The Pilbara Minerals Ltd (ASX: PLS) share price has been at the forefront of investor attention this month.

Despite travelling 3.46% higher to $2.69 yesterday, the company’s shares have plummeted in recent times. In fact, for the month of April, its shares are down 17%.

Below, we take a look at what Michelle Lopez, head of Australian equities at Aberdeen Standard Investments had to say.

Are Pilbara Minerals shares too expensive?

When the Pilbara Minerals share price continued to power ahead in early 2022, there was a consensus among investors that it could be overvalued.

As Ms Lopez explains, a few weeks ago she would have agreed with the above notion. However, after taking a step back while the company’s shares cooled off this month, her view has changed.

Ms Lopez noted that the market is “constructive on lithium on a medium-longer term view because of the structural demand drivers”.

With less than 10% of electric vehicle penetration, the current battery production run rate to meet production could be insufficient. This is because “inventory remains tight across the supply chain”, Ms Lopez said.

Nonetheless, lithium is available almost anywhere in the world and there are a number of companies developing their lithium projects.

Although it is worth remembering it is a slow process to build a lithium and bring it up to production. On average it takes around 4 to 7 years from concept to production. This includes engineering and regulatory approvals, project evaluation and feasibility studies, as well as construction of new production plant.

Given that it isn’t easy, Ms Lopez believes that lithium demand will outstrip supply over the investment period.

Therefore, she rates Pilbara Minerals shares as not overvalued.

In particular, Ms Lopez stated she was attracted to the company’s asset position being low on the cost curve.

In addition, Pilbara Minerals can grow production organically with its wholly-owned Pilgangoora Lithium-Tantalum Project in Western Australia.

Furthermore, Ms Lopez commented that in light of the recent volatility, she has been topping up when valuations are attractive.

About the Pilbara Minerals share price

Regardless of its recent declines, the Pilbara Minerals share price has accelerated by 130% in the past 12 months.

The company’s shares reached an all-time high of $3.89 in mid-January before sharply pulling back to December 2021 levels.

On valuation grounds, Pilbara Minerals presides a market capitalisation of roughly $8.01 billion.

The post Despite dropping 17% in April, is the Pilbara Minerals share price still overvalued? appeared first on The Motley Fool Australia.

More reading

• Why Cettire, Newcrest, Silver Lake, and Whispir shares are tumbling lower
• Why AMP, Fortescue, Pilbara Minerals, and Sandfire shares are racing higher
• ASX 200 midday update: Coles, Fortescue, and Pilbara Minerals release quarterly updates
• Pilbara Minerals share price climbs as lithium prices surge
• Here are the 3 most heavily traded ASX 200 shares on Wednesday

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 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 S&P/ASX 200 Index (ASX: XJO) mining sector completed Thursday’s session with its biggest, single-day gain in five weeks.

Australian miners were benefitting as commodity prices rebounded. According to NABTrade, “Chinese iron ore and steel futures rose on Wednesday after falling for two consecutive days, as concerns stoked by the COVID-19 outbreak eased.”

As such, it was a day well in the green for the sector.

Gains for the ASX 200 mining sector

The BHP Group Ltd (ASX: BHP) share price finished the day up by a substantial 4.37%. It regained some of the ground lost after the company last week reported its quarterly update for the three months to 31 March 2022.

In the update, BHP said its iron ore production was down 10% quarter on quarter. The company also reduced its FY22 production guidance for both nickel and copper.

The Fortescue Metals Group Limited (ASX: FMG) share price also soared higher on Thursday, up by 8.11%. This came after Fortescue reported its quarterly update for the three months to 31 March 2022.

Fortescue said that the amount of ore shipped was 46.5mt, which was a 10% increase compared to the third quarter of FY21. The miner said it achieved record shipments for the nine months to 31 March 2022 of 139.5mt.

Its average revenue was US$100 per dry metric tonne (dmt), representing revenue realisation of 70% of the Platts CFR Index for the quarter. This was a slight increase from 68% in the second quarter of FY22.

