Category: Stock Market

Ansarada Group Ltd (ASX: AND) shares are rocketing today after the company released its latest quarterly report and investor update. At the time of writing, the Ansarada share price is trading 13.64% higher at $1.25. 

Let’s take a look at what’s boosting the legal and financial software developer’s shares.

Continued growth

Ansarada posted 29% year-on-year (YoY) growth in the third quarter of FY21 (Q3), increasing its total customer numbers to 3,210. This represents an increase of 18% YoY and 6% quarter on quarter (QoQ). The company is currently experiencing a record rate of increase in active customers, with 15 years of continued customer growth.

E-commerce platforms are driving Ansarada’s customer growth, with the rapid expansion of the company in this market increasing in each quarter over the past few years. The significant growth in its e-commerce channel contributed 26% of the total increase in active customers.

An increasing volume of signups is also occurring globally. According to the company, this highlights the scalability and operating leverage of its business.

Ansarada achieved $2.1 million in positive cash flow from operations for the quarter and, as at the end of March, has a $22 million total cash balance with zero debt. The company is launching its newest platform for businesses, Workflow, in early Q4.

The company says Workflow enables customers to enhance their project management by simplifying deal-making processes and legal requirements. According to Ansarada, Workflow is “highly differentiating” against competitor products and will assist the company to capture increased market share and subscription revenue growth.

Differentiation is key since Ansarada operates in the highly competitive software industry. It develops and provides cloud-based software for legal and finance organisations.

Ansarada operates a software-as-a-service (SaaS) model and targets clients that undertake complex transactions. These include legal and accounting firms, corporate and financial advisers, financial institutions and listed or multinational companies.

The company’s software encompasses workflow management, collaboration, secure file sharing, project management, and escrow services. Geographically, the majority of Ansarada’s business is carried out in the Australian market.

Ansarada share price snapshot

Including today’s boost, the Ansarada share price has gained a whopping 635% over the past 12 months. However, the company’s shares have fallen by around 8% year to date. Ansarada has a current market capitalisation of around $89 million.

More reading

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• Here’s why the Magnum (ASX:MGU) share price is rising 6% today
• Is the BHP Group (ASX:BHP) share price worth a buy today?
• Why Bingo, Life360, Tabcorp, & Vulcan shares are storming higher
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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 Magnum Mining and Exploration Ltd (ASX: MGU) share price is on the move in mid-afternoon trade. This comes after the company announced progress on becoming a ‘green’ steel producer.

At the time of writing, the miner’s shares are trading at 17 cents apiece, up 6.25%.

What did Magnum announce?

Investors seem pleased with the company’s latest update, driving Magnum shares higher.

In its announcement, Magnum advised is has shipped Buena Vista iron ore samples to a number of international engineering firms. Specialising in hot briquetted iron (HBI) and pig iron manufacturing processes, the engineering firms will design a manufacturing plant.

Magnum also states that the facility will adopt mature and industrially proven technologies. Locally available biomass and green hydrogen supplied from its partner, AVF Energy, will also be used in the construction process. The company is aiming to produce environmentally-friendly HBI and high purity iron (HPI) products. Magnum will supply this to the United States and international steel markets. If successful, this will give the company a first-mover advantage against its competitors.

Furthermore, Magnum will finalise the plant design before the end of May 2021.

In addition, Magnum noted that it’s currently in discussions for plant assembly services and operational assistance with several international firms. Further updates will be provided once the preliminary process design of the plant is available.

About the Buena Vista mine

Located in Nevada, the United States, the Buena Vista mine is positioned to become a green steel producer. The term ‘green’ refers to producing materials from waste products. The mine is also considered a significant magnetite mineral resource that has had $34 million invested in advancing the project.

Additionally, the mine has close access to rail, water, port, and power facilities.

Share price summary

The Magnum share price has accelerated over 325% over the past year, with most of those gains coming year-to-date. The company’s shares reached an all-time high of 21 cents last week, before treading lower due to profit-taking.

Based on valuation grounds, Magnum commands a market capitalisation of around $72 million.

More reading

• Why the Magnum (ASX:MGU) share price soared 16% today

Motley Fool contributor Aaron Teboneras 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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Is the BHP Group Ltd (ASX: BHP) share price a buy today? Good question!

