields Region of Western Australia. It holds interest in various projects such as Winchester, Mt Carlon, Tarmoola, Yamarna and Whiteheads.

Great Boulder shares strike gold

In a statement to the ASX, Great Boulder declared its results from initial drilling “at the Blue Poles discovery within the Whiteheads Gold Project” in WA.

According to the company, today’s results confirmed 450m of gold mineralisation strike at the mining project.

The company highlighted the following results:

• A 40m wide ore with 1.15g of gold per tonne.
• A 40m wide ore with 1.03g of gold per tonne.
• A 15m wide ore with 1.02g of gold per tonne.

The Great Boulder share price is not the only one heading higher today after positive gold announcements. Larger gold miner De Grey Mining Ltd (ASX: DEG) saw its shares increase by 11% at one point today following news of a gold strike.

Great Boulder says it will begin testing at The Gunners prospect after today’s results. The company highlighted that The Gunners site is very similar to the Blue Poles prospect where today’s results were found.

Gold commodity price

Gold is currently trading for around US$1,785 per troy ounce on the commodities market. It is down 0.36% today and 5.78% since the beginning of the year. It is, however, 3.38% higher over the last month.

The website Trading Economics attributes the precious metal’s recent rise to “a weaker dollar and lower treasury yields” as well as fears over rising COVID cases in parts of the world. Gold is seen as a safe investment by some investors and thus, would benefit from pessimistic economic indicators, according to the website.

Great Boulder share price snapshot

Over the last 12 months, the Great Boulder share price has increased 165.5%. Of course, most of this has occurred only today. Before today’s astronomical price rise, Great Boulder shares were trading lower when compared to the beginning of the year. At the end of the first trading day of 2021, shares were selling for 4.9 cents each.

Given its current valuation, Great Boulder has a market capitalisation of $21.1 million.

More reading

• Why De Grey, Infomedia, Northern Star, & SEEK shares are storming higher
• ASX 200 up 0.2%: SEEK hits record high, Flight Centre tumbles
• De Grey (ASX:DEG) share price rockets 11% on latest update
• ASX 200 up 0.5%: Coles Q3 update, Westpac settles class action, JB Hi-Fi loses its CEO
• Why the De Grey Mining (ASX:DEG) share price is surging 16% higher

Motley Fool contributor Marc Sidarous has no position in any of the stocks mentioned. 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 Bruce Jackson.

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Australia’s leading investment platform provider CommSec has released data on the most traded ASX shares on its platform from last week.

Here’s the data:

Zip Co Ltd (ASX: Z1P)

Once again, Zip’s shares were the most popular shares among CommSec investors last week. The buy now pay later provider’s shares accounted for 2.2% of trades on the platform, with 63% of the volume coming from buyers. Despite this, the Zip share price tumbled a disappointing 9.4% over the five days.

Kogan.com Ltd (ASX: KGN)

Kogan shares were popular with investors last week and were attributable to 1.8% of trades on the platform. Approximately 72% of these trades came from the buy side, helping to drive the Kogan share price almost 4% higher over the week. Investors were buying the ecommerce company’s shares after the ASX forced it to provide more clarity on its third quarter update.

A2 Milk Company Ltd (ASX: A2M)

This embattled infant formula company’s shares accounted for 1.5% of trades last week, with almost two thirds coming from buyers. Despite this, the a2 Milk share price hit a multi-year low during the week. A broker note suggesting that the company will fall short of its downgraded guidance in FY 2021 appeared to weigh on its shares.

Betashares Nasdaq 100 ETF (ASX: NDQ)

The Betashares Nasdaq 100 ETF was popular with investors yet again. Its units accounted for 1.5% of trades on the platform, with 82% of the volume attributable to buyers. Last week a number of tech giants released their latest updates, which went down well with the market.

Fortescue Metals Group Limited (ASX: FMG)

Fortescue makes the top five after accounting for 1.2% of trades on CommSec, with buyers making up 56% of the volume. Last week the iron ore giant released its third quarter update and revealed that it is on course to achieve its shipments guidance. It also revealed a sharp rise in the price it is commanding for its iron ore. This led to the Fortescue share price rising over 4% during the week.

