The S&P/ASX 200 Index (ASX: XJO) bounced back today following a 2% tumble that saw only four shares close higher on Monday. The index lifted 0.47% in Tuesday’s session to close at 6,998.30 points.

In the lead was the S&P/ASX 200 Information Technology Index (ASX: XIJ), with an 1.8% gain.

The S&P/ASX 200 Energy Index (ASX: XEJ) came in next best with a 1.4% rise, helped along by the Woodside Energy Group Ltd (ASX: WDS) share price. It rose 1.5% following the company’s half-year earnings and a monster dividend.

Surging oil prices also likely helped bolster the sector. The Brent crude oil price rose 4.1% to US$105.09 a barrel overnight while the US Nymex crude oil price lifted 4.2% to US$97.01 a barrel.

Meanwhile, the S&P/ASX 200 Materials Index (ASX: XMJ) recorded the worst performance, slipping 0.04% today. It was weighed down by the Sandfire Resources Ltd (ASX: SFR) share price, which slumped 3.6% on the back of the company’s financial year 2022 results.

So, with all that in mind, which ASX 200 share outperformed all others on Tuesday? Keep reading to find out.

Top 10 ASX 200 shares countdown

Shares in ASX 200 materials giant Mineral Resources Ltd (ASX: MIN) took out the top spot on the market, gaining 6% today. The company’s stock fell 1.7% yesterday on the back of its full-year earnings.

Today’s biggest gains were made by these ASX shares:

ASX-listed company	Share price	Price change
Mineral Resources Ltd (ASX: MIN)	$67.96	6.2%
A2 Milk Company Ltd (ASX: A2M)	$5.73	6.11%
Paladin Energy Ltd (ASX: PDN)	$0.815	5.84%
EML Payments Ltd (ASX: EML)	$0.905	5.23%
Lake Resources Ltd (ASX: LKE)	$1.12	5.16%
Chalice Mining Ltd (ASX: CHN)	$4.35	5.07%
Novonix Ltd (ASX: NVX)	$2.33	4.95%
Webjet Limited (ASX: WEB)	$5.11	4.5%
Northern Star Resources Ltd (ASX: NST)	$7.79	4.42%
Imugene Limited (ASX: IMU)	$0.24	4.35%

Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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More reading

• Could this give some ASX lithium shares the edge?
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Why A2 Milk, Deep Yellow, Healius, and IGO shares are racing higher
• Are A2 Milk shares ‘turning a corner’ on the daigou debacle?
• Why is the Paladin Energy share price up 6% today?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended EML Payments. The Motley Fool Australia has positions in and has recommended EML Payments. The Motley Fool Australia has recommended A2 Milk and Webjet Ltd. 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 Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price is not attractive to some analysts.

The reasons why investors are not jumping on ANZ shares could partly explain why the ANZ share price is down 18% in 2022.

ANZ is one of the big four ASX bank shares alongside Commonwealth Bank of Australia (ASX: CBA), National Australia Bank Ltd (ASX: NAB) and Westpac Banking Corp (ASX: WBC).

But, the bank’s decision to try to buy the banking operations of Suncorp Group Ltd (ASX: SUN) has put ANZ’s operational difficulties under the spotlight.

What’s going wrong with ANZ?

The Age reported on the recent changes in market share of the big four banks, according to Macquarie Research and APRA in July 2022.

NAB is the only major bank to achieve a higher market share over the past 12 months. But, ANZ’s loss of housing market share sticks out like a sore thumb. ANZ’s market share of housing dropped by more than 100 basis points over 12 months to July 2022, meaning its market share reduced by more than 1%.

The newspaper reported that at the end of last year, ANZ’s processing times for a home loan application had reached 51 days. Macquarie Group Ltd (ASX: MQG), which wants to grow Macquarie Bank, had a loan turnaround time of around a week. ANZ says things are getting better.

But, The Age quoted a former employee that questioned ANZ about this. That employee reportedly said:

I don’t understand why it has taken them so long to fix it.

Is the Suncorp acquisition the answer?

ANZ wants to buy the banking operations of Suncorp Group Ltd (ASX: SUN) for $4.9 billion.