BHP has been one of the best S&P/ASX 200 Index (ASX: XJO) blue chip shares to own in recent years. It even fared relatively well during the coronavirus-induced market crash last year, roughly recovering all of its March 2020 losses by August. In contrast, it took until 2021 for most of the ASX banks to do the same. And over the past 5 years, BHP shares have gained more than 132% in value. And that’s not even including dividend returns.

As it stands today (at the time of writing) at $48.36 a share, BHP is sitting pretty close to its 52-week (and all-time) high of $50.93. Even at this relatively high share price, BHP still offers a trailing dividend yield of 4.3% (or 6.13% grossed-up with BHP’s full franking).

So are BHP shares worth a buy today?

Before we ask that question, let’s have a think about what is driving these share price gains. Well, it mostly comes down to commodity prices. As it stands today, BHP’s largest operation is iron ore. And as it happens, the price of iron ore is currently near all-time highs. At the time of writing, it’s trading for US$197 a tonne. Back in 2016, it went under US$40 a tonne at one point.

But iron ore isn’t BHP’s only game. It also has significant operations in coal, oil and copper. All 3 of these commodities have also been enjoying a pricing boom of late too. Brent crude is now well back above US$60 a barrel, and coal is above US$85 a tonne. And copper has never been priced so high. It’s currently at almost US$450 a pound, more than double what it was this time last year.

So no wonder investors are liking what they see with BHP right now.

Is the BHP share price a buy today?

According to CommSec, investment banker and broker Goldman Sachs has rated BHP shares a ‘buy’, with a pricing target of $54.20 a share upheld last week. Goldman sees further upside for BHP shares due to a positive outlook on future coal, oil and copper prices going forward. Goldman estimates we will see a 50% rise in BHP’s earnings before interest, tax, depreciation and amortisation (EBITDA), and a 10% free cash flow yield in FY2021.

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• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Sebastian Bowen 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the day with a decline. At the time of writing, the benchmark index is down 0.4% to 7,024.7 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are storming higher:

Bingo Industries Ltd (ASX: BIN)

The Bingo share price is up 6.5% to $3.41. Investors have been buying the waste management company’s shares after Macquarie Infrastructure and Real Assets tabled a $2.3 billion takeover offer. The Bingo board is recommending shareholders accept the offer. This is subject to no better offer being made and the independent expert concluding it is in the best interests of shareholders.

Life360 Inc (ASX: 360)

The Life360 share price has jumped 12% to $5.87. This follows news that the technology company has entered into a non-binding term sheet for the acquisition of Jiobit for US$37 million. Jiobit is a provider of wearable location devices for young children, pets, and seniors. It provides families a comprehensive location-aware safety solution that is accurate, secure, reliable and real-time. Management believes that bundling Jiobit’s high value, low-cost physical device into Life360’s top membership tiers will significantly boost both conversion and retention.

Tabcorp Holdings Limited (ASX: TAH)

The Tabcorp share price is up 3.5% to $4.97. The catalyst for this was news that UK-based Entain has increased its bid for Tabcorp’s wagering and media unit from $3 billion to $3.5 billion. However, unlike Bingo above, the Tabcorp board has advised that it is yet to form a view on the latest offer.

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan share price has stormed 7.5% higher to $8.20. Investors have been buying the lithium developer’s shares after it entered a binding agreement to acquire geothermal surface consultancy business, Global Engineering and Consulting. Management notes that the acquisition will double the size of Vulcan’s technical team driving the development of its Zero Carbon Lithium project.

More reading

• Why the Vulcan (ASX:VUL) share price is surging 7%
• ASX 200 down 0.5%: Bingo & Tabcorp takeovers, BlueScope upgrades guidance
• Life360 (ASX:360) share price jumps 9% to record high on acquisition news
• BINGO (ASX:BIN) share price charges 7% higher on takeover agreement
• Why the Tabcorp (ASX:TAH) share price is in the spotlight

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Life360, Inc. 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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Montgomery Investment Management founder Roger Montgomery has predicted a little-known ASX-listed airline could enjoy a 40% lift in earnings.

The veteran investor told his online subscribers that Alliance Aviation Services Ltd (ASX: AQZ)’s advantage is that it “wet leases” planes to its big rivals in addition to its own operations.