More reading

• The ASX’s China problem is getting worse… and quickly
• The A2 Milk (ASX:A2M) share price is up 5% in 5 days. Can it go higher?
• Why the Kogan (ASX:KGN) share price was sold off in April
• These are the 10 most shorted shares on the ASX
• A2 Milk (ASX:A2M) share price continues to stink in April

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 BETANASDAQ ETF UNITS, Kogan.com ltd, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended A2 Milk. The Motley Fool Australia has recommended BETANASDAQ ETF UNITS and Kogan.com ltd. 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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The S&P/ASX 200 Index (ASX: XJO) is edging higher today, up 0.45% in afternoon trading. With a small gain posted by yesterday’s closing bell as well, the ASX 200 is now up 0.64% for the first 2 trading days of May.

If the ASX 200 can maintain its positive trajectory for the month, May will mark 8 straight months of gains for the index.

April saw the ASX 200 finish up 3.5% for the month. That was its best performance since November, when the index gained a stellar 10%.

Now in these days of monster overnight gains — and some rapid losses — from the likes of GameStop Corp. (NYSE: GME) and Bitcoin (CRYPTO: BTC), a 3.5% gain over the month may not grab many headlines.

But remember, we’re talking about the 200 largest listed companies in Australia here. And with the investment philosophy of ‘slow and steady wins the race’ in mind, I’m happy to take a 3.5% monthly gain from the Aussie blue chips populating the ASX 200.

Aussie economy picking up speed

As the Reserve Bank of Australia (RBA) will highlight today, the Australian economy has performed better than government forecasts. Inflation remains low (meaning interest rates will too), unemployment levels are lower than expected, and the budget deficit is looking to come in at some $31 billion less than expected back in December. Though it’s still a doozy!

Along with increased consumer confidence, the rollout of the COVID-19 vaccines and rising house prices, Australia’s financial sector looks to be in far stronger shape than most analysts were predicting as 2020 ground to an end.

And that, along with booming commodity prices, could send the ASX 200 on to another month of gains in May.

Soaring commodity prices help boost ASX 200

The new commodity super cycle you may have read about looks to be well and truly underway.

Prices for metals from iron ore to copper are sitting at all-time or multi-year highs, while crude oil and even coal have come roaring back from their post pandemic lows.

If this continues pace, as many analysts predict, it should continue to offer a welcome tailwind for commodity shares.

And with the materials sector making up some 19% of the ASX 200 (as at 21 December), May could well usher in an 8th consecutive month of gains for the index. 

More reading

• 3 things you need to know about the RBA’s interest rate decision today
• What’s happening with the Dexus (ASX:DXS) share price today?
• ASX 200 up 0.2%: SEEK hits record high, Flight Centre tumbles
• 5 things to watch on the ASX 200 on Tuesday
• ASX 200 flat, Westpac rises after HY21, Premier returns jobkeeper

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. 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 Bruce Jackson.

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The Reserve Bank of Australia (RBA) upgraded its growth forecast for our economy even as it held interest rates at record lows today.

The Australia dollar dipped slightly on the news to US77.45 cents while the S&P/ASX 200 Index (Index:^AXJO) held on to its 0.4% gain.

While the decision to keep rates at 0.1% wouldn’t surprise anyone, there are three key takeaways for ASX investors.

RBA upgrades GDP forecast

The first is the upgrade to the Australian gross domestic product (GDP). The central bank upgraded its forecast again and is predicting growth of 4.75% this calendar year. That’s a sizable step up from the 3.5% that it was expecting before.

The RBA may have kept its 2022 GDP forecast unchanged at 3.5%, but remember that comes off the upgraded base, which is now expected to be around $20 billion bigger.

“The economic recovery in Australia has been stronger than expected and is forecast to continue,” said RBA governor Philip Lowe.

“This recovery is especially evident in the strong growth in employment, with the unemployment rate falling further to 5.6 per cent in March and the number of people with a job now exceeding the pre-pandemic level.”

Inflation? What inflation?

The second notable point is how unfazed the RBA is when it comes to the risk of inflation. While global bond markets are starting to price in high inflation due to the amount of monetary stimulus in the system, the RBA noted price pressures remain subdued.

“A pick-up in inflation and wages growth is expected, but it is likely to be only gradual and modest,” said Dr Lowe.