This acquisition includes $47 billion of home loans with a “strong risk profile”, $45 billion in “high-quality” deposits and $11 billion in commercial loans.

At the time, ANZ CEO Shayne Elliott said:

With much of the work to simplify and strengthen the bank completed, and our digital transformation well-progressed, we are now in a position to invest in and reshape our Australian business. This will result in a stronger more balanced bank for customers and shareholders.

This is a growth strategy for ANZ and we will continue to invest in Suncorp Bank and in Queensland for the benefit of all stakeholders.

One analyst puts ANZ as his least favourite big four ASX bank share. The Age quoted Jefferies Brian Johnson, who said:

Perhaps they’re too motivated by trying to have a bigger market share figure in housing than the shareholder value it creates.

You haven’t seen their market share improve. Their mortgage servicing is yet to actually improve, and they’ve abandoned their $8 billion cost target for 2024.

He also reportedly is “unimpressed” by ANZ Plus.

Time will tell whether the deal is approved by the ACCC and how much it adds (or not) to ANZ’s earnings per share (EPS).

In the recent ANZ FY22 third quarter update, it said revenue was up 5% in the three months to 30 June 2022, while the net interest margin (NIM) increased by 3 basis points and the underlying NIM improved by 6 basis points. Rising interest rates are expected to be “supportive” for margins in the fourth quarter, according to ANZ.

ANZ share price snapshot

Compared to a month ago, the ANZ share price is almost unchanged.

The post Why this analyst ranks ANZ shares at the bottom of the big-four-bank pile appeared first on The Motley Fool Australia.

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More reading

• Are ANZ shares really offering the highest dividend yield of the big four?
• Here are 2 ASX dividend shares that analysts are tipping as buys
• Could this pose a risk to the ANZ share price in the future?
• ANZ share price on watch following equity raising update
• Can ANZ’s latest acquisition help it catch up to the other ASX 200 bank shares?

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Westpac Banking Corporation. 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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It’s been a rather pleasant day for ASX shares this Tuesday. The All Ordinaries Index (ASX: XAO) gained a robust 0.51% to close at 7,230.4 points. But let’s talk about one All Ords tech share that put the index to shame today.

The Archer Materials Ltd (ASX: AXE) share price was on fire today. Shares in the materials technology company closed 12.33% higher at 82 cents a share.

It comes after this ASX All Ords tech share closed at 73 cents yesterday and opened at that level this morning. Then, in early afternoon trading, Archer shares shot as high as 98 cents each, a gain of more than 34%.

So what’s going on with Archer Materials? It must be something big, seeing the company gained a third of its value in little over an hour…

Well, it seems that an ASX release put out around midday is responsible for these eye-watering moves.

The announcement revealed that Archer Materials has achieved its goal of “reliably” fabricating sub-10 nanometre semiconductor chips.

Back in May, Archer announced that it had achieved fabrication of 15nm chips. This benefitted the company’s shares at the time as well. But back then, Archer also flagged that it was working towards “breaking through the 10-nanometre barrier”.

Well, that’s what the company now appears to have achieved.

Archer Materials shares rocket on sub-10nm chip news

Here’s some of what the ASX release said:

Archer has now fabricated sub-10 nm features reproducibly and reliably by developing several advanced lithographic processes on a silicon wafer in a clean-room environment. The work is a significant technical achievement and represents a technology development breakthrough for the Company…

Archer’s sub-10 nm feature fabrication is in line with the current semiconductor industry best-in-class for chip feature sizes and provides the Company with a significant competitive advantage…

The extreme miniaturisation would give Archer greater flexibility, capability, and higher integration density in its lithographic processes for the design and fabrication of its technologies.

Archer CEO Dr Mohammad Choucair had this to say on the news today:

Achieving sub-10 nanometre fabrication of electronic device components is an excellent outcome on our path to developing Archer’s biochip technology, and one that demonstrates the world-class capabilities of our pioneering team.

Archer Materials now hopes to use this technological breakthrough to advance its ambitions to provide a ‘biochip’ that can detect “some of the world’s most deadly communicable diseases”.

At the closing Archer Materials share price on Tuesday, this ASX All Ords tech share has a market capitalisation of around $211 million.