“Under a wet leasing arrangement, Alliance supplies the aircraft as well as crew, maintenance, and insurance – while the customer pays by hours operated, pays for fuel, and covers airport fees, duties and taxes,” said Montgomery.

Alliance does good business out of wet leasing, having agreements with Qantas Airways Limited (ASX: QAN) and Virgin Australia.

“As Virgin recommences operations, it will need planes. Alliance [has] these and the cost structure to make money, along with a solid balance sheet,” Montgomery said.

“Most recently, Qantas announced it will aim for a greater share of the Australian domestic market with the help of Alliance under a 3-year deal. Qantas will wet lease at least three of Alliance’s recently acquired Embraer 190 jets, and possibly as many as 14.”

Alliance to cash in on domestic travel ramp-up

Montgomery reckons Alliance has “one of the best management teams” among ASX-listed small-cap companies.

“Alliance is a beneficiary of the reopening of domestic travel,” he said.

“Low unit capital cost assets, a low cost base and plenty of spare capacity mean an estimated 40 per cent EBITDA uplift is not implausible.”

The fund manager classifies Alliance stocks as a “tactical opportunity”.

“These firms might offer opportunities through industry catalysts, a company taking market share, or as we saw during and after COVID’s impact on a number of Australian industries, companies moving from being perceived as survivors to thriving.”

The value to the big airlines of its wet leasing arrangements was emphasised by Qantas earlier this year.

“The ability to switch on extra capacity with Alliance will help us make the most of opportunities in a highly competitive environment,” the airline stated.

“And having the right aircraft on the right route helps us deliver the schedule and network that customers want.”

The Alliance share price is down 0.94% at the time of writing, trading at $4.22. It started the year at $3.72.

More reading

• Are ASX travel shares about to go through a big recovery?
• Brokers favourite ASX share for the COVID-19 reopening trade
• 5 things to watch on the ASX 200 on Wednesday
• Australia-NZ bubble now open! The 4 ASX shares impacted
• Airbnb predicts huge rebound, ASX travel shares in the hot seat

Motley Fool contributor Tony Yoo owns shares of Qantas Airways Limited. 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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Copper prices have surged to US$4.44/lb, the highest since 2011.

While ASX mining shares such as Rio Tinto (ASX: RIO) and BHP Group Ltd (ASX: BHP) are diversified producers with copper production, here are the pure copper majors and juniors of the ASX. 

Copper majors 

Oz Minerals Limited (ASX: OZL) 

Oz Minerals is the largest copper-focused ASX share with a market capitalisation of approximately $8 billion. Its shares have soared alongside copper prices, up 26% year-to-date and more than 150% in the past 12-months to record territory. 

The company delivered a mixed first-quarter update with the softer copper product due to its Carrapatenna mine switching contractors, which lowered fleet availability and grades. Despite quarterly production potentially missing expectations, the company believes it is on track to meet its FY21 production guidance.

Oz Minerals continues to eye several growth pipeline projects with a number of drilling programs underway. 

Brokers are relatively mixed on Oz Mineral shares with an average price target of $23.16 across Morgans, Macquarie, Credit Suisse and Morgan Stanley. Commentary has highlighted a stronger performance out of Carrapateena in the June quarter and the solid copper price to continue to drive earnings upside momentum. 

Sandfire Resources Ltd (ASX: SFR)

Sandfire is another mid-tier copper producer with a market cap of approximately $1.1 billion. The company has leveraged the recent surge in copper prices, with its interim net profits surging from $34.2 million in 1H20 to $60.8 million in 1H21. 

Sandfire has started developing its significant copper-silver production hub in Botswana, receiving board approval for the initial 3.2Mtpa operation.

The most recent broker update from Macquarie on 9 March believes higher copper prices will significantly impact Sandfire Resources.

The broker estimates the earnings forecast could rise by an average of 90% over the next five years. Macquarie rates its shares as outperform with an $8.8 target price. Sandfire shares are currently fetching $6.35. 

Copper juniors 

Copper Mountain Mining Corp (ASX: C6C)

Copper Mountain shares have more than doubled this year and are up an eye-watering 800% in the past 12 months. The company has made an outstanding transition from explorer to producer, with record production and revenues flowing through. 