However, Fortescue did increase the capital estimate for the project to US$3.6 billion – US$3.8 billion, up from the previous guidance of between US$3.3 billion and US$3.5 billion.

The Rio Tinto Limited (ASX: RIO) share price also climbed yesterday, up by 3.52%.

The big three iron ore miners weren’t the only ones that saw gains on Thursday.

Following the release of a quarterly report, the Sandfire Resources Ltd (ASX: SFR) share price gained almost 12%. The company generated $343 million of sales revenue and $186.9 million of earnings before interest, tax, depreciation and amortisation (EBITDA).

Sandfire said it’s delivering growth in high-margin production. The ASX 200 miner also advised that production guidance was strengthened, though operating cost guidance also increased.

Other mining gains

Some other notable gains on the ASX 200 also came from mining shares on Thursday:

The OZ Minerals Ltd (ASX: OZL) share price leapt 6.92%.

The Whitehaven Coal Ltd (ASX: WHC) share price climbed 6.9%.

The Iluka Resources Ltd (ASX: ILU) share price gained 6.15%.

Nickel Mines Ltd (ASX: NIC) shares jumped 6.06%.

Mineral Resources Ltd (ASX: MIN) shares gained 4.79%.

The New Hope Corporation Ltd (ASX: NHC) share price increased by 4.55%.

Yancoal Australia Ltd (ASX: YAL) shares climbed 3.96%.

What’s next?

ASX shares look set to end the week with another positive day on Friday after a stellar session on Wall Street overnight. Over in the US, the Dow rose 1.85% and the S&P 500 jumped 2.5%. Meanwhile, the tech-heavy Nasdaq leapt by just over 3%.

So, whilst it’s shaping up to be a good day for investors, ASX 200 mining shares could be forced to take a back seat to the tech sector on Friday.

The post ASX 200 mining shares just had their best trading day in 5 weeks. What’s next? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX shares today
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why AMP, Fortescue, Pilbara Minerals, and Sandfire shares are racing higher
• Why is the Rio Tinto share price rebounding strongly on Thursday?

Motley Fool contributor Tristan Harrison has positions in Fortescue Metals Group 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 Bruce Jackson.

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If you’re looking for dividends shares with great yields, then you may want to look at the ones listed below.

Here’s why analysts rate these dividend shares as buys:

Charter Hall Long WALE REIT (ASX: CLW)

The first ASX dividend share that could be a buy is the Charter Hall Long Wale REIT.

It manages a wide range of listed and unlisted property funds for institutional and retail investors with a focus on office, industrial, and retail sectors. This includes 78 hotel properties across the five mainland states leased to ALH Group that were acquired from ALE Property with Hostplus for ~$1.7 billion recently.

The team at Citi is very positive on the Charter Hall Long Wale REIT. Its analysts currently have a buy rating and $5.71 price target on its shares.

As for dividends, the broker is forecasting dividends per share of 30.8 cents in FY 2022 and 30.9 cents in FY 2023. Based on the current Charter Hall Long Wale REIT share price of $5.34, this will mean yields of ~5.8%.

Telstra Corporation Ltd (ASX: TLS)

Another dividend share that could be in the buy zone is telco giant Telstra.

It returned to underlying earnings growth for the first time in years during the first half of FY 2022 thanks to the success of its T22 strategy.

But Telstra isn’t settling for this. It will shortly commence its T25 strategy, which has been designed to deliver solid and sustainable earnings growth over the coming years.

This has gone down well with the team at Morgans, which has put an add rating and $4.56 price target on the company’s shares.

In addition, the broker continues to forecast fully franked dividends per share of 16 cents in FY 2022 and FY 2023. Which, based on the current Telstra share price of $3.97, will mean attractive yields of 4% for investors.

The post Analysts name 2 ASX dividend shares with great yields to buy now appeared first on The Motley Fool Australia.