The post Here’s why this ASX All Ords tech share rocketed 34% today appeared first on The Motley Fool Australia.

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More reading

• Goldman Sachs tips NextDC share price to rise 40%
• Another ASX 200 CEO has just offloaded almost $3m worth of shares in his company. Here’s the lowdown
• 3 ASX All Ordinaries shares being sold off following FY22 results
• What’s the outlook for the Westpac share price in September?
• Could this give some ASX lithium shares the edge?

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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The NextDC Ltd (ASX: NXT) share price is having a tough week.

Despite releasing a strong full year result, weakness in the tech sector has dragged the data centre operator’s shares lower.

Is the NextDC share price weakness a buying opportunity?

According to a note out of Goldman Sachs, its analysts believe investors should be snapping up shares following recent weakness.

This morning its analysts have retained their conviction buy rating with an improved price target of $14.30.

Based on the current NextDC share price of $10.26, this implies potential upside of almost 40% for investors over the next 12 months.

What did the broker say?

Goldman was pleased with NextDC’s “solid” result and was even happier with its guidance for FY 2023. The broker commented:

NXT reported a solid FY22 result, with revenue/EBITDA -1% vs. GSe, but within/above its upgraded guidance range. Positively FY23 Rev/EBITDA guidance for +19%/+15% growth was provided, which was +1% vs. Gse.

Its analysts were also pleased to see that NextDC demonstrated good pricing power with its services, which helped offset inflationary pressures. It explained:

Other Positives: (1) Pricing power evident, with strong realized yields & 5-7% price rises introduced given inflation/power; (2) High yielding Enterprise momentum across all regions, with +3MW contracted growth in FY22, at top end of historical targets; (3) M2 Expansion to 100MW (from 60).

All in all, this has led to Goldman making small upgrades to its earnings estimates and its valuation. It concludes:

We revise NXT FY23-24 EBITDA +2%/+0% given stronger yields, offset by higher costs. Our 12m TP is +1% to $14.30. Stay Buy (on CL) ahead of the acceleration in growth following S3/M3 openings and supply chain normalization.

The post Goldman Sachs tips NextDC share price to rise 40% appeared first on The Motley Fool Australia.

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More reading

• Why Aussie Broadband, Grange, NextDC, and PolyNovo shares are being hammered
• ASX 200 tech shares are getting hammered on Monday. Here’s why
• NextDC share price powers down 7% despite turning a profit
• Experts name 2 ASX 200 shares to buy next week
• $20,000 invested in these ASX shares 10 years ago is worth how much now?

Motley Fool contributor James Mickleboro has positions in NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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The Carsales.com Ltd (ASX: CAR) share price is rebounding from yesterday’s sell-off.

This comes despite the company announcing that its CEO has taken the opportunity to offload a portion of his shares.

At the time of writing, the auto listings company’s shares are up 2.02% to $22.28.

Carsales CEO sells down his holdings

Investors appear unfazed by the company’s latest news, sending the Carsales share price into positive territory.

According to its release, Carsales advised that its CEO Cameron McIntyre disposed 128,150 of his shares for around $2.8 million.

In addition, McIntyre received 79,600 performance rights with a zero exercise price option on 24 August. This was issued at $22.29 per right.

The nature of the change was due to “vesting of performance rights, lapsing of options and lapsing of performance rights.”

Following the adjustment in holdings, McIntyre now has 725,736 direct and indirect Carsales shares including vested and unvested options.

While it is not uncommon for a CEO to sell a parcel of his shares, it has come at an opportune time for McIntyre.

Carsales shares recently hit a near year-to-date high of $23.01 on 15 August and have been trading just below ever since.

Carsales share price summary

Despite its recent gains, the Carsales share price has posted a loss of 7% over the past 12 months.

When looking at year-to-date, its shares are down 9%.

Based on today’s price, Carsales commands a market capitalisation of approximately $7.66 billion with 350.85 million shares on issue.

The post Another ASX 200 CEO has just offloaded almost $3m worth of shares in his company. Here’s the lowdown appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Why BlueScope, Carsales, Core Lithium, and Nearmap shares are racing higher
• Carsales share price launches 5% as profit lifts to $161m
• Carsales share price on watch as full-year profit jumps 23%

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended carsales.com Limited. 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 All Ordinaries Index (ASX: XAO) is in the green today, lifting 0.72%, but these shares are defying its gains. They’re each trading lower on the back of their companies’ latest earnings being released.