“In the central scenario, inflation in underlying terms is expected to be 1½ per cent in 2021 and 2 per cent in mid 2023.”

In other words, inflation is tipped to stay comfortably below the RBA’s target band. This gives our central bank flexibility in boosting support wherever and whenever it deems necessary.

Cheap bank funding coming to an end

The third takeaway is the expiry of the RBA’s term facility on 30 June this year. The RBA is not considering extending this facility, which allows ASX banks to borrow from the central bank at a 0.1% rate for three years.

I believe the facility enabled banks to offer record low three-year fixed mortgages at around 2%. The banks pick up and easy circa 200 basis point net interest margin for little to no risk.

There are two possible reasons behind the RBA’s move to close down the term facility.

Keeping a watchful eye on the housing market

Firstly, the central bank is taking note of the hot property market.

The RBA is monitoring the trends in housing borrowing and highlighted the importance of maintaining lending standards.

The other is the fact that only half of the $200 billion term loan facility has been used this far. Banks don’t seem keen on borrowing much to lend.

That may be a good thing as it could mean they are also worried about maintaining borrowing standards.

More reading

• What’s happening with the Dexus (ASX:DXS) share price today?
• ASX 200 up 0.2%: SEEK hits record high, Flight Centre tumbles
• 5 things to watch on the ASX 200 on Tuesday
• ASX 200 flat, Westpac rises after HY21, Premier returns jobkeeper
• 2 of the best ASX 200 blue chip shares to buy today

Motley Fool contributor Brendon Lau has no position in any of the stocks mentioned. 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 Bruce Jackson.

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The MGC Pharmaceuticals Ltd (ASX: MXC) share price is having a great day as the company shared news of a $1 million order.

At its intraday high, the MGC Pharmaceuticals share price was 6.7% higher than yesterday’s close, but it’s since retreated.

The company’s share price is trading at 6.1 cents, a 3.39% gain, at the time of writing.

Let’s take a closer look at the latest news from the phytocannabinoid- and plant-focused pharmaceutical company.

Million-dollar baby

MGC Pharmaceuticals’ newest purchase order comes from a European producer and distributor, Swiss PharmaCan AG.

Swiss PharmaCan has ordered around €640,000 ($995,000) worth of the company’s ArtemiC Rescue, a food supplement that contains 4 plant-based ingredients ­– artemisinin, curcumin, boswellia serrata, and vitamin C.

This is its second order for ArtemiC Rescue after the first helped boost MGC Pharmaceuticals’ quarter-on-quarter growth to a record high.

MGC Pharmaceutical says it has the ability to produce commercial-scale batches of ArtemiC Rescue at its Slovenian facility. 

The company has an agreement with Swiss PharmaCan, under which the European company must order at least 40,000 united of ArtemiC Rescue per quarter. The order announced today has seen it meet its quota for the current quarter.

Commentary from management

MGC Pharmaceuticals’ co-founder and managing director Roby Zomer commented on the purchase order, saying:

Receiving a second order on such a large scale from Swiss PharmaCan demonstrates the increasing demand for our product ArtemiC Rescue, and its associated benefits.

Our team in Slovenia has been working tirelessly to ramp up production to ensure rapid deployment of this order, and any subsequent orders that may be received.

MGC Pharmaceuticals share price snapshot

The MGC Pharmaceuticals share price is going gangbusters this year, up 205% year to date with today’s gains included. It’s also up 103% over the last 12 months.

The company has a market capitalisation of around $134 million, with approximately 2.2 billion shares outstanding.

More reading

• Why the MGC Pharma (ASX:MXC) share price has rocketed 9%
• Why the MGC Pharmaceuticals (ASX:MXC) share price is up 5% today
• Why the MGC Pharma (ASX:MXC) share price is zooming 13% higher today

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

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 Bruce Jackson.

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The Eagle Mountain Mining Ltd (ASX: EM2) share price is dipping today after the company posted an investor presentation. At the time of writing, Eagle Mountain shares are down 3.86% to $1.12 per share.

Eagle Mountain is engaged in the exploration and evaluation of copper, gold, silver, and porphyry copper deposits. Its project portfolios include Silver Mountain and Oracle Ridge across Australia and the United States.