Copper Mountain released a quarterly activities report on Tuesday, highlighting quarterly revenue of $162.2 million and gross profit of $96.3 million from the sale of 27.5 million pounds of copper, 8,553 ounces of gold and 161,657 ounces of silver. 

While the company may sound like a mid-tier producer, it boasts a market capitalisation of just ~$67 million. 

Cyprium Metals Ltd (ASX: CYM) 

Cyprium focuses on mid to late-stage local copper projects that could be fast-tracked into the production of copper metal.

The company recently acquired a portfolio of copper projects from Metals X Limited (ASX: MLX). Cyprium executive director Barry Cahill commented on the acquisition, saying: 

We look forward to leveraging our many years of combined team experience, to position Cyprium to establish itself as a significant Australian mid-tier copper producer.

More reading

• Leading brokers name 3 ASX shares to sell today
• Copper Mountain (ASX:C6C) share price rockets 8% on profit growth
• What’s behind the rising BHP (ASX:BHP) share price today?
• Oz Minerals (ASX:OZL) share price slips despite solid update
• ASX miners in focus as the copper price looks poised to crack above 10-year highs

Motley Fool contributor Kerry Sun 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 Anteris Technologies Ltd (ASX: AVR) share price is rising today after the company announced its ComASUR Key Milestone report.

At the time of writing, the Anteris share price is up 5.5% to $9 per share.

Anteris Technologies is a healthcare company specialising in the design and production of heart valve and tissue products. It markets itself to investors as a structural heart company. In particular, delivering “clinically superior and durable solutions through better science and better design”. Its focus is on developing next-generation technologies that help healthcare professionals create life-changing outcomes for patients.

After having sold the rights to its CardioCel and VascuCel patch products in 2019, the company’s main focus today is on its Adapt BioScaffold products. In addition to the development of new heart valve replacement solutions. According to Anteris, the Adapt products are used across more than 135 medical centres globally.

In 2020, the company commenced human trials of its DurAVR heart valve.

Heart valve tech steps up

The company’s milestone regards a specific technological component in its heart-valve artificial construction process called ComASUR. The company reports reaching concept lock on critical components of its ComASUR Transfemoral Delivery System. Furthermore, causing the Anteris share price surges today.

Most importantly, the novel commissural alignment component is now fully functional. This component gives physicians the ability to align the commissures of the replacement valve to the native valve.

This aspect of Transcatheter Aortic Valve Replacement (TAVR) delivery is not available with currently marketed products. However, it is highly desired by physicians.

A series of acute animal studies demonstrated the feasibility of the DurAVR THV (prosthetic aortic valve) and its bespoke ComASUR delivery system. The studies were specifically designed to show the ComASUR delivery system’s ability to access the arterial vasculature. This uses minimally invasive techniques and tracks through the aortic arch to the aortic valve where a DurAVR THV was implanted.

The studies are a critical part of the test plans agreed with the FDA. This is a part of its approval process for the Company’s Early Feasibility Study planned later in the year.

Anteris management comments

Anteris CEO, Wayne Paterson said the company’s latest milestone was very positive and the Anteris share price has responded.

This milestone is highly significant as we continue to innovate our product offerings. The commissural alignment component will give physicians the ability to deliver DurAVR accurately and consistently leading to better outcomes for patients. This further strengthens our three key technology pillars (ADAPT, DurAVR and ComASUR).

As we advance towards our FDA EFS submission, these milestones are critical to ensure study approval.

Share price snapshot

The Anteris share price has been a highly disappointing performer on the ASX. Losing more than 90% of its value over the past five years. The company has executed several capital raisings and has struggled with debt and cash flow issues.

However, since the beginning of 2021, the Anteris share price has more than tripled in value. Still far below its all-time highs of over $150, the Anteris share price has still gained 140% in 2021 so far.

More reading

• Anteris (ASX:AVR) share price drops 7% despite positive announcement

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 Atlas Arteria Group (ASX: ALX) share price is down today after the company gave a pricing update on one of its American operations and held its AGM.

Shares in the toll road operator are down 3.1% at the time of writing, trading at $5.93. In comparison, the S&P/ASX 200 Index (ASX: XJO) is 0.42% lower.

Let’s take a closer look at today’s updates and what they mean for the Atlas share price.

What’s driving the Atlas share price today?