More reading

• What’s dragging the Telstra share price lower today?
• Down 5% in 2022, is the Telstra share price a buy today?
• Own the Vanguard Australian Shares High Yield ETF? Here’s what you’re invested in
• Can Telstra shares deliver an attractive dividend yield AND 13% upside in 2022?
• Analysts name 2 top ASX 200 dividend shares to buy

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 positions in and has recommended Telstra Corporation 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 ResMed Inc (ASX: RMD) share price will be one to watch on Friday.

This follows the release of the sleep treatment focused medical device company’s third quarter update.

ResMed share price on watch after earnings miss

• Revenue up 12% (14% in constant currency) to US$864.5 million
• Gross margin down 150 basis points to 58.1%
• Operating income up 5% to US$234.3 million
• Earnings per share up 2% to US$1.32

What happened during the quarter?

For the three months ended 31 March, ResMed reported a 12% increase in revenue to US$864.5 million and a 2% lift in earnings per share to US$1.32. This fell short of consensus estimates by US$35.5 million and 12 US cents, respectively.

According to the release, ResMed’s top line growth was driven by increased demand for its sleep and respiratory care devices and increased demand in response to a recent product recall by one of its competitors.

Revenue in the U.S., Canada, and Latin America, excluding software-as-a-service, grew by 18% during the quarter. It was a similar story overseas, with the company reporting an 11% increase in revenue in Europe, Asia, and other markets.

ResMed’s software-as-a-service revenue increased by 8% during the three months. This was due to continued growth in its Durable Medical Equipment category and stabilising patient flow in out-of-hospital care settings.

However, offsetting much of this top line growth was a 150 basis point contraction in ResMed’s gross margin. This was mainly due to higher freight and manufacturing costs, which were partially offset by favourable product mix changes and increase in average selling prices.

In addition, the company’s operating expenses grew quicker than revenue during the period. This was mainly due to higher employee-related expenses. This ultimately led to operating income rising just 5% and earnings per share increasing a modest 2% for the period.

Management commentary

ResMed’s CEO, Mick Farrell, commented:

“Our third-quarter results reflect strong performance across our business, resulting in double-digit top-line revenue growth including extraordinary demand in our sleep and respiratory care business segment as well as solid high-single-digit growth in our software-as-a-service segment.

“I am proud of our global team’s ability to pivot and drive continued growth while ongoing supply chain disruptions and a competitor’s recall continue to limit our ability to meet the incredible demand for our products. We remain focused on delivering products, software, and services for patients, working closely with our supply chain partners as well as physicians, providers, and beyond, to prioritize care for patients who most need it.

“While the current industry and macroeconomic environment remain uncertain, our long-term strategy allows us to keep our focus on helping 250 million lives in 2025. Our end-market demand from patients and providers remains strong, and our digital health technologies continue to deliver value. We are supporting patients with the world-leading portfolio of sleep apnea therapy, respiratory care therapy, and digital health solutions they need, as we deliver value for all of our customers.”

The post ResMed share price on watch after Q3 revenue and earnings miss appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Friday
• Analysts name 2 ASX 200 healthcare shares to buy
• 3 fantastic ASX growth shares with major upside potential
• Top brokers name 3 ASX shares to buy next week
• 2 blue chip ASX 200 shares analysts rate as buys this month

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 recommended ResMed. The Motley Fool Australia has recommended ResMed Inc. 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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On Thursday, the S&P/ASX 200 Index (ASX: XJO) returned to form and raced higher. The benchmark index rose 1.3% to 7,356.9 points.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to rise

The Australian share market looks set to end the week on a positive note following a very strong night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 45 points or 0.6% higher this morning. In the US, the Dow Jones rose 1.85%, the S&P 500 climbed 2.5%, and the Nasdaq stormed 3.1% higher.

Oil prices race higher

Energy producers including Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a great finish to the week after oil prices raced higher. According to Bloomberg, the WTI crude oil price is up 3.2% to US$105.32 a barrel and the Brent crude oil price is up 2.1% to US$107.56 a barrel.

ResMed quarterly update

The ResMed Inc (ASX: RMD) share price will be one to watch on Friday following the release of the sleep treatment company’s quarterly update. ResMed reported a 12% increase in revenue to US$864.5 million and a 5% lift in operating income to US$234.3 million. The latter was impacted by a 150 basis point contraction in its gross margin due to higher freight and manufacturing costs.