Let’s take a look at how these three ASX All Ordinaries companies performed in financial year 2022 (FY22).

Atomos Ltd (ASX: AMS)

The Atomos share price is plummeting 16% to trade at 24 cents after the company dropped its earnings for FY22. That’s despite the manufacturer and distributor of video equipment posting record revenue for the period.

That’s right, Atomos brought in $82 million of revenue in FY22, a 4.3% improvement on that of the prior corresponding period (pcp).

However, its net profit after tax (NPAT) tumbled 243% to a $6 million loss and its earnings before interest, tax, depreciation, and amortisation (EBITDA) fell 115% to a $1.2 million loss.

The company’s results were weighed down by several one-off expenses. But it expects the momentum experienced in the final quarter will continue into FY23.

PPK Group Limited (ASX: PPK)

The PPK share price is also suffering on the back of the company’s full-year earnings. It’s falling 0.9% right now to trade at $1.62.

That’s despite the company’s revenue doubling in FY22, lifting to $1.6 million. Its loss also came in at half that of FY21, improving to reach ($2.5 million).

However, the company declined to pay a final dividend for the second year in a row, bringing its full-year payout to 2.81 cents per share. That’s down from FY21’s total dividends of 3.5 cents.

Commentary on some of the company’s segments might also be weighing the stock down today.

CogState Limited (ASX: CGS)

Finally, ASX All Ordinaries share CogState is plunging 5.6% to trade at $1.60. Its fall has come on the back of full-year results released by the cognition-focused technology company.

The share price dip is despite the company posting around US$45 million of revenue for the period, a 37.6% increase on that of the pcp.

It also brought in US$13 million of EBITDA – a 127.8% lift, and $7.5 million of NPAT – a 43.7% improvement.

The post 3 ASX All Ordinaries shares being sold off following FY22 results appeared first on The Motley Fool Australia.

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More reading

• Goldman Sachs tips NextDC share price to rise 40%
• Another ASX 200 CEO has just offloaded almost $3m worth of shares in his company. Here’s the lowdown
• What’s the outlook for the Westpac share price in September?
• Could this give some ASX lithium shares the edge?
• Could this new piece of legislation be a boost for ASX lithium shares?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Atomos Ltd and CogState Limited. The Motley Fool Australia has positions in and has recommended CogState Limited. 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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Earnings season is starting to slow down but there’s still plenty of excitement for those interested in finding it. Take these three ASX shares for example. They’re each leaping higher on Tuesday on the back of earnings announcements.  

Here’s a run through of the results they posted to the market today.

Tesserent Ltd (ASX: TNT)

The Tesserent share price is leaping 8.7% to trade at 12.5 cents on Tuesday afternoon following the release of the company’s financial year 2022 earnings. And what a financial year it was.

The cyber security service provider posted a $166 million turnover – representing a 71% year-on-year increase.

It also brought in $18.6 million of earnings before interest, tax, depreciation, and amortisation (EBITDA) on a normalised basis, representing a 94% lift.

Finally, its normalised net profit after tax (NPAT) rose 38% to $10 million.

EMvision Medical Devices Ltd (ASX: EMV)

Financial year 2022 was also good to EMvison Medical Devices, and the market apparently agrees. It’s bidding the ASX medical imaging technology developer’s stock 7.8% higher to $1.52 on the back of its earnings.

The company posted nearly $4.4 million of revenue for the financial year just been, 144% more than it did for the prior corresponding period (pcp).

Its losses also improved, lifting to a $6.1 million loss compared to financial year 2021’s $8.4 million loss.

Energy Resources of Australia Limited (ASX: ERA)

Finally, the Energy Resources of Australia share price is lifting 2.8% to trade at 25.7 cents after the ASX-listed uranium producer dropped its half-year earnings today.

It posted an after-tax loss of $34 million for the six months ended June. That reflected lower sales volumes and higher non-cash costs. Its revenue from uranium sales also slumped 34% over the period to $35.3 million.

