Looking for investment ideas for March? Listed below are two high quality options to consider right now.

Here’s what you need to know about these ASX shares:

REA Group Limited (ASX: REA)

The first ASX share to consider is property listings company REA Group. It is best-known for the realestate.com.au website, which has been dominating the ANZ market for years.

This domination continued in FY 2021, with the company recording an average of 121.9 million monthly visits to its website. This was up 35% year on year and was 3.3 times greater than its nearest competitor. Pleasingly, this strong form has continued in FY 2022, with REA once again reporting 3.3 times more visits than its nearest rival. This includes a record 13.2 million people visiting its local site in October.

In light of this dominance, the strength of the housing market, and new acquisitions and revenue streams, REA Group has been tipped to continue its growth in the coming years by the team at Goldman Sachs. Its analysts recently put a buy rating and $167.00 price target on the company’s shares.

TechnologyOne Ltd (ASX: TNE)

Another ASX share to look at is TechnologyOne. It is Australia’s largest enterprise software company, providing a global software as a service (SaaS) ERP solution that transforms business and makes life simple for its customers. At the last count, there were well over 1,000+ leading corporations, government agencies, local councils and universities being powered by its software.

This has underpinned strong recurring revenue growth, which is expected to continue in the coming years. For example, management is targeting annual recurring revenue (ARR) of over $500 million by FY 2026. This is almost double its current base ARR of $257.5 million.

Pleasingly, management appears confident it will achieve this target. It commented: “Our SaaS business continues to grow quickly. The quality of this revenue stream is exceptionally high, given its recurring contractual nature, combined with our very low churn rate of ~1%.”

“With our fast-growing SaaS business and the announcement of the end of our On-Premise business, we are on track to hit our target of $500m+ ARR by FY26.”

Bell Potter is a fan and has a buy rating and $15.00 price target on its shares.

The post 2 highly rated ASX shares analysts are tipping as buys appeared first on The Motley Fool Australia.

More reading

• 52-week low: Broker says the REA (ASX:REA) share price has 30% upside
• Broker names the 3 best ASX tech shares to buy today
• 5 ASX 200 shares slipping to 52-week lows today
• Are these 2 ASX tech shares good buys in March?
• Why this top broker rates these ASX shares as buys in March

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 REA Group Limited. 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 Nickel Mines Ltd (ASX: NIC) share price closed almost 4% higher today ahead of the restart in nickel trading on the London Metal Exchange.

Nickel Mines shares finished the day at $1.20, a 3.9% gain. For perspective, the S&P/ASX 200 Index (ASX: XJO) closed 1.1% higher today.

Let’s take a look at what is happening at Nickel Mines.

All eyes on the London Metal Exchange

The Nickel Mines share price made a healthy gain ahead of the resumption of nickel trading on the London Metal Exchange (LME). Trading of the metal will recommence at 8am London time on 16 March. This is three hours after the ASX closes.

The reopening in London comes after the LME suspended nickel trading last week amid nickel prices hitting record highs above US$100,000 a tonne.

Nickel Mines was not the only ASX nickel share to jump today. Panoramic Resources (ASX: PAN) leapt 3.36% while IGO Ltd (ASX: IGO) and Mincor Resources (ASX: MCR) both climbed 1%.

Nickel Mines was one of the top three most traded ASX 200 shares by volume on Wednesday, as my Foolish colleague Sebastian reported.

Earlier this week, Nickel Mines reported the Oracle Nickel Project in Indonesia had been granted corporate tax relief. Nickel Mines hopes to complete its 70% stake in the project by the end of the year.

Last week, Nickel Mines dealt with media speculation about a short position in LME nickel held by the Tisinghan group. Tsingshan informed the company it had no intention of buying or selling any Nickel Mines shares. Yesterday, Tsingshan reached a standstill agreement with its banks to avoid further margin calls, according to reporting by Bloomberg.

Earlier, Nickel Mines also withdrew a share purchase plan after receiving applications totalling $57 million. The company had been aiming to raise $18 million.