Gold price rises

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a decent finish to the week after the gold price pushed higher. According to CNBC, the spot gold price is up 0.4% to US$1,896.4 an ounce. The precious metal bounced back after hitting a two month low yesterday.

Fortescue rated as a sell

The Fortescue Metals Group Limited (ASX: FMG) share price could be heading lower according to analysts at Goldman Sachs. This morning the broker responded to the mining giant’s quarterly update by retaining its sell rating and cutting its price target to $14.90. Goldman continues to believe that its shares are overvalued compared to peers and sees major risks from the Fortescue Future Industries business.

The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.

More reading

• Analysts name 2 ASX 200 healthcare shares to buy
• Here are the top 10 ASX shares today
• Here’s why the St Barbara share price is trailing the ASX 200 today
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why is the Woodside share price in the spotlight on Thursday?

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 recommended ResMed. The Motley Fool Australia has recommended ResMed Inc. 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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There are a lot of exchange traded funds (ETFs) funds out there for investors to choose from.

If you’re looking at long term options, then you may want to look deeper into the three listed below. Here’s what you need to know about them:

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

Although Chinese technology shares have had a very tough year, which has weighed heavily on the BetaShares Asia Technology Tigers ETF, this could prove to be a very attractive buying opportunity for long term investors. Especially given the high quality companies included in this ETF. These include the likes of Alibaba, Baidu, JD.com, and Tencent, which are all exposed to Asia’s growing middle class.

BetaShares Crypto Innovators ETF (ASX: CRYP)

Another exciting ETF that could be a top long term option for investors is the BetaShares Crypto Innovators ETF. Whether you like cryptocurrencies or not, it is a trillion dollar industry and is unlikely to be going away in the future. This means that the companies supporting the industry, such as miners, mining equipment firms, and trading platforms, could be well-placed for growth over the long term. This ETF gives investors exposure to these companies (Coinbase, Silvergate, and Riot Blockchain etc) through a single investment. And while investing in these companies collectively may be lower risk than buying coins, it is still a high risk investment option.

BetaShares Global Cybersecurity ETF (ASX: HACK)

A final exciting ETF for investors to consider as a long term option is the BetaShares Global Cybersecurity ETF. BetaShares notes that worldwide spending on cybersecurity is predicted to increase to almost US$250 billion by 2023. This leaves the companies included in this fund, which are working to reduce the impact of cybercrime globally, well-positioned for growth in the future. These companies include leaders such as Accenture, Cisco, and Cloudflare, Crowdstrike, Okta, and Palo Alto Networks.

The post 3 top ETFs for ASX investors to buy and hold for 10 years appeared first on The Motley Fool Australia.

More reading

• The Betashares Crypto Innovators ETF has dumped 23% in a month. Is it now a bargain?
• Are these 2 ASX tech shares top ideas for May 2022?
• Analyst names 2 top ETFs ASX investors should buy
• 2 exciting ETFs for ASX investors this month
• 3 high quality ETFs for ASX investors to buy today

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 positions in and has recommended BETA CYBER ETF UNITS and Betashares Crypto Innovators ETF. The Motley Fool Australia has positions in and has recommended BETA CYBER ETF UNITS. The Motley Fool Australia has recommended BetaShares Asia Technology Tigers ETF. 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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ASX coal shares finished ahead today amid India reportedly planning to step up coal imports.

Three major ASX coal shares include Whitehaven Coal Ltd (ASX: WHC), Yancoal Australia Ltd (ASX: YAL) and New Hope Corporation Limited (ASX: NHC).

The Whitehaven share price surged 6.9% today, Yancoal leapt 3.96% and New Hope rocketed 4.55%.

Let’s take a look at what weighed on ASX coal shares today.

Indian to import more coal

The Indian power minister has asked states to boost coal imports, Reuters reported. India is the next biggest coal exporter in the world after China. The country has 28 states and 8 union territories.