Toll road update

In today’s first announcement, Atlas Arteria updated investors on the recent decision by the Virginia State Corporation Commission (SCC) regarding the Dulles Greenway – a toll road in the United States owned and operated by Atlas.

The company sought to increase tolls on the road from $5.80 in 2020 to $6.15 for 2021 for peak travel (6.0% rise) and to $6.55 for 2022 (6.55% rise) for peak travel. The SCC rejected this proposal and opted to leave the toll at $5.80 for the next two years.

The off-peak toll increased by 5.3% for 2021 and a further 5.0% for 2022, as Atlas requested. The 2021 increase will take immediate effect.

According to the release, Atlas did meet certain criteria to increase the peak toll, but “exercised [its] discretion to allow off-peak toll increases only for 2021 and 2022, due to the changes and uncertainty brought about by the COVID-19 pandemic”.

Atlas CEO Graeme Bevans said:

The current COVID-19 environment has clearly impacted the outcome. The shorter period for toll increases is understandable given the circumstances, and it is important to keep our customers front of mind.

Despite the shorter term, the SCC decision demonstrates that the Dulles Greenway continues to provide value for its customers in Northern Virginia and Loudoun County.

Mr Bevans also said the company was working to “improve mobility and traffic flow” for westbound traffic during peak hours.

Annual General Meeting

Also material to the Atlas share price, the company held its annual general meeting (AGM) today.

Atlas chair Debbie Goodin told the AGM that the company was still affected by COVID impacts. She called the situation “a challenge”.

Highlights of her speech included:

• Safety metrics have improved in Atlas’ French operations, with long-term injury dropping from a 5 in 2019 to 2.7 in 2020. However, the company reported an incident in France where an employee was struck by a loose wheel from a heavy vehicle and is in critical condition.
• Atlas’ stake in APRR (the French motorway network company) increased from 25% to 31%.
• The company expects to continue its dividend payments in the near term.

Mr Bevans also addressed investors in the ATM.

In his speech, he noted how lockdowns in Europe and the US were negatively impacting the business. As well, he noted the Dulles Greenway traffic was more “subdued” than it otherwise would be but believes the outlook is optimistic as vaccinations continue and lockdowns ease, especially in Virginia.

Atlas share price snapshot

Over the past 12 months, the Atlas share price has increased a modest 4.2%. However, since the beginning of the year, shares in the company have dropped 8.4%.

Atlas Arteria has a market capitalisation of $5.7 billion.

More reading

• Why the Atlas Arteria (ASX:ALX) share price is dropping today
• 5 things to watch on the ASX 200 on Friday
• 5 things to watch on the ASX 200 on Tuesday

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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Audio Pixels Holdings Ltd (ASX: AKP) shares are plunging today after the company released its quarterly update for the period ending 31 March. At the time of writing, the Audio Pixels share price is down 10.57% to $23.10.

Let’s take a look at how the digital loudspeaker company has been performing.

Quarterly performance

According to its release, Audio Pixels’ main focus for the period has been an “intensive effort” to combine the company’s accomplishments into working devices that can serve as product demonstrators as well as engineering samples for select customers. The primary highlight of the period was the successful sampling of playing chips and multi-chip boards outside of its cleanroom.

However, Audio Pixels has been contending with widespread disruptions throughout the global semiconductor supply chain. Global shortages for the in-demand silicone chips – that are used for virtually all electronics these days – are hitting the company, but these aren’t its only problem.

The company advised the impact of supply shortages on its production has so far been manageable, but “the adverse effect on the packaging of our chips has been dramatic”. Audio Pixels has partnered with a “world-leading” specialty chip packaging company and has “spent over five years developing and perfecting an automated packaging process for our chips”.

But unprecedented production demands on the company’s partner have prevented it from making use of this packaging line.

Background

Audio Pixels is an Australian listed company that has 100% ownership of an Israel-based company, Audio Pixels Limited. The company is focused on the development of an “entirely new generation” of digital loudspeakers. Audio Pixels’ patented technology aims to radically improve the design and performance of speakers by generating sound waves from audio streams through the use of microelectromechanical structures (MEMS).

Founded in 2006, the company is striving to produce high-quality sound production via single silicon chips that can be licensed and/or sold as stand-alone speakers or collectively incorporated into a range of electronic devices as required. According to Audio Pixels, the company is actively engaging with leading consumer electronics manufacturers regarding the development of its technology.