Nickel mines share price snapshot

The Nickel Mines share price has dropped almost 18% in the past year, falling 16% year to date.

In the past week alone, the company’s shares have shed around 19%.

For perspective, the benchmark index has returned around 5% over the past year.

The post Why did the Nickel Mines share price rebound today? appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are topping the volume charts on Wednesday
• GameStop 2.0? What you need to know about the nickel short squeeze and how it’s impacting ASX shares
• Here are the 3 most heavily traded ASX 200 shares this Tuesday
• These 3 ASX 200 shares are topping the volume charts on Monday
• Why Nickel Mines, Paladin Energy, Tassal, and Westgold shares are dropping

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 Telstra Corporation Ltd (ASX: TLS) share price has climbed nearly 3% since market close on Friday. Meanwhile, the telco has commenced a major upgrade to its national fibre network.

Telstra shares gained 1% on Wednesday. For perspective, the S&P/ASX 200 Communication Services Index (ASX: XTJ) jumped 1.8% today.

Let’s take a look at what is happening at Telstra.

Fibre build commences

Telstra has started work on a revamp of its national fibre network. The aim is to improve the size, reach and bandwidth of the network.

On Tuesday, the company began construction in Western Australia between Bakers Hill and Northam. Orange in New South Wales will be the next construction destination.

The project will add 20,000 new route kilometres to Telstra’s existing network and deliver transmission rates of more than 650 gbps (gigabits per second). This is six times more than the standard rate of 100gbps. The network has dual cables on each fibre route.

Telstra InfraCo chief executive Brendon Riley commented on the upgrade:

It’s a significant step toward the fibre network Australia deserves. It’s the fibre network that will power everything from small businesses selling to their local neighbourhood, through to cutting-edge Australian innovators creating their businesses in the metaverse.

It forms part of our ambitious T25 transformation goal for InfraCo, to deliver profitable growth and value by improving access, utilisation and scale of our infrastructure.

On Monday, speculation emerged Telstra may be considering buying a 51% stake in Fetch TV. The idea is to potentially “compete with Apple and Google”.

Telstra has recently been rated as an add by Morgans with a $4.56 price target, my Foolish colleague James reported on Sunday.

Telstra share price recap

The Telstra share price is up 26.6% over the past 12 months, but shares in the telco have dropped 5.5% year to date.

For perspective, the S&P/ASX 200 Communication Services Index (ASX: XTJ) has returned 14% in a year.

Telstra has a market capitalisation of more than $46 billion based on its current share price.

The post ‘Significant step’: What’s boosting the Telstra share price this week? appeared first on The Motley Fool Australia.

More reading

• Telstra (ASX:TLS) share price climbs amid rumours the telco plans to take on US giants
• 2 buy-rated ASX 200 dividend shares with top yields
• These 3 ASX 200 shares are topping the volume charts this Friday
• Why was everyone talking about the Telstra (ASX:TLS) share price today?
• Own Telstra shares? Here’s why the telco faces new legal action

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns 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 Bruce Jackson.

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The Macquarie Group Ltd (ASX: MQG) share price has rocketed over the past decade, up almost 600%. In comparison, the S&P/ASX 200 Index (ASX: XJO) is up around 68% over the same timeframe.

During January 2022, Macquarie shares reached an all-time high of $217.32 before freefalling thereafter. While the bank’s shares have somewhat recovered, they are still some way off moving again into uncharted territory.

Nonetheless, let’s wind the clock back and see how much an investor would have made if they had invested $10,000 in Macquarie shares a decade ago.

How much would your initial investment be worth now?

If you spent $10,000 on Macquarie shares exactly 10 years ago, you would have picked them up for $27.07 apiece. The purchase would deliver approximately 369 shares without reinvesting the dividends.

Looking at today’s closing price, the Macquarie share price finished at $189.44. This means those 369 shares would be worth $69,903.36 (369 shares x $189.44).