India wants to increase coal imports to boost coal inventories and meet demand for the commodity.

An official who attended a meeting between Indian power minister Raj Kumar Singh and the states told Reuters:

The states were asked to continue importing because the private sector will take till at least early 2025 to produce significant output

The coal price climbed 0.32% in global markets to US$326.05 per tonne, Trading Economics data shows. Amid the Russian sanctions on coal, some top consumers are looking to buy more from countries including Australia and South Africa.

Whitehaven recorded a record average coal price of $315 per tonne in the third quarter, up 211% from $101 in the prior corresponding period.

Share price summary

The Whitehaven share price has surged 304.9% in a year, while Yancoal has risen 156%. Meanwhile, New Hope shares have rocketed 200%.

In contrast, the S&P/ASX 200 Index (ASX: XJO) has increased 4.14% in the past year.

The post Why did ASX coal shares having such a stellar run on Thursday? appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• How might the election outcome impact the outlook for ASX energy shares?
• Why is the Whitehaven share price accelerating 6% today
• Own ASX 200 energy shares? Here’s why Morgan Stanley says the oil price is set to surge
• Why are some ASX coal shares flaming out today?

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 Bruce Jackson.

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If you’re looking for exposure to the healthcare sector, then you may want to check out the two buy-rated shares listed below.

Here’s why analysts rate these ASX 200 healthcare shares as buys:

Pro Medicus Limited (ASX: PME)

The first ASX 200 healthcare share that is highly rated is Pro Medicus. It is a healthcare technology company that provides industry-leading software that facilitates the clinical assessment of medical images.

The team at Bell Potter is very positive on Pro Medicus due largely to its Visage 7 product.

It commented: “Visage 7 is the fastest, most versatile viewing software on the market and it is the key reason why Pro Medicus has been successful in winning numerous high profile hospital contracts in the US, ahead of some of the largest global names in the industry.”

And while the broker acknowledges that its shares remain “expensive”, it believes the company’s “prospective EPS growth is supportive of this large premium.” Particularly given how it has “barely scratched the surface of the IDN [Integrated Delivery Network] market in the US.”

Bell Potter currently has a buy rating and $55.00 price target on the company’s shares.

ResMed Inc. (ASX: RMD)

Another ASX 200 healthcare share that is highly rated is ResMed. It is a sleep treatment focused medical device company with a portfolio of cloud-connected products that transform care for people with sleep apnea, COPD, and other chronic diseases.

Analysts at Morgans are very positive on the company. They currently have an add rating and $40.46 price target on its shares.

Morgans commented: “While we believe the next few quarters will likely be volatile, as Covid-related demand for ventilators continues to slow and core sleep apnoea volumes gradually lift, nothing changes our medium/longer term view that the company remains well-placed as it builds a unique, patient-centric, connected-care digital platform that addresses the main pinch points across the healthcare value chain.”

The post Analysts name 2 ASX 200 healthcare shares to buy appeared first on The Motley Fool Australia.

More reading

• 3 fantastic ASX growth shares with major upside potential
• Here are the top 10 ASX shares today
• It’s time to buy these 2 fallen ASX shares again: expert
• Top brokers name 3 ASX shares to sell next week
• Top brokers name 3 ASX shares to buy next week

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. owns and has recommended Cochlear Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has recommended Cochlear Ltd. and ResMed Inc. 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 All Ordinaries Index (ASX: XAO) recovered from a disastrous 4-session, 4.3% tumble today, recording its first gain of the week with the help of these shares.

They each gained more than 10% today. Impressively, some have managed to chalk up the upwards move without uttering a single word of news.

The All Ordinaries Index gained 1.15% today.

Let’s take a look at what boosted these 3 stocks more than 10% higher.

3 ASX All Ordinaries shares recording massive gains

Stanmore Resources Ltd (ASX: SMR)

The Stanmore Resources share price recorded an 11.88% gain to close at $2.26 on Thursday. In fact, at its highest point, the coal miner’s shares were trading 16.3% higher than their previous close.