It comes after its Ranger Mine ceased operation in January 2021, meaning no uranium oxide was produced by the company last half. It also spent $80 million on rehabilitation activities at the Ranger Project Area over the half just been.

The post 3 ASX shares soaring on earnings updates appeared first on The Motley Fool Australia.

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More reading

• The ASX shares with 30% to 50% upside: fundie

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended EMvision Medical Devices 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 Scott Phillips.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has bounced back from yesterday’s selloff. At the time of writing, the benchmark index is up 0.7% to 7,014.3 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are racing higher:

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is up 4% to $5.63. This morning the team at Bell Potter responded to the infant formula company’s full year results very positively. Its analysts have upgraded A2 Milk’s shares to a buy rating with an improved price target of $6.35. It commented: “If A2M can execute on its strategy to achieve ~NZ$2Bn in FY26e revenues and EBITDA margins in the teens, then it would imply compound double digit EPS growth through to FY26e.”

Deep Yellow Limited (ASX: DYL)

The Deep Yellow share price is up 12% to $1.03. Investors have been buying this uranium developer’s shares after the price of the chemical element surged higher overnight. With many governments looking at nuclear power options, traders are betting that demand for uranium will increase strongly.

Healius Ltd (ASX: HLS)

The Healius share price is up 3% to $3.81. This morning this healthcare company reported record results for FY 2022. Healius’ revenue was up 22.2% to $2,337.7 million and its net profit after tax doubled to $309.3 million. COVID testing demand was a key driver of its growth in FY 2022. This was supported by the roll-out of nearly half of its sustainable improvement program phase 2 initiatives.

IGO Ltd (ASX: IGO)

The IGO share price is up 3.5% to $13.12. This follows the release of the battery materials miner’s full year results for FY 2022. IGO reported a 34% increase in revenue to $903 million and a 51% jump in underlying EBITDA to $717 million. This reflects the first-year contribution from its lithium joint venture and a strong performance from its Nova nickel project.

The post Why A2 Milk, Deep Yellow, Healius, and IGO shares are racing higher appeared first on The Motley Fool Australia.

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More reading

• Are A2 Milk shares ‘turning a corner’ on the daigou debacle?
• Could this tiny development add even more fuel to ASX uranium shares?
• Healius share price climbs as profit doubles in FY22
• IGO share price moves higher on record earnings
• 5 things to watch on the ASX 200 on Tuesday

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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended A2 Milk. 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 A2 Milk Company Ltd (ASX: A2M) share price has jumped almost 15% since the company told investors yesterday how it performed in FY22 and made comments about how its recovery is going in China.

Readers may recall that FY21 was impacted heavily by a reduction in demand from China and daigou shoppers (who buy and export luxury goods to customers in China for a profit). This also had a painful impact on inventory, which then impacted product freshness and product margins.

In FY21, A2 Milk reported that infant nutrition revenue in ANZ decreased 52.1%, which it partly attributed to the unwinding of pantry stocking, as well as COVID-19 restrictions.

But, FY22 appeared to demonstrate some return of demand and growth.

Growth returns

A2 Milk reported that total revenue grew by 19.8%, while China label and English label infant formula sales grew 12.2% and 11.6%, respectively.

Earnings per share (EPS) rose 51.8% to 16.5 cents, while the company also announced a $150 million share buyback.

It said that brand health metrics reached new highs across the business, with the total A2 Milk infant formula spontaneous brand awareness in China increasing “significantly” from 16% to 21% after a 36.3% increase in marketing investment.

The company also achieved a record market share in Chinese infant formula in mother and baby stores and domestic online, with English label infant formula market share in cross-border e-commerce (CBEC) increasing in the second half of FY22. A2 Milk also said that it achieved record market shares in Australia and the USA milk division.

A2 Milk said there was a “deliberate shift” of English label infant formula to more “transparent, performance-based and exclusive partners”. This shift is “progressing well”, with “significantly improved share of voice in the daigou channel”.

A2 Milk managing director and CEO and David Bortolussi said:

We remain committed to the daigou channel and have increased our direct engagement and marketing support with more daigou supporting the brand.