In percentage terms, the initial investment implies a yearly average return of 21.46%. Comparing that to the ASX 200, the benchmark index has given back 5.19% over a 10-year period.

And the dividends?

Over the course of the last decade, Macquarie has made a total of 20 dividend payments from 2012 to 2022. Its most recent dividend distributions were significantly reduced due to the pandemic severely affecting its operations and bottom line.

Adding those 20 dividend payments gives us an amount of $40.07 per share. Calculating the number of shares owned against the total dividend payment gives us a figure of $14,785.83 (369 shares x 40.07).

When putting both the initial investment gains and dividend distribution, an investor would have made $84,689.19.

Macquarie share price snapshot

Over the past 12 months, the Macquarie share price has travelled 25% higher but is down almost 8% year to date.

Macquarie presides a market capitalisation of roughly $72.6 billion and has more than 383 million shares on its registry.

The post If you invested $10,000 in Macquarie (ASX:MQG) shares a decade ago, here’s what it would be worth now appeared first on The Motley Fool Australia.

More reading

• Is the CSL share price heading back over $300 in 2022?
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• ASX 200 (ASX:XJO) midday update: Magellan jumps on buyback news, travel shares take off
• Why I closed my shares fund then launched a digital assets fund
• 5 things to watch on the ASX 200 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 recommended Macquarie Group Limited. 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 dividend shares are able to pay investors a higher level of income than some other types of assets.

Businesses can choose to pay out a high level of their profit or cash flow each year to shareholders. When combined with capital growth, it can lead to pleasing total returns.

But a company isn’t necessarily worth buying just because it pays a dividend. Analysts have rated these ASX dividend shares as a buy, with expectations of sizeable future dividends:

Adairs Ltd (ASX: ADH)

Adairs is a retail ASX share that runs three different businesses – Adairs, Mocka and Focus on Furniture.

Since the start of 2022, the Adairs share price has sunk 30%. However, the decline of a valuation can have the benefit of an increasing potential dividend yield.

The broker Morgans currently rates Adairs as a buy, with a price target of $3.50. That’s more than 20% higher than where it is today.

How big could the dividends be? Morgans is expecting a grossed-up dividend yield of 9.6% in FY22 and a grossed-up dividend yield of 13.2% in FY23. Profit is expected to bounce back in FY23 after the COVID-19 lockdowns during the first half of FY22.

Adairs plans to grow future profit in several ways. It is going to upsize some of its stores, which are materially more profitable than smaller stores. Adairs wants to add more stores to its network, particularly with the newly acquired Focus on Furniture.

The ASX dividend share also wants to save costs and fulfil more online orders with its new national distribution centre. This new distribution centre is expected to save more than $3 million of annual expenses.

Morgans’ forecasts suggest that the Adairs share price is valued at 7x FY23’s estimated earnings.

JB Hi-Fi Limited (ASX: JBH)

Despite all of the volatility in 2022, the JB Hi-Fi share price has actually gone up this year. But only just, with a rise of 1.3%.

Morgans also thinks that JB Hi-Fi is a buy, with a price target of $57. That suggests a possible rise of 15% over the coming year, if the broker’s prediction comes true.

The broker was impressed by JB Hi-Fi’s half-year result, with profitability stronger than expected. Morgans thinks the ASX dividend share is a very capable business with good competitive advantages.

For readers that missed the interim result last month, total sales fell 1.6% to $4.86 billion and net profit after tax (NPAT) dropped 9.4% to $287.9 million. The interim dividend was reduced by 9.4% to $1.63 per share. JB Hi-Fi also announced a capital return of up to $250 million through an off-market buyback.

The retailer reported that in January 2022 it continued to see heightened demand. Compared to January 2021, JB Hi-Fi Australia sales were up 3.6% and The Good Guys sales increased 1.9%.

In terms of the expected dividend payouts, Morgans has estimated a grossed-up dividend yield of 7.5% for FY22 and 6.9% in FY23.

The post 2 ASX dividend shares rated top buys by brokers appeared first on The Motley Fool Australia.