Presentation highlights

The Eagle Mountain share price is failing to respond despite the company honing in on two of its most recent updates. It has moved to 100% ownership of its Oracle Ridge mine after strong recent results in the region sent the Eagle Mountain share price rocketing 12%. The company also revealed its plans to increase its mining operation drilling rates three-fold over the coming quarter.

Eagle Mountain is currently working along four kilometres of mapped and sampled mineralisation in its Leatherwood contact, as part of the Oracle Ridge mine. The company was also bullish about its prospects for the next quarter, saying it has “good credentials to potentially be a low emission mining operation”.

It has an existing underground mine with 18 kilometres of development and extensive local infrastructure within a tier-one mining jurisdiction of Arizona in the US. The release noted that Arizona was recently named the second-most lucrative mining region in the world in investment attractiveness.

The company also reported strong drilling results since September 2020. It’s raised $11 million since February 2021 to fund its drilling operations during 2021, with the company expecting to leverage record high copper prices over the coming months. The copper price is now more than double what it was in January 2020.

Eagle Mountain share price snapshot

Including today, the Eagle Mountain share price has now been tumbling for three days. These losses have, however, been partially mitigated by the company’s huge gains recently. It’s still up almost 11% over the past week and around 65% over the past month.

More reading

• Why is the Eagle Mountain (ASX:EM2) share price flying 13% today?
• Why the Eagle Mountain (ASX:EM2) share price is surging 19% higher again today

Motley Fool contributor Lucas Radbourne-Pugh has no position in any of the stocks mentioned. 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 Bruce Jackson.

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The CSL Limited (ASX: CSL) share price has been wobbling in recent times following the company’s ongoing plasma collection issues. Investors hit the sell button in February and March after digesting CSL’s half-year results announcement and experiencing a broader market slump thereafter.

While the global biotech’s shares have stabilised for now, the company is still facing headwinds.

At the time of writing, CSL shares are swapping hands for $271.38, up 0.16%.

What’s going on with CSL?

CSL has been in the spotlight receiving heavy media attention about its plasma stockpile, and AstraZeneca plc (NASDAQ: AZN) COVID-19 vaccine update.

First and foremost, CSL’s plasma collections have taken a hit over the past 14 months, adversely impacted by the pandemic. Fewer people are donating blood to the company’s collection centres as countries go into lockdown following new COVID-19 waves.

Plasma, derived from blood, is a key ingredient in the production of life-saving therapies. CSL’s most recent update in March advised that December 2020 plasma volumes stood at 80% of December 2019 levels.

The company has been busy targeting marketing initiatives to increase collections, along with opening new centres.

Only time will tell if the biotech leader can build back up its plasma stockpile in the short-term.

Moving on, CSL provided an update last Saturday on its COVID-19 vaccine manufacturing numbers. It said that over 1 million doses are being produced each week and is scheduled for release in mid-May. This is provided that the required quality checks are approved.

CSL noted that there is about a 4-week quality control and approval process in which each batch is stringently tested. This is undertaken by AstraZeneca, the Australian Therapeutic Goods Administration (TGA) and CSL.

To date, over 3.7 million doses of locally made AstraZeneca COVID-19 vaccines have been released. However, current COVID-19 vaccinations administered across the country stands at around 2.3 million. The remaining 1.4 million vials are either sitting in cold storage or facing transportation delays to clinics and pharmacies.

CSL share price summary

Over the course of the past 12 months, CSL shares have taken investors on a rollercoaster ride, down 9%. The company’s shares are currently sitting just below the mid-range of $242.00 to $320.42 achieved over the year’s timeframe.

On valuation grounds, CSL is the third largest company on the ASX with a market capitalisation of roughly $123 billion.

More reading

• Pssst, I’m a value investor who makes money from growth shares: fundie
• ASX 200 Weekly Wrap: Shares have average week but a great month
• Here’s how the CSL (ASX:CSL) share price performed in April
• Top ASX shares to buy in May 2021
• How to find the best ASX shares on the share market

Aaron Teboneras owns shares of CSL Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL 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 Bruce Jackson.

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The Transurban Group (ASX: TCL) share price has fallen out of favour in recent months. This has primarily been due to a lack of capital gains and dividends. Consequently, the company has been overshadowed by ASX 200 shares such as BHP Group Ltd (ASX: BHP).