The Age reported that Bortolussi also said the slowed rate of decline in the daigou channel was proof it was “turning a corner”, and he “absolutely” wanted the channel to bounce back to its better days like before COVID-19 hit. He also said:

The daigou channel, through one-to-one word of mouth recommendation, is a really powerful form of new user recruitment and communicating our brand messaging through the market more generally. So, it’s a really important and effective channel we want to support.

A2 Milk also said that within its English label infant formula channels, it has seen a mix shift from daigou to CBEC and offline to online (O2O).

However, the company acknowledged that it lost market share in the daigou channel during the year, but the rate of decline slowed during the second half after a change of distribution markets.

Kantar data indicated that consumer sales in the daigou channel were down 17% in FY22 and that the company’s daigou market share declined to 18.7% at the end of June 2022.

Outlook

The A2 Milk share price can be impacted by what investors are expecting from the company.

Management said that China label infant formula sales are expected to be up in FY23, with “significant growth” in sales in the first half of FY23. At this stage, sales in the second half of FY23 are expected to be “impacted” by the transition to the company’s new pending GB registration.

English label infant formula sales are expected to be “up” in FY23, with FY23 first-half sales expected to be “broadly in line” with the second half of FY22 due to the impact of managing the transition to the refreshed a2 Platinum range.

Overall, the company is expecting high single-digit revenue growth in FY23. It’s expecting earnings before interest, tax, depreciation and amortisation (EBITDA) growth in FY23, with a “modest” improvement in the EBITDA margin, despite increasing its marketing spending.

A2 Milk share price snapshot

Despite the big rise over the last two days (it’s currently up another 4.17% today to $5.63), the A2 Milk share price is virtually flat over the last six months.

The post Are A2 Milk shares ‘turning a corner’ on the daigou debacle? appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended A2 Milk. 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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ASX tech shares are broadly enjoying a good run today.

While the All Ordinaries Index (ASX: XAO) is up a respectable 0.64% in mid-afternoon trading, the S&P/ASX All Technology Index (ASX: XTX) has gained more than twice that much, up 1.4%.

But that’s chicken feed compared to the 96% gain posted by human imaging company Advanced Human Imaging Ltd (ASX: AHI).

The ASX tech share leapt higher on open and kept marching to 24.5 cents until entering a trading halt this afternoon.

In an announcement to the ASX, Advanced Human Imaging said: “The Company requests a trading halt immediately, in response to the ASX pricing letter dated 30 August 2022 and pending the release of an announcement in relation to a material acquisition.”

What’s spurring investor interest?

The Advanced Human Imaging share price closed flat at 12.5 cents yesterday after releasing a non-price sensitive announcement before market open.

The ASX tech share updated the market on the completion of its Master Services Agreement (MSA) with Estonia-based digital health provider Activate Health OÜ.

According to the release, Activate Health has built the world’s first AI-driven digital therapeutics platform for metabolic syndrome. Their technology has now been integrated with Advanced Human Imaging’s MultiScan SDKs to identify early indications of chronic disease risk.

The company said Activate Health will purchase a block of 4,000 of its FaceScans and a block of 4,000 BodyScans for €22,960 (AU$33,330).

Commenting on the MSA, strategy lead of Advanced Human Imaging Vlado Bosanac said:

The combination of the AHI solution will provide a far deeper insight of the users within the Activate digital therapeutics platform. The AHI solution will empower the Activate platform with the ability to identify chronic disease risk, for the early intervention, allowing Activate to intervene and assist their consumers with better health outcomes.

We are delighted to be involved with such an innovative company, based in the world’s leading digital health community, and look forward to making a positive impact on Europeans’ longevity of life, health and wellbeing.

In yesterday’s release, the ASX tech share noted that its AHI solution will launch in the Netherlands “in the coming weeks” with an update to “be provided once the product is launched by Activate”.

How has this ASX tech share been performing?

Despite its gains today, the Advanced Human Imaging share price remains down 73% year to date. Over the past 12 months, the ASX tech share is down an even more painful 82%.

Though you’re unlikely to hear investors who snapped up shares yesterday complaining.

The post ASX tech share Advanced Human Imaging share price frozen after rocketing 96% appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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