More reading

• Brokers name 2 excellent ASX dividend shares with big yields to buy
• Broker names 2 high yield ASX dividend shares to buy right now
• Analyst tips 20% upside and 6.5% dividend yield for this ASX share
• 2 ASX dividend with attractive yields that brokers rate as buys
• What’s the outlook for ASX retail shares like Kogan (ASX:KGN)?

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. owns and has recommended ADAIRS FPO. The Motley Fool Australia owns and has recommended ADAIRS FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Looking for some small cap shares to buy? Then have a look at the ones listed below.

Here’s why they could be worth getting better acquainted with:

Airtasker Ltd (ASX: ART)

The first small cap ASX share to consider is Airtasker. It is a growing online marketplace provider for local services that estimates that it has a total addressable market of $600 billion across Australia, the UK, and the US. This sizeable opportunity has caught the eye of the team at Morgans. As has its attractive business model, which the broker highlights works for both sides of the marketplace and has attractive unit dynamics. Morgans also points out that this market is in the early stages of ecommerce adoption, which bodes well for Airtasker’s future growth.

Morgans has an add rating and $1.25 price target on the company’s shares.

PlaySide Studios Limited (ASX: PLY)

Another small cap ASX share to look at is PlaySide Studios. It is one of the largest video game developers in Australia with a growing portfolio of titles. In addition, the company has recently announced work for hire deals with games publishing giants 2K Games and Activision Blizzard. This demonstrates its growing reputation in the industry and could open the door to other deals in the future.

Canaccord Genuity is a fan of PlaySide. It currently has a buy rating and $1.30 price target its shares.

Serko Ltd (ASX: SKO)

A final small cap to look at is this online travel booking and expense management provider. Serko was hit hard by the pandemic but is bouncing back strongly now. And with the company well-funded thanks to a recent capital raising, it can now focus on its global marketplace strategy. This strategy is aiming to transform the company from an online booking tool into a distributed marketplace. This will also be supported by its game-changing deal with Booking.com.

Ord Minnett remains very positive on Serko. Last month it put a buy rating and $7.93 price target on its shares.

The post 3 small cap ASX shares analysts are tipping for big things appeared first on The Motley Fool Australia.

More reading

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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 Serko Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Airtasker Limited. The Motley Fool Australia has recommended Serko Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Aussie Broadband Ltd (ASX: ABB) share price was rangebound on Wednesday, dipping into the red in afternoon trading.

At market close, the Aussie Broadband share price is $5.29, a fall of 0.94% on the day, despite no market-sensitive information coming from the company today.

However, it released an important update after the market closed yesterday. Let’s take a look.

Why up with Aussie Broadband shares today?

In its update, the company referred to an announcement made by Over the Wire Holdings Ltd (ASX: OTW) about the scheme of arrangement between its shareholders and Aussie Broadband.

The arrangement was approved by shareholders on 24 February and by the Federal Court of Australia on 3 March 2022. It was implemented yesterday.

As a result, Aussie Broadband now holds all shares in Over the Wire. Aussie Broadband confirmed all shares were successfully transferred and former Over the Wire shareholders have been paid.

Consequently, trading of Over the Wire shares was suspended yesterday, following the implementation of the scheme.

Aussie Broadband has since made changes to its board, announcing Over the Wire CEO Michael Omeros will take on the role of Executive Director.

Outgoing from the board is Chief Technology Officer John Reisinger who will continue in his executive role in day-to-day business.

According to Aussie Broadband’s managing director Phillip Britt, Resinger was integral in the development of the company’s software and network infrastructure.

“He has one of the most creative technical minds in the industry and we look forward to his ongoing contribution and leadership to the enlarged group,” Britt said.

Despite the changes, investors didn’t seem overly impressed today. Shares closed in the red on very thin volume, totalling just 33% of the company’s 4-week average.

However, it’s done little to derail the Aussie Broadband share price. It’s staged a remarkable comeback after springing off a low of $4.01 on 27 January.