However, the company’s investor presentation this week revealed positive traffic trends and a number of near-term growth initiatives.

Could this put the Transurban share price back in the spotlight as a top dividend stock? 

Investor briefing 

Transurban’s investor presentation notes that emerging indicators in Australian markets suggest that working from home is not going to fundamentally alter long-term traffic growth.

Its findings observe movements in central business districts continuing to recover and peak hour traffic patterns looking similar to pre-COVID. The company also notes that the preference for private vehicle travel over public transport may be enduring. It is believed that this is primarily due to concerns about personal safety. The recent growth in new and used car sales and car ownership supports the view that public transport diversion is likely to continue. 

Transurban highlighted a number of opportunities in the pipeline in Australia and North America. In the next five years, the company is exploring the acquisition of the NSW Government’s 49% stake in WestConnex, M7 staged widening and an M7/M12 interchange. Near-term growth opportunities also exist in North America where a number of express lane extensions and acquisition opportunities are available. 

Broker weighs in on the Transurban share price

Macquarie found the investor briefing to be more strategic rather than financial in nature. The broker observes the significant number of major projects and pipeline. Furthermore, the agenda is likely to expand as governments deal with congestion. 

Macquarie points to growing possibilities. These include the Beach Link in NSW, North Eastern in Victoria, and the 2032 Olympic bid in Brisbane. 

Despite the growth opportunities and outperform rating, the broker’s target price of $14.51 represents an upside of just ~3.5%. Macquarie is forecasting a full year FY21 dividend of 40.20 cents, which represents a yield of 2.87% at today’s prices. 

More reading

• The ASX’s China problem is getting worse… and quickly
• 2 quality ASX dividend shares that will help you beat low interest rates
• ASX 200 up 0.25%: Westpac result impresses, PointsBet jumps
• Deterra (ASX:DRR) share price outperforms on royalty update
• ASX miners set for tough start even as commodity premiums hit a 14-year high

Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia owns shares of Transurban Group. 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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On Monday I looked at three ASX shares that brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with them right now. Three that have just been given sell ratings are listed below. Here’s why these brokers are bearish on these ASX shares:

Bubs Australia Ltd (ASX: BUB)

According to a note out of Citi, its analysts have retained their sell rating and 35 cents price target on this infant formula company. This follows the release of a mixed third quarter update last week. The broker continues to believe that Bubs is in a difficult spot due to challenging market conditions in China which is seeing domestic players outperforming. Especially given how small its brand is. Furthermore, it feels that China’s declining birth rate means the market could contract in the near future. The Bubs share price is trading at 40 cents today.

Paradigm Biopharmaceuticals Ltd (ASX: PAR)

A note out of Morgans reveals that its analysts have retained their reduce rating and $1.69 price target on this biopharmaceutical company’s shares. According to the note, the broker wasn’t surprised to see the US FDA put Paradigm’s investigational new drug (IND) application on hold. Morgans believes that a decision could be months away, which will lead to further cash burn and uncertainty. The broker has previously stated that it sees risk to the viability of the company’s osteoarthritis drug as a commercial asset. The Paradigm share price is fetching $2.33 today.

Premier Investments Limited (ASX: PMV)

Analysts at Goldman Sachs have retained their sell rating and $20.20 price target on this retail conglomerate’s shares. This follows an update on its JobKeeper payment and guidance for FY 2021. According to the note, Premier Investments’ earnings before interest and tax guidance of $318 million is largely in line with its estimates. However, this doesn’t change its view on the company. With Goldman expecting its earnings to fall materially in FY 2022 and then remain flat into FY 2023, it feels its shares are expensive at the current level. The Premier Investments share price is trading at $26.12 this afternoon.

More reading

• Brokers point to these ASX 200 shares to beat the market in May
• The ASX’s China problem is getting worse… and quickly
• ASX 200 flat, Westpac rises after HY21, Premier returns jobkeeper
• Why Bubs, IDP Education, ResMed, & Tyro shares are dropping today
• Premier Investments (ASX:PMV) share price lower after JobKeeper update

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 BUBS AUST FPO. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited. The Motley Fool Australia has recommended BUBS AUST FPO. 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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