Interestingly, there’s been no news from the energy stock today. On top of that, the S&P/ASX 200 Energy Index (ASX: XEJ) recorded a modest rise of just 0.92%.

Though, its best performer was the Whitehaven Coal Ltd (ASX: WHC) share price.

Other coal producing shares, Yancoal Australia Ltd (ASX: YAL) and New Hope Corporation Limited (ASX: NHC) also recorded notable gains of between 4% and 6%.

The sector’s buoyancy on Thursday might have been due to reporting by Reuters. According to the publication, India has urged its states to increase coal imports in a bid to boost inventories.

The move would likely see already inflated coal prices increase further. That would likely be good news to coal producers’ bottom lines.

City Chic Collective Ltd (ASX: CCX)

Another ASX All Ordinaries share to silently record a gain of more than 10% on Thursday is City Chic.

The clothing retailer’s stock surged 10.22% to close at $3.02. The stock also soared 5.38% on Wednesday on the release of a positive trading update.

Over the 17 weeks between 27 December and 24 April, the company’s total sales increased 25% year-on-year.

AMP Ltd (ASX: AMP)

Finally, All Ordinaries giant, AMP, saw its share price rocket 12.68% on Thursday to $1.16 on the back of more divestment news.

The embattled financial services company announced that it’s found a buyer for the final leg of its Collimate Capital business.

DigitalBridge has agreed to pay up to $699 million for the international infrastructure equity business, $462 million of which will come in the form of an upfront cash payment to AMP.

The news came just a day after AMP announced that it was selling Collimate’s real estate and domestic infrastructure business to Dexus Property Group (ASX: DXS).

AMP is planning to use the funds from the sales to pay off its debt and conduct a capital return.

The post 3 ASX All Ordinaries shares that soared more than 10% today appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why AMP, Fortescue, Pilbara Minerals, and Sandfire shares are racing higher
• AMP share price surges 11% as $699m Collimate deal confirmed
• ASX 200 midday update: Coles, Fortescue, and Pilbara Minerals release quarterly updates

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 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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There’s no doubt that the technology sector has been battered and bruised in recent times. This has led to former market darling ASX tech shares falling from their highs, with many now trading at multi-year lows.

Today, two companies with cashed-up balance sheets and sizeable revenue growth are cementing new lows. While low share prices alone are not a reason to buy, it can be a good prompt to take another look and reassess.

In saying that, here are a couple of ASX tech shares pushing lower again on Thursday.

These 2 ASX tech shares can’t catch a break

PointsBet Holdings Ltd (ASX: PBH)

This online bookmaker’s year just got even worse today, as the PointsBet share price moved another 1.3% lower. The disappointing outcome for shareholders means their holdings have diminished in value by 62% since the start of 2022.

Interestingly, the continued sell-off has played out as the company approaches the release of its third-quarter update tomorrow. No doubt investors will be looking to see whether this ASX tech share has turned around its rampant cash burning, or not.

Tyro Payments Ltd (ASX: TYR)

Payment solutions and point of sales terminal provider, Tyro Payments is another company losing some more of its fanfare today. By the closing bell, the Tyro share price finished up 5.3% lower to $1.17 — its lowest level since listing in 2019.

The pain for this ASX tech share has stayed with it throughout 2022, despite the company’s revenue bouncing back from COVID-19 pressures. In fact, the most recent trading update shows transaction value increasing 42% in April compared to 2021.

The post 2 quality ASX 300 tech shares trading at multi-year lows appeared first on The Motley Fool Australia.

More reading

• The Pointsbet share price is tumbling 7% on Wednesday. What’s going on?
• Here’s why the PointsBet share price is charging higher today
• PointsBet share price sinks despite positive news
• Why A2 Milk, Ionic Rare Earths, Pilbara Minerals, and Tyro shares are dropping
• ASX 200 midday update: IGO increases Western Areas offer, BlueScope makes US acquisition

Motley Fool contributor Mitchell Lawler 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 Pointsbet Holdings Ltd and Tyro Payments. The Motley Fool Australia has recommended Pointsbet Holdings Ltd and Tyro Payments. 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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