Aussie Broadband share price snapshot

In the last 12 months, the Aussie Broadband share price has gained more than 76% and is now up 10.5% for the year.

Over the past month alone, the company’s shares have soared another 21% and are trading almost 9% higher in the previous 5 days of trading.

The post What dragged on the Aussie Broadband (ASX:ABB) share price today? appeared first on The Motley Fool Australia.

More reading

• Warning: Only 4 ASX shares just added to ASX 300 are profitable
• Aussie Broadband (ASX:ABB) share price advances amid directors offloading shares
• Aussie Broadband (ASX:ABB) share price rises on 46% revenue surge

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Aussie Broadband Limited. The Motley Fool Australia has recommended Aussie Broadband Limited. 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 don’t have the funds to build a truly diverse portfolio, then exchange traded funds (ETFs) could be a quick fix. This is because ETFs give investors access to a large number of different shares through a single investment.

With that in mind, listed below are three ETFs that could be worth a closer look. Here’s what you need to know about them:

BetaShares Crypto Innovators ETF (ASX: CRYP)

The first ETF to look at is the BetaShares Crypto Innovators ETF. The high risk ETF could be a good option for investors that want cryptocurrency exposure but aren’t keen investing directly in coins. BetaShares notes that the ETF is designed to capture the full breadth of the crypto ecosystem. This means you’ll be owning a slice of crypto exchanges, mining companies, and mining equipment providers. Among its holdings you’ll find Coinbase, Riot Blockchain, Robinhood, and Silvergate.

BetaShares Global Cybersecurity ETF (ASX: HACK)

Another ETF that investors may want to check out is the BetaShares Global Cybersecurity ETF. It provides investors with exposure to the rapidly growing global cybersecurity sector. BetaShares notes that with cybercrime on the rise, demand for cybersecurity services is expected to grow strongly for the foreseeable future. This means companies included in the fund, such as Accenture, Cisco, and Cloudflare, Crowdstrike, and Okta, could experience strong demand for their services over the next decade.

Vanguard MSCI Index International Shares ETF (ASX: VGS)

A final ETF to look at is the Vanguard MSCI Index International Shares ETF. This ETF is arguably as diversified as it gets for investors. There are almost 8 times as many shares included in this fund as there are in the ASX 200 index. These come from all corners of the developed world and include many of the the most iconic companies out there. Among the high quality companies you’ll be buying a slice of are Amazon, Apple, Johnson & Johnson, JP Morgan, Nestle, Nvidia, Tesla, and Visa.

The post 3 highly rated ETFs for ASX investors to check out this week appeared first on The Motley Fool Australia.

More reading

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• Check out these ETFs in March

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 BETA CYBER ETF UNITS, Betashares Crypto Innovators ETF, and Vanguard MSCI Index International Shares ETF. The Motley Fool Australia owns and has recommended BETA CYBER ETF UNITS. The Motley Fool Australia has recommended Vanguard MSCI Index International Shares 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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The S&P/ASX 200 Index (ASX: XJO) is enjoying a relatively robust day in the green so far this Wednesday. At the time of writing, the ASX 200 is up a healthy 0.93% at just over 7,150 points. 

But let’s dive deeper into these gains and have a look at the shares that are currently topping the ASX 200’s share volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume on Wednesday

Pilbara Minerals Ltd (ASX:PLS)

ASX 200 lithium producer Pilbara Minerals is our first share to check out today. As it presently sits, Pilbara has had a notable 15 million of its shares find a new home on the markets thus far.

There has been no major news or announcements out of the company this Wednesday as of yet. However, Pilbara has enjoyed a solid share price rise during today’s trading. the lithium share is currently up by 0.8% at $2.59 a share. This move could explain the volumes we are seeing.

South32 Ltd (ASX: S32)

Sotuh32 is next up on Wednesday. This diversified ASX 200 miner has had a hefty 16.4 million of its shares traded on the markets today. Again, we haven’t had any major news or announcements come out of the company.