Whilst Audio Pixels’ product is still under development, the company believes market research points to significant demand for real innovation in audio speakers to bring them in line with current device trends.

Audio Pixels share price snapshot

Audio Pixels shares listed on the ASX in 2004. After remaining relatively flat for its first few years of trade, the Audio Pixels share price began really taking off in late 2010. It continued to trend upwards from then, reaching nearly $33 in July 2016. Since then, the company’s share price has been volatile, trading as low as $8.69 in March 2020 and as high as $28 in September 2020.

The Audio Pixels share price had been mostly stable in 2021 until this month, when it has continued to fall dramatically. It has now lost around $5 this month alone, an 18.7% decline. It’s still up by around 60% over the past 12 months, however. 

More reading

• Why is the Anteris (ASX:AVR) share price surging today?
• Why the Atlas Arteria (ASX:ALX) share price is sliding today
• ASX stock of the day: MSL Solutions (ASX:MSL) shares rise 20%
• Why is the Grange Resources (ASX:GRR) share price rising today?
• ASX bank shares best placed to ride the $1bn+ provisioning profit boost this reporting season

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 MSL Solutions Ltd (ASX: MSL) share price is one of the better performers on the ASX today. At the time of writing, MSL shares are up an impressive 19.23% to 16 cents a share. MSL closed at 13 cents a share yesterday and opened at 14 cents this morning before rocketing as high as 20 cents in early trade. That’s a gain of more than 50%. Of course, MSL has cooled off somewhat since, but 20% is still 20%.

Today’s moves are only the latest bit of good news for MSL Solutions shareholders. On the current pricing, the company is now up 32% since last Wednesday, and 128.5% since November last year.

But who is MSL Solutions? And why are MSL shares rocketing so dramatically today?

Who is MSL?

MSL is a tech company that uses a software-as-a-service (SaaS) platform to provide services to the entertainment, sporting and hospitality sectors. Its software systems allow businesses to ‘connect’ to their customers through entry and exit monitoring, ordering facilities, promotions and end-to-end point of sale payment solutions. It also allows businesses to integrate their own internal operations, facilitating data sharing between ‘front of house’ and ‘back of house’ operations. It also provides “actionable insights on key success metrics to venues of all sizes”.

MSL Solutions currently works with over 5,000 customers, which include names like Golf Australia, the Queensland Cricketers’ Club and the Parramatta Eels NRL team.

Last year, the company signed an agreement with buy now, pay later provider Openpay Group Ltd (ASX: OPY). This agreement allowed customers to use Openpay when buying some products from MSL.

Why is the MSL Solutions share price rising today?

We have seen two major announcements from MSL Solutions over the past 2 days that are likely to be the pricing catalysts behind MSL’s gains today.

Firstly, MSL told the markets yesterday that it has signed a ~$3.5 million, 5-year agreement with the American company ASM Global to provide point of sales payment solutions. This agreement covers 22 “large event venues”, including arenas and racetracks, in the United Kingdom which are operated by ASM. It will see ASM install ~900 terminals that will run MSL software. MSL is set to “ earn a combination of upfront software, hardware and services revenue plus annual support revenue over the initial 5–year term”.

Secondly, MSL Solutions released a business update covering the quarter ending 31 March 2021 this morning. In this update, MSL reported its third consecutive quarter of positive operating cash flow. It also saw net cash from operations rise from virtually zero to $1.3 million year on year. MSL tells us that it is on track to record a full year of consistent cash generation from operations, which would be its first since FY2018. The company also reported that it has $4 million in cash on hand as well.

Judging by the MSL share price performance today, and over the past week, investors are clearly liking what they are seeing with the company. At the current share price, MSL Solutions has a market capitalisation of $52.24 million.

More reading

• Why is the Anteris (ASX:AVR) share price surging today?
• Why the Atlas Arteria (ASX:ALX) share price is sliding today
• Why is the Audio Pixels (ASX:AKP) share price falling 11% today?
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Motley Fool contributor Sebastian Bowen 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.

The post ASX stock of the day: MSL Solutions (ASX:MSL) shares rise 20% appeared first on The Motley Fool Australia.

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