Thus, it’s probable that the 2.6% rise South32 shares have enjoyed today is responsible for this elevated volume. Perhaps in conjunction with the miner’s ongoing share buybacks.

Nickel Mines Ltd (ASX: NIC)

The aptly-named nickel company Nickel Mines is our third and final share today. This resource share has had a whopping 18.37 million of its shares trade hands as it currently stands. This appears to have been caused by a strong share price gain.

Nickel mines shares are currently up a healthy 4.11% at $1.20 each, with no other news out of the compnay itself. As such, this big rise is the most likely reason we are seeing Nickel Mines top the charts thus far today.

The post These 3 ASX 200 shares are topping the volume charts on Wednesday appeared first on The Motley Fool Australia.

More reading

• Brokers name 3 ASX mining shares to buy today
• GameStop 2.0? What you need to know about the nickel short squeeze and how it’s impacting ASX shares
• Here are the 3 most heavily traded ASX 200 shares this Tuesday
• Why are ASX 200 mining shares having such a dire day?
• These 3 ASX 200 shares are topping the volume charts on Monday

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 Bruce Jackson.

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The Electro Optic Systems Holdings Ltd (ASX: EOS) share price is among the best-performing shares on the ASX today.

Shares in the defence technology group just keep climbing today, up 16.67% in late afternoon trade to a more than one month high of $2.24.

In contrast, the S&P/ASX 200 Index (ASX: XJO) has gained 10.9% at the time of writing.

Electro Optic share price boosted by global conflict

The company hasn’t released any news that will explain its outperformance. But defence-linked shares have recently found favour due to the war in Ukraine.

The surprise Russian attack on that country has forced western countries, including Australia, to increase spending on the military.

Opposition leader Anthony Albanese will consider fitting tomahawk cruise missiles on Australia’s Collins-class submarines if he wins office this year, reported The Guardian.

Governments rushing to spend on defence

The Labor leader’s comments come after Prime Minister Scott Morrison pledged at least another $38 billion in spending to boost the Defence workforce.

Both sides of politics have committed to increase defence spending to more than 2% of GDP. No one wants to be seen to be weak on security ahead of the elections.

Australia isn’t alone either. The Russian invasion has triggered an arms race in Europe. Germany announced yesterday that it will buy 35 US-made F-35A fighter jets, reported CNN.

Germany is moving away from its pacifist posture following the end of the Second World War and wants to play a more active role in Europe’s defences.

Electo Optic’s latest profit results show growth

ASX investors are counting on some of the forecast increased spending on military equipment to flow to companies like Electro Optic.

It’s worth noting that Electro Optic posted a 17.5% increase in FY21 operating revenue to $211.8 million. The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) loss also narrowed to $900,000 (before exchange rate impacts) from a loss of $3.2 million in FY20.

Electro Optic also managed to generate a positive operating cash flow of $900,000 in FY21. This compares to an outflow of $109.2 million in the previous year.

While the Electro Optics share price is strongly outperforming today, it is still down by more than 60% over the past year.

Foolish takeaway

Shareholders will be hoping that the shares have found a bottom given the positive global outlook for defence spending.

It isn’t only the Electro Optic share price that is riding higher on this thematic. The Austal Limited (ASX: ASB) share price also enjoyed a recent bounce.

The shipbuilder announced last week that it has delivered the 14th Guardian-class Patrol Boat to the Australian Department of Defence.

The post Why is the Electro Optic (ASX:EOS) share price rocketing 16% today? appeared first on The Motley Fool Australia.

More reading

• What’s impacting the Electro Optic (ASX:EOS) share price this week?
• Could this ASX defence share be set to benefit from the Ukraine crisis?
• Electro Optic (ASX:EOS) share price plunges 13% on net loss
• Electro Optic (ASX:EOS) share price rockets 18% on ‘breakthrough’ satellite news

Motley Fool contributor Brendon Lau owns Austal Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Austal Limited and Electro Optic Systems Holdings Limited. The Motley Fool Australia owns and has recommended Electro Optic Systems Holdings Limited